Comments on: FDL Book Salon Welcomes James K. Galbraith – The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/ Firedoglake weblog Sun, 21 Mar 2010 16:53:42 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: MarkH http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906369 MarkH Mon, 25 May 2009 07:18:08 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906369 <p>Don’t forget that all important course on Kabuki!</p> Don’t forget that all important course on Kabuki!

]]> By: MarkH http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906357 MarkH Mon, 25 May 2009 06:49:49 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906357 <blockquote><p>so there is no free-market solution to the problem of medical research. </p></blockquote> <p>There was a data encryption program developed jointly by the gov’t and a private company. The government considered it’s ROI to simply be the development of the software. But, the problem was that the company didn’t release it to the public — it was classified. Why didn’t the gov’t at least get a share of ROI for the general treasury or to return to the taxpayer?</p> <p>Same with gov’t research on medicines or Green technologies.</p> <p>Also, with MS-Windows they have a patent (or is it copyright) and they get a new one each time they change the software. It still has the same name, but the patent/copyright seems to indicate it’s new. This allows them to keep it forever. How wrong is that?</p> <p>Pharma has tried something similar with their drugs. Are we going to let them abuse patent law?</p> <p>Also, wrt the leasing of oil lands which are then NOT developed, there was an energy bill my rep tried to put out requiring “use it or lose it”. Isn’t it also true of patents that oil companies can buy up battery technology and hold it to prevent anyone from building battery cars to compete with the gas guzzlers?</p> <p>Isn’t “use it or lose it” something we need on patents?</p> <p>We do need more Constructive Capitalism and less Predator State.</p>

so there is no free-market solution to the problem of medical research.

There was a data encryption program developed jointly by the gov’t and a private company. The government considered it’s ROI to simply be the development of the software. But, the problem was that the company didn’t release it to the public — it was classified. Why didn’t the gov’t at least get a share of ROI for the general treasury or to return to the taxpayer?

Same with gov’t research on medicines or Green technologies.

Also, with MS-Windows they have a patent (or is it copyright) and they get a new one each time they change the software. It still has the same name, but the patent/copyright seems to indicate it’s new. This allows them to keep it forever. How wrong is that?

Pharma has tried something similar with their drugs. Are we going to let them abuse patent law?

Also, wrt the leasing of oil lands which are then NOT developed, there was an energy bill my rep tried to put out requiring “use it or lose it”. Isn’t it also true of patents that oil companies can buy up battery technology and hold it to prevent anyone from building battery cars to compete with the gas guzzlers?

Isn’t “use it or lose it” something we need on patents?

We do need more Constructive Capitalism and less Predator State.

]]> By: MarkH http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906351 MarkH Mon, 25 May 2009 06:31:06 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906351 <p>First, before responding to anybody else’s response, let me say I Luvvvvvv this post. But, I have a hard time believing it’s written by Dean Baker about a book written by Galbraith.</p> <p>Predator State! Excellent title.</p> First, before responding to anybody else’s response, let me say I Luvvvvvv this post. But, I have a hard time believing it’s written by Dean Baker about a book written by Galbraith.

Predator State! Excellent title.

]]> By: ImperialFlow http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906339 ImperialFlow Mon, 25 May 2009 06:14:19 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906339 <p>I’m relatively unconvinced of this position. Following Brad Setser’s work on moves with China’s reserves, and their import/export markets, coupled with their new willingness to broker direct trade deals in the RMB (a move that makes absolutely no sense at all unless there is at least some consideration to widen the band on the Dollar peg, or float the RMB completely); the Dollar as a stable value-store in perpetuity seems like a more risky argument to make than the conventional wisdom has lead on.</p> I’m relatively unconvinced of this position. Following Brad Setser’s work on moves with China’s reserves, and their import/export markets, coupled with their new willingness to broker direct trade deals in the RMB (a move that makes absolutely no sense at all unless there is at least some consideration to widen the band on the Dollar peg, or float the RMB completely); the Dollar as a stable value-store in perpetuity seems like a more risky argument to make than the conventional wisdom has lead on.

]]> By: BooRadley http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906003 BooRadley Sun, 24 May 2009 23:23:04 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906003 <p>Thanks Scare, didn’t even know about it.</p> Thanks Scare, didn’t even know about it.

]]> By: bigbrother http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906001 bigbrother Sun, 24 May 2009 23:19:55 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1906001 <p>Ideas are the fuel of the future…a new age of econimic concepts could move the human condition and our planet in a healthy direction.<br /> This is great thread and I am now sold on your book as food for thought. Thanks Dean and Jamie. I think I’ll have a danish.</p> Ideas are the fuel of the future…a new age of econimic concepts could move the human condition and our planet in a healthy direction.
This is great thread and I am now sold on your book as food for thought. Thanks Dean and Jamie. I think I’ll have a danish.

]]> By: Dean Baker http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905996 Dean Baker Sun, 24 May 2009 23:13:09 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905996 <p>Thanks here as well. great exchange.</p> <p>dean</p> Thanks here as well. great exchange.

dean

]]> By: ThingsComeUndone http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905995 ThingsComeUndone Sun, 24 May 2009 23:08:30 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905995 <p>Same here :)</p> Same here :)

]]> By: James K. Galbraith http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905993 James K. Galbraith Sun, 24 May 2009 23:07:11 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905993 <p>Many thanks to all for the comments and questions. I greatly enjoyed the exchange. </p> <p>JG</p> Many thanks to all for the comments and questions. I greatly enjoyed the exchange.

JG

]]> By: James K. Galbraith http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905992 James K. Galbraith Sun, 24 May 2009 23:05:38 +0000 http://firedoglake.com/2009/05/24/fdl-book-salon-welcomes-james-k-galbraith-the-predator-state-how-conservatives-abandoned-the-free-market-and-why-liberals-should-too/#comment-1905992 <p>Nothing goes on forever, and monetary systems have historically changed every 30-50 years since the 1870s. But this one could run somewhat longer.</p> <p>I do worry about the effect of taking on the bad debts of the banks, which is bound to make the balance sheet of the US government look weaker, without having any positive effect on the economy. </p> <p>This is one big danger of the Geithner bank plan, in my view: it kicks the bank losses, which could have been handled at the level of the banks, up to the level of the government as a whole. The government is very big, so maybe realizing the losses won’t matter that much. But it’s really hard to be sure about that.</p> <p>Since we don’t need all the banks we have, it would be much better for everyone, including the financial industry, to knock one or two big ones out and get them downsized and under control at this stage of the crisis.</p> <p>JG</p> Nothing goes on forever, and monetary systems have historically changed every 30-50 years since the 1870s. But this one could run somewhat longer.

I do worry about the effect of taking on the bad debts of the banks, which is bound to make the balance sheet of the US government look weaker, without having any positive effect on the economy.

This is one big danger of the Geithner bank plan, in my view: it kicks the bank losses, which could have been handled at the level of the banks, up to the level of the government as a whole. The government is very big, so maybe realizing the losses won’t matter that much. But it’s really hard to be sure about that.

Since we don’t need all the banks we have, it would be much better for everyone, including the financial industry, to knock one or two big ones out and get them downsized and under control at this stage of the crisis.

JG

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