tag:blogger.com,1999:blog-4900303239154048192.post644072277070057459..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Constant Capital and the Crisis in Contemporary CapitalismUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4900303239154048192.post-40929624483640867712010-03-27T06:32:16.357-04:002010-03-27T06:32:16.357-04:00Greg Mankiw has a blog post on Brooks' column ...Greg Mankiw has a blog post on Brooks' column that is somewhat critical.Shag from Brooklinehttps://www.blogger.com/profile/07312591102812315460noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-80769961346202321602010-03-27T05:03:57.268-04:002010-03-27T05:03:57.268-04:00Michael, after reading David Brooks' NYTimes c...Michael, after reading David Brooks' NYTimes column yesterday, I'm confused about what Phase you and other economists at this Blog may be in. Personally, I think this column was Brooks' not-so-subtle way of trying to knock his fellow columnist Paul Krugman, an economist, down a peg without mentioning Krugman by name and attacking economics as a whole. Brooks has been lost in political punditry after the 8 inglorious Bush/Cheney years and has been trying to find his way as a conservative. Of course his recent column is full of holes. Hopefully economists will respond.Shag from Brooklinehttps://www.blogger.com/profile/07312591102812315460noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-83058679300314779712010-03-26T12:48:55.755-04:002010-03-26T12:48:55.755-04:00Yes, you got it. Thanks.Yes, you got it. Thanks.michael perelmanhttps://www.blogger.com/profile/01520556020371833990noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-82768789564438196422010-03-26T11:52:15.820-04:002010-03-26T11:52:15.820-04:00I think I actually understand some of this busines...I think I actually understand some of this business you have presented. You are interested in being able to account for what is happening and to possibly predict what will happen as technological innovation reduces the need for labor and the lenders of money manage to take advantage of everyone. I am reminded of the farmer that has no choice but to buy a new tractor or lose the farm. He simply can't produce enough to survive UNLESS he fertilizes and uses the new capital.<br /><br />And as all the proprietors rush to be more productive then the amount of produced goods forces prices down and the bank (which accounts for magically created money and produces nothing) is the only winner.TheTruckerhttps://www.blogger.com/profile/10346127768102862741noreply@blogger.com