Tag Archives: heterodox economics

What the World Economic Crisis Teaches Us About Capitalism

This is a must-read piece from an editor of GegenStandpunkt in Germany, now translated into English.

Everyone knows that this is dangerous for money. The newspapers write that inflation is imminent, even a currency reform – where money is deleted after all. For rescuing the banks, money is deleted in the end. What does this once again reveal? Everyone knows that this is the most crazy money printing action that has ever been brought under way – and they all say at the same time that this is necessary. They say at the same time that an alternative would just be impossible. So they profess that finance is the true wealth of society: this stronghold of the equation that every piece of money is more money, which the banks administer, this power to draw advance of capital out of the sleeves, to create it, wherever there is an opportunity to make business, this power is the true wealth of capitalistic nations. This is what these nations depend on, or to say it in other words: with this radicalism, by which they now are rescuing their banks, the governments profess the reason of state prevailing here: they risk their own financial power in order to rescue the private one.

It is through the power of finance (financial capitalism) that capitalistic nations hold economic monopoly over the world.

The whole article is here.

For more on the economic crisis from a heterodox perspective, see URPE.

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URPE – Allied Social Sciences Association Meeting in San Francisco Jan 3-Jan 5

I’ll be attending as a member of URPE, the AEA conference in San Francisco from Jan 2 to Jan 5. The following panels are the ones that I am particularly interested in attending:

Jan. 3, 8:00 am
International Migration and Remittances: Innovations in Survey and Experimental Work (O1)

Presiding: DEAN YANG, University of Michigan
DEAN KARLAN, Yale University, and SENDHIL MULLAINATHAN, Harvard University–Remittance Set
Asides: A Field Experiment in Mexico
DEAN YANG, University of Michigan, DIEGO AYCINENA, Francisco Marroquin University, NAVA
ASHRAF, Harvard University, and CLAUDIA MARTINEZ, University of Chile–Remittances and the
Problem of Control: A Field Experiment Among Migrants from El Salvador
MICHAEL CLEMENS, Center for Global Development, and LANT PRITCHETT, Harvard University–
Income per natural: Measuring development as if people mattered more than places
DAVID MCKENZIE, World Bank, and JOHN GIBSON, University of Waikato–Evaluating the Impact of a
New Seasonal Migration Policy in the Pacific
Discussants: JOOST DE LAAT, University of Montreal
LORI BEAMAN, University of California-Berkeley
UNA OSILI, Indiana University
Gero Carletto, World Bank

Jan. 3, 8:00 am
Gender and Migration (F2)

Presiding: FARIDA KHAN, University of Wisconsin-Parkside
MARY C. KING, LEOPOLDO RODRIGUEZ, and CARRIE COBB, Portland State University–Semi-
Formal: Understanding the Institutional Nature of the Labor Market for Mexican Immigrant Workers in the US
LAURA J. TEMPLETON, University of Alberta–The Economic Welfare of University-Educated Immigrant
Women in Canada: Impact of the Domestic Household
ELKE HOLST, DIW Berlin/SOEP and University of Flensburg, ANDREA SCHAEFER, DIW Berlin and
Bremen International Graduate School of Social Sciences, and MECHTHILD SCHROOTEN, University of
Applied Science Bremen and DIW Berlin–Gender, Migration, Remittances: Evidence from Germany
ALEX JULCA, United Nations – International Labour Migration and Reproduction of Inequalities: the Latin American Case
Discussants: FARIDA KHAN, University of Wisconsin-Parkside
ARPITA BANERJEE CHAKRABORTY, University of New Hampshire

Jan. 3, 10:15 am
Sraffa’s Unpublished Papers and Marxian Political Economy (B2)

Presiding: AJIT ZACHARIAS, Levy Economics Institute of Bard College
RICCARDO BELLOFIORE, University of Bergamo–Sraffa, the New Interpretation and Marx: A First
Exploration into a Continent Which is Not Yet Explored
SCOTT CARTER, University of Tulsa–Sraffa-New Interpretation Nexus and the Theory of Exploitation
GARY MONGIOVI, St. John’s University–Sraffa and Wittgenstein on Language and Method
HEINZ KURZ, University of Graz–Ricardo, Marx, and Sraffa
Discussants: PIERANGELO GAREGNANI, Centro Sraffa
JOHN EATWELL, New School for Social Research
CRISTINA MARCUZZO, University of Rome-La Sapienza

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