La subida de los salarios se debe basar en razones de Justicia y no en razones utilitaristas como hace este artículo, que por otra parte son bastante dudosas. WagesintheUSremainsuppressed http://feedly.com/k/1bjPuse One of the key reasons for the mediocre economic growth in the US has been the ongoing weakness in household wages. As the chart below shows, US median inflation-adjusted household income (red line) remains well … Seguir leyendo Wages in the US remain suppressed

Juan Ramón Rallo’sMonetaryEquilibriumRate http://socialdemocracy21stcentury.blogspot.com/2013/08/juan–ramon–rallos–monetary–equilibrium.html Juan Ramón Rallo explains it here: Juan Ramón Rallo, “A vueltas con el tipo de interés natural,” 9 August. According to this, Sraffa’s natural rate, “would be the interest rate that would prevail in a barter economy; the second [sc. interest rate] (mine) would be the intertemporal equilibrium rate for terms and risk (yield curve) that would prevail in a monetary … Seguir leyendo Juan Ramón Rallo’s Monetary Equilibrium Rate

Post KeynesiansonMiltonFriedman http://socialdemocracy21stcentury.blogspot.com/2013/08/post-keynesians–on–milton–friedman.html There is some discussion of Milton Friedman at the moment by Paul Krugman (here and here). So in that spirit, I think some heterodox Keynesian views of Friedman are worth mentioning: ThomasPalley, “MiltonFriedman: TheGreatConservativePartisan,” November 27th, 2006. James K. Galbraith, “TheCollapseofMonetarismandtheIrrelevanceofthe New MonetaryConsensus,” March 31, 2008. Thomas Palley has a nice summing up of Friedman monetarist doctrine: “Monetarism’s most famous aphorism is … Seguir leyendo Post Keynesians on Milton Friedman

WhenWillSpanishBankingSystemCollapse? http://feedproxy.google.com/~r/MishsGlobalEconomicTrendAnalysis/~3/XsDogJ_F5cE/when–will–spanish–banking–system.html The question on my mind today is "When will the Spanish banking system collapse?" Spain’s exposure to Portuguese sovereign debt and unrealized losses on real estate loans are two reasons a collapse in inevitable. The Spanish banking system passed a so-called "stress test" in 2012, but sovereign government bonds are are not included in the evaluation. We saw how well that worked with … Seguir leyendo When Will Spanish Banking System Collapse?

JustsetfiretoJapan’squadrilliondebt – Telegraph Blogs http://blogs.telegraph.co.uk/finance/ambroseevans–pritchard/100025346/just–set–fire–to–japans–quadrillion–debt/ shared via http://feedly.com Seguir leyendo Just set fire to Japan’s quadrillion debt – Telegraph Blogs

Europe’s Crisis Will Be BackSoon http://feedproxy.google.com/~r/zerohedge/feed/~3/nm1pTMupYvo/story01.htm The financial media continues to talk about how Europe is saved. It’s odd that somehow everything is starting to look so much better now than Angela Merkel is up for re-election in Germany. Could it be coincidence that the worst Crisis in years suddenly went away right as the women with her finger on the “bailout” button needed to … Seguir leyendo Europe’s Crisis Will Be Back Soon

NotEven More FakeChinese Data Can PushFuturesHigher http://feedly.com/k/13TpLBz The good, if fake, Chinese "data" releases continued for a second day in row, dominating the overnight headlines with a barrage that included CPI, PPI, retail sales, industrial production, fixed investment, money growth, car sales, and much more (summary recap below). Needless to say, all the data was just "good enough" or better than expected. Yet judging by … Seguir leyendo Not Even More Fake Chinese Data Can Push Futures Higher

MatiasVernengoonthe Natural RateofInterest http://feedly.com/k/13Tppuy Matias Vernengo has a great post here on Austrians and the natural rate of interest: MatiasVernengo, “OnAustriansandthe Natural RateofInterest,” NakedKeynesianism, August 9. The highlight is Vernengo’s observation that Juan Ramón Rallo’s re-interpretation of the Austrian business cycle theory, in which there is a mismatch between real savings and investment, requires an equilibrium natural rate, despite Rallo’s protestations to the contrary. shared … Seguir leyendo Matias Vernengo on the Natural Rate of Interest

Trabajo: “Salario mínimo: Bélgica en la cúspide” http://feedly.com/k/13Tpm1U Las cifras que Eurostat publicó a finales de julio muestran que el salario mínimo legal en Bélgica es más alto que en la mayoría de los países europeos, recoge Le Soir. Con 1.502 euros brutos mensuales, Bélgica ostenta la segunda posición dentro de Europa, por detrás de Luxemburgo (1.874 euros), y por delante de Países Bajos (1.478 … Seguir leyendo Trabajo: “Salario mínimo: Bélgica en la cúspide”

MichaelKlare: TheThirdCarbonAge – DroptheFantasyof a Coming Era ofRenewableEnergy http://feedly.com/k/19RRU3h Yves here. To put none too fine a point on it, the most important steps to reduce carbon emissions would be a Marshall plan level effort to reconfigure living and resourcing arrangements so as to reduce energy demands, and to go particularly aggressively after the worst polluters (for instance, the cars you see spewing fumes, are … Seguir leyendo Michael Klare: The Third Carbon Age – Drop the Fantasy of a Coming Era of Renewable Energy