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The Boom Not The Slump: The Right Time for Austerity?


Via pdeppisch, oAnth - "offene Ablage: nothing to hide"
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oAnth - "offene Ablage: nothing to hide"'s curator insight, March 10, 2013 9:20 PM

 

[...]

 

A recent paper by Alberto F. Alesina and Silvia Ardagna
(2009), “Large Changes in Fiscal Policy: Taxes Versus
Spending” (henceforth A & A), looks at a cross section of
deficit reduction policies among different countries. It
examines examples where large-scale deficit reduction is
associated with economic expansion and where the
debt-to-GDP ratio falls in the medium-term (3 years
a#er the adjustment). Based on this research, many
popular commentators suggest that the U.S. can adopt
such a policy and grow.1


However, upon a further examination of the data such a
conclusion is unmerited. The overwhelming majority of
the episodes used by A & A did not see deficit reduction
in the middle of a slump. Where they did, it o#en
resulted in a decline in the subsequent growth rate or an
increase in the debt-to-GDP ratio. Of the 26 episodes
that they identify as ‘expansionary’, in virtually none did
the country a) reduce the deficit when the economy was
in a slump and b) increase growth rates while reducing
the debt-to-GDP ratio. The sole example not covered
by those two qualifiers can be explained by a
combination of two policy maneuvers that are not easily
available to the U.S. at the moment: currency
depreciation and interest rate reduction.

 

[...]

 

open access: http://www.rooseveltinstitute.org/sites/all/files/not_the_time_for_austerity.pdf

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Les populations superflues

Les populations superflues | manually by oAnth - from its scoop.it contacts | Scoop.it

En Grèce, « forcée de fournir le portrait anticipé de ce à quoi vont devoir ressembler les sociétés occidentales, remaniées sous la férule du néolibéralisme déchaîné » se dessine « une nouvelle biopolitique de l’espèce », « chargée d’assainir le corps social de toutes les existences parasitaires ». Par Dimitris Vergetis, psychanalyste, directeur de la revue grecque αληthεια.

 

[...]

 

À cet égard, la réponse qui nous semble s’imposer est la suivante : les politiques appliquées à la Grèce sous prétexte de redressement économique visent à mettre en place un nouveau paradigme de société entièrement transitif aux automatismes du capital et aux lois du marché. La technicité de leur langage d’exposition ne fait qu’écran à leur objectif qui consiste à réterritorialiser l’ensemble du lien social sur la forme-marchandise. Le projet expérimenté en Grèce aspire à neutraliser, et à la limite à éradiquer, la politique comme instance de médiation entre l’économie et le social, à démanteler tendanciellement tous les dispositifs de protection sociale, à privatiser la prise en charge de tout risque de la vie et à abolir le droit du travail, pour créer des zones spéciales d’exploitation – formes dérivées des « camps », mais hautement rentabilisées, et charitablement humanisées. Ces zones de développement spéciales constituent une illustration paradigmatique de ce que Badiou a isolé sous le terme de « zonage ».

 

Les dirigeants européens répètent en chœur et à satiété que la Grèce est un cas particulier. En fait, loin d’être traité comme un cas particulier qui fait exception à la norme européenne qu’elle devrait impérativement intérioriser, la Grèce est forcée de fournir le portrait anticipé de ce à quoi vont devoir ressembler les sociétés occidentales, remaniées sous la férule du néolibéralisme déchaîné. Tout en restant dans le cadre du mode de production capitaliste, nous sommes donc au seuil d’un changement d’époque. Or celui-ci s’annonce sous des auspices littéralement macabres en tant qu’il couve une nouvelle biopolitique de l’espèce. Il importe d’en restituer la pente et les mécanismes d’accomplissement.

 

[...]

 

Avec la mondialisation et la mobilité forcée des travailleurs, les « ressources humaines » sont désormais renouvelables à vil prix. Il est facile et hautement profitable d’importer non seulement de la main-d’œuvre mais aussi du personnel très qualifié formé dans des contrées lointaines. Le coût de la formation d’un informaticien aux États-Unis, depuis sa naissance jusqu’à l’acquisition de ses compétences, est cent fois supérieur à celui de la formation de quelqu’un né aux Indes. Il est aussi hautement profitable de délocaliser pour aller capter sur place une force de travail privée de droits et à prix dérisoire. Bref, la machine capitaliste peut se procurer de la marchandise humaine à prix très avantageux, sans avoir à se soucier de sa formation et de sa reproduction. Le cas de la Grèce, de l’Espagne et du Portugal, pour rester dans le contexte actuel, qui voient leur jeunesse hautement qualifiée aspirée par l’Allemagne, pays en dépérissement démographique, fournit une démonstration exemplaire de ce processus.

 

[...]

 

l'article complet: http://blogs.mediapart.fr/edition/les-invites-de-mediapart/article/210213/les-populations-superflues


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Debt Cancellation in Mesopotamia and Egypt from 3000 to 1000 BC

Debt Cancellation in Mesopotamia and Egypt from 3000 to 1000 BC | manually by oAnth - from its scoop.it contacts | Scoop.it
We must pierce the smoke-screen of creditors and re-establish the historical truth. Repeated and generalised debt cancellation has occurred throughout history.

 

 

 


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Etienne Chouard sur les théories du complot | dailymotion.com

 

// oAnth - source URL -- http://www.dailymotion.com/video/xjcdpe_etienne-chouard-sur-les-theories-du-complot_webcam


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Rescooped by oAnth - "offene Ablage: nothing to hide" from Discover Sigalon Valley - Where the Tags are the Topics
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Bourdin 2012 : Jean Ziegler (entretien en fr) - nouveau livre "Destruction massive"


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World-first hybrid shark found off Australia | uk.news.yahoo.com

World-first hybrid shark found off Australia | uk.news.yahoo.com | manually by oAnth - from its scoop.it contacts | Scoop.it
Scientists said on Tuesday that they had discovered the world's first hybrid sharks in Australian waters, a potential sign the predators were adapting to cope with climate change.

 

--------------------------------------

 

// quotation by oAnth:

 

[...]

 

The Australian black-tip is slightly smaller than its common cousin and can only live in tropical waters, but its hybrid offspring have been found 2,000 kilometres down the coast, in cooler seas.

 

It means the Australian black-tip could be adapting to ensure its survival as sea temperatures change because of global warming.

 

"If it hybridises with the common species it can effectively shift its range further south into cooler waters, so the effect of this hybridising is a range expansion," Morgan said.

"It's enabled a species restricted to the tropics to move into temperate waters."

 

Climate change and human fishing are some of the potential triggers being investigated by the team, with further genetic mapping also planned to examine whether it was an ancient process just discovered or a more recent phenomenon.

 

[...]

 

 

- original Url: http://uk.news.yahoo.com/world-first-hybrid-shark-found-off-australia-070347259.html


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Occupy Education

 The Occupy movement takes on neoliberal education reform and the Bloomberg Department of Education.

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From Contagion to Incoherence: Toward a model of the unfolding Eurozone Crisis

From Contagion to Incoherence: Toward a model of the unfolding Eurozone Crisis | manually by oAnth - from its scoop.it contacts | Scoop.it

 

 

 

 

 

 

This post offers readers a fully-fledged analytical model of the unfolding Eurozone Crisis. It begins with a macro-economic analysis of the Crisis’ causes and then, importantly, models the feedback between Europe’s institutional and policy responses and the contagion process that began with Greece. For the fully-fledged (wonkish) version of the paper,

 

 

 

click here ( http://varoufakis.files.wordpress.com/2013/03/from-contagion-to-incoherence-a-simple-macroeconomic-model-of-the-eurozone-crisis1.pdf ). What follows below is a maths-free summary of each of the paper’s sections.

 

[...]

 

 


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Is a revolution in economic thinking under way?

Is a revolution in economic thinking under way? | manually by oAnth - from its scoop.it contacts | Scoop.it
Our current situation is conducive to revolutionary thinking, if not yet in politics, then maybe in economics.

 

The BoE has spent £50 billion over the past six months to support bond prices. That could instead have financed a cash handout of £830 for every man, woman and child in Britain, or £3,300 for a typical family of four. In the United States, the $40 billion the Fed has promised to transfer monthly, with no time limit, to banks and bond funds, could instead finance a monthly cash payment of $500 per family – to be continued indefinitely until full employment is restored.


Via Sepp Hasslberger
oAnth - "offene Ablage: nothing to hide"'s insight:

// oAnth: What sounds on a first glance quite marvelous, needs in my opinion to consider who is paying here to whom by which kind of interests and conditions. The question, where these huge amounts of money are coming from, seems to be not even noteworthy.


The states' fiscal sovereignty is completely questioned. It's an open revolution not in economic thinking, but in the foundations of the state's authority. In so far this discussion continues the neoliberal agenda on a less hidden manner as a clear opening to the area of neofeudalism and proves an ongoing obvious power shift.

It has IMHO nothing to do with a P2P decentralized economy.

 

------------------------

 

// oAnth: I have to correct my latest entry in so far, as I have misunderstood the source of the money, which is to spend. If I understand well now, it would be a more or less indirect debt cut by spending money, created by the central bank, directly to the population, but - but I would instantly like to add, the incentive to the exploitation circle would nevertheless in a long run only be to tame by additional much higher top income taxes.

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Sepp Hasslberger's curator insight, February 4, 2013 9:39 AM

It seems that the trust in banks and the economists who back them is fast coming to an end. There is talk abut innovative solutions to the crisis, and one of those is to spend money not on bailing out banks or holding up bond prices (so the rich can continue to accumulate ever more money) but to actually help the people... what a novel idea! Well, actually not. It was proposed a century ago by some "rogue" economists but no one listened.

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The Rise of Egypt’s Workers, by Joel Beinin

The Rise of Egypt’s Workers, by Joel Beinin | manually by oAnth - from its scoop.it contacts | Scoop.it

Workers have long sought to bring change to the Egyptian system, yet the independent labor movement has only recently begun to find a nationwide voice. As Egypt’s sole legal trade union organization and an arm of the state for nearly sixty years, the Egyptian Trade Union Federation (ETUF) has had a monopoly on representing workers. Though its mission is to control workers as much as it is to represent them, ETUF has been unable to prevent the militant labor dissidence that has escalated since the late 1990s. Workers were by far the largest component of the burgeoning culture of protest in the 2000s that undermined the legitimacy of the Mubarak regime.

Workers have largely been concerned about economic issues that gained salience as Egypt accelerated the privatization of public enterprises. Until 2010, only a small minority of labor activists advanced democratization as a strategic objective. Commonly seeking to co-opt rather than openly contest the regime’s power, the independent labor movement was unprepared to take the lead when unrest swept through the Arab world in January 2011. It had no nationally recognized leadership, few organizational or financial resources, limited international support, no political program, and only a minimal economic program.

Despite this, workers were quick to mobilize in the early stages of the groundswell that eventually unseated Hosni Mubarak, and they deserve more credit for his ouster than they typically receive. Soon after the uprising began, workers violated ETUF’s legal monopoly on trade union organization and formed the Egyptian Federation of Independent Trade Unions (EFITU)—the first new institution to emerge from the revolt. Labor mobilization continued at an unprecedented level during 2011 and early 2012, and workers established hundreds of new, independent enterprise-level unions. They also secured a substantially higher minimum wage.

Yet, though the labor movement has made headway, problems persist. New unions face funding difficulties and the independent labor movement is internally divided. The Supreme Council of the Armed Forces (SCAF)—the ultimate power in Egypt since Mubarak’s demise—and ETUF have both repeatedly asserted their power to oppose independent unions and have scored some successes. The movement has a very limited presence in the emerging institutions of the post-Mubarak state and is thus left without much leverage to fend off attacks from its political opponents.

Going forward, the independent labor movement should consider looking beyond street protests over immediate grievances, where it has achieved its greatest successes, and begin training enterprise-level leaderships and forging political coalitions with sympathetic sections of the intelligentsia. Independent trade unions remain the strongest nationally organized force confronting the autocratic tendencies of the old order. If they can solidify and expand their gains, they could be an important force leading Egypt toward a more democratic future.

Click here to read the full paper : http://www.carnegieendowment.org/files/egypt_labor.pdf


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Sarkozy trébuche en allemand | owni.fr 2012-01-30

Sarkozy trébuche en allemand | owni.fr 2012-01-30 | manually by oAnth - from its scoop.it contacts | Scoop.it
Dimanche soir, dans la bouche du Président Nicolas Sarkozy, l’Allemagne avait valeur d’exemple pour illustrer la plupart des propositions qu’il a annoncées. Bases de données à l'appui, nous avons vérifié ses références allemandes.

 


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Islamic principles in economic life | english.ahram.org.eg

The Islamic value system in economic life is a moral code for economic and social progress. For instance, when a “Muslim” applies Islam’s rules in work, science, justice, investment, construction and diligence etc, and when a “Muslim” rejects what Islam prohibits, such as fraud, injustice, ribba (profit without labour), ignorance, overspending, manipulation, monopoly etc. Sharia rulings make it essential to answer this key question: Is every “bank interest” considered forbidden ribba, in light of the evolution of the Western economic view of banking interest, on the one hand, and disagreement among Islamic scholars about bank interest, on the other?

 

-------------------------

 

// oAnth - original URL -- http://english.ahram.org.eg/NewsContent/4/0/31200/Opinion//Islamic-principles-in-economic-life-.aspx


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Boys in Albanian Countryside | flickr.com

Boys in Albanian Countryside | flickr.com | manually by oAnth - from its scoop.it contacts | Scoop.it

United Nations Photo has added a photo to the pool:
Young boys and a flock of grazing sheep.
Photo ID 296621. 01/01/1991. Mamurras, Albania. UN Photo/G Accascina.

 

----------------------------

// oAnth - original source:

http://www.unmultimedia.org/photo/ via https://secure.flickr.com/photos/un_photo/6589010235/in/pool-agriculture/


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