by
Geoff Mann
neoliberalism
(en)
the postulate that markets are organised most effectively by private enterprise and that the private pursuit of accumulation will generate the most common good; accomplished by opening international markets and financial networks, and downsizing the welfare state
141
Neoliberalism is a term currently used only by its critics; its champions, including the leaders of most capitalist countries, do not proclaim themselves "neoliberals."
defined over the next few paragraphs, using the IMF (note 835)
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6 years, 9 months ago
Neoliberalism is a term currently used only by its critics; its champions, including the leaders of most capitalist countries, do not proclaim themselves "neoliberals."
defined over the next few paragraphs, using the IMF (note 835)
notable
6 years, 9 months ago
insuperable
(en)
(adjective) incapable of being surmounted, overcome, passed over, or solved
147
spatial problems that used to seem insuperable are increasingly understood in terms of their temporal features
on Marx's compression of space-time
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6 years, 9 months ago
spatial problems that used to seem insuperable are increasingly understood in terms of their temporal features
on Marx's compression of space-time
notable
6 years, 9 months ago
neoliberalism
(en)
the postulate that markets are organised most effectively by private enterprise and that the private pursuit of accumulation will generate the most common good; accomplished by opening international markets and financial networks, and downsizing the welfare state
148
Neoliberalism is the ongoing effort, in an inevitably uneven global political economy, to construct a regulatory regime in which the market is the principal means of governance and the movement of capital and goods is determined as much as possible by firms' short-term returns.
manages to be both neutral and scathing at the same time. p impressed
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6 years, 9 months ago
Neoliberalism is the ongoing effort, in an inevitably uneven global political economy, to construct a regulatory regime in which the market is the principal means of governance and the movement of capital and goods is determined as much as possible by firms' short-term returns.
manages to be both neutral and scathing at the same time. p impressed
notable
6 years, 9 months ago
financialization
(en)
the process whereby the financial industry becomes more prominent
155
In general, financialization describes the increasing role of financial motives, financial markets, financial actors, and financial institutions in the operation of domestic and international economies. Second, from a more technical or specific perspective, financialization is a pattern of capitalist accumulation that relies increasingly on profit-making through financial channels, even for capitalists that are not themselves financial firms.
notable
6 years, 9 months ago
In general, financialization describes the increasing role of financial motives, financial markets, financial actors, and financial institutions in the operation of domestic and international economies. Second, from a more technical or specific perspective, financialization is a pattern of capitalist accumulation that relies increasingly on profit-making through financial channels, even for capitalists that are not themselves financial firms.
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6 years, 9 months ago
Fordism
(en)
the use in manufacturing industry of the methods pioneered by Henry Ford, typified by large-scale mechanized mass production
157
Investment stayed up for a variety of reasons [...] the political peace between big labour unions, big business, and big government (part of what gets called "Fordism") that characterized this era provided, in a broad sense, a guarantee of high wages, low industrial conflict, and high profits
notable
6 years, 9 months ago
Investment stayed up for a variety of reasons [...] the political peace between big labour unions, big business, and big government (part of what gets called "Fordism") that characterized this era provided, in a broad sense, a guarantee of high wages, low industrial conflict, and high profits
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6 years, 9 months ago
a domestic tax measure implemented by U.S. President John F. Kennedy in July 1963 and lasting until 1974; meant to make it less profitable for U.S. investors to invest abroad by taxing the purchase of foreign securities
160
the "interest equalization tax" [...] imposed an export tariff on all US capital leavin the nation at a rate that equalized opportunities for financial profit at home and abroad
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
notable
6 years, 9 months ago
the "interest equalization tax" [...] imposed an export tariff on all US capital leavin the nation at a rate that equalized opportunities for financial profit at home and abroad
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
notable
6 years, 9 months ago
Regulation Q
(en)
Federal Reserve regulation. from 1933 until 2011: imposed various restrictions on the payment of interest on deposit accounts; after 2013: slightly different version setting capital requirements for US banks
160
Regulation Q capped interest rates on domestic demand deposits (basically savings and checking accounts [...]). This was designed to (a) discourage local banks from depositing their money with big banks, and instead to lend local locally, and (b) limit competition among banks, thereby ensuring the stability and survival of those same local banks.
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
the "local locally" part is, I think, a typo in the original
notable
6 years, 9 months ago
Regulation Q capped interest rates on domestic demand deposits (basically savings and checking accounts [...]). This was designed to (a) discourage local banks from depositing their money with big banks, and instead to lend local locally, and (b) limit competition among banks, thereby ensuring the stability and survival of those same local banks.
mentioned as one of the best-
known capital controls implemented in the US during the Long Boom
the "local locally" part is, I think, a typo in the original
notable
6 years, 9 months ago
inflationary bias
(en)
the outcome of discretionary government policy that, under perfect foresight in the labor market, leads to a higher than optimal level of inflation and no transitory income increase
166
the wide belief among neoclassical economists and neoliberal policy-makers that democracy has an inherent "inflationary bias"
used as justification for putting central banks outside the reaches of democracy (insulating them)
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6 years, 9 months ago
the wide belief among neoclassical economists and neoliberal policy-makers that democracy has an inherent "inflationary bias"
used as justification for putting central banks outside the reaches of democracy (insulating them)
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6 years, 9 months ago
Minsky moment
(en)
a sudden major collapse of asset values which is part of the credit cycle or business cycle, which will occur because long periods of prosperity lead to increasing speculation using borrowed money; named after 20th century economist Hyman Minsky
169
The implosion of the subprime mortgage market in the US is frequently called a "Minsky moment."
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6 years, 9 months ago
The implosion of the subprime mortgage market in the US is frequently called a "Minsky moment."
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6 years, 9 months ago
naked shorting
(en)
the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale
173
This so-called "naked" shorting is risky
footnote 59
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6 years, 9 months ago
This so-called "naked" shorting is risky
footnote 59
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6 years, 9 months ago