The Great Recession - Economist Dean Baker

Economist Dean Baker from the Center for Economic and Policy Research examines the nation's current recession and the prospects for recovery. This program was recorded by Chicago Access Network Television (CAN TV). To purchase a DVD, contact CAN TV's Community Partners at (312) 738-1400 or at communitypartners@cantv.org.

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News & Politics

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• great
• recession
• dean
• baker
• can
• tv
• chicago

[Salvysahagun]

@NoExitLoveNow

I'll look into the interview he gave on Olberman where he was discussing the negociation process.

I'm a little busy now,

[NoExitLoveNow]

@Salvysahagun You mix fantasy with reality. Paul Krugman is not a negotiator for the left. He is a columnist, commentator, and college professor. You really should stick to the facts, plain and simple or subtle and complicated..

[Salvysahagun]

@NoExitLoveNow

It is a fact that Paul Krugman was the lead negociator of the left. Dean Baker opposed the bail out while Krugman Supported. plain and simple

[Salvysahagun]

@mojorhythm

FDR = Employer Class

State intervention is what makes Industrial Capitalism or Industrialism work. FDR knew that.. He was the last president to have a direct link to the American System of Economics and Alexander Hamilton. IE his Great grandfather Isaac Roosevelt co-founded the Bank of New York with Hamilton.

Socialism and Facism where on the rise where it not for FDR, The United States would have ceased to exist.

[NoExitLoveNow]

@Salvysahagun Whatever your beliefs about other subjects, it is a fact that Krugman did not design the bank bailouts.

[mojorhythm]

@Salvysahagun That's right. It proves my point that you need massive state intervention to give capitalism a human face. In this case, border enforcement by the State keeps the reserve pool of workers artificially low, thereby raising the standards of living of the workers within those borders.

[mojorhythm]

@Salvysahagun "I will advise you that Marx is a very dangerous figure."

That's kind of a blanket generalization as well.

It's irrelevant that FDR came from a family of bankers. His reforms saved capitalism from itself. If he did not, there would have been some kind of revolution. The working class was extremely militant during the GD, calling for socialism left, right and center.

[Salvysahagun]

@mojorhythm

You realize during the American Gilded Age the prime reason for the bad working conditions was immigrants keeping labour standards low. Aswell as the Lincoln Republicans push for protectionism which enhanced American markets at very high levels.

[mojorhythm]

@mojorhythm Markets are an inherently poor mechanism to allocate societal resources because the pricing mechanism does not take into account the effect that transactions have on third parties. In a capitalist economy, governments can deal with this problem by taxing negatives and subsidizing positives, but those regulations inevitably get weakened and/or removed by the employer class over time.

[mojorhythm]

@Salvysahagun Capitalism based on manufacturing and exports still leaves in place the employer-employee divide, and the market mechanism for allocating resources. It will just lead right back to the same thing all over again, given that it is inherent for the interests of the employer to contradict the interests of the working class.