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January 2017 Newsletter

Policy Note No. 114


In a new Policy Note entitled "Ignore the Trade Balance: Concentrate on Full Employment," Steven Hail, Research Scholar at the Binzagr Institute, argues that “a monetary sovereign government can achieve and maintain full employment without seeking to run a trade surplus, and a trade surplus is never a valid policy objective for such a government: a monetary sovereign government cannot be frustrated in its pursuit of full employment by a trade deficit, and a trade deficit is never a constraint on the pursuit of equitable, sustainable full employment. This note explains that the current account balance of a country with a monetary sovereign government, like the fiscal balance of that government, is never an appropriate statistic to use as a policy target, and that the current account balance should be allowed to find its own level, depending on the behaviour of the foreign and domestic private sectors of the economy.”  >> Read complete text (pdf)

March 1-3 Conference: Reimagining Work, Prosperity, and Art


The Binzagr Institute is pleased to co-sponsor a conference entitled "Re-Imagining Work, Prosperity, and Art: Reflections on the New Deal and Envisioning 21st Century Possibilities for Employment" (March 1-3, 2017). Hosted by SUNY Cortland, this event features an exhibition of WPA artworks on loan from Syracuse University Galleries (February 24 to March 6, 2017). Complementing the exhibition will be three days of presentations (March 1-3, 2017) by a gathering of interdisciplinary scholars discussing the visual, performing, media, literary and culinary arts from both historical and modern political economy perspectives. From these points-of-view, we hope to cultivate thoughtful dialogue about the future of creative and productive work as an important component to achieving sustainable prosperity for all. For more information about this conference, please contact Benjamin Wilson, Assistant Professor of Political Economy and Research Scholar at the Binzagr Institute (benjamin.wilson02@cortland.edu). More details will be posted on our website soon.

* Photo credit: Howard Cook, Mississippi Stevedores, 1935. Courtesy of Syracuse University Art Collection. 

Books by our scholars

This month we highlight a two-volume book entitled The Modern Caribbean Economy, co-edited by Nikolaos Karagiannis, Research Scholar at the Binzagr Institute (with Debbie A. Mohammed). Read details below, and stay tuned for next month's book highlight!

The Modern Caribbean Economy (2 volumes)

In this two-volume multidisciplinary edited book The Modern Caribbean Economy, Volume I: Alternative Perspectives and Policy Implication provides scholars and practitioners with alternative theoretical perspectives and concrete policy recommendations, while Volume II: Economic Development and Public Policy Challenges discusses economic, industrial, and social problems facing the Caribbean along with pragmatic proposals to successfully deal with these, while building local resilience and enhancing institutional strength in the region.

Binzagr Institute Book Series by Palgrave Macmillan

We are delighted to announce a partnership between the Binzagr Institute and Palgrave Macmillan to publish a new book series on Sustainable Prosperity. This series is co-edited by Mathew Forstater, Fadhel Kaboub, and Michael J. Murray. Please contact the co-editor to submit your book proposals. We look forward to releasing the first two volumes in this series in early 2017.

David Barkin wins the 2016 CROP International Studies in Poverty Prize

David Barkin
Congratulations to David Barkin, Research Scholar at the Binzagr Institute, for winning the 2016 CROP International Studies in Poverty Prize. This prize is awarded by the Comparative Research Programme on Poverty (CROP), which is sponsored by the International Social Science Council and the University of Bergen. Dr. Barkin's award recognizes his work 0n Food Sovereignty, which challenges current approaches to alleviating poverty (which emphasize publicly administered social welfare programs) by focusing on the direct action of communities to organize themselves to satisfy their own basic food needs and those of their region with self-help development strategies.

Updates from our Team

Journal of Australian Political Economy
David Barkin, Research Scholar at the Binzagr Institute, published a new article entitled "
Violence, Inequality and Development" (Summer 2016/2017).

Review of Radical Political Economics
David Barkin, Research Scholar at the Binzagr Institute, published a new article (with Blanca Lemus) entitled "
Third World Alternatives for Building Post-capitalist Worlds" (Winter 2016).

CTXT
Scott Ferguson, Research Scholar at the Binzagr Institute, published "
¿A la mierda el trabajo?" (January 3, 2017).

The Hill
Robert C. Hockett, Research Scholar at the Binzagr Institute, published an op-ed entitled "
How to repeal and replace ObamaCare today? Use Medicare." (January 5, 2017).

Medium
Alexander Douglas, Research Scholar at the Binzagr Institute, published two blog posts entitled "
Krugman’s Monetary Mysteries" (January 9, 2017), and "For Policy Sexy Times, Make it Basic Income Time??" (January 20, 2017).

Black Press USA
Julianne Malveaux, Advisory Board member at the Binzagr Institute, published an op-ed entitled "
’Why Black Women Must Be Involved in the Women’s March on Washington" (January 9, 2017).

New Economy Project
Raúl Carrillo, Research Fellow at the Binzagr Institute, published "
WTFargo: How Bad Does a Bank Have to Be?" (January 11, 2017).

In These Times
Pavlina Tcherneva and Rohan Grey, Research Scholars at the Binzagr Institute, were interviewed for an article entitled "
’Deficits Matter—But Not in the Way Paul Krugman Thinks They Do " (January 13, 2017).

The Wall Street Journal
Robert C. Hockett, Research Scholar at the Binzagr Institute, was featured in an article entitled "
Robots, Novice Traders Deluged Thin Market During Sterling ‘Flash Crash’" (January 13, 2017).

Yonkers Tribune
Oren M. Levin-Waldman, Research Scholar at the Binzagr Institute, published two public policy op-eds entitled "
Are Market Economies Compatible with Democracies?" (January 16, 2017), and "Is this the Era of Neo-Mercantilism?" (January 30, 2017).

Bloomberg
Robert C. Hockett, Research Scholar at the Binzagr Institute, was interviewed for a segment entitled "
Supreme Court Rejects Banks in Libor Suits" You can here the full podcast here (January 17, 2017).

Bay FM 99.9
Steven Hail, Research Scholar at the Binzagr Institute, joined with with Award Winning freelance journalist Claire Connelly in a discussion about the language of macroeconomics and its misuse in politics on Bay FM 99.9. You can hear the full segment here: "
Language of Macroeconomics" (January 17, 2017).

ABC (Australia)
Fadhel Kaboub, Pavlina Tcherneva, and Steven Hail, Research Scholars at the Binzagr Institute, were interviewed by Claire Connelly for an article entitled  "
Why a universal basic income is a poor substitute for a guaranteed job" (January 18, 2017).

Stanford University's 'Arcade'
Scott Ferguson, Research Scholar at the Binzagr Institute, published a blog post entitled "
Re: F@ck work?" on the Stanford University's 'Arcade' blog (January 19, 2017).

Independent Australia
Steven Hail, Research Scholar at the Binzagr Institute, was featured in an article entitled "
Paying for public services: Dr. Steven Hail's solutions" (January 21, 2017).

Slow Money Journal
Marco Vangelisti, Research Fellow at the Binzagr Institute, published "
Life after Conventional Finance" (January 23, 2017).

Eldiario.es
Pavlina Tcherneva, Research Scholar at the Binzagr Institute, was interviewed by eldiario.es in an article entitled "
’Los costes del desempleo son enormes comparado con un trabajo garantizado" (January 25, 2017).

Modern Money Aesthetics
Scott Ferguson, Research Scholar at the Binzagr Institute, published a blog post entitled "
Universal Basic abandonment" (December 1, 2016).

Forbes.com
John T. Harvey, Research Scholar at the Binzagr Institute, published  an article entitled "
Why Social Security Can't go Bankrupt: Rerun" (January 7, 2017).

The Conversation
Steven Hail, Research Scholar at the Binzagr Institute, published an article entitled "
Explainer: what is modern monetary theory?" (January 31, 2017).

Forbes.com
Sara Hsu, Research Scholar at the Binzagr Institute, published five new op-eds on the state of the Chinese economy: "
China Needs To Fix Its Shady Bond Market" (January 9, 2017), "How China's Asian Infrastructure Investment Bank Fared Its First Year" (January 14, 2017),"Bright Spot For China's Economy: Rising Consumption Ahead Of The Spring Festival" (January 18, 2017), "China's GDP Numbers: Can We Trust The Data?" (January 23, 2017), "President Trump's China Agenda Could Get Ugly" (January 27, 2017). You can follow Sara's columns on Forbes.com here.

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