tag:blogger.com,1999:blog-26706564.post705981300873850943..comments2024-03-25T07:51:47.758-04:00Comments on Thoughts On Economics: Hart and Zingales, Stupid or Dishonest?Robert Vienneauhttp://www.blogger.com/profile/14748118392842775431noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-26706564.post-60697062369573964662009-01-24T18:23:00.000-05:002009-01-24T18:23:00.000-05:00You're equivocating. It's an opening paragraph, a ...You're equivocating. It's an opening paragraph, a lead in. They get more specific later on:<BR/>"The first is that it should intervene only when there is a clearly identified market failure. The second is that government intervention should be carried out at minimum cost to taxpayers."<BR/><BR/>All them examples you list are instances where the first principle and sometimes the second applies.YouNotSneaky!https://www.blogger.com/profile/06378267534638281151noreply@blogger.comtag:blogger.com,1999:blog-26706564.post-57562785063837674782009-01-24T15:01:00.000-05:002009-01-24T15:01:00.000-05:00What the two Serious Economists mean by "selective...What the two Serious Economists mean by "selective intervention" means "industrial policy".<BR/><BR/>But the USA republicans and the UK Tories (and their rivals) have indeed supported a very clear industrial policy: to support some sectors and companies withing those sectors as "national champions", favouring the rise of giant multinationals by removing anti=monopoly policies.<BR/><BR/>The sectors supported by the USA and UK industrial policies (even if undeclared) have been those sponsored and sponsoring the wealthy: for the USA it has been Microsoft, Boeing, Exxon, hollywood, pharma, agribusiness, financial services, all of which have been supported and protected by the USA government.<BR/><BR/>The USA (and UK) governments have also made industrial policy in disfavoring some sectors and companies, broadly speaking manufacturing and other unionized ones.<BR/><BR/>Keeping a strong dollar (for a a while), imposing international accords favoring the national champions of the USA, a low interest rate policy all have constituted the tools of this industrial policy, with disproportionate impact on different people.<BR/><BR/>Hart and Zingales know this very well, as we do. I don't think that they are stupid.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-26706564.post-44564387278523467522009-01-24T11:16:00.000-05:002009-01-24T11:16:00.000-05:00You Bail Them Out, We Opt Out.Dear [May Be Too Muc...<STRONG>You Bail Them Out, We Opt Out.</STRONG><BR/><BR/><BR/>Dear <EM>[May Be Too Much to my Taste, OK!, It will rather be:]</EM> Expensive Chairman Ben S. Bernanke,<BR/><BR/><BR/>All of Our Economic Problems Find They Root in the Existence of Credit.<BR/><BR/>Out of the $5,000,000,000,000 bail out money for the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that <STRONG>WE, The People,</STRONG> got?<BR/><BR/>If my bank doesn't pay back its credits, how come I still must pay mines?<BR/><BR/>If my bank gets 0% Loans, how come I don't?<BR/><BR/>At the same time, everyday, some of us are losing our home or even our jobs.<BR/><BR/>Credit discriminates against people of lower economic classes, as such it is unconstitutional, isn't it? It is an supra national stealth weapon of class struggle.<BR/><BR/>Credit is a predatory practice. When the predator finishes up the preys he starves to death. What did you expect?<BR/><BR/>Where are you exactly in that food chain? <BR/><BR/>Credit gets in the way of All the Principles of Equal Opportunity and Free Market.<BR/><BR/><STRONG><EM>Credit is a Stealth Weapon of Mass Destruction.</EM></STRONG><BR/><BR/><STRONG>Credit is Mathematically Inept, Morally Unacceptable.</STRONG><BR/><BR/><A HREF="http://edsk.org/share.html" REL="nofollow"><STRONG>You Bail Them Out, We Opt Out</STRONG></A><BR/><BR/><EM><STRONG>Opting Out Is Both Free and Strictly Anonymous.</STRONG></EM><BR/><BR/><STRONG>My Solution:<EM> The Credit Free, Free Market Economy.</EM></STRONG><BR/><BR/>Is Both Dynamic on the Short Run & Stable on the Long Run, The Only Available Short Run Solution.<BR/><BR/><STRONG>I Am, Hence, Leading an Exit Out of Credit:</STRONG><BR/><BR/>Let me outline for you my proposed strategy:<BR/><BR/><BR/>✔ <A HREF="http://edsk.org/" REL="nofollow">My Prescription to Preserve Our Belongings.</A><BR/><BR/>✔ <A HREF="http://edsk.org/share.html" REL="nofollow">Our Property Title: Our Free, Anonymous Right to Opt Out of Credit.</A><BR/><BR/>✔ <A HREF="http://edsk.org/money.html" REL="nofollow">Our Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: <STRONG>-</STRONG> .</A><BR/><BR/>✔ <A HREF="http://edsk.org/option.html" REL="nofollow">Asset Transfer - Our Right Grant Operation - Our Wealth Multiplier.</A><BR/><BR/>✔ <A HREF="http://edsk.org/interest.html" REL="nofollow">A Specific Application of Employment, Interest and Money.</A><BR/>[A Tract Intended For my Fellows Economists].<BR/><BR/><BR/>If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless Already?<BR/><BR/>Since credit based currencies are managed by setting short-term interest rates, on which you have lost all control, can we still say that they are managed?<BR/><BR/>We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.<BR/><BR/><STRONG>In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.</STRONG><BR/><BR/>The only other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.<BR/><BR/>It will be either awfully deadly or dramatically long.<BR/><BR/>A price none of us can afford to pay.<BR/><BR/><EM>“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”</EM> <BR/><BR/>- Henry A. Kissinger<BR/><BR/><BR/><EM><STRONG>What Else?</STRONG></EM><BR/><BR/><BR/><STRONG>You Bail Them Out, Let's Opt Out!<BR/><BR/><A HREF="http://edsk.org/share.html#register" REL="nofollow"><STRONG><EM>Check Out How Many of Us Are Already on Their Way to Opt Out of Credit.</EM></STRONG></A></STRONG><BR/><BR/><BR/>Let me provide you with a link to my press release for my open letter to you:<BR/> <BR/><A HREF="http://www.prlog.org/10165667-chairman-ben-bernanke-quantitative-easing-cant-work.html" REL="nofollow"><EM><STRONG>Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!</STRONG></EM></A><BR/><BR/><BR/><BR/>I am, Mr Chairman, Yours Sincerely <EM>[Like do I have really the choice?]</EM>,<BR/><BR/>Shalom P. Hamou AKA 'MC<STRONG>-</STRONG>Shalom'<BR/>Chief Economist - Master Conductor<BR/><A HREF="http://edsk.org/" REL="nofollow">1 7 7 6 - <EM>Annuit Cœptis</EM></A><BR/>Tel: +972 54 441-7640Anonymousnoreply@blogger.com