>1. From Warren Mosler's "Full Employment and Price Stability," ~Journal
>of Post Keynesian Economics~, Winter 1997-98:
[etc]
>2. From Paul Einzig, ~The Economic Foundations of Fascism~, London:
>Macmillan, 1933, pages 47-56:
>
[etc]
Oh, I get it, anyone advocating a public jobs program is a fascist. Swedish social democrats too?
Bill Mitchell asked me to post this response. Since he's been personally attacked by William Ryan, it's his right to lob one back. After that, no more on this topic.
Doug
----
I am not yet a list member but it seems i am being mentioned by that idiot bill ryan who has finally given up annoying PKT with his nonsensical accusations about people.
The attempt to fit myself and warren mosler as fascists who are only a (goose) step away from marching all the unemployed into detention camps where we will be more concerned with increasing the gold reserves of the state than anything else is ludicrous in the extreme.
even his attempt below at matching quotes is pathetic. Speaking for myself, (not warren), the reference to bond financing is rejected by me. Also to imply that there are valid orthodox "textbook" rules, which are violated by full employment strategies is also rejected by me.
further, he is such a crook that he only includes bits of people's writings and attempts to misinterpret them. The reference to a pkt letter I sent starting with Bullshit was only a small part of what I wrote. I had gone on to argue that people who were unable to work should be fully supported with a guaranteed income suitable to live a reasonable material life.
my concern was that i still don't think anyone has a right to expect state support if they can help themselves. where the state comes in for those people is to make sure there is work for them to do.
kind regards bill
#### ## William F. Mitchell
####### #### Head of Economics Department
################# University of Newcastle
#################### New South Wales, Australia
###################* E-mail: ecwfm at cc.newcastle.edu.au
################### Phone: +61 49 215065
##### ## ### Fax: +61 49 216919
Mobile: 0419 422 410
##
WWW Home Page: http://econ-www.newcastle.edu.au/~bill/billeco.html
================
[Ryan's juxtaposed quotes]:
>1. From Warren Mosler's "Full Employment and Price Stability," ~Journal
>of Post Keynesian Economics~, Winter 1997-98:
>
>"Any government can achieve full employment by offering a public service
>job to anyone who wants one at a fixed market wage...by fixing the wage
>paid under this ELR program at a level that does not disrupt existing
>labor markets--that is, a wage level close to the existing minimum
>wage--substantive price stability can be expected.
>
>"Adoption of an ELR program would permit the elimination of many
>existing government welfare payments for anyone not specifically
>targeted for exemption..."
>
>2. From Paul Einzig, ~The Economic Foundations of Fascism~, London:
>Macmillan, 1933, pages 47-56:
>
>"In previous chapters we have touched superficially on the intervention
>of the Italian Government in economic activity in the form of
>undertaking public works of an exceptional nature...To a great extent it
>takes the place of the dole...
>
>"A large part of the works have been financed by the issue of Treasury
>bonds...
>
>"The Italian nation trusts its Government implicitly. For this reason
>there is no danger either in unbalancing the budget for the sake of
>capital expenditure...It may be contrary to the principles of orthodox
>banking and finance, but the special position of the Fascist Government
>fully justifies its departure from textbook rules in this respect..."