Carmine Gorga, Author at EconCurrents

Finding Economic Justice

By Carmine Gorga November 12, 2023economicsNo Comments

Locke abandoned the Doctrine of Economic Justice and replaced it with an analysis of the conditions that yield the justice of property rights. To which Marx, the Socialists, (and their predecessors) retorted: let us rather analyze the injustices of property rights. These are the contours within which the legal, social, economic, and political discourse has been carried out during the last few centuries. We might get out of this chasm, through an analysis in three parts. In Part I, we outline three fundamental mistakes in Marx’s analysis; in Part II, we analyze the existence and conditions of economic rights as generators of just property rights; in Part III, we complete the Theory of Economic Justice by adding the plank of Participative Justice to the two traditional planks of Distributive Justice and Commutative Justice.

Cancel Student Debt? NO!! Cancel ALL Debt.

By Carmine Gorga August 6, 2023economicsNo Comments

We hear much about the cancellation of student debt. While a worthy effort, not much thought has been given to its implications. And I do not mean economic implications alone. Let us start with a brief examination of a few social implications.

Four Economic Rights And Responsibilities

By Carmine Gorga July 16, 2023macroeconomicsNo Comments

Tools to Make the Corporation – and Governments – Serve the Needs of Human Beings

This paper identifies four economic rights and corresponding economic responsibilities in accordance with the needs of the factors of production: land, labor, and capital distinguished between physical and financial capital. Economic rights are the creators of property rights and find their justification in corresponding economic responsibilities. The implementation of these four rights and responsibilities is ideally suited to make the corporation serve the interests of human beings. A brief discussion of the role of governments in achieving this goal is also presented.

A Revision Of Keynes’ Model: The Roots Of Concordian Economics

By Carmine Gorga June 18, 2023UncategorizedNo Comments

Revised: 18 June 2023.

The paper on Keynes is brilliant.

. . . . –Prof. John C. Medaille

Money, Banking, and the Economic Process

By Carmine Gorga May 13, 2023macroeconomicsNo Comments

Surely, there is a reason why, in writing the General Theory, Keynes was in search of “a theory of output as a whole.”¹ Without it, one cannot understand money, banking, and the economic process.

Deep Social and Economic Wounds

By Carmine Gorga April 30, 2023economicsNo Comments

I have written of some deep, hidden wounds in the country quite a few times in recent years. The importance of the topic calls for a revisit. The occasion is especially propitious because I have lately approached the topic from the point of view of public service.

Three Types of Interdependence Funds

By Carmine Gorga February 12, 2023economicsNo Comments

This presentation outlines three types of Interdependence Funds: Local Interdependence Funds, National Interdependence Funds, and Global Interdependence Funds.

Economics and Hoarding

By Carmine Gorga January 28, 2023economicsNo Comments

Since the Great Financial Crisis of 2008, there have been headlines such as Europe banks hoarding ECB cash, threatening credit crunch (2012), Banks across Europe are considering taking a drastic step to avoid negative rates (2016), and Bank of America Clients Hoard Cash at Highest Level in Two Decades (2022). This first became a problem in the US during the Dot.com Crash (2001) and the GFC – and then shifted to Europe. After all this time, we in America might have a more dispassionate view of the issue. But the third reference above shows the problem of hoarding money persists.

Where is economic theory about hoarding? Hoarding is nowhere to be seen in mainstream economics. Herein we discuss why.

Image credit: Pixabay, Public Domain.

Measuring Economic Bubbles

By Carmine Gorga January 22, 2023economicsNo Comments

In Concordian economics, an economic bubble is defined as a separation of monetary wealth from real wealth. A bubble can be measured both geometrically and mathematically. Measures can be taken for the abatement of its negative effects.

Economics for Peace and Justice

By Carmine Gorga January 8, 2023economicsNo Comments

An immediate danger, the danger of nuclear holocaust, can be met with an efficacious solution, a grand design. President Biden, it is suggested, can offer the end of the dollar hegemony, a great desire of President Putin, for an end to the war in Ukraine. This bargain can be constructed out of the monetary policy that results from a New Neoclassical Synthesis extended to the creation of the Bancor International Order (BIO). Any nation that follows Three Rules for the creation and distribution of money, three rules of economic justice, can be certified by the IMF to become a member of BIO, provided it ceases any belligerent action.

Illustration 1. Nuclear Armageddon.
Image by Pete Linforth from Pixabay