Saturday, February 18, 2012

Points of Public Interest

  1. Up to Speed, but Still Lagging Behind and "Memento", the Meltdown and the Mainstream - Matias Vernengo notes how a recent survey of mainstream economists, meant to offer an ex post explanation of the financial crisis, fails to acknowledge the numerous contributions of heterodox economists ex ante. Gerald Epstein expands the list of economists, who are broadly trained in the ideas of Keynes and Minsky. Both articles include links to some very important papers and ideas still overlooked by mainstream economists.
  2. So, what would your plan for Greece be? - Over at Crooked Timber they have created an interesting, fun “Choose Your Own Adventure” for resolving Greece’s current troubles. (h/t The Reformed Broker)
  3. Face the Music - Excellent interview with Lacy Hunt of Hoisington Investment Management. Hunt approaches investing from a non-equilibrium economic perspective that focuses on debt levels across sectors of the economy. My belief that 30-year Treasuries will ultimately touch 2% in this cycle is shared by Hunt.
  4. What the Austrian Business Cycle Theory Can and Cannot Explain - Steve Horwitz argues that the “ABCT is not a theory of the causes of the length and depth of recessions/depressions, but a theory of the unsustainable boom.”
  5. More on Savings and Investment - Michael Sankowski directs us to Steve Waldman, who explains why a government deficit is not necessary for the household sector to increase savings.
  6. LTRO: A User's Manual (h/t Zero Hedge)

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