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Tag: Paul Krugman (Page 1 of 2)

Deficit Hawks Ignorant




Deficit Hawks Ignorant


I’m now 57 years old and the tale of imminent fiscal catastrophe begins with my awareness of its use by Reagan who ran on fixing the deficit and then cut taxes, of course, increasing the debt. And that is how it has always gone. It’s always a apocalyptic event closing in on us like a relentless tsunami, unless there’s an opportunity for a tax cut, in which case, the deficit hawks or deficit scolds (whatever term you prefer) go silent. They are only loud when talking about cutting social programs. They maintain a studious silence when tax increases are discussed. And do you know why, because deficits can be a problem but for these people, it’s a good problem because it’s a club they can pick up or put away as need arises. When there can be tax cuts, the club is put away and when there can be cuts in the safety net, the club can be wielded fiercely and recklessly.


They’re not ignorant. They know exactly what they’re doing. It’s just a tactic.


James Pilant


Krugman: Deficit scolds “literally have no idea what they’re talking about” – Salon.com




Noting the continued endurance of low levels of inflation and low interest rates, which should contradict the expectations of anyone buying into the looming fiscal catastrophe narrative, Krugman ridicules his opponents for having been so wrong for so long, seemingly without ever giving their beliefs a second thought. “It’s actually awesome, in a way, to realize how long cries of looming disaster have filled our airwaves and op-ed pages,” Krugman writes. He then goes on to cite an Alan Greenspan op-ed in this vein, one that was written nearly three and a half years ago, but that for all intents and purposes could have been published just yesterday.


via Krugman: Deficit scolds “literally have no idea what they’re talking about” – Salon.com.

Niall Ferguson Gets Return Fire

 Niall Ferguson Gets Return Fire

I read the Huffington Post almost every day. Niall Ferguson has written three attacks on Paul Krugman which have appeared in that publication which has me wondering about what’s going on? I was under the impression that Ferguson’s hit piece on Obama has been so awful that his credibility had taken a substantial hit but apparently not a substantial enough hit for the Huffpost not to publish him. I find Ferguson’s beliefs appalling, his attacks on Krugman ridiculous and I am pleased that so many are firing back at Ferguson’s attacks. Here is one from the web site, Beat the Press.

James Pilant

The Ravings of Niall Ferguson, the Real World, and the Needless Suffering of Tens of Millions | Beat the Press


But it is hardly worth wasting time and killing electrons in a tit for tat with Ferguson. What matters is the underlying issues of economic policy. These affect the lives of billions of people. The absurdities pushed by Ferguson and like-minded people in positions of power, in direct defiance of massive evidence to the contrary, have ruined millions of lives and cost the world more than $10 trillion in lost output since the crisis began.

via The Ravings of Niall Ferguson, the Real World, and the Needless Suffering of Tens of Millions | Beat the Press.

From around the web.

From the web site, This is Ashok.


As I have documented in detail before,


Alec Foege Calls for Change

Alec Foege Calls for Change

Alec Foege Calls for Change“The Tinkerers”: How corporations kill creativity by Alex Foege – Salon.com

In August 2010, Paul Krugman published a piece in the New York Times titled “America Goes Dark.” He described how the United States, “a country that once amazed the world with its visionary investments in transportation, from the Erie Canal to the Interstate Highway System” was now dismantling its infrastructure.

Krugman’s main point was that the U.S. government was not investing stimulus funds in the tools needed for our own economic growth. Three decades of antigovernment rhetoric had convinced many Americans that spending taxpayer funds on anything was a waste of taxpayer funds. But government—the US government, specifically—had built this country into an innovative economic powerhouse by investing in “lighted streets, drivable roads and decent schooling for the public as a whole.”

I would take Krugman’s point one step further and argue that the American government and people helped the country grow both by investing in innovation and by committing themselves to the traditional tinkerer spirit. A sophisticated, cutting-edge infrastructure was the perfect crucible for the kind of innovation the United States embodied.

The point about the devolution of tinkering in American life is not that we have lost a physical connection to the work that we do. It’s that the notion that we can fix any problem or achieve any goal that we set for ourselves has deteriorated into a sanitized, corporatized version of what constitutes achievement.

Corporate America has grown rigid as it has grown larger. Despite the dot-com era’s many images of creative whizzes reweaving the very fabric of innovation, it remains extremely difficult for the freethinking alchemists of today to perform their peculiar strain of magic and thrive while doing it.

“The Tinkerers”: How corporations kill creativity – Salon.com

This was a great article much longer than the brief excerpt I have placed here. If at all possible, please go to Salon and read the whole thing. The gentleman has several books out, so you might want to look into acquiring those as well.

I have been told by people flying into the United States how run down the place looks. There are reports that say this country needs about 2.2 trillion dollars just to get even in terms of infrastructure. 

Yet, these pressing needs seem to register very little as a governmental concern. We’ve already had collapsing dikes and bridges. What kind of crisis will it take to make this a critical issue that gets addressed?

Maybe the flesh is willing but the spirit is weak? Where’s that “can do” spirit that built buildings, monuments and wonders of technology? Where has that gone?

I like to read yearbooks from the 1960’s, Britannica, World Book, etc. and in them I find a spirit of optimism and a certainty of success that no longer is predominant in our culture. Much of our current angst can be traced to the thought that things are only going to get worse. 

I agree with Mr. Foege, we need change.

We need to act and we can’t wait for the “road fairy” to repair out problems.

James Pilant

P.S. You could argue that there is no business ethics here. After all we aren’t speaking of deliberate sabotage of America’s infrastructure. Certainly I hope not. But business ethics is also a positive force. Good business ethics would embrace creativity and long term growth as manifested in infrastructure development and preservation.

From around the web,

From the web site, ASCE, American Society of Civil Engineers:

In mid-January, the American Society of Civil Engineers (asce) convened a series of five roundtables in Washington, D.C., that were
conceived as in-depth discussions of how best to address the nation’s significant infrastructure deficiencies, which threaten not only the safety
and welfare of the public but also the nation’s economic growth and competitiveness. Each roundtable had its own moderator and slate of
participants, and the participants included well-respected political leaders, policy leaders, and members of asce who are well versed on the
subject of critical infrastructure. The starting points for these discussions were the five key solutions outlined in asce’s 2009 Report Card for
America’s Infrastructure, which was released in March 2009. In essence what these roundtables were striving to achieve was to develop a
framework for giving full dimension to these solutions and securing for them positions of high visibility and high priority on the national agenda.
which was released in 2003. The 2001 report card conferred an overall grade of D+; the 2005 report card, a D; and the 2009 report card, a D. The 2003 progress report
also conferred a grade of D. These assessments have trained a spotlight on the fact that America’s critical infrastructure—principally its roads, bridges, drinking
water systems, mass transit systems, schools, and systems for delivering energy—may soon fail to meet society’s needs. The underlying threats—and these threats are quite significant—are those of deteriorating
economic strength within the global marketplace and a diminished quality of life across the spectrum of American society.

From the web site, Class Warfare Blog:

Now is the time to act to bring up the level of repair of our infrastructure. The reasons?
• the cost of borrowing the money to do this is approximately 0%. We will never get a better deal.
• the number of out-of-work construction workers is huge which has depressed the cost of labor.
• the money paid to the architects and engineers and laborers and suppliers of raw materials and truck drivers will be spent almost immediately by those folks which will stimulate the economy. Plus there is time for the money those folks spend to be spent again (by the subsequent recipients) before the next year is out, amplifying the effect. (Economists call this the multiplier effect. In this case $1 spend on construction creates well over $1 of economic activity.)
• the problems with our infrastructure will only get worse and will cost even more as time goes on. It is not like they will “heal themselves” like a cold will if you just wait.
• all of the expenditures will go to Americans and American companies. The jobs cannot be “outsourced.”

If China is willing to lend us the money to make this nation stronger, creating jobs that generate more than enough tax revenue to pay off those loans, we will be fools if we don’t act. The more we wait the more it costs us in the long run.

From the web site, Reboot Illinois:

“Over the next several decades, Illinois’ infrastructure needs will likely exceed $300 billion, yet the state does not have a comprehensive plan to address this critical need. There are real costs associated with underfunding of infrastructure: shipping and travel delays, congestion, pollution, and diminished economic growth.” State Budget Crisis Task Force Illinois Report.

And finally, from the web site, Save America’s Infrastructure:

For the U.S. economy to be the most competitive country in the world we need a first class infrastructure system—transport systems that move people and goods efficiently and at reasonable cost by land, water and air; transmission systems that deliver reliable, low-cost power from a wide range of energy sources, and water systems that drive industrial processes as well as the daily functions in our homes. Infrastructure is the foundation that connects the nation’s businesses, communities and people, driving our economy and improving our quality of life.

ASCE urges the administration and Congress to focus on policies that will create jobs and continue to grow the economy. ASCE will work with the new Congress and the President to rebuild and revitalize the very foundation of our national economy. Roads, bridges, levees, and dams not only provide security, but also allow businesses to move goods, reach global markets, grow their market share and create new jobs.

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Liar and Slanderer, Joe Kernen

CNBC Host Joe Kernen: Paul Krugman Is A Communist

“They quoted Paul Krugman and this other idiot, Dean Baker, who’s some guy, I don’t even know who he is, he always writes for The Huffington Post. Basically co-communists in a lot of different economic circles,” Kernen said on Monday. “You know, fact-checkers need fact-checking now. They’re so full of crap. These fact-checkers lie more than the people that they’re fact-checking.”

CNBC Host Joe Kernen: Paul Krugman Is A Communist

Kernan takes CNBC to a new low with his Joe McCarthy antics. I read both Krugman and Baker every day. Their fact checking is solid and even more solid is their status as American Capitalists and patriots. This vicious windbag needs firing. Where would a network find a person like Joe Kernen and believe these kinds of thoughts provide “significant” commentary? They more resemble the rantings of beer soaked bar patron muttering at the television.

It’s the same old thing. When the facts are with you, you cite the facts, when the facts are against you, you pound the table.

This is table pounding, and pathetic table pounding at that.

James Pilant

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David Brooks: To Hell With the Polls! | Video Cafe

We all know that David Brooks is one of those “very serious people” (I owe Paul Krugman for the phrase.) who believe in Centrism. That is a very pretty word that indicates that if we all play nice we will live wonderful lives. We will also have to give up social security, medicare and a host of other programs because unlike the 1%, we less significant people are the ones supposed to compromise and be nice.

I’m not nice. I believe in conflict. I believe that until we make politicians suffer and lose office over their willingness to compromise on social security that the program will be in danger from the “centrists.”

The centrists believe in politicians governing without the influence of the unlettered masses – that would be us. You, when your social security benefits are taken away from you (the ones you’ve already paid for) that is shared sacrifice when the rich get tax cuts that is a spur to the economy and a reward for the “productive” classes.

You see, centrism is a fancy word for elitists and a top down ethos of enlightened philosopher kings keeping the craven, greedy masses (yeah, that would be you) in line.

It’s a precious belief in the virtue of oligarchies. It’s royalism without the royal family just the next enlightened figure to ignore popular opinion and do what is “necessary.”

This is contemptuous of democracy and the hard working, honest American people.

And this is what passes for intelligent comment at the New York Times.

James Pilant

David Brooks: To Hell With the Polls! President Obama Should Not Campaign on Raising Taxes on the Rich | Video Cafe

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Paul Krugman Makes Some Good Points

Paul Krugman’s speech called The Profession and the Crisis has some interesting remarks. I certainly enjoyed it. It can be found in its entirety in the Eastern Economic Journal. Here’s his introduction –

So we’re having an economic crisis. I say “having,” not “had,” because we have by no means recovered. Financial panic may have subsided, stocks may be up, but employment remains far below pre-crisis levels, and unemployment — especially long-term unemployment — remains disastrously high. And while you can make the case that the economy is slowly on the mend, slowly is the operative word. We have already been through two years of economic purgatory, and there’s no end in sight.

There is a real sense in which times like these are what economists are for, just as wars are what career military officers are for. OK, maybe I can let microeconomists off the hook. But macroeconomics is, above all, about understanding and preventing or at least mitigating economic downturns. This crisis was the time for the economics profession to justify its existence, for us academic scribblers to show what all our models and analysis are good for.

We have not, to put it mildly, delivered.

Yes, exactly. The modern profession of economics failed repeatedly in the crisis of the last few years. Where was the profession during the Bush tax cuts? How did the housing bubble seem to so many as a sustainable healthy growth (I had it identified as a bubble certainly by 2004.)? How could economists have believed that the American financial system was “self-regulating?” I can go on for some time.

All this reminds me of a joke from the days of the Soviet Union. Leonid Brezhnev, the General Secretary of the Communist Part, is reviewing the May Day parade with it huge lines of tanks, missile launchers and other displays of power, when in the middle of all this array, appears a truck with eight shabbily dressed me standing in the back. An observer standing with Brezhnev asks who they might be. He replies, “Those are economists.” The observer asks, “Why are they with the tanks and the missile launchers?” Brezhnev turns to his visitor and in surprise asks, “Do you know how much damage eight economists can do?”

The doctrines of free trade and the unlimited free market as the best determinant of economic outcomes have been devastating wrecking balls in our society destroying the Middle Class and stacking enormous amounts of money for the benefit of players in a financial system devoted to little more than speculation. Keynes once famously said that in the long run we are all dead. He didn’t mean for the economists to kill us

But economics has fallen behind the curve discarding as useless the wisdom of the past because of its capture by the business interests and the rampant self interests of the Chicago School, the modern symbol example of intellectual hubris.

Here’s Paul Krugman again –

In short, in responding to the crisis, the profession presented a sorry spectacle of unnecessary ignorance that didn’t even recognize itself as ignorance, of bitter debate over issues that were resolved many decades earlier. And all of this, of course, made the profession mostly useless at a time when it could and should have been of great service. Put it this way: we would have responded better to this crisis if macroeconomics had been frozen at the level of knowledge it had in 1948, when Paul Samuelson published the first edition of his famous textbook. And the result has been to leave actual policy discussion without any discipline from the people who should be shaping that discussion: politicians and officials have been free to follow their prejudices and intuitions, never mind the lessons of history and analysis. Economists have failed to fulfill their social function.

He’s right. The great mass of the profession is useless or counterproductive shrilly shouting the doctrines that three short years ago almost brought the world financial system to ruin. They shout like some unrepentant Communists that their doctrines were not followed with purity, that if they had we would be living in a financial utopia. Well, I don’t believe those promises and neither should you.

For the time being the profession of economics is a confusion of voices many deliberately purchased by the great financial interests. So, we individuals need to go back and read Keynes and study the rest of the great economists because the current profession is in love with complex models, being published and getting a ton of grant money from a financial industry that uses them as little more than trained poodles. (If you don’t belive me go watch Inside Job.)

James Pilant

What Do I Find Interestng On The Web? – What’s Hot?

So, what’s hot on the web today, at least in my judgment?

Conor Friedersdorf at the Atlantic makes a good case that Sarah Palin is going back to her government reformer roots in her political approach. He makes a good argument. This sounds to me like a much better candidate than the one whose quotes have been so foul for so long. The speech he quotes is impressive for its intelligence and its appeal. She may be moving toward a real candidacy and she might not be the disaster, so many have predicted.

The most noteworthy thing about the speech: for once, Palin attempted to speak as a uniter, not a divider. Addressing the crowd, she said early on that “we’re not celebrating red America, or blue America. We’re celebrating red, white and blue America.” As telling were her criticisms. She didn’t attack coastal elites or the lame-stream media or liberals (she called out “the far-left” instead). She attacked the corrupt status quo in Washington D.C., and tried to make President Obama the ultimate symbol of that corruption.

Al Jazeera Reporter given a Texas welcome –

This is from Slate. I could not get the Al Jazeera link to work, so that I could see the original story. So, I quote from Slate.

In a post on Al Jazeera’s English-language website, reporter Gabriel Elizondo tells of being barred from interviewing spectators at a high school football game in rural Booker, Texas, after district officials learned the name of his employer. Elizondo, an American who lives in Brazil, was on a cross-country trip to report on American attitudes about 9/11 and its aftermath.

He introduced himself to the principal, who was all smiles until she saw his business card, according to his account. Then the superintendent got involved, and things went downhill. From Elizondo’s post:

I am pretty sure (the superintendent) said: “I think it was damn rotten what they did.”

“I am sorry, what who did?” I say, not sure exactly if he was calling me rotten, the terrorists rotten, [Al Jazeera] rotten, or all of the above.

“The people that did this to us,” he says back to me with a smirk, still glaring uncomfortably straight at my eyes.

“Well, I think it was bad too,” I say. “Well, do you think, sir, we can film a bit of the game and talk to some people here about just that?”

“No. You can’t film, you can’t take pictures, or interview people.”

“OK, can I ask why? And if you allow me can I explain…”

Cut off.

“No, I just expect that you will respect it.”

Clearly he didn’t want to hear anything from me.

Al Jazeera is not welcome here.

I wrote some wonderful stuff right here. I spent about thirty minutes writing it. Suddenly it was gone, eaten by the wordpress program. It wasn’t highlighted or anything. Just Gone! So, think of something really eloquent and something that you really like and put it right there.

By the way, the Texan side of the debate is on the web now, with the Superintendent all reasonable now. I don’t believe a word of it. The guys who didn’t let him film don’t strike me as the people I should trust in this situation. JP

Paul Krugman talks Democracy – This is really nice stuff.

Look, I don’t want to wax all sentimental about the genius of the common man. But the fact is that both the origins of this crisis and its perpetuation overwhelmingly reflect the errors of the very people now lamenting the annoyances of democracy that keep them from imposing their preferred policies.

As Atrios says, the euro was very much a top-down, elite-imposed project; and it’s the ECB and the German finance ministry, not the unwashed masses, that have pushed for the austerity-for-all agenda that is pushing the euro system to the edge as we speak.

Meanwhile, in the United States it was the Very Serious People — the WaPo editorial page, the Bowleses and Simpsons and those who extolled them, who declared that our top priority must be deficit reduction now now now, and have left us slashing spending to fend off imaginary bond vigilantes at a time of mass unemployment and record low interest rates.

Krugman is right. The great economic authorities since 1980 have gotten it all wrong. Our current elites, the beltway media and the heavily “subsidized economics profession continue to talk the homilies of discredited system. Now, the public won’t go along with more of their lunacy and they are angry. So be it. I like them angry.

The Super Committee in the Senate is a good place to be if you want some hefty campaign contributions.

Read this from the Sunlight Foundation Reporting Group -This is by reporter, Bill Allison.

The Club for Growth, which advocates making permanent some tax cuts and eliminating entirely others that, over just two years, would amount to more than $765 billion in lost revenues over two years, is a top donor to two of the three Republican Senators on the Joint Select Committee on Debt Reduction–the super committee. Other top donors include a hedge fund run by a top Republican donor that invests in, among other things, defaulted debt of sovereign nations, corporations trying to shield income earned overseas from U.S. taxes, and utility firms seeking to avoid regulation of greenhouse gases.

So, the House and Senate have a brand new fourth branch of the government, a sort of Politburo for the Congress. And is it attracting money like it’s going out of business. That is a pretty good deal for the Senators and Representatives involved, but what kind of deal is it for Middle America?

I hope I am not the only one made uncomfortable by this strange government anomaly.


James Pilant









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Pathetic Weakness – President Obama Caves In Again – You See a Pattern Yet??

President Obama caved in on issuing new regulations on clean air. You can read about it here –  Obama yields on smog rule in face of GOP demands.

But what can you expect. The President only caves when challenged. Oh, wait a minute, sometimes Obama caves before being challenged – Obama says he won’t raise debt ceiling on his own. I’m a big student of history and I simply can’t remember a historical figure who admits defeat or throws away his negotiating points before any negotiations have begun. It strikes me as a superb mechanism for becoming a historical footnote.

Here’s what Paul Krugman has to say –

I’ve actually been avoiding thinking about the latest Obama cave-in, on ozone regulation; these repeated retreats are getting painful to watch. For what it’s worth, I think it’s bad politics. The Obama political people seem to think that their route to victory is to avoid doing anything that the GOP might attack — but the GOP will call Obama a socialist job-killer no matter what they do. Meanwhile, they just keep reinforcing the perception of mush from the wimp, of a president who doesn’t stand for anything. (My emphasis.)

I remember when Obama was campaigning and it sounded like all my political dreams come true – Guantanamo closed, bankruptcy reform, Justice Department scandals investigated, torturers brought to justice, government transperancy, single payer health care, help for foreclosed homeowners, effective regulation of the financial sector, net neutrality, and on and on. It’s still a dream, a nightmare of daily disappointment. This is not what I voted for.

Here below are videos easily found on the web and mainly on You Tube chronicalling the President’s incessant cave-ins. I was more than a little disturbed at how easy it was to come up with them. Basically it was a matter of running three searches, 1. Obama caves, 2. president caves and 3. White House caves. I am a superb searcher. I know all the tricks. There was no need for any web searching skill here. It was similar to looking up the Capital of the United States.

Obama Admin Caves Again (And Again…)

Obama Caves On Net Neutrality – GOP Claims Government Takeover

White House Caves To Fox News, Forces Resignation

Obama Caves On Budget, Brags About It

Bad News: Obama Caves On Something Else

Obama Caves to Birthers

4 The Progressive – Obama Caves on Settlements

White House Caving On Rich Tax Cuts – MSNBC w/ Cenk

Obama – Cave To GOP To Please Markets

Obama Caves in Again

Is there a pattern here? I would assume it is very obvious that we have a President who has no beliefs worth fighting for. But what is far worse, his guarantees of action or promises to refuse to yield on vital political issues are useless. No matter how strongly he has asserted that he is on your side, the moment when push comes to shove, you lose.

That is not Presidential, this is rule by a political loser who revels in what he calls compromise. We are led by a President who calls every loss a victory and every defeat a win. But there is a reality out there and the American people are well aware of what a loser is.

James Pilant


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Let’s Defy “Common Sense” and Use Our Intelligence

Paul Krugman, Laureate of the Sveriges Riksban...

Image via Wikipedia

Paul Krugman is his blog post, Fancy Theorists of the World Unite, has this comment about a Wall Street Journal article –

A number of people have pointed me to this remarkable editorial by Stephen Moore in the WSJ. What’s remarkable isn’t the views; it’s the all-out embrace of anti-intellectualism. It actually denounces “fancy theories” and rejects them because they “defy common sense”.

It has been some time since the 1994 elections when the Republican candidates were coached on what specific wording they should use campaigning. One of the things they were supposed to say was “common sense solutions” and a bunch of things along those lines.

The fact is there is no common sense. We have a common ability to reason as human beings and there is a certain quality of the American people that they in a body often have a pretty good perspective on how things are going. But that’s it. The idea that the ordinary people understand things better than educated and trained people is nonsense and it will never cease to be nonsense no matter how often the phrase, “common sense, ” is bandied about like a club against ideas like second hand smoke or global warming.

The crying need isn’t for more common sense, that’s just not possible. What we do need are larger numbers of Americans willing to learn to think rationally. That means giving up on the ridiculous that you can think from your gut and the bizarre idea that intuition always or often trumps organized thought.

American anti-intellectualism has been well established since the time of Andrew Jackson, but it has never been more dangerous. Powerful lobbies have a vested interest in stopping the flow and power of knowledge. The wish to bind us to some past era where they believe virtue can be found. That time does not and has never existed. If we are unwilling to pay attention to our scientists as they warn us of the destruction of the seas, the depletion of the ozone or the man made heating of the earth, we will pay a terrible price for our devotion to the chimera of “common sense.”

James Pilant

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Jayaraman Rajah Iyer comments on "Offshoring has Destroyed the US Economy (via Suzie-Q’s Truth and Justice Blog)"

Jayaraman Rajah Iyer comments on "Offshoring has Destroyed the US Economy (via Suzie-Q’s Truth and Justice Blog)"

Jayaraman Rajah Iyer walks his own path and has his own thoughts. Here’s what he things about the afore mentioned post –

Dear JP

US has created a bubble of its own, not just a furious-attack as Krugman says [from WP on the bubble..the response of the right was a furious attack; basically, it was politically incorrect to raise any question about the glorious Bush boom.] but a piranha syndrome on any one who talks against cap… before the ism is even completed, by US – .com, .gov, .edu, .org, in one voice by the dots that stand disconnected otherwise. US.ppl stands completely alienated. An idea when turned over, through a maze of analysts before considered by the CEO led team of experts at a Camp Goliath or some such resorts the incremental cost of the idea is so prohibitive in comparison to the corresponding benefits, that it is thrown in the dust bin. US has expended itself out. No country in the world can afford US Model.

Quotes from Jayaraman Rajah Iyer.

From the web site, Jayaribcm’s Blog.


Recently (July 2012) Dr. Manmohan Singh, Prime Minister of India declared “Reverse the climate of pessimism… revive the animal spirits in the country’s economy,” It is indeed surprising the catch-phrase was not made use of all these years and Dr. Manmohan Singh a renowned economist himself had stressed on bringing optimism to his second wave of reforms for revival of Indian economy. Can Animal Spirits be implanted to Indian Economy? What about for Corporate Sector? The note prepared by IBCM© Research is published here with regard to Animal Spirits that John Maynard Keynes stated in the year 1930 and what it means to corporate? ‘Reviving Keynes Animal Spirits for your business –

Measuring by Return on Intangible’ is one that can bring in measurable vibrancy within an organisation. IBCM© Research Consulting shall be the agent of change.

From the web site, Jayaribcm’s Blog.


Investment decisions have to go deeper in identifying where to invest so
as to have a long term benefit for both the parties – Investor and
Investee, where Value System takes precedence in measuring to the
expectations. Equity portfolio of the investor will remain the driver to
accelerate towards higher rating by Intangible Value Capital that
measures the value system of the Corporate. Same is true for banks on
credit risks. It is inevitable IBCM© Research’s Intangible Value Capital
would remain as the one foremost Rating methodology necessary for any
investment decision.

From the web site, You Tube. (Click to hear his thoughts on his book.)

Inactivity Based Cost Management by Jayaraman Rajah Iyer  

The theme of the book is: Activity is a Cost Incidence whereas
Inactivity Cost has a Consequence. Inactivity Based Cost Management is
Measuring Intangible: Governance,Ethical & Fiscal Responsibility and
Accountability. Cost Consequence is relevant for only one day, i.e.
today, as a corollary Governance is feasible for only one day, i.e.
today. Inactivity Based Cost Management measures your skills and
energies of Governance, Corporate or Government.

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