asterisk2a + r&d + johnmaynardkeynes   2

Beware the Minuses of Negative Interest Rates
Whether sub-zero interest rates actually work is open to debate, however. So says Richard Koo, the chief economist of the Nomura Research Institute. “In my view,” he writes, “the adoption of negative interest rates is an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results.” The failure of the BOJ and the ECB to meet their inflation and growth goals is shared by the Federal Reserve and the Bank of England. None of these central banks understand that their textbook solutions don’t fit the real economy, Koo asserts. [...] And on a more practical level, why corporations sit on record hoards of cash (taxes aside). [<< macro prudential policy ] //&! “When no one is borrowing money, monetary policy is largely useless.” [...] Keynes was right and (Milton) Freidman was wrong. - bit.ly/1Kl07Ri & There is no Confidence Fairy //&! fam.ag/1ogOOiM & bit.ly/1LpJL4W & bit.ly/1VgSjAB & bit.ly/214Icm3 & bit.ly/1Kl228n
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february 2016 by asterisk2a
Fred Block: The Tenacity of the Free Market Ideology - YouTube
Fred Block discusses his book “The Power of Market Fundamentalism,” which extends the work of the great political economist Karl Polanyi to explain why free market dogma recovered from disrepute after the Great Depression and World War II to become the dominant economic ideology of our time. // wo state role there would be no market system. // need social democracy in complex diverse society - representing people // freedom in complex diverse society = free of hunger and economic uncertain & freedom of nonconformity - protections, no marginalisation, no economic punishment // social democracy and free market are both Utopias // Thatcher & Co blaming State for malaise! nobody likes technocratic arguments, leaves public out, thus was able to make big return. // wealth creation through efficiency route takes more work and capital than predation (rentier/rent seeking) - ie relaxing fuel efficiency savings regulation for Detroit back in the days // trust that state can support innovation
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january 2016 by asterisk2a

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