Much fresh audio product
Some of this just posted to my radio archives, and some of it’s been around for a while without being noted on the web page. Subscribe to the podcast (here’s the iTunes page—details on other portals on my archive page), and you’ll get the audio files right after they’re posted, instead of waiting for me to update the web index. Note: several of these shows were fundraisers for KPFA. I’ve cut out the pleas, but if you want to keep these coming, please support KPFA. October 25, 2012 Jodi Dean, professor of political science at Hobart & William… Read More
Credit default
Back in 2009, Justin Fox, then of Time magazine, published a book called The Myth of the Rational Market: A History of Risk, Reward, and Delusion on Wall Street. I interviewed him about it on my radio show in June of that year. It’s a pretty good book, but at the time, I thought it bore an uncanny resemblance to some of the arguments I made in my book Wall Street, published by Verso in 1997. (Verso let it go out of print, so it’s now available for free download at that link.) With the publication of the… Read More
Fresh audio product
Just posted to my radio archives: July 5, 2012 Adolph Reed, author of one of the pieces on this Nation thread, on the crisis in labor • Yanis Varoufakis, now economist in residence at Valve Software, talks about the economics of gaming, and the anarcho-syndicalist organization of the firm
Fresh audio product
Just posted to my radio archives: June 21, 2012 Yanis Varoufakis, now economist in residence at Valve Software, on the Greek elections and the reasons for German Sturheit • Amber Hollibaugh, co-director of Queers for Economic Justice, and Kenyon Farrow, former director of QEJ, on the New Queer Agenda
From the vault: money and the mind, a psychoanalysis
[Related topics came up earlier today on the Facebook, so I thought I’d post this excerpt from my book Wall Street (Verso, 1996/1997). You can download the whole book for free here. For a more “economic” analysis of money and gold, see From the vault: the gold fetish.] Money, mind, and matter: a psychocultural digression Money is a kind of poetry. — Wallace Stevens (1971, p. 165) Who drinks on credit gets twice as drunk. — Turkish proverb One virtue of Keynes’s attention to psychology and sentiment is that it forces us to think about economics… Read More
My chat with Adam Davidson
My latest radio show, a long chat with Adam Davidson, is up in my radio archives: June 9, 2012 Adam Davidson, host of NPR’s Planet Money and columnist for the New York Times Magazine, on finance, innovation, bourgeois ideology, journalism, and being mean on the Internet (a conversation that was prompted by this piece of mine) [Davidson columns discussed include: Wall Street, Bain dude, Honduras] • full conversation (unedited, except to remove some patter at the beginning and to suppress several volume spikes) is here
Sam Gindin comments…
The excellent Sam Gindin, who spent many years with the Canadian Auto Workers as an economist/advisor (and who cannot be dismissed as some armchair pointy-head), writes in response to my recent stuff on Wisconsin: Very good response; I think you are right on re labour. The one thing I’d add, and I think it is very significant, is that this crisis in labour overlaps with the crisis on the left. I’m convinced that any renewal in labour won’t happen until there is an organized left with feet inside and outside labour—and even… Read More
Fitch lecture video up
I could never bear to watch myself, but in case there’s someone else who might, the video of my Bob Fitch memorial lecture (Explaining what goes on in the world: in memory of Bob Fitch) is up here.
New York Fed: lower payments = lower default rate!
The New York Fed is out with a new paper (“Payment Changes and Default Risk: The Impact of Refinancing on Expected Credit Losses”) that shows that reducing monthly mortgage payments “significantly” reduces future default risks. (Abstract follows.) The details of the paper strike me as less interesting than the fact that this basilica of High Finance is arguing that some degree of debt reduction is prudent—bolder than anything that a mainstream politician would ever say. Remember, these are the folks who had David Graeber in recently to talk about debt (and debt forgiveness). Payment… Read More
Explaining what goes on in the world: in memory of Bob Fitch
[This is the text of a talk I gave at LaGuardia College, Long Island City, Queens, in memory of Bob Fitch, who died on March 4, 2011, from complications of a fall he suffered when returning home from teaching at LaGuardia. My short remembrance, written for The Nation, is here. Thanks to Jane LaTour for the two photos of Bob reproduced here. Video by Prudence Katze and Will Lehman is here.] I want to start by saying how honored I am to be giving this, the first Bob Fitch memorial lecture. I dearly hope there will… Read More
Me talking about Fitch, Monday
I’m giving the Bob Fitch memorial lecture on Monday evening, 5-7 PM, LaGuardia College, 31-10 Thomson Avenue, Long Island City, Room E-500. New York city, unions, Democrats, stuff like that. Map: http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=LaGuardia+College,+31-10+Thomson+Avenue,+Long+Island+City&aq=&sll=40.686987,-73.961261&sspn=0.012464,0.023389&ie=UTF8&hq=&hnear=29-10+Thomson+Ave,+Queens,+New+York+11101&t=m&z=14&iwloc=A&ll=40.744257,-73.937931&output=embed View Larger Map
Yakking in Geneva…
…New York, not Switzerland. Not at all a disappointment, since Geneva, Switzerland, is one of the dullest major places I’ve ever been, and Geneva, New York, features the excellent Jodi Dean, who invited Liza Featherstone and me to speak at Hobart and William Smith Colleges. Jodi’s announcement: Liza Featherstone and Doug Henwood on March 26 at 7:00 in Albright Auditorium, Hobart and William Smith Colleges, Geneva, NY Liza Featherstone, “Occupy Schools: Education for the 99%” A contributing writer for The Nation, Liza Featherstone is the author of Selling Women Short: The Landmark Battle for Workers’… Read More
Weirdness from EPI
Has the Economic Policy Institute been hacked, or are they undergoing a curious transformation?s just appeared on their email list: 8/4 Moving Devotion: God wants you to stop at the beginning of each day and say, “Lord, what do you want to do through me today? What are you doing in the lives of the people around me and how do you want to do it through me? I am stepping out of the way in inviting your Spirit to lead my life today. If you received this from a friend and… Read More
Face-ripping for fun & profit
[Reading Greg Smith’s open resignation letter to Goldman Sachs in today’s New York Times, which described a systematic fleecing of clients as the institutional norm, reminded me of Frank Partnoy’s 1997 book F.I.A.S.C.O. Here’s my review, from LBO #80. If you like it, subscribe today and make sure it keeps coming.] F.I.A.S.C.O., by Frank Partnoy (New York: W W Norton, 252 pp., $25). It might be best to start a consideration of this revealing book from one of its final pages, where Frank Partnoy explains why he decided to end his brief career as a derivatives salesman at our… Read More
Larry Summers, future World Bank president?, on how Africa is vastly underpolluted
So Obama’s going to nominate Larry Summers to be president of the World Bank. Recall this passage from 1991 memo, actually written by Lant Pritchett but signed by Summers when he was the Bank’s chief economist, on how “Africa is vastly under-polluted.” The last paragraph is important, and should not be overlooked in fighting these mofos. 3. “Dirty” industries Just between you and me, shouldn’t the World Bank be encouraging more migration of the dirty industries to the LDCs [less-developed countries]? I can think of three reasons: 1) The measurement of the costs… Read More