Socialdem. 21st Century

This is part 2 of my response to George Selgin’s post here:George Selgin, “‘Lord Keynes’ contra White on the Beginnings of Coinage,” Alt-M Ideas for an Alternative Monetary Future, August 30, 2017.Selgin refers to various new data from the past 20 years or so, and much of the new evidence was presented at a conference called “White Gold: Revealing the World’s Earliest Coins,” held from 25–26th June, 2012 (International Congress at Israel Museum, Jerusalem).Wartenberg (2017), for instance,...

In the last post here, I gave a large sample of 48 published works in modern scholarship on the question of the origins of electrum coinage.I took a sample of late 20th and early 21st century general and specialist ancient historians, numismatists and other relevant scholars. Professor Selgin points out here that I included some MMT economists in Group 1, but I could have included some free bankers or other libertarian scholars in Group 3.This is easy to do.Once again, I take “majority” to...

George Selgin replies to my post here in the following critique:George Selgin, “‘Lord Keynes’ contra White on the Beginnings of Coinage,” Alt-M Ideas for an Alternative Monetary Future, August 30, 2017.You can follow the complete debate in these posts as follows: Larry White, “Why the ‘State Theory of Money’ doesn’t explain the Coinage of Precious Metals,” Alt-M Ideas for an Alternative Monetary Future, August 24, 2017.“Larry White on the Origins of Coined Money: A Critique,” August 26,...

The free banker Larry White has a recent post here on the origins of coined money:Larry White, “Why the ‘State Theory of Money’ doesn’t explain the Coinage of Precious Metals,” Alt-M Ideas for an Alternative Monetary Future, August 24, 2017.White is essentially talking about the origins of coined money in ancient Lydia and Greece.First of all, there are some points in White’s article that may be freely acknowledged as correct, as follows:(1) Chartalism does not have a universal theory of the...

James Keir Hardie (15 August 1856–26 September 1915) was the founder of the British Labour Party (which was founded on 27 February, 1900), its first leader, and its first Member of Parliament.In 1899, James Keir Hardie appeared before the UK House of Commons Select Committee on emigration and immigration. He – as a leading socialist of Britain – gave his opinion on mass immigration into Scotland:“James Keir Hardie, Secretary to the Ayrshire Miners’ Union and to the Scottish Parliamentary...

Lecture 6 of six lectures given to the Exploring Economics Summer School in Erfurt, Germany, by Steve Keen. The sixth lecture below is about a theory of value for a new political economy:[embedded content]

Lecture 5 of six lectures given to the Exploring Economics Summer School in Erfurt, Germany, by Steve Keen. The fifth lecture below is about making economics consistent with thermodynamics:[embedded content]

Lecture 4 of six lectures given to the Exploring Economics Summer School in Erfurt, Germany, by Steve Keen. The fourth lecture below is a discussion of modelling Minsky’s Financial Instability Hypothesis:[embedded content]

Lecture 3 of six lectures given to the Exploring Economics Summer School in Erfurt, Germany, by Steve Keen. The third lecture below deals with Minsky’s Financial Instability Hypothesis:[embedded content]

An interesting interview of Sam Bowles (Professor Emeritus at the University of Massachusetts Amherst) by Marshall Auerback on the Neoclassical myth of homo economicus:[embedded content]A great interview.See also his book: Bowles, Samuel and Herbert Gintis. 2011. A Cooperative Species: Human Reciprocity and its Evolution. Princeton University Press, Oxford and Princeton, NJ.