The Angry Bear

Money Illusion in the Twenty-First Century The starting point for any consideration of inflation is that wages (and interest, profits, and rents) are prices.  Every transaction has two sides, and one person’s price is another’s income.  In the aggregate, leaving aside international complications, inflation can’t have either a negative or positive effect on aggregate real income.  After this, you can explore issues of distribution, inflation’s...

Recently, Yves Smith announced Naked Capitalism was chosen to have its posts archived by the Library of Congress. It is an exciting invitation as much of the work being written at Naked Capitalism will be available for years to come and potentially studied. Angry Bear applauds this action by the Library of Congress. It was not that long ago, the US Library of Congress selected Angry Bear to archive its posts and notifying us on May 19, 2019. It...

Recently, Yves Smith announced Naked Capitalism was chosen to have its posts archived by the Library of Congress. It is an exciting invitation as much of the work being written at Naked Capitalism will be available for years to come and potentially studied. Angry Bear applauds this action by the Library of Congress. It was not that long ago, the US Library of Congress selected Angry Bear to archive its posts and notifying us on May 19, 2019. It...

Dan Little has a post up at Understanding Society on what authoritarianism might look like in the United States.  The whole thing is well worth reading, but here is one part: This seems about right, though of course speculative, but I have doubts about the big business piece.  Yes, some business interests will be close to the ruling party or strongman, and they may gain some degree of regulatory relief, but it would be a mistake for...

Dan Little has a post up at Understanding Society on what authoritarianism might look like in the United States.  The whole thing is well worth reading, but here is one part: This seems about right, though of course speculative, but I have doubts about the big business piece.  Yes, some business interests will be close to the ruling party or strongman, and they may gain some degree of regulatory relief, but it would be a mistake for...

Capital itself is the moving contradiction  The phrase quoted in the title is probably the most well-known in the Grundrisse. It has been cited in books and journal articles at least a hundred times, an order of magnitude more frequently than the alternative translation found in the collected works, “capital itself is a contradiction-in-process,” It is also a centerpiece of Moishe Postone’s Time, Labor and Social Domination, where Postone quotes...

Capital itself is the moving contradiction  The phrase quoted in the title is probably the most well-known in the Grundrisse. It has been cited in books and journal articles at least a hundred times, an order of magnitude more frequently than the alternative translation found in the collected works, “capital itself is a contradiction-in-process,” It is also a centerpiece of Moishe Postone’s Time, Labor and Social Domination, where Postone quotes...

If you will What if Jimmy Carter had been reelected in 1980; Walter Mondale had been elected in 1984 and reelected in 1988; and, Al Gore elected in 2000 and reelected in 2004? We would be at least twenty years ahead of where we are now in re Climate Change. Central America would not be as bad off as it is. We would not have invaded Iraq the first time. Nine-eleven probably would not have happened. We would not have invaded Afghanistan. We would...