Monday, February 19, 2018

Richard Sakwa: The Key Challenge for Russia is to Avoid Inflicting Damage on Itself – Rethinking Russia

Rethinking Russia sat down with University of Kent’s Professor Richard Sakwa to discuss his new book Russia Against The Rest, its relations with the West, its role in a new world order as well as its greatest challenges in 2018.
Richard Sakwa is on the level of Stephen F. Cohen and Paul Robinson as a Russian analyst — worth saying attention to.

Rethinking Russia
Richard Sakwa: The Key Challenge for Russia is to Avoid Inflicting Damage on Itself – Rethinking Russia
Interviewed by Pavel Koshkin

See also

Consortium News
Mutually Assured Contempt at 2018 Munich Security ConferenceGilbert Doctorow | European Coordinator of The American Committee for East West Accord Ltd.

Pepe Escobar — China’s ‘New Silk Roads’ reach Latin America

Beijing is turbo-charging its infrastructure connectivity across the region and the Caribbean.
"Who lost Latin America?"

Asia Times
China’s ‘New Silk Roads’ reach Latin America
Pepe Escobar

See also

Talk of four nation-led ‘alternative’ to Belt and Road picks up steam
Asia Times Staff

See also
Australia, the United States, India and Japan are talking about establishing a joint regional infrastructure scheme as an alternative to China’s multibillion-dollar Belt and Road Initiative in an attempt to counter Beijing’s spreading influence, the Australian Financial Review reported on Monday, citing a senior US official.
The Asian Age
India, US, Japan, Aus form ‘quad’ to compete with China’s BRI: report

Glenn Greenwald — A Consensus Emerges: Russia Committed an “Act of War” on Par With Pearl Harbor and 9/11. Should the U.S. Response be Similar?

Whether intentional or not, this is preparing the American public for an overt conflict of US and Russian forces in Syria and a hot proxy war in Ukraine this spring.

This is now entering the high danger stage.

The Intercept
A Consensus Emerges: Russia Committed an “Act of War” on Par With Pearl Harbor and 9/11. Should the U.S. Response be Similar?
Glenn Greenwald

See also
The Mueller indictment against the Russians is a well-timed effort to distract Americans’ attention from the real collusion rotting the core of our public life by shifting attention to a foreign enemy. Many of the people behind it are the very officials who are themselves complicit in the rot. But the sad fact is that it will probably work.
Strategic Culture Foundation
The US-UK Deep State Empire Strikes Back: ‘It’s Russia! Russia! Russia!’
James George Jatras | Analyst, former U.S. diplomat and foreign policy adviser to the Senate GOP leadership

John Helmer — A Lesson in Political Sociology for Robert Mueller – a Lesson in Warfare for Dmitry Peskov

The three types of power which decide the fate of regimes are force, fraud and subversion; that’s to say, arms, money, media....
Detailed analysis of the indictments. Important if you are following this closely.

Dances with Bears
A Lesson in Political Sociology for Robert Mueller – a Lesson in Warfare for Dmitry Peskov
John Helmer, from Moscow

Russiagate gone wild

U.S.-Russian hostility is now inevitable, and the results could be tragic.
History of US election interference, regime change and coup d'etat. 

The American Conservative

Stop scapegoating Russia for America's divisions—and stop using Moscow as an excuse to call for restrictions on speech.
The Never-Ending Search for Foreign Subversives
Jesse Walker

Resistance leader? Not really. Democratic congressman Adam Schiff personifies the link between foreign policy hawks and deep-pocketed defense contractors.
Who Is Adam Schiff?
Branko Marcetic


Defense Secretary William Perry (1994-1997)

The Hill
Former Pentagon chief: US shares blame for poor relations with Russia
Rebecca Kheel


Los Angeles Times (Dec 21, 2016)
The U.S. is no stranger to interfering in the elections of other countries
Nina Agrawal


The Oklahoma Observer
The Russians Have Never Been Coming
Jeremy Kuzmarov


SundayReview | NEWS ANALYSIS
Russia Isn’t the Only One Meddling in Elections. We Do It, Too.
Scott Shane


Asymmetrical Rules
Paul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa

Lars P. Syll— Marx and Keynes on the contradictions of capitalism

Keeper John Elster quote.

Lars P. Syll’s Blog
Marx and Keynes on the contradictions of capitalism
Lars P. Syll | Professor, Malmo University

Oroville Dam analysis

Competent presentation and illustration by this well trained Youtuber of the events that led to the remedial activity that is now the largest engineering project in the US:

Deutsche Bank cutting at least 250 jobs at its corporate and investment bank

Yeah those old crafty "neoliberal banksters!" are just killing it these days:

Three Differences Between Tax and Book Accounting that Legislators Need to Know

Seems like many more than just Legislators could use some brushing up here (e.g. see post directly below this one...).

While the differences between book and tax accounting are no doubt confusing to many, it is entirely reasonable that there be considerable differences between the two practices. After all, corporate accounting standards are typically set by the independent Financial Accounting Standards Board (FASB), while the Internal Revenue Code is a product of the political process between Congress and the While House.  Tax rules are driven by broader public policy concerns rather than adherence to formal accounting practices. T
So while Generally Accepted Accounting Principles[1] (GAAP) are intended to insure uniformity of companies’ financial statements and accounting methods, similar activities may be treated very differently for tax purposes.[2] Therefore, it is possible for the financial reports of a company to differ from the tax returns prepared for the IRS because of the different accounting methods.

Sunday, February 18, 2018

Bill Mitchell — Censorship, the central bank independence ruse and Groupthink

A few things came up late last week which demonstrate the neoliberal Groupthink is alive an well at the highest levels of policy in Australia (and elsewhere). First, there was a story that a report from an Australian Broadcasting Commission (ABC) journalist on the Australian government’s corporate tax cuts was withdrawn after publication by the ABC after receiving several complaints from senior government ministers including the Treasurer and the Prime Minister. The story was not even radical. The journalist who I have had dealings with is a neoliberal herself when it comes to understanding macroeconomics. Second, one of the claims that the neoliberals make is that central banks are now firmly independent and not part of the political process. This is all part of the depoliticisation process whereby governments absolve themselves of political responsibility for policies that harm the citizens by appealing to ‘independent’ external authorities (such as the IMF, or central banks). Well we know that the claim about central bank independence is not true both in terms of the way the monetary system operates but also in the conduct of various central bankers over the last few decades. Last week, the Reserve Bank of Australia governor once again demonstrated how politically independent he is NOTby invoking key mainstream neoliberal myths about deficits and grandchildren. And then an old hack and largely failed British Labour politicians got in on the act. The Groupthink is powerful but becoming increasingly desperate under the increasing pressure from citizens for more accountability.
Bill Mitchell – billy blog
Censorship, the central bank independence ruse and Groupthink
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Paul Robinson — Asymmetrical rules

Back in September I presented a paper at a conference in Moscow on the topic of ‘Human Rights Reasoning and Double Standards in the Rules-Based Order.’ In this I pointed out that both Russia and the West claimed to be in favour of a ‘rules-based order’ and that each accused the other of breaking that order. The problem, I conjectured, derives from differing understanding of what the rules are and how they should be applied.
Russia believes in a traditional, Westphalian, order in which states are equal sovereign entities. The rules apply equally to all of them, regardless of who they are or what they do. States may only take action against other states with the permission of a superior court, in other words the United Nations Security Council. Of course, Russia doesn’t 100% abide by the rules of its own model, but its preferred option remains one of legal symmetry – the same rules apply to all.
By contrast, human rights reasoning has pushed the West in an opposite direction, towards a preference for legal asymmetry. In this model, the just and the unjust, those who respect and those who don’t respect human rights, are not legally or morally equal....
Liberalism as theology.

It's right and just when we do it but wrong when other's do it — because "freedom and democracy."

Paul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa

See also

Intel Today
Former CIA Director James Woolsey: “US meddles in foreign elections – but only for a very good cause”

PCR - Rosenstein and Mueller Running for Cover Leaving Brennan Exposed

Now the Deputy Attorney General Rosenstein confirms what I told you in my previous post. Mueller found no evidence that Russia had any impact on the outcome of the 2016 election.
So what was Russiagate all about?
It was exactly, precisely what I told you it was about from the very begining. It was a conspiracy orchestrated by the military/security complex, CIA, FBI, Hillary Clinton, and the Democratic National Committed against Donald Trump.
Trump’s emphasis during his presidential campaign on normalizing relations with Russia, which the neocon Obama regime had turned into “America’s most dangerous enemy,” was a threat to the power and budgets of the military/security complex. Without a demonized enemy, what is the justification for a 1,000 billion annual budget and the laws passed in the 21st century that completely destroy the protections provided by the US Constitution?
From the Clinton/DNC standpoint, a Trump victory would halt the vast riches pouring into the Clinton/DNC pockets from “pay to play.” The Clinton Foundation and the Clintons themselves were on their way to both being billionaires with the DNC collecting the registration fees. This was a model for one party rule. And along comes Donald Trump.
I doubt Trump knew what he was stepping into. So far he has been unable to function as President. But now that the FISA court has on record Rosenstein and Comey’s confessions that the spy warrants requested by the FBI to spy on Trump are based on deception of the court, the conspirators against Trump face indictment, conviction, and prison, if Trump has the balls, which he might not have. We cannot even be sure Trump understands the situation.
Paul Craig Roberts

Jim Luke — Is Polarization Really a Recent, Digital Phenomenon?

I’m old enough to remember those times well. I also remember the eighties, and seventies, and sixties, and the first hand accounts of those from the fifties. There was no agreement, no unified mass central consensus in those days. There was the appearance of such because those with power, privilege, and authority could much better control the message, control the “news” as reported.
Polarization existed then too. It is not a product of the digital age. The difference is that back then the different voices and perspectives had no voice, no platforms. Now in the digital age they do. We now hear them. Trust me. The extremes existed back then too, it’s that fewer could hear them.
Polarization is just more visible after digitization than previously owing to diffusion of information.

My memories coincide with Jim Luke's on this. The polarization was intense, especially during the era of the Vietnam Conflict and the anti-war movement.

Is Polarization Really a Recent, Digital Phenomenon?
Jim Luke


Rush has 26 million listeners. Neither he nor right-wing radio are phenomena that appeared after or on account of digitization. The major corporate media were predominantly liberal-leaning prior to Fox News, and the radio shows were a reaction to that. Fox changed the game even more. All of this was prior to the Internet.
EIB Network radio host and best-selling author Rush Limbaugh joined Chris Wallace on FOX News Sunday this morning.
Rush weighed in on the Mueller witch hunt today during his discussion with Chris Wallace.
Rush said the DOJ’s Special Counsel’s purpose is to destroy President Trump.
Rush Limbaugh also said Hillary was not charged with crimes because then they would have to indict Barack Obama who “probably” encouraged the spying on Donald Trump.
The Gateway Pundit (Alt Right)
RUSH LIMBAUGH: All of This Spying on Trump Happened with Obama’s Knowledge and Probably Encouragement (Video)
Jim Hoft

Lars P. Syll — Poland’s Law and Justice — now and then

Legislating a lie.

Lars P. Syll’s Blog
Poland’s Law and Justice — now and then
Lars P. Syll | Professor, Malmo University

Brian Romanchuk — Why Lender-Of-Last-Resort Operations Are Inevitable

Lender-of-last-resort operations by central banks (or "bailouts of the financial system") are deservedly unpopular across the political spectrum. Malcontents have argued that risky lending ought to be handled by markets, and that deposits should be fully backed by reserves or Treasury bills. Unfortunately, the believers in these theories never bother to look at the economics of short-term lending. The money markets have the structure that they have for a reason, and they only will function if there is a lender-of-last-resort that is able to step in and prop the system up. Any attempts to make the system bailout proof would have far-reaching consequences into the structure of the economy....
Bond Economics
Why Lender-Of-Last-Resort Operations Are Inevitable
Brian Romanchuk

Richard Partington - Home ownership among young adults has 'collapsed', study finds

Margret Thatcher said would turn Britain to a country of home owners and she started forcing councils to sell of their council housing, but they weren't allowed to replace any of the housing stock. House builders make more money building just a few houses to keep house prices high, and so without the government supplying houses there became a housing shortage. Older people who had their own homes, and a bit of spare cash on the side, became amateur landlords buying a house, renting it out, and then using the income to get a loan to buy another house, and so on, until some owned hundreds of houses, and others thousands. Politicians got in on it, and so did many estate agents.

It reminds me of when I was a child when I went into a shop with my friends and we found to our surprise that the Mcvitie's fruit pies had a buy section one get the next one free label on. So we bought one each, went outside, tore the free offer label off and went back in to get another pie, and so on, until we had cleared all the pies out of the shop. It took two to three weeks before the shop got some more pies in, but when they arrived we did the same thing all over again. Our mums were pleased with us as we had loads of fruit pies in the cupboard. Free pies, free houses, although there are risks and hassle involved, for sure.

Now Britain is becoming a renting society again as the younger generation can't afford to buy a home anymore. Again, Tory supporters were sold a pup (although some made a packet out it) their families poorer than ever, but they still blame the individual.

Now adult children stay with their parents until their thirties, so much for the Thatcher neoliberal dream where we all become home owners, and through our hard work, would get to live a good life. Thatcher said she would break the bureaucratic system and set us free so we could become prosperous, but now millions of young adults are stuck living at home with their parents into their thirties while doing dead end jobs. So much for freedom.

My neighbour, a staunch conservative supporter, sold her three lovely bedroom house to give her daughter and her husband enough money for a deposit for a home. She now lives in tin shack in the countryside.  KV

Home ownership among young adults has 'collapsed', study finds 

The chances of a young adult on a middle income owning a home in the UK have more than halved in the past two decades.
New research from the Institute for Fiscal Studies shows how an explosion in house prices above income growth has increasingly robbed the younger generation of the ability to buy their own home. For 25- to 34-year-olds earning between £22,200 and £30,600 per year, home ownership fell to just 27% in 2016 from 65% two decades ago.
Middle income young adults born in the late 1980s are now no more likely than those lower down the pay scale to own their own home. Those born in the 1970s were almost as likely as their peers on higher wages to have bought their own home during young adulthood. 
Andrew Hood, a senior research economist at the IFS, said: “Home ownership among young adults has collapsed over the past 20 years, particularly for those on middle incomes.”
The IFS said young adults from wealthy backgrounds are now significantly more likely than others to own their own home.
Between 2014 and 2017 roughly 30% of 25- to 34-year-olds whose parents were in lower-skilled jobs such as delivery drivers or sales assistants owned their own home, versus 43% for the children of those in higher-skilled jobs such as lawyers and teachers.
The Guardian

Saturday, February 17, 2018

Rachel Blevins — WaPo Just Admitted ‘Russian Propaganda’ Was Actually US Mainstream Media, and Was ‘Factual’

In a new story titled “Russia used mainstream media to manipulate American voters,” the Post admitted that instead of creating and spreading “fake news,” the accounts it claimed were controlled by Russians actually focused on sharing stories from American mainstream media outlets, and one of their most used sources just happened to be The Washington Post.
Citing an analysis by Columbia University social-media researcher Jonathan Albright, the Post noted that the majority of the “Russian propaganda” spread by these accounts was made up of “factually accurate” stories from American sources:
In other words, echo chamber.

Zero Hedge — Facebook VP: "The Majority Of Russian Ad Spend Happened AFTER The Election"

Just a reminder. We knew this already.

The spin will of course be that "the Russians" are continually trying to undermine the US by sowing discord (like the US does abroad in orchestrating regime change).

Zero Hedge
Facebook VP: "The Majority Of Russian Ad Spend Happened AFTER The Election"
Tyler Durden

Branko Milanovic — How is the world ruled?

Saturday evening musings.

Interesting in that it ties together politics and economics, and not the way political economy does either.

Global Inequality
How is the world ruled?
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace

Sputnik International — Ex-CIA Chief of Russia Ops [Stephen Hall]: US Has Carried Out Election Meddling Historically

“If you ask an intelligence officer, did the Russians break the rules or do something bizarre, the answer is no, not at all,” Steven L. Hall, former CIA chief of Russia operations, who retired in 2015 following 30 years of service, told the newspaper and noted that Washington “absolutely” has meddled in foreign elections historically.
The former intelligence official expressed hope that the United States will continue its interfering practice, the newspaper reported late on Saturday.
“We have been doing this kind of thing since the CIA was created in 1947 … We have used posters, pamphlets, mailers, banners — you name it. We have planted false information in foreign newspapers. We have used what the British call ‘King George’s cavalry’: suitcases of cash,” Loch K. Johnson, the former member of the US Senate Select Committee to Study Governmental Operations with Respect to Intelligence Activities, told the media outlet.
And when that didn't work, fomenting coups with covert operations. All documented.

But it is OK when "we" do it.

Sputnik International
Ex-CIA Chief of Russia Ops [Stephen Hall]: US Has Carried Out Election Meddling Historically

Oleg Komlik — The Goose and the Common — The Privatization of Public Space

An anonymous 18th century poem on enclosure of the commons. The result was the real tragedy of the commons for most people.

Economic Sociology and Political Economy
The Goose and the Common — The Privatization of Public Space
Oleg Komlik | founder and editor-in-chief of the ES/PE, Chairman of the Junior Sociologists Network at the International Sociological Association, a PhD Candidate in Economic Sociology in the Department of Sociology and Anthropology at Ben-Gurion University, and a Lecturer in the School of Behavioral Sciences at the College of Management Academic Studies

emptywheel — What Did Mueller Achieve with the Internet Research Agency Indictment?

Further, by criminalizing “information warfare” (as the Russians admitted they were engaged in, and as we do too, under the same name) we risk our own information warriors being indicted in other countries.
First time I've seen this mentioned. Now the US will have no grounds to stand on for its intrusive operations — other than it is OK when we do it.

Another matter is the law that was broken. It was not political interference in US elections but rather disclosure as required by law.
Effectively, Mueller is saying that it’s not illegal, per se, to engage in political trolling (AKA information warfare), but it is if you don’t but are legally obliged to register before you do so. That’s an important distinction, because much of what these trolls did is accepted behavior in American politics — all sides did this in 2016, with people tied to the campaign and just out of their own political will. Trolling (AKA information warfare) only becomes illegal when you don’t carry out the required transparency or reporting before you do so.
So in the future, all parties need do is disclose themselves as required.

What Did Mueller Achieve with the Internet Research Agency Indictment?

Backgrounder. If you aren't into details, here is the quick summary.
There you have it. There was no political point to what the Russian company did. Whatever political slogans one of the company's sock-puppets posted had only one aim: to increase the number of followers for that sock-puppet. The sole point of creating a diverse army of sock-puppets with large following crowds was to sell the "eyeballs" of the followers to the paying customers of the marketing company.
But the details are interesting, too.

And there are implications.
The indictment sets up a new theory of nefarious foreign influence that could be applied to even this blog.
"b" is German.
Author Leonid Bershidsky, who prominently writes for Bloomberg, remarks:
I'm actually surprised I haven't been indicted. I'm Russian, I was in the U.S. in 2016 and I published columns critical of both Clinton and Trump w/o registering as a foreign agent.
Moon of Alabama
Mueller Indictment - The "Russian Influence" Is A Commercial Marketing Scheme

John Glaser - America’s Creeping Regime Change in Syria

The American Conservative can't mention the Neocons, or their support for ISIS. They just say these wars are pointless to America's interest, but never ask the big question of why they are being waged. Surely they must have a look at Ron Paul's channel every now and again. But some of the readers mention Israel. KV
In eastern Syria last week, American air and ground forces attacked Syrian pro-government military units, killing roughly 100 people, including some Russian advisors. U.S. Army Colonel Thomas Veale described the attack as “taken in self-defense.”
“Self-defense”? Had the regime of Bashar al-Assad bombarded Boston Harbor? No, but it had attacked a base, long held by Syrian rebels, with U.S. military advisors present. Despite the tit-for-tat chronology here, it’s hard to see how Veale’s “self-defense” claim is tenable.
After all, as Secretary of State Rex Tillerson explained last month, the Trump administration has committed to an indefinite military presence of roughly 2,000 U.S. boots on the Syrian battlefield. Are these troops present at the behest of the host government? Certainly not. Has Congress ratified their deployment in some way? Guess again. Are they there preempting an imminent threat of attack on America? Nope. Are they under the mandate of a UN Security Council resolution? No.
In fact, the U.S. military presence in Syria has no legal authorization whatsoever. Those American forces are cooperating with Syrian rebels to, as Tillerson put it, “help liberated peoples” in territory outside Assad’s control “stabilize their own communities” and defend themselves against regime forces. This is, he added, “a critical step to creating the conditions for a post-Assad political settlement.”
Dispensing with the euphemistic flummery, U.S. forces are engaged in a kind of creeping regime change operation—the lessons of recent history be damned.

Simon Wren-Lewis — Do Trump’s deficits matter?

Mentions MMT. See comments also.

Mainly Macro
Do Trump’s deficits matter?
Simon Wren-Lewis | Professor of Economics, Oxford University
ht Ralph Musgrave

Ramanan — Paul Krugman, Twin Deficits And Centrism

Twin deficits and causality.

The Case for Concerted Action
Paul Krugman, Twin Deficits And Centrism
V. Ramanan

Alex Christoforou — Former CIA head [James Woolsey] says US meddles in election of other countries, but ‘for their own good’

Got that? When we do it, it's OK. Because freedom and democracy.

The Duran
Former CIA head [James Woolsey] says US meddles in election of other countries, but ‘for their own good’
Alex Christoforou


The Intercept
How UK Spies Hacked a European Ally and Got Away With It
Ryan Gallagher

Pat Lang — Mueller or DoJ should reach and announce closure on ...

Mueller has made a good start with the St. Petersburg 13. He needs to clear up the rest or these "loose ends" will remain forever in the realm of urban myth and partisan propaganda.
Sic Semper Tyrannis
Mueller or DoJ should reach and announce closure on ...
Col. W. Patrick Lang, US Army (ret.)
At the Defense Intelligence Agency, Lang was the Defense Intelligence Officer (DIO) for the Middle East, South Asia and counter-terrorism, and later, the first Director of the Defense Humint Service. At the DIA, he was a member of the Defense Senior Executive Service. He participated in the drafting of National Intelligence Estimates. From 1992 to 1994, all the U.S. military attachés worldwide reported to him. During that period, he also briefed President George H. W. Bush at the White House, as he had during Operation Desert Storm.
He was also the head of intelligence analysis for the Middle East for seven or eight years at that institution. He was the head of all the Middle East and South Asia analysis in DIA for counter-terrorism for seven years. For his service in the DIA, Lang received the Presidential Rank Award of Distinguished Executive. — Wikipedia

Viktor Katona — Russia Is Taking Over Syria’s Oil And Gas

In accordance with an energy cooperation framework agreement signed in late January, Russia will have exclusive rights to produce oil and gas in Syria.
The agreement goes significantly beyond that, stipulating the modalities of the rehabilitation of damaged rigs and infrastructure, energy advisory support, and training a new generation of Syrian oilmen. Still, the main international aspect and the key piece of this move is the final and unconditional consolidation of Russian interests in the Middle East....
Details follow. It is a daunting task to rebuild Syria's destroyed infrastructure. Iran and China are pitching in, while the US is trying to hang on as best it can without legitimacy.

Oil Price
Russia Is Taking Over Syria’s Oil And Gas
Viktor Katona | Group Physical Trader at MOL Group and Expert at the Russian International Affairs Council, currently based in Budapest

See also
There are even more deals in the pipe than this. As the energy ties slowly but steadily grow, the need for international cooperation in matters of security and defense in states like Syria, Iran, and Iraq also rise. For a long time the United States has been the big military power player in the region, but now with these developments, the West is being eased out of its decades-long role.
Russia Feed
Russia seals key energy pacts with Saudis, shaking up US Mideast dominance
Seraphim Hanisch

The occupied Syrian Golan Heights will “remain in Israel’s hands forever”, Israeli Prime Minister Benjamin Netanyahu has declared durin a meeting with UN Secretary-General Antonio Guterres.

Robert Vienneau — Marx Versus Classical Economics — and more

Robert Vienneau approaches thinking about Marx in relation to previous economists from the perspective of the different distinctions that Marx drew. This is entirely consistent with Marx's training in philosophy, since a cardinal principle of philosophical method is overcoming apparent difficulties in expression by drawing distinctions. This involves changing the grain of the model. A grainy model has the advantage of simplicity but risks the disadvantage of being too simplistic an account.

Importantly, Vienneau notices the purpose for which classical economics was constructed.
The spokesmen for the emerging and progressive capitalist class sought for a theory justifying their opposition to aristocrats and the and the ancien régime. And classical economics was that theory.
The result was what Marx viewed as "bourgeois liberalism," in which capitalists replaced the landed gentry as the beneficiaries of economic rent.

Some argue that neoclassical economics played a similar part as classical economics aimed at the ancien régime in being aimed at rising socialism, e.g., Marx and Engels, and Henry George.

Thoughts On Economics
Marx Versus Classical Economics
Robert Vienneau

See also

Short review of Tim Rogen's The Moral Economists.

The Enlightened Economist
Morals and economics
Diane Coyle | freelance economist and a former advisor to the UK Treasury. She is a member of the UK Competition Commission and is acting Chairman of the BBC Trust, the governing body of the British Broadcasting Corporationlso

See also

Marginal Revolution
*Enlightenment Now*, the new Steven Pinker book
Tyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center

Real-World Economics Review Blog
Polanyi’s six points
Zaman Assad


J. W. Mason's
The Class Struggle on Wall Street: A Footnote
JW Mason | Assistant Professor of Economics, John Jay College, City University of New York

Asia Times World braces for first real shot of Trump’s trade war

‘This would be beyond a trade war. You're talking about blowing up the WTO’
The US Commerce Department finally released its report on investigations into steel and aluminum imports on Friday, recommending wide-ranging tariffs and quotas on products coming into the United States.
It will be up to President Trump what he wants to do with the recommendations, though he has publicly indicated he sides with Commerce Secretary Wilbur Ross on the issue of trade restrictions. Cabinet members including Gary Cohn, Steven Mnuchin, Rex Tillerson and James Mattis are reportedly opposed to using the Section 232 law, cited by the report, to impose tariffs on national security grounds....
Asia Times
World braces for first real shot of Trump’s trade war