Thursday, February 21, 2019

Bill Black: Modern Monetary Theory Is On the March (#MMT)

A recent Wall Street Journal article that tried debunking MMT effectively supported it.

CalPERS Chief Investment Officer Ben Meng Lied About Private Equity to State Senator Dr. Richard Pan at Joint Pension Committee Hearing

CalPERS lied to the wrong person. State Senator Dr. Richard Pan is smart enough to know he was snookered when word gets back to him.

CalPERS’ Management Continues to Lie to Its Board and Beneficiaries About Its Private Equity Scheme

CalPERS is once again up to no good on the private equity front.

The Financial Crisis Was a Minsky Moment but We Live in Strange Times

Why has Susan Strange been reputationally short changed as an expert in financial instability?

2:00PM Water Cooler 2/18/2019

Today’s Water Cooler: Open thread

Wellbeing Measurements, Easterlin’s Paradox and New Growth Models: A Perspective through Gross National Happiness

Examines new growth models, especially Bhutan’s, which has pursued gross national happiness, rather than GDP, since the 1970s.

Links 2/18/19

How Imperfect Knowledge Shapes Financial Markets

A discussion of various theories of how financial markets set prices.

Has America Always Embraced Capitalism?

History shows that capitalism isn’t natural or normal, strengthening the belief that we can create something better.

Even More on “Is CalPERS Private Equity Architect John Cole So Clueless He Doesn’t Know He’s Lying?”

It has taken three posts to unpack all the lies that John Cole told CalPERS’ board in December about its new private equity scheme.

Links 2/17/19

The Green New Deal’s Huge Flaw

Unsprawling America isn’t as hard as it sounds.

Links 2/16/19

Hubert Horan: Can Uber Ever Deliver? Part Seventeen: Uber’s 2018 Results Still Show Huge Losses and Slowing Growth as IPO Approaches

It is hard to see how Uber’s IPO story will hold up to scrutiny, particularly at a planned valuation of $120 billion.

Can Shareholder Activism Tame the Financial System?

Is shareholder activism capable of achieving lasting change?