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Letters and Politics - August 14, 2012 at 10:00am

Letters and Politics, for August 14, 2012 - 10:00am

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Letters and Politics

Jeff Madler, author of Age of Greed, on what Paul Ryan VP nomination means for the campaign.

Jeff Patterson on the latest developments on the Bradley Manning case.

L&P Producer Diana Martinez on the Oakland Free Library.

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Jeff Madrick (not Madler)

Jeff Madrick (not Madler) has written at least three books: How Economies Grow, The Case for Big Government, and The Age of Greed. In How Economies Grow he makes the case that the essence of our present problem is weak aggregate demand. He argues convincingly that aggregate demand is the primary influence, and historically since the Renaissance has always been the primary influence, in growing robust economies. Other factors such as invention and innovation, supply side investment, and infrastructure improvements weigh in below the greatest market improver that is gradually expanding, broadly based aggregate demand. Nations that do not intervene legally by assisting workers gain wage increases are nations like Mexico, they are semi-slave enclaves. As KPFA listeners probably know the annual wage income in the private sector -- income to employees -- has risen by 5.7% over 30 years according to Lawrence Mishel the President of the Economic Policy Institute. The per capita economy has grown by more than 70%. Anyhow, Madrick is one of the clearest voices in the public conversation and if Mitch could get him on the air everyday it would not be too often.

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