Feeding at the Trough

FEEDING AT THE TROUGH

I took the call from my maiden Aunt Leona.  Uncle Myron and his idiosyncratic wife Marjorie—Republican activists and occasional pranksters—were piloting their black Cadillac limo to the Utah Governor’s office from Leona’s home in Ogden.  “Expect their arrival at the State Capitol momentarily,” Leona announced resolutely. My octogenarian aunt and uncle were pre-World War II […]

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Karl Marx

WHEN THE LEFT AIN’T RIGHT

If pragmatism is to be resurrected in American economics and politics, the methodology of John Maynard Keynes remains as the best starting point.  However, because real economies evolve in complexity—and because economic ideas stagnate and loose vibrance—Keynesian-type thinking needs rebirthing.  The best intellectual pathway for renewal ought to start with Joan Robinson, Keynes’ student.  Her reflections on what she called the profit lacuna are a solid gateway toward the development of some sort of in-between theory dealing especially with all sorts of fraud.  Beyond economics, it might also pour balm on America’s culture wars.  Capitalism in Crisis dot Org is about fleshing out these compelling possibilities.

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FRAUD!

Capitalism and Fraud Fraud’s on the rise in American capitalism, politics and culture.  It occurs when a “sucker” is tricked, duped or hustled into acting against their best interest.  Deception always plays a part. Here’s four alleged frauds, drawn from the news on a single day, the last day of Summer, 2020: National Institutes of […]

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A Second American Depression | Capitalism in Crisis with Jim Sawyer

A SECOND AMERICAN DEPRESSION? JUST AROUND THE CORNER?

There’s no official definition for economic depression. Intuitively it means protracted recession when expectations sink and malaise sets in, to become the new norm. Breaking out would be daunting due not only to economic realities but also to political intransigence heightened by continuing culture warfare. Sound all too possible? Could America be verging on getting […]

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WOULD ADAM SMITH WEAR A COVID-19 MASK?

Absolutely. Adam Smith would wear a mask to protect others. He would respect and hold others’ needs on par with his own. He would expect them to do likewise. Smith did not endorse the pursuit of unbridled self-interest. Instead, he embraced self-interest, rightly understood. He was a moral philosopher; an ethicist. Smithian capitalism works when […]

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(More on) GOVERNMENT’S ROLE

No longer can contemporary capitalism operate on autopilot as in Adam Smith’s time. Now, extra-market-oriented choices by citizens are becoming essential to circumscribing the market with public priorities for health and welfare, education, environmental stewardship and much more. The “new” capitalism ahead will steer around the false dichotomy of only two choices: laissez-faire or Marxism. […]

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