Dear Steve, I am a Lecturer in the Netherlands and deeply interested in the interaction between the real and financial systems, especially the roles of credit...
Michael, I had just drafted an email to him before I opened this! So watch the next one. I read your paper with Sommers on Latvia. Well written, no comments. ...
Dear Gunnar, You write This functional correspondence is the essence of the Production Process in Entrepreneurial Market Economies, with Entrepreneurial Profit...
Dear Dirk. Steve Keen listed me in Debunking Economics among individuals with whom he had interacted fruitfully on the book's subject matter. But there is no...
Gunnar, That's good news (about Keen). But I will persist in linking the real world to your analysis! I think of this not as unsquarable but as complementary...
So to me, the chart shows that FIRE sector debt is utterly decoupled from the ³real² economy. Is that indeed your point? Michael ... Re: [gang8] now...
It is indeed, Michael. Plus another point: debt growth is because of credit going to the FIRE sector. If all went to the real sector, the debt-to-GDP ratio...
Gunnar, I trust you are taking into account that new credit creation has a multiplier effect, and is spent or lent many times over. Geoff ... From: Gunnar...
Geoff, Yes. The answer to the "question [how profit and interest can exist without new money creation - insert]†is independent of A lending/giving part of...
Dear Dirk. Here are brief comments on Keen's paper which I read yesterday. I. The theory of the monetary circuit—known as “Circuit Theoryâ€â€”has made ...
Gunnar, I have been slow to deal with all the messages which awaited me after our tour, and I have has to prepare a lecture to be given tomorrow on the banking...
Are the liabilities of the Issue Department of the Bank of England treated as part of National Debt? I would include them. The issue of banknotes has a limit,...
Michael, While the analysis is superb I have problems with the idea that a land tax will help. Such a tax reduces property values, so surely it makes the debt...
I¹m told that at last count only 85% of Latvians had mortgages. Mainly the wealthiest ones. Re a ³good move,² it¹s always better to have property debt free...
Dear Geoffrey, It's not a liability to anyone, least of all the government. It was a liability when they were convertible to gold. Regards, Richard _____ From:...
Dear Richard, Convertible to gold at one time, convertible to tax receipt today. Gunnar _____ From: gang8@yahoogroups.com [mailto:gang8@yahoogroups.com] On...
Dear Gunnar, Absolutely. However a tax receipt is not a liability to the government. It is evidence that tax payers’ liabilities have been paid. Geoffrey is...
Geoffrey, What is the percentage of farmers in Britain who are tenants and/or hired hands? What is the percentage of farms operated by corporations? In Germany...
I agree with Gunnar's view. The government treats the note issue as a liability and credits notes to bank deposits when banks pay in excess notes, something...
Dear Richard, I just checked Gang8 on the Internet and saw your message in reply to my comment. For some reason, your message did not show up in my email...
hi Gunnar and others, Here is also Steve's response to me. I haven't taken the time to think through it yet. best, Dirk Hi Dirk et al, I appreciate the...
Hi Steve. In the 1980s I corresponded briefly with James Tobin on conceptual issues related to his survey article in the 1969 inaugural issue of a journal on ...
I attach a formatted copy of an article that will appear tomorrow in Counterpunch and Global Research. Michael What Should Countries Do With Their Central Bank...
Richard, I do not know the latest figures, but I suspect there is a high level of owner occupation. The 1948 Agriculture Act controlled rents, so just as with...
Dear Gunnar, you wroite 'I soon realized that these ideas were implicit in Quesnay’s Tableau Economique and Say's Law.' It's interesting you mention this,...
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