Devin Smith

MINSKY DOES RIO: Notes from a Conference – New Economic Perspectives

I recently returned from conference in Brazil jointly sponsored by the Levy Economics Institute, the Ford Foundation, and the Brazilian research group MINDS. It is part of a bigger project to take Hyman P. Minsky global. In my view, Minsky was hands-down the greatest economist of the second half of the twentieth century and he deserves the attention he’s getting. Watch for an upcoming film by Monty Python’s Terry Jones that will feature Minsky and his work. Minsky will even make an appearance—or, more accurately, a bigger-than-life Minsky puppet will be in the film. (Steve Keen and I were also interviewed.)

The Divine Right of Bankers: Sorkin Proves Baroness Orczy Correct – Bill Black

In yesterday’s column I discussed the fact that Andrew Ross Sorkin (ARS) of the New York Times and CNBC has unmasked himself in a video entitled “Two Myths and One Reality” as the scourge of Wall Street who had worked tirelessly for five years to find the “criminal element” that caused the financial crisis.

The SEC Flacks Paint Lehman’s Looters as the Victims of a “Political” SEC – Bill Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. This is the second installment in a three-part series correcting the NYT propaganda that seeks to transmute the SEC’s refusal to hold any of Lehman’s looters accountable for their myriad frauds.  For the purposes of this article…

Not with a Bang but a Whimper – the SEC Enforcement Team’s Propaganda Campaign – Bill Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. The New York Times has one of those “inside” stories that unintentionally demonstrate the collapse of justice and financial reporting.  This genre involves the media reporting gravely (and uncritically) the administration’s claims that its failure to prosecute…

Guaranteed Income or Employment: Economic Rights for the 21st Century – New Economic Perspectives – Video

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. Guaranteed Income or Employment: Economic Rights for the 21st Century Video from the Modern Money and Public Purpose series. This is Lecture 8 on economic rights and features Pavlina Tcherneva and Philip T. Harvey Guaranteed Income or…

Bhide: Pick a “Boring” Fed Chair because Supervision is the Key and it requires “Dullness” – William K. Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By William K. Black This is my second column discussing Federal Reserve (Fed) regulation in the context of the question of who President Obama should appoint to be Ben Bernanke’s successor.  This column focuses on the sudden…

Stick Figure Economics – New Economic Perspectives

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By Matthew Berg If you have ever taken an introductory economics course – or any economics course* – then you have experienced the wonder and the majesty of stick figure economics. Stick figure economics treats mankind as…

Think Global, Act Local: the SacBee Needs to Write about its U.S. Attorney – William K. Black

This is a syndicated repost courtesy of New Economic Perspectives. To view original, click here. Reposted with permission. By William K. Black The Sacramento Bee is a paper with a fine pedigree that just wrote a powerful editorial entitled: “Wall Street needs to be schooled in the rule of law.”  “When the president feels the…

Conservatives and Libertarians should Support the Return of Glass-Steagall – William K. Black

Glass-Steagall prevented a classic conflict of interest that we know frequently arises in the real world. Commercial banks are subsidized through federal deposit insurance. Most economists support providing deposit insurance to commercial banks for relatively smaller depositors. I am not aware of any economists who support federal “deposit” insurance for the customers of investment banks or the creditors of non-financial businesses.