Daily Archives: May 15, 2016


A Global Marshall Plan for Joblessness?

New Economic Perspectives has the article A Global Marshall Plan for Joblessness?.

The Solution: A Global Marshall Plan for the Unemployed

Because the social and economic costs of unemployment spread and reproduce in complex and pernicious ways, it ought to be treated like an infectious disease. The policy response should aim at inoculation against unemployment, not at countering its effects.

Some interesting ideas and some interesting history in this article.


Mankiw Morality in a Mash Up with Mankiw Myths

New Economic Perspectives has the article Mankiw Morality in a Mash Up with Mankiw Myths.

Bernie’s explanations of how the financial system is rigged, however, use conventional economics that people like me (one of his economic advisers) have long employed in our research.  I will show that Mankiw is actually spreading rather than refuting myths about the rigged system.  Mankiw’s own economic “principles” support Bernie’s explanation of why the financial system is rigged.

Read Bill Black’s eloquent take-down of anybody who pretends that there weren’t massive crimes committed during the build-up of the financial bubble and its inevitable bursting in 2008/2009.

Hillary Clinton’s challenge to Bernie Sanders to name one crime that was committed could have been answered by his handing her this article from one of his own economic advisers. I was surprised when Bernie Sanders came unarmed to that fight (debate). That mistake might cost Bernie the election.

In the article, Black mentions that not all CEO’s are incentivized to commit fraud, but he never explicitly states why.  The disincentive to commit fraud has always been the threat of being sent to prison for committing the fraud.  Now that President Obama and his Attorney Generals have buried the disincentive, what is left to stop this rampant crime on Wall Street?


Stop Calling Deals That Help CEOs Pillage with Impunity “Free Trade”

New Economic Perspectives has the article Stop Calling Deals That Help CEOs Pillage with Impunity “Free Trade”.

These points explain why President Obama’s rhetoric about the deals – they mean that the U.S. rather than China makes the rules – is knowing propaganda on his part.  Whether U.S. CEOs or Chinese CEOs dictate the terms of the deal is irrelevant.  They all want to achieve and maintain the ability to rig the system with impunity.

People who aren’t reading these articles by William K. Black just don’t have any concept of how duplicitous President Obama is being when he pushes these “trade” deals.

Whenever my resolve weakens to refuse to vote for Hillary Clinton and her third Obama term Presidency, I take a good dose of Bill Black explanations.  That keeps me healthy for at least a few months.