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February 26 2014


February 07 2014


A Flailing State: Daron Acemoglu and Matt Taibbi on Economic Inequality | Radio Open Source with Christopher Lydon

We’re somewhere between the legend and the facts of the U.S. economy. The legend, still in our heads, is it’s a rough-and-tumble democracy and a classless society. Facts are: the top of the heap owns almost all the wealth and most of the politicians, and the top of the top – one percent – takes more and more of the income: almost 25 percent of the whole pot in Obama-time – it was less than ten percent in the seventies. Legend is Americans don’t much like redistribution of income. Facts say there’s been a steady upward redistribution of wealth and income over 40 years now. Legend is we’re in a slow recovery from the Great Recession of ’08. Facts say it’s the high end getting the growth: “inequality has deepened,” the President said the other night: “upward mobility has stalled.” We’re in the studio with Daron Acemoglu, the MIT economist and the co-author of Why Nations Fail. His argument is that the problem goes beyond soaring income inequality — to the eclipse of the myth that Average Joes rule our politics. Well into President Obama’s second term, deep in the doldrums of the status quo, he says the state of the union is “dangerous.” Matt Taibbi from Rolling Stone joins us on the phone. He is by now a Diogenes on Wall Street. What I didn’t know was that he trained for his critical role in a ten-year stint in Yeltsin’s Russia, a world of back-room deals and a burgeoning oligarchy. He tells us, ”A lot of things that I saw in the former Soviet Union we’re starting to see here.” Source: http://www.radioopensource.org/economic-inequality/
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January 28 2014


Dan Hamermesh – It’s About Time | Backdoor Broadcasting Company

  Event Date: 27 January 2014 Windsor Auditorium Royal Holloway University of London Egham, Surrey TW20 0EX The Department of Economics at http://backdoorbroadcasting.net/2014/01/dan-hamermesh-its-about-time/

January 24 2014


Giana Eckhardt – Consuming Buddhists | Backdoor Broadcasting Company

  Event Date: 23 January 2014 Windsor Auditorium Royal Holloway University of London Egham, Surrey TW20 0EX The School of Management at http://backdoorbroadcasting.net/2014/01/giana-eckhardt-consuming-buddhists/

December 07 2013


Marketplace: Nelson Mandela's economic legacy for South Africa...

December 05 2013


On His Way Out, Gary Gensler Leaves A Cleaner Wall Street

Gary Gensler is a hero to those who call for a crackdown on Wall Street. “Arch-enemy” to those who don’t. He’s leaving his top watchdog  job, and sits with us for an exit interview.


Jesse Eisinger, Pulitzer Prize-winning financial reporter for ProPublica. (@EisingerJ)

Gary Gensler, outgoing chairman of the U.S. Commodity Futures Trading Commission. (@CFTC)

From Tom’s Reading List

Wall Street Journal: Gensler’s Record: Achievements and Disappointments — “Mr. Gensler began his tenure amid an economic meltdown sparked in large part by the implosion of parts of the derivatives market. Large firms with complex ties to the financial system such as American International Group Inc. and Lehman Brothers Holdings Inc. suffered devastating losses on bad bets on derivatives, which nearly caused the financial system to collapse. The 2010 Dodd-Frank law was designed by Congress to ward off the threat of such a collapse by the meltdown of too-big-to-fail companies.”

Washington Post: Gary Gensler explains how financial reform is going — “On Oct. 2, the Commodity Futures Trading Commission (CFTC) oversaw the launch of ‘swap execution facility’ platforms. Called the ‘future of derivatives trading’ by Bloomberg, these platforms are the culmination of reforms in Dodd-Frank designed to bring price transparency to the opaque and dark over-the-counter derivatives market that helped cause the financial crisis. And, unlike the health-care exchanges in Obamacare, these electronic platforms launched without any notable problems.”

Bloomberg: Wall Street May Take Derivatives Regulator to Court — “The financial industry’s trade groups have consulted with lawyers about how to block Gensler’s final moves, according to four people briefed on the matter. A lawsuit would probably be focused on CFTC guidance issued in July that described when the agency should defer its rules in favor of regulations by foreign derivatives overseers, the people said. Gensler, 56, has fought a five-year battle with the industry over how to draw up a safer and more open marketplace for derivatives, the products that helped push the world economy to the precipice in 2008.”

November 18 2013


[TaM-1295] The Truth About Irish Emigration

Max Keiser and Stacy Herbert with the Truth About Markets on Resonance 104.4 FM in London. Discussing bitcoin, gold, silver, ponzi schemes and more.

October 29 2013


Radical economics: The Political Economy dispute at Sydney University - Hindsight - ABC Radio National (Australian Broadcasting Corporation)

What happened when neoclassical economics gatecrashed the campus in Whitlam's Australia? With the final countdown to the Federal election underway, Hindsight goes to the heart of a rancorous academic dispute in the 1970s and '80s that involved some of our most high profile political contenders in their idealistic youth. Tony Abbott, Anthony Albanese and Malcolm Turnbull all had a part to play in the Political Economy dispute at Sydney University. The seeds for the dispute were sown in the late 1960s when two new economics professors, with the support of the Vice Chancellor, set about overhauling the economics curriculum. Their declared aim was to modernise the faculty and to provide a more rigorous undergraduate training in economics. In practice this meant more micro and macroeconomic theory, more maths and statistics, and less of the wide-ranging, pluralist, descriptive economics that had characterised the faculty’s offerings before. With its emphasis on individualism, choice, markets and efficiency, and its neglect of institutions, economic history and collective interests, the new curriculum was anathema to many students and staff. By the early 1970s a forceful movement had developed in opposition. For more than a decade, the battle raged between those fighting to develop, nurture and defend the teaching of alternative economics, and the conservative forces on campus - which included senior academic staff in the Faculty of Economics, the University administration and right-wing student politicians. Radical Economics is the story of what happened when neoclassical economics gatecrashed the campus in Whitlam's Australia. It explores how alternative economic ideas have fared in the decades since. Above all, it reveals the ideological crucible of the 1970s and '80s in which the current generation of politicians and policy-makers cut their teeth. In the wake of the GFC and in the lead up to a Federal election in which economic management is unequivocally the bottom line, Radical Economics is essential listening. As well as the guests listed below, the program features rare archival recordings of Tony Abbott, comments from Malcolm Turnbull, and archival material featuring Glenn Stevens and Milton Friedman. The producer would like to thank John Hewson, Stuart Macintyre, Geoff Harcourt, Robin Stonecash, John Hawkins, Greg Lindsay and Stan Correy for their assistance and advice. Guests: Anthony Albanese MP, Deputy Prime Minister of Australia, Federal Minister for Infrastructure and Transport, Federal Minister for Broadband, Communications and the Digital Economy Dr Steve Keen, Former Professor of Economics and Finance, University of Western Sydney Dr Clive Hamilton, Professor of Public Ethics, Centre for Applied Philosophy and Public Ethics, Charles Sturt University and the University of Melbourne Dr Frank Stilwell, Emeritus Professor of Political Economy, University of Sydney Dr Henry Ergas, Senior Economic Adviser - Deloitte Access Economics, Professor of Infrastructure Economics - University of Wollongong, Economics and politics columnist - The Australian Dr Marian Baird, Professor of Employment Relations, University of Sydney Jeffrey Phillips SC, Former Vice President of the Students' Representative Council, University of Sydney Dr Tim Thornton, Lecturer In International Relations, Swinburne University Publications: Title: Political Economy Now! The struggle for alternative economics at the University of Sydney Author: Gavan Butler, Evan Jones and Frank Stilwell Publisher: Darlington Press 2009 Title: The possibility of a pluralist economics curriculum in Australian universities: historical forces and contemporary strategies Author: Tim Thornton Publisher: Ph.D Thesis - School of Economics La Trobe University 2013 Homepage: http://arrow.latrobe.edu.au:8080/vital/access/manager/Repository/latrobe:34899 Title: Making and Breaking Universities: Memoirs of Academic Life in Australia and Britain 1936-2004 Author: Bruce Williams Publisher: Macleay Press 2005 Title: Educating for Business, Public Service and the Social Sciences: A History of the Faculty of Economics at the University of Sydney 1920-1999 Author: Peter Groenewegen Publisher: Sydney University Press 2009 Title: Debunking Economics: The Naked Emperor Dethroned? Author: Steve Keen Publisher: Zed Books 2011 Title: The Mystic Economist Author: Clive Hamilton Publisher: Willow Park Press 1994 Title: Political Animal: The Making of Tony Abbott Author: David Marr Publisher: Black Inc 2012 Description: Quarterly Essay 47 Title: Battlelines Author: Tony Abbott Publisher: Melbourne University Press 2009 Further Information: Department of Political Economy, University of Sydney (http://sydney.edu.au/arts/political_economy/) Tony Abbott on 'Campus Wide' in 1979 - TUNE FM (https://www.youtube.com/watch?v=quFA3CrcELI) Tony Abbott on ABC TV's 'Nationwide' in 1979 (http://www.youtube.com/watch?v=CbRpxd3_EH0) Shadow boxing: Abbott's battle against 'Marxists' at the University of Sydney (http://www.abc.net.au/radionational/programs/hindsight/shadow-boxing-abbott-battle-against-marxists-at-sydney-uni/4935686) http://www.abc.net.au/radionational/programs/hindsight/radical-economics/4910750

October 18 2013


Week In The News: Shutdown, Senate Deal And ACA Struggles

Shutdown ends. Iran nuke talks.  Dry ice bombs at LAX.  Our weekly news roundtable goes behind the headlines.


Kristen Welker, White House Correspondent for NBC News. (@KWelkerNBC)

Bob Cusack, managing editor of The Hill. (@BobCusack)

Jack Beatty, On Point news analyst.

From Tom’s Reading List

National Review: McConnell’s Exit Interview — “This thing that passed the Senate, which, honestly, only maintained the status quo for a few more months, was better than what the House tried to pass and couldn’t pass, because it has a longer CR, which is what we wanted. That’s how challenging it is when you can’t get something more in line with what you’d like to achieve over here. So, my job is to acquaint our members, the best I can, with the reality of our situation, and try to get them to enable me to get us all out of the ditch—and my members weren’t happy being in a 16-day government shutdown and being a day away from rattling the markets by getting close to default.”

Washington Post: Government reopens after shutdown; Obama urges Congress to resist ‘extremes’ — “Obama called on Congress to resist ‘pressure from the extremes’ and ‘understand that how business is done in this town has to change.’ He urged lawmakers to pursue a ‘balanced’ long-term budget and pass comprehensive immigration reform and a new farm bill. And he delivered a heartfelt ‘thank you’ to federal workers as they return to their jobs. ‘What you do is important, and don’t let anybody else tell you different,’ he said.”

Christian Science Monitor: Why a little-noticed chat between the US and Iran is a big deal – “Rarely has there been a greater study in contrasts in Iran than now, as outbursts of familiar, fierce anti-American rhetoric – a staple since Iran’s 1979 Islamic revolution – are joined by the taboo-breaking surge of high-level US-Iran contact. But Iran experts note that Tehran’s new diplomatic push to resolve the nuclear issue should not be conflated with overcoming the far more challenging historical and ideological differences that have kept the US and Iran arch enemies for a generation.”

September 30 2013


Tyler Cowen on Inequality, the Future, and Average is Over | EconTalk 2013-09-30

Tyler Cowen of George Mason University and blogger at Marginal Revolution talks with EconTalk host Russ Roberts about his latest book, Average is Over. Cowen takes a provocative look at how the growing power of artificial intelligence embodied in machines and technologies might change labor markets and the standard of living. He tries to predict which people and which skills will be complementary to smart machines and which people and which skills will struggle. http://www.econtalk.org/archives/2013/09/tyler_cowen_on.html

September 11 2013


John Lanchester in Conversation - Books and Authors - Browse - Big Ideas - ABC TV

August 24 2013


Weingast on the Violence Trap | EconTalk

July 20 2013


Jul 19, 2013 — Daniel Drezner & Heather Hurlburt

May 10 2013


The Arab Spring: Have We Missed the Real Story? - This...Is Interesting on KCRW

Matt Miller talks to economist Hernando de Soto about the causes of the Arab Spring, and how not being able to own things can lead to revolution. http://www.kcrw.com/news/programs/in/in130508the_arab_spring_have

September 05 2012


A Father Of High-Speed Trading Thinks We Should Slow Down : Planet Money : NPR

The race for ever-faster trades has "absolutely no social value," says a billionaire who helped bring computers to financial markets. http://www.npr.org/blogs/money/2012/08/27/159992076/a-father-of-high-speed-trading-thinks-we-should-slow-down

August 26 2012


Ireland's Austerity - Rear Vision - ABC Radio National (Australian Broadcasting Corporation)

Ireland is being held up as the poster child for austerity measures, they've cut public services wages, raised taxes and cut government spending. Yet Ireland's economy is still in decline. So is austerity working in Ireland? Guests: Terry McDonough,Professor of Economics at the National University of Ireland Galway David Duffy, Economist at the Economic and Social Research Institute in Dublin. Sean Kay, Professor of politics at Ohio Wesleyan University. Constantin Gurdgiev, Professor of Finance at Trinity College, Dublin. Publications: Title: Celtic Revival? The Rise, Fall, and Renewal of Global Ireland Author: Sean Kay Publisher: Rowan & Littlefield Released: 01 Dec 2011 http://www.abc.net.au/radionational/programs/rearvision/ireland27s-austerity/4135598

July 28 2012


The end of Ponzi profits

Have we spent too much for too long ? Are the clever financial instruments that were supposed to prop up the system starting to buckle? According to economist Satyajit Das we're in a botox economy where things have been desperately covered up to conceal the truth. Greece, Spain, Portugal and Italy, he says, are just the front carriages in an impending financial train wreck. Also on board, he believes, are all the world’s major economies. It’s a pessimistic and sobering perspective on the consequences of too much debt.

July 27 2012


amiri baraka (at bottom of hour)

Archive of Doug Henwood's radio shows. http://leftbusinessobserver.com/Radio.html

March 26 2012


Strengthening Local Economies: Michael Shuman on Investing in Small Business

Summary: Not even 1 percent of Americans' long-term savings are invested locally, largely because it's just not possible under the current system. But what would our towns look like if a larger fraction of this $30 trillion were in local economies? Local businesses account for half of the jobs and economic output in the U.S., so the effect could be important. During Orion's latest live web event, Michael Shuman, author of the new book Local Dollars, Local Sense, discussed innovative ways that citizens can improve their local economies while growing their own bank accounts. Huffduffed from http://www.orionmagazine.org/index.php/audio-video/item/strengthening_local_economies_michael_shuman_on_investing_in_small_business/

March 14 2012

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