Archive for the Noble Prize in Eco-nomics Category

Everything Monopolized, Nothing Economized.  Completion Of “The General Theory Of Economics” Is In Remission . . .  Oh, And Happy Halloween! (October 29, 2018)

Posted in Economics, Economics Nobel, Market Solutions, Markets, Monopoly, Noble Prize in Eco-nomics, Price, Technology on October 29, 2018 by e-commentary.org

. . .

J          “Bummer.  After all that time and thought.”

K          “And all that fun.  I tell you I realized that if it was going to be done and if it was going to be done right, I would have to do it to get it done right.”

J          “Been there.  Done that.”

. . .

K          “A construct such as the IS-LM model is largely malarkey but is heuristically valuable.  Today, the fundamental problem trying to describe and direct the operation and function of the economy is that there really is not an operating and functioning economy.  With all of the distortion, intervention and manipulation, price is not tied to anything real.  Every business, every single business in every single industry, is a monopoly.  The business is the industry; the industry is the business.  From pork to politics.”

J          “Yet only a few folks have discovered and understand that we cannot discover price.  Price discovery now is so passé.  Without price, we cannot communicate in the economic marketplace.  And the central bankers working alone and together destroyed the language of the marketplace.”

. . .

K          “He left Iowa with his father marketing the hogs to five potential buyers and returned to find that one buyer sets the price.”

J          “And both Senators from Iowa are Republicans.  You don’t have to ‘go figure’ when ‘it figures’ so clearly.”

. . .

J          “And the Swedish central bankers reward those individuals who provide the economic cover for the crimes and misdemeanors of all the central bankers by giving their ignoble ‘Nobel’ Prize in E-con-omics to the most successful errand boy or girl.”

K          “The Noble Prize in Eco-nomics is the part of the answer.”

. . .

J          “The most vexing monopoly is the government/corporate syndicate that precludes any competing alternative entity.”

K          “The twisted irony is that most industries, and all the major tech industries without exception, are basically ‘natural monopolies’ and thus ‘utilities’ such as the water company.  A utility is a monopoly.  A monopoly must be regulated.  Yet the tech companies/tech utilities own the government and quash any regulation.”

. . .

J          “The Republican political monopoly firmly supports the current economic monopolies who in turn own the Republican political monopoly.  The Death Spiral is spiraling but not changing.”

K          “In a fortnight, the slow boiling coup d’état by the Republicans could be completed by the Republicans.  If the Democrats do not take the House, the control of government will be concentrated in one mega-corporation – the Republican Party, Inc. / the Corporation, Inc.  The political ‘campaign’ is aptly namely for battle because the Democrats are charging east up Jenkins Hill trying to retake the southern flank of the Capitol and the House of Commons under intense enemy fire.  We need to hire the friends and fire the enemy.”

J          “The Presidency is a lock, the Judiciary is the stock and the Congress is the barrel.  Lock, stock and barrel.” 

K          “For the next two years at least, the Presidency is indeed a lock for the Republicans.  For the rest of our time on this Planet, the judiciary is a laughing stock and a wholly-owned subsidiary of the Republican Party, Inc. / the Corporation, Inc. doing their bidding.  And the Republican Congress has the ordinary citizen over a barrel.”

J          “Hook, line and sinker.  We are hooked, they have us firmly on the line and all of us are sunk.”

. . . 

[See the discussion in “This is Not a Market” in “The Automatic Earth” by Raul Ilargi Meijer dated April 23, 2018.]

[See the scary e-commentary last Halloween at “Are ‘Prices’ Language?  Are Antitrust Laws Grounded In The First Amendment?  How Do We Forestall The ‘Frightful Five’ And Other Monopolies. Oh, And Happy Halloween! (October 30, 2017)”.]

Bumper sticker of the week:

Free markets now!

Third Annual Noble Prize In Eco-nomics (October 8, 2018)

Posted in Awards / Incentives, Economics, Economics Nobel, Nobel Prize, Noble Prize, Noble Prize in Eco-nomics on October 8, 2018 by e-commentary.org

. . .

K          “An award dedicated to acknowledging and celebrating the work of someone on the planet who really knows something about eco-nomics.  Eco-nomics is about making and sharing; e-con-omics is about taking and stealing.”

J          “The Noble Prize in Eco-nomics is a delightful and playful replacement for the discredited and misnamed ‘Nobel’ Prize in Voodoo E-con-omics.  And I get it.  You get what you reward.  You need to reward what you want to get.  Who gets it this year?”

K          “The recipient of the third annual Noble Prize In Eco-nomics is . . . Ellen H. Brown who writes and speaks about money, banking, financial reform and the need for publicly run banks.  A lawyer and political candidate, Ms. Brown is the founder and president of the Public Banking Institute, a nonpartisan think tank researching and advocating for the creation of publicly run banks.  She has authored twelve books including Web of Debt and The Public Bank Solution, speaks regularly on these topics and crafts the “Web of Debt Blog.”  Her considerable corpus of work is undergirded by the conviction that eco-nomics should be concerned with pursuing the public good not just producing goods.”

. . .

J          “The ‘Nobel’ Prize in Voodoo E-con-omics is given by the Swedish Central Bank to someone who advances the interests of the central bankers or at least does not threaten them.  Their selections are not surprising.  Ellen Brown is number ‘n’ on the central bankers’ list of possible recipients.” 

K          “Bill Black is a co-number ‘n’ on the central bankers’ list of possible recipients.”  

. . .

K          “The Committee also examined and considered the pioneering work of Professors Mark Skidmore and Laurence  J. Kotlikoff who have contributed immensely and without enough credit to tracking and analyzing federal expenditures that are not on the books or part of the public discussion.”

. . .

[See the “Intergenerational Financial Obligations Reform Act” (INFORM Act), “Has Our Government Spent $21 Trillion Of Our Money Without Telling Us?” in “Forbes” by Laurence Kotlikoff and Mark Skidmore dated December 8, 2017 and “Heretics welcome!  Economics needs a new Reformation” in “The Guardian” by Larry Elliott dated December 17, 2017.]

[See the e-commentary at “Second Annual Noble Prize In Eco-nomics (October 9, 2017)”, “First Annual Noble Prize In Eco-nomics (October 10, 2016)”, “Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)”, “Award Deadlines (Livelines?) (July 25, 2016)”, “From e-con-omics to eco-nomics? (August 1, 2011)”, and “Skip the Nobel in Economics (October 6, 2009)”.]

Bumper stickers of the week:

The life cycle of American business:  Engineers build, salespersons sell, hedge funders loot

When what is known as “e-con-omics” transitioned to “behavioral economics,” the undertaking should have been moved from the department of religion to the department of psychology.  The undisciplined discipline does not require its own department.

Boycott banks; support credit unions

The Unrelenting Daily Assaults, Year Two.  Oh, And Happy New Year! (January 1, 2018)

Posted in Kleptocracy, Noble Prize in Eco-nomics, Taxation, Trumpi, Wall Street, War on January 1, 2018 by e-commentary.org

. . .

K          “We embark on another year of unrelenting daily assaults, day in and day out, week in and week out, month in and month out.  A helve and trip hammer of travesties.”

J          “Everything that is decent, civil and moral is constantly crashed, condemned and carpet bombed.”

K          “With Trumpi now coronated the king of the Kleptocracy, the Kleptocrats are kings and in complete control of the Kleptocracy.”

. . .

J          “The Nation’s Saltwater-Crocodile-In-Chief is presiding over the Swilling of the Swamp.”

K          “Donaldo Trumpi and his thugs are dismembering, disemboweling and dismantling the body politic.”

. . .

J          “I have said before, however, that a desperately fragile system is nonetheless irrationally resilient.  Not yet.”

K          “This new year may just be the year of resolution.  There is no center; it cannot hold.  If he does not blow up the world first, Trumpi’s devastating destruction and the American Empire’s already inherent decline may pave the road to a rebuilt and downsized Republic.”

J          “A bad drunk must first hit rock bottom.  The drunk is still staggering.  This country was talking about repaving its roads as part of the redevelopment and rebirth.”

. . .

K          “I resolve to revise and complete the ‘Manual For A Constitutional And Sustainable Post-Empire America’ as my project for the new year.”

J          “We need to maintain some record to guide us during the recovery and the rebuild.  A national road map to redemption.”

. .  .

[David B. Collum, the other David who provides a review of the events of the departing year, delivers his “2017 Year in Review” titled “Markets Fiddle While Rome Burns” available at Peak Prosperity.  John W. Whitehead, the recipient of the 2017 Noble Prize in Jurisprudence, offers a trenchant analysis of our circumstances in “Apocalypse Now:  2017 Was Another Terrible, Horrible, No Good, Very Bad Year” available at The Rutherford Institute.]

[See the e-commentary titled “The Drums of War (February 20, 2012)” presented at the outset of 2012, “‘Mericanize:  Monetize, Mechanize And Militarize (December 30, 2013)” presented at the outset of 2014, “Twenty Sixteen (January 4, 2016)” presented at the outset of 2016 and “Venturing A Few Unfounded And Unwarranted Predictions (July 13, 2015)” presented during the mid-year of 2015.] 

Bumper stickers of the week:

Have an exquisite new year

Repeal and Replace Trumpi

The Tax Deform Bill:  Making The Rich Richer And The Powerful Powerfuler

Tax Deform:  What happened to the post card tax return?

The Year of the Unreal to the Year of the Surreal

2018 – The Year of the Lizard, Act 2

 

Second Annual Noble Prize In Eco-nomics (October 9, 2017)

Posted in Awards / Incentives, Economics, Economics Nobel, Nobel Prize, Noble Prize, Noble Prize in Eco-nomics on October 9, 2017 by e-commentary.org

. . .

K          “An award dedicated to acknowledging and celebrating the work of someone on the planet who really knows something about eco-nomics.  Eco-nomics is about making and sharing; e-con-omics is about taking and stealing.”

J          “The Noble Prize in Eco-nomics is a delightful and playful replacement for the discredited ‘Nobel’ Prize in Voodoo E-con-omics.  And I get it.  You get what you reward.  You need to reward what you want to get.  Who gets it this year?”

K          “The recipient of the second annual Noble Prize In Eco-nomics is . . . Norbert Häring of Planet Earth and Germany.  His considerable corpus of work is undergirded by the conviction that eco-nomics should be concerned with pursuing the public good not just producing goods.”

. . .

[See “There Is No Nobel Prize in Economics” in “AlterNet” by Yasha Levine dated October 12, 2012, “The Nobel family dissociates itself from the economics prize” in “Real-World Economics Review Blog” by Jorge Buzaglo dated October 22, 2010 and “The Beauty (Pageant?) of Economics” in “Federal Reserve Bank of Minneapolis” by Ronald A. Wirtz dated September 1, 1999.]

[See the e-commentary at “Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)”, “Award Deadlines (Livelines?) (July 25, 2016)”, “From e-con-omics to eco-nomics? (August 1, 2011)” and “Skip the Nobel in Economics (October 6, 2009).”]

Bumper stickers of the week:

Eco-nomics is about good; e-con-omics is about goods

Eco-nomics is about making; e-con-omics is about taking

Eco-nomics is about making good; e-con-omics is about taking goods

“There is only one difference between a bad economist and a good one: the bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen.”  Claude-Frédéric Bastiat

First Annual Noble Prize In Eco-nomics (October 10, 2016)

Posted in Awards / Incentives, Banks and Banking System, Courage, Credit Unions, Crime/Punishment, Economics, Economics Nobel, FDIC, Journalism, Kleptocracy, Law, Newspapers, Nobel Prize, Noble Prize, Noble Prize in Eco-nomics, Press/Media, Rule of Law, Song Reference on October 10, 2016 by e-commentary.org

. . .

K          “An award dedicated to acknowledging and celebrating the work of someone on the planet who really knows something about eco-nomics.”

J          “Novel.  Appropriate.  Necessary.  And unprecedented.”

K          “The recipient of the first annual Noble Prize In Eco-nomics is . . . Professor William Kurt Black, Esq. professor of law and economics with the University of Missouri at Kansas City.  With decades of substantial and substantive real world experience, Professor Black examines and explicates the workings of banks and the banking system in the United States and the world with insight and conviction.  In his classic, timely and timeless magnum opus The Best Way to Rob a Bank is to Own One, he advances the conservative notion that those in the banking industry who commit systematic and rampant fraud should be convicted.  In an inspiring TEDxUMKC presentation available at TED the national public forum, he notes that bankers deploy banks as weapons of mass destruction against the public.  Unlike so many other law professors and judges who explore the interface of law and economics, he contends that law and economics should serve more than the interests of the wealthy and the powerful.  A felicitous contributor to the public discourse and dialogue, Professor Black’s continuing academic and personal commitment to the common weal and greater good is a good thing.”

. . .

[“This is Walter Kingsbury Brinkley, XYZ News, New York.  Earlier today, the highly coveted Noble Prize In Eco-nomics was awarded to Professor William K. Black, Esq. of the University of Missouri at Kansas City.  In his most celebrated work, Professor Black contends among other observations that the adoption of the rule of law in America is a swell idea.  In a related development, the Swedish bankers convened and announced the 2016 Nobel Prize in E-con-omics given to the individual who has or individuals who have done the most during his, her or their career to advance the interests of the wealthy and powerful.  . . . “]

[See the e-commentary at “Announcing The First Annual Noble Prize In Eco-nomics (May 2, 2016)”, “Award Deadlines (Livelines?) (July 25, 2016)”, “From e-con-omics to eco-nomics? (August 1, 2011)” and “Skip the Nobel in Economics (Oct. 6, 2009).”]

Bumper stickers of the week:

“Yes, as through this world I’ve wandered I’ve seen lots of funny men; Some will rob you with a six-gun, and some with a fountain pen.”  “The Ballad of Pretty Boy Floyd” by Woody Guthrie (c) 1958 (renewed) Woody Guthrie Publications, Inc.

Give a man a gun and he can rob a bank; give a man a bank and he can rob the world.