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19212Re: [LeftLibertarian2] more signal

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  • Kevin Carson
    May 8, 2008
      On 5/1/08, quasibill <quasibill@...> wrote:

      > Although I may be becoming a one trick pony by constantly posting
      > articles found elsewhere:
      > http://www.counterpunch.org/hudson05012008.html
      > IMO, a very good description of what is going on in the economy today
      > especially with respect to the federal reserve and banks. Although I'm
      > still wary of trying to compare too much to Japan circa 1991 - the U.S.
      > is a net debtor, whereas Japan was a net creditor when the printing
      > presses were revved to full speed.

      Thanks, quasibill. This is a good article, and Hudson's one of my
      favorite CP writers anyway.

      I'm in the process of revising Ch. 3 of my org theory manuscript to
      incorporate a section on the role of the central banking system in
      promoting large organizational size (especially through
      "malinvestment" in excessively "roundabout" modes of production), so
      this is the kind of thing I'm looking for.

      Especially interesting was the observation that a low discount rate
      doesn't necessarily translate into low interest rates for ordinary
      people. It's a low interest rate for those standing closest to the
      Fed's money spigot.

      Kevin Carson
      Mutualist Blog: Free Market Anti-Capitalism
      Studies in Mutualist Political Economy
      Anarchist Organization Theory Project
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