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I just finished watching the “debate.”  What really stood out to me is the
simplicity (in the pejorative sense) of Moore’s thought.  In advancing the
old supply-side arguments, he notes that production is paramount; that
obviously consumption requires production.  That is surely true.  But what
he fails to say is equally true.  Production requires consumption.  Within
the capitalistic order, the stuff has to be sold in order to generate
profits and the consumers must work to make the stuff.  We can avoid this
gnarly “chicken or egg problem” by approaching the problem in general
equilibrium terms.  Ladle on adequate mathematics and one might even forget
what’s at stake whilst deriving first-order conditions.  Leontieff’s *idiots
savant  *come to mind.

That will however only mask the miasma.  We must ultimately confront the
issue of which matters more.  Moore clearly exalts the producer (capitalist
class); giving a nod to the need to protect the “old  people” whilst we
release the producers from impound in these perilous times.  Randy’s focus
is ultimately all about the worker/consumer (and the fate of
civilization/planet).  Profits vs. people in stark contrast on this May
day.  Schumacher comes to mind.  (I read it when it came out, perhaps
making me one of those folks Moore deems worthy of special protection even
though I am not old enough to have witnessed the failure of the new deal.)

I am well aware this is not news to any of you but it gives me a way to
wish you all a happy May Day.


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<#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2>

On Fri, May 1, 2020 at 11:16 AM Wray, Randall <[log in to unmask]> wrote:

> Job Guarantee for New Zealand:
> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.rnz.co.nz_news_covid-2D19_415421_cat-2Dmaclennan-2Dpost-2Dcovid-2D19-2Djob-2Dguarantee-2Dscheme-2Da-2Dbold-2Dsolution&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=raQ75G6LfRTj_4Ubx9nggAjcl8r2S6cadbbxjY82DMQ&e= 
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.rnz.co.nz_news_covid-2D19_415421_cat-2Dmaclennan-2Dpost-2Dcovid-2D19-2Djob-2Dguarantee-2Dscheme-2Da-2Dbold-2Dsolution&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=sZMnycRvaxjOcHbfFklB0uakgM2vyolrZyPIzxg7ayA&e=>
>
> I debated Steve Moore, Trump's man to reopen the economy. It was fun and
> surreal.
>
> You can view the video here:
> https://urldefense.proofpoint.com/v2/url?u=https-3A__twitter.com_linuxie_status_1254035219004481541-3Fs-3D20&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=hj5xZwb3-1l9FB5WZoYf0jKxxDdNPh_u06J71hAgkCE&e= 
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__twitter.com_linuxie_status_1254035219004481541-3Fs-3D20&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=pVVbI3NQ0QkQbpmf_ILAKmhPldYOnRofd2l5vVggfYA&e=>.
> No help for blue states; let them all go bankrupt; open up the Red states
> and let everyone in the blue states go green with envy. The New Deal was a
> failure. Lots of other stuff you didn't know.
>
>
> As an antidote to crazy, Pavlina spoke with the New Yorker on how to
> reopen the economy:
>
> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.newyorker.com_business_currency_how-2Dwill-2Dwe-2Dreopen-2Dthe-2Deconomy-2Dafter-2Dthe-2Dcoronavirus-2Dcrisis&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=lW3VRIa8eYRhQWRi8mZmAHkv5D153o6Lxont6d1rcis&e= 
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.newyorker.com_business_currency_how-2Dwill-2Dwe-2Dreopen-2Dthe-2Deconomy-2Dafter-2Dthe-2Dcoronavirus-2Dcrisis&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=2gJt8EfWNwLe46itEoK_o-d2-E58N20mCZUFHNCiicg&e=>
>
>
>
>
>
>
> L. Randall Wray
> Senior Scholar, Levy Economics Institute
> Papers: https://urldefense.proofpoint.com/v2/url?u=http-3A__www.levyinstitute.org_publications_-3Fauth-3D287&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=MfZNUM4TnjOjAhGddVqz_xU5uV2eXzfLLnEhjScXBqQ&e= 
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.levyinstitute.org_publications_-3Fauth-3D287&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=4LYJycXeembK5CC_mfqx0ucWsS3oTIqHM_PMG1-dXEQ&e=>
>
> Professor of Economics, Bard College
>
>
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.levyinstitute.org_publications_-3Fauth-3D287&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=4LYJycXeembK5CC_mfqx0ucWsS3oTIqHM_PMG1-dXEQ&e=>Emeritus
> Professor, University of Missouri-Kansas City
>
> Co-editor *Journal of Post Keynesian Economics*
> ISSN 0160-3477 (Print), 1557-7821 (Online)
> https://urldefense.proofpoint.com/v2/url?u=http-3A__www.tandfonline.com_toc_mpke20_current&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=iZ08cAahp41w0FSEac3jWUgbLOimNUbojbMNso9yjpc&e= 
> https://urldefense.proofpoint.com/v2/url?u=http-3A__www.tandfonline.com_toc_mpke20_current&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=iZ08cAahp41w0FSEac3jWUgbLOimNUbojbMNso9yjpc&e= 
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.tandfonline.com_toc_mpke20_current&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=9olJyRrC6QK9bA1ThbJUtmATgd-SPEQWj2-kgwVEnGE&e=>
>
>
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.tandfonline.com_toc_mpke20_current&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=9olJyRrC6QK9bA1ThbJUtmATgd-SPEQWj2-kgwVEnGE&e=>
>
> Recent Books:
>
> *A Great Leap Forward: Heterodox Economic Policy for the 21st Century*;
> Randall Wray; Paperback ISBN: 9780128193808; Academic Press; Published
> Date: 22nd January 2020;
> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.elsevier.com_books_a-2Dgreat-2Dleap-2Dforward_wray_978-2D0-2D12-2D819380-2D8&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=ACKr3-3rkCl94p05H67yQOecJb2ruT8MS2ViglcTyPw&e= 
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.elsevier.com_books_a-2Dgreat-2Dleap-2Dforward_wray_978-2D0-2D12-2D819380-2D8&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=WR-nQwmOKB84m3vktvqgoDCkrSqSRzZoP_g9vtMZdyU&e=>
>
>
>
> *Macroeconomics*; Author(s): William Mitchell, L. Randall Wray, Martin
> Watts; Red Globe Press, Macmillan International; February 2019;
> https://urldefense.proofpoint.com/v2/url?u=https-3A__www.macmillanihe.com_page_detail_Macroeconomics_-3FK-3D9781137610669&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=gad5CT87vcWDdMxcu1oXmpi-d9HiYFgD6fH_1aB32cU&e= 
> <https://urldefense.proofpoint.com/v2/url?u=https-3A__www.macmillanihe.com_page_detail_Macroeconomics_-3FK-3D9781137610669&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=iu0m-DElY9dvPx_KnBpiKykP057sdhCu-UebyQ19zz0&e=>
> .
>
>
>
> *Why Minsky Matters: An Introduction to the work of a maverick economist, *Princeton
> University Presshttp://press.princeton.edu/titles/10575.html
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__press.princeton.edu_titles_10575.html&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=-cpEXwuem4-76eZAMMFZOR5Vtskdmh_L9mkMCdpIQj0&e=>
>
>
>
> *Modern Money Theory: a primer on macroeconomics for sovereign monetary
> systems*, Palgrave Macmillan
> https://urldefense.proofpoint.com/v2/url?u=http-3A__www.palgrave.com_page_detail_modern-2Dmoney-2Dtheory-2Dl-2Drandall-2Dwray_-3Fisb-3D9781137539908&d=DwIFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=jQzq3kNKgoKrrH11nQev5TLZqryCtSmJQIr7ZNJeTbw&s=2Ib5KTgt_6nPiHYLs1xlqXLRyk9mKcVggb-PHHR7-ko&e= 
> <https://urldefense.proofpoint.com/v2/url?u=http-3A__www.palgrave.com_page_detail_modern-2Dmoney-2Dtheory-2Dl-2Drandall-2Dwray_-3Fisb-3D9781137539908&d=DwMFAw&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=nqkgMxM6E-9N5hr6VQQ878ZQibsfUUeFp_0-uhTguI0&s=4jiYi2NZ8Nm2V1epSMIwjE1ir-GFQ0norpJl7mwe9uo&e=>
>
>
>
>
>
>
> Please make note of my new email address as I will be transitioning all
> email to:
> [log in to unmask]
>


-- 
Brian Eggleston, Ph.D.
Department of Economics
Augustana University
Sioux Falls, SD 57197



Expose yourself to your deepest fear; after that, fear has no power and the
fear of freedom shrinks and vanishes.  You are free.      Jim Morrison (The
Doors)

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