Hope Moves In Shadowy And Offbeat Places: Bob Dylan, Death, And The Creative Spirit

=By= Edward Curtin

Editor's Note
This article is so much more than just another paean for Dylan. It is an exploration of life and the hope than drives it. Curtain says in the following piece: "The news of one creative spirit’s death gave birth to another creative spirit’s gift to life." And a recognition of the creative contribution of one has inspired an examination of creativity itself.

“The song ‘Political World’ could have been triggered by current events.  There was a heated presidential race underway …. But I had no interest in politics as an art form….The political world in the song is more of an underworld….With the song I thought I might have broken through to something.  It was like you wake up from a deep and drugged slumber and somebody strikes a little silver gong and you come to your senses.”   Bob Dylan, Chronicles

We live in dark times when the prison gates of seeming hopelessness clang shut around us.  Endless U.S. led and sponsored wars, a New Cold War, nuclear threats, economic exploitation, oligarchical rule, government spying, drone killings, loss of civil liberties, terrorism, ecological degradation, etc. – the list is long and depressing.

Awareness of a deep state hidden behind the marionette theatre of conventional politics has grown, even as the puppet show of electoral distractions garners the headlines.  Readers of the alternative media learn the truth of government conspiracies involving assassinations – JFK, MLK, RFK, et al. – and countless other evil deeds without cessation. Excellent writers uncover and analyze the machinations of those responsible.  Anger and frustration mount as people listen to a litany of bad news and propaganda spewed out by the mainstream corporate media.  It is easy to be overwhelmed and disheartened.

Despite the mute despair and apathy that fill the air, hope is needed to carry on and resist these destructive forces.  Sometimes in such a dark time the eye begins to see and the ear hears hope in unexpected places.  Doing so necessitates a bit of a sideways move to discover pockets of resistance hiding in the shadows.  There are torches of illumination in the underworld, but we need to come to our senses to get there.

“Emotion is the chief source of all becoming-conscious.  There can be no transforming of darkness into light and of apathy into movement without emotion.”  Carl Jung

If you’ve ever played music or basketball, fell dizzyingly in love, or lapsed into a spell writing words or being engrossed in a passionate pursuit, you’ll easily grasp what follows.  But maybe these specific experiences aren’t necessary.  You’ve lived, you’re alive, and you can hear the pitter-patter beat of your dribbling heart.  That’s probably plenty. You know the game can be a roller-coaster ride with all its ups and downs, and when it ends you will have won or lost something, exactly what being of the essence.

Rhythm, melody, and movement: from these life is born and sustained.  They are also integral to sports and art – music, writing, painting, sculpture, dance, etc. – even when they are apparently absent.

Tall Walking Figure by Alberto Giacometti. (Credit: Billy Liar.)

Tall Walking Figure by Alberto Giacometti. (Credit: Billy Liar.)

If, for example, one looks at Alberto Giacometti’s sculpture, Tall Walking Figure, its immobility implies movement.  Such paradoxical inclusiveness pertains to still-life painting as well.  While seemingly immobile, and defined by some as dead life, such paintings are encompassed by the presence of the absence of movement and change, the essence of all living things.  To grasp the paradoxical nature of art – and life – one must approach them as an artist and see the wholeness in broken pieces.  “Everything is broken,” Bob Dylan sings, “take a deep breath, feel like you’re choking.”

“Life is the best play of all.”   Sophie Michel, a 7 year-old musician

I think it is fair to say that living is the ultimate art and as the artists of our lives our medium is time and space.  And that it is in sound that time and space are epitomized.  Musical sounds carry us through time and space in a reverberating vital impulse.  Music brings us to our senses. Being emotional, it sets us in motion.  We are moved.

Sports, as the etymology of the word suggests (desporter – to divert), is a diversion from something.  Sports involve us in movement through time and space to an unnecessary goal where someone wins and someone losses.  In sports we choose to overcome superfluous obstacles for fun and for deeper reasons we may not realize.  Sports only matter because they don’t.

“What we play is life.”    Louis Armstrong

A few years ago my friends and I were playing in basketball tournaments for men over fifty and we qualified for the Senior Olympics at the University of Pittsburgh.  We acquired a sponsor, a local funeral home that made warm-up jerseys for us.  Being used to dealing with bodies at rest, these comedians knew we were a bunch of aging hoopsters intent on keeping our bodies in motion for as long as we could.  So they had shirts made with that up-beat and adolescent cliché printed on the front, “Basketball is Life.”   Lest we forgot, and being in the trade of taking bodies at rest to the underworld, on the back they had printed “Leave the Rest to Us: Flynn and Dagnoli Funeral Home.”

Most of us found the juxtaposition hilarious (including one funny Irishman who ended up dead at the funeral home), but one teammate found it disturbing, which gave the rest of us additional sardonic laughs.  Sex and death and one’s ongoing vitality are the stuff of uneasy laughter in the locker rooms of aging men.  It’s a place for essentials.

“He was like a great singer with a style all his own, a pacing that was different, a flair for the unusual.”   Chick Hearn, play-by-play announcer for The Los Angeles Lakers about Pete Maravich

I was reminded of this as I was rereading bits of Bob Dylan’s fascinating and poetic memoir, Chronicles: Volume I, and came upon his recounting of hearing of the news of the death of “Pistol” Pete Maravich, the greatest scorer in college basketball history and a magician without par on the court.  It was January 5, 1988.

My aunt was in the kitchen and I sat down with her to
talk and drink coffee.  The radio was playing and morn-
ing news was on.  I was startled to hear that Pete Maravich,
the basketball player, had collapsed on a basketball court in
Pasadena, just fell over and never got up.  I’d seen Maravich
play in New Orleans once, when the Utah Jazz were the New
Orleans Jazz.  He was something to see – mop of brown hair,
floppy socks – the holy terror of the basketball world – high
flyin’ – magician of the court.  The night I saw him he dribbled
the ball with his head, scored a behind the back, no look basket –
dribbled the length of the court, threw the ball up off the glass
and caught his own pass.  He was fantastic.  Scored something
like thirty-eight points.  He could have played blind.  Pistol Pete
hadn’t played professionally for a while, and he was thought of
as forgotten.  I hadn’t forgotten about him, though.  Some people
seem to fade away but then when they are truly gone, it’s like
they didn’t fade away at all.

Dylan has the poet’s touch, of course, a hyperbolic sense of the fantastic that draws you into his magical web in the pursuit of deeper truth.  In ways he’s like the Latin American magical realist writers who move from fact to dream to the fantastic in a puff of wind.

He goes on to write that after hearing the news of Pistol Pete’s sad death playing pickup basketball, he started and completed the song “Dignity” the same day, and in the days that followed song after song flowed from his pen.  The news of one creative spirit’s death gave birth to another creative spirit’s gift to life.  (I am reminded of Shakespeare writing Hamlet after his father’s death.) “It’s like I saw the song up in front of me and overtook it, like I saw all the characters in this song and elected to cast my fortunes with them …. The wind could never blow it out of my head.  This song was a good thing to have.  On a song like this, there’s no end to things.”

One can hear echoes of Hemingway, another artist obsessed with death, in those last few sentences.  Unlike Hemingway, however, Dylan’s focus on death is in the service of life and hope. For him there is no end, while Hemingway is all ending – nada, nada, nada – nothing, nothing, nothing – “it was all a nothing and a man was nothing too,” he writes in his haunting story, “A Clean, Well-Lighted Place.”  Dylan’s focus on the shadow of death is seen within the light of life – todo – all or everything. The darkness is there but is encompassed by the light.  Nada within todo. As he told the AARP magazine last year in a fascinating interview, he’s been singing about death since he’s been twelve.  And out of that singing – year after year for fifty plus years and counting – he has found and expressed the light of hope.

Bob Dylan

Bob Dylan (Credit: Moderate Voice)

Dylan is our Emerson.  His artistic philosophy has always been about movement in space and time through song.  Always moving, always restless, always seeking a way back home through song, even when, or perhaps because, there are no directions.  “An artist has got to be careful never to arrive at a place where he thinks he’s at somewhere,” he’s said.  “You always have to realize that you are constantly in a state of becoming and as long as you can stay in that realm you’ll be alright.”

Sounds like living, right.

Sounds like Emerson, also.  “Life only avails, not the having lived.  Power ceases in the instant of repose; it resides in the moment of transition from a past to a new state, in the shooting of the gulf, in the darting to an aim.  Thus one fact the world hates, that the soul becomes.”

It was about ten years ago when we traveled to that Senior Basketball Olympics at the University of Pittsburgh.  We drew many uneasy smiles as we paraded around with the backs of our shirts announcing the services of the men who take us to the underworld.   We won a few games and lost others; were eliminated and left for home disappointed, some of us more than others, depending on each man’s competitive fire to defeat the foe.  Like all athletes, losing felt like a small death.  Even small deaths are hard to swallow, however, especially when knowing how way leads on to way and you doubt you will ever come back.  As evening was darkening the Amish countryside, we departed east through country roads in silence, each lost in his interior monologue on the journey ahead.  Playing low on the radio, from my back seat I could barely make out Dylan singing, “It’s not dark yet, but it’s getting there.”

Two years ago there was a short Grantland documentary, “The Finish Line,” about Steve Nash, the latest Pistol Pete.  An uncanny player, Nash was battling injuries and age, and the documentary shows him pondering whether or not to retire or continue his rehabilitation and attempt a comeback.  In the opening scene Nash goes out with his dog into the shadowy pre-dawn where he muses on his dilemma.  His words are hypnotic.  “I feel,” he said, “that there’s something that I can’t quite put my finger on that – I don’t know – I feel that it’s blocking me  or I can see it out of the corner of my mind’s eye, or it’s like this dark presence ….is it the truth that I’m done?”

Hobbled by a nerve injury that severely limited his movement, he played a few more games and retired within a year.  Like Pete Maravich, he had brought an infectious joy to his playing, but he left without fulfilling his dream of winning an NBA championship.  Of his retirement he said, “It’s bittersweet.  I already miss the game deeply, but I’m also really excited to learn to do something else.”  Unlike many athletes, Nash was moving on; his “dark presence” wasn’t a final death but a step on the road to a hard rebirth.  It was a Dylanesque restless farewell: “And though the line is cut/It ain’t quite the end/I‘ll just bid farewell till we meet again.”

“A song is like a dream, and you try to make it come true.  They’re like strange countries that you have to enter.  You can write a song anywhere …. It helps to be moving.  Sometimes people who have the greatest talent for writing songs never write any because they are not moving.”    Bob Dylan, Chronicles

Dylan has long been accused of abandoning his youthful idealism and protest music.  I think this is a bum rap.  He was never a protester, though his songs became anthems of the civil rights and anti-war movements.  There is no doubt that those songs were inspirational and gave people hope to carry on the good fight.  But in turning in a more oblique and circumspect musical direction, following his need to change as the spirit of inspiration moved him, Dylan’s songs have come to inspire in a new way. You know his sympathies lie with the oppressed and downtrodden, but he doesn’t shout it.  A listener has to catch his drift. If you go to the music, and dip into his various stylistic changes over the decades, you will find a consistency of themes.  He deals with essentials like all great poets.  Nothing is excluded.  His work is paradoxical.  Yes, he’s been singing about death since twelve, but it has always been countered by life and rebirth.  There is joy and sadness; faith and doubt; happiness and suffering; injustice and justice; romance and its discontents; despair and hope.  His music possesses a bit of a Taoist quality mixed with a Biblical sensibility conveyed by a hopelessly romantic American.  He has fused his themes into an incantatory delivery that casts a moving spell of hope upon the listener.  He is nothing if not a spiritual spell-binder; similar in many ways to that other quintessential American – the Beat poet Allen Ginsberg, whose best work was a poetic quest for an inspired salvific poetry.

If the listener is expecting an argument, a thesis, inductive reasoning, or a didactic approach from Dylan, he is out of luck, and rather than be inspired he will be disappointed.  This is art, not theory, and art of a special kind since Dylan is an artist at war with his art.  His songs demand that the listener’s mind and spirit be moving as the spirit of creative inspiration moved Dylan.  A close listening will force one to jump from verse to verse – to shoot the gulf – since there are no bridges to cross, no connecting links.  The sound carries you over and keeps you moving forward. If you’re not moving, you’ll miss the meaning.

“A bird does not sing because it has an answer.  It sings because it has a song.” Chinese Proverb

So if the world is getting you down and all the news is bad to your ears, don’t lose hope.  Step to the side, out of the glare of the sun, the blare of the headlines where lies and fears shout in our ears and echo down our days like a repetitive nightmare.  Give Dylan a listen.  As he has said of spiritual songs, “They brought me down to earth and they lifted me up all in the same moment.”  His songs have the same paradoxical power because he excludes nothing. That is why they are truthful.

It is fitting that his latest album, “Shadows in the Night,” comprised of ten beloved old ballads sung by Frank Sinatra, from “The Night We Called it a Day” to “Some Enchanted Evening,” has him changing again, going back to go forward.  He is full of surprises, which any child will tell you bring joy because surprises and change are the core of living.  To change this crazed world, we must change and find hope and joy along the way.  Repetition will kill us.  Dylan’s artistic metamorphoses and ingenious song writing offer offbeat sources of hope.  Just listen.

Having been compared to Frank Sinatra with these songs, he’s said, “You must be joking.  To be mentioned in the same breath as him must be some sort of high compliment.  As far as touching him goes, nobody touches him.  Not me or anyone else …. But he never went away.  All those things we thought were here to stay, they did go away.  But he never did.”  Sinatra, like Pistol Pete, didn’t fade away because he too inspired Dylan to inspire us to hope and carry on.  If it feels dark and night-like to you, move sideways into the shadows.  Look away and you’ll see the light.

Or if you like basketball or dancing, like to move to the beat, listen to Dylan singing “Hurricane,” a long narrative song about the framing of the boxer Ruben “Hurricane” Carter.  It will get your blood flowing, your passions riled, and your body moving.  It’s perfect for practicing all the dribbling tricks Pistol Pete performed.  I thought of using it at the Senior Olympics, but the beat seemed a little too rapid and excitable for the over fifty AARP crowd.  The shirts were sending an undertaking message that I didn’t want made real.  Hope is one thing, but traveling too fast is another.  Anyway, one of my teammates was in swift pursuit of a woman there whom he described as a twin of his ideal woman – Pamela Anderson.  He didn’t need any more excitement.

 

Screen Shot 2016-01-23 at 2.38.28 PMEdward Curtin is a  writer who teaches at Massachusetts College of Liberal Arts and has published widely.


 

Note to Commenters
Due to severe hacking attacks in the recent past that brought our site down for up to 11 days with considerable loss of circulation, we exercise extreme caution in the comments we publish, as the comment box has been one of the main arteries to inject malicious code. Because of that comments may not appear immediately, but rest assured that if you are a legitimate commenter your opinion will be published within 24 hours. If your comment fails to appear, and you wish to reach us directly, send us a mail at: editor@greanvillepost.com

We apologize for this inconvenience.

horiz-long grey

Screen Shot 2015-12-08 at 2.57.29 PMNauseated by the
vile corporate media?
Had enough of their lies, escapism,
omissions and relentless manipulation?

GET EVEN.
Send a donation to

The Greanville Post–or
SHARE OUR ARTICLES WIDELY!
But be sure to support YOUR media.
If you don’t, who will?

horiz-black-wide
ALL CAPTIONS AND PULL-QUOTES BY THE EDITORS, NOT THE AUTHORS.





THE NOBEL PRIZE IN ECONOMICS? THERE IS NO NOBEL PRIZE IN ECONOMICS

Capitalist mythologies and lies exposed—
Editor’s Note: Correspondent Levine does a pretty smashing job of unmasking this phony prize, but of late we have seen that otehr prices, notably the “Peace Prize” is also mighty suspect.  Fact is, they are all subject to political chiseling. —PG

Fanatic Friedrich Hayek: like all bourgeois economists, a fraud from the start. 

By Yasha Levine, the eXileD

It’s Nobel Prize season again. News reports are coming out each day sharing the name of the illustrious winner of the various categories — Science, Literature, etc. But there’s one of the prizes that’s a little different. Well, that’s putting it lightly… you see, the Nobel Prize in Economics is not a real Nobel. It wasn’t created by Alfred Nobel. It’s not even called a “Nobel Prize,” no matter what the press reports say.

The five real Nobel Prizes—physics, chemistry, literature, peace, and medicine/physiology—were set up in the will left by the dynamite magnate when he died in 1895. The economics prize is a bit different. It was created by Sweden’s Central Bank in 1969, nearly 75 years later. The award’s real name is the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.” It was not established by Nobel, but supposedly in memory of Nobel. It’s a ruse and a PR trick, and I mean that literally. And it was done completely against the wishes of the Nobel family.

Sweden’s Central Bank quietly snuck it in with all the other Nobel Prizes to give retrograde free-market economics credibility and the appearance of scientific rigor. One of the Federal Reserve banks explained it succinctly, “Few realize, especially outside of economists, that the prize in economics is not an “official” Nobel. . . . The award for economics came almost 70 years later—bootstrapped to the Nobel in 1968 as a bit of a marketing ploy to celebrate the Bank of Sweden’s 300th anniversary.” Yes, you read that right: “a marketing ploy.”

Here’s a Nobel family member describing it: “The Economics Prize has nestled itself in and is awarded as if it were a Nobel Prize. But it’s a PR coup by economists to improve their reputation,” Nobel’s great great nephew Peter Nobel told AFP in 2005, adding that “It’s most often awarded to stock market speculators. . . .  There is nothing to indicate that [Alfred Nobel] would have wanted such a prize.”

Members of the Nobel family are among the harshest, most persistent critics of the economics prize, and members of the family have repeatedly called for the prize to be abolished or renamed. In 2001, on the 100th anniversary of the Nobel Prizes, four family members published a letter in the Swedish paper Svenska Dagbladet, arguing that the economics prize degrades and cheapens the real Nobel Prizes. They aren’t the only ones.

Scientists never had much respect for the new economic Nobel prize. In fact, a scientist who headed Nixon’s Science Advisory Committee in 1969, was shocked to learn that economists were even allowed on stage to accept their award with the real Nobel laureates. He was incredulous: “You mean they sat on the platform with you?”

That hatred continues to simmer below the surface, and periodically breaks through and makes itself known.  Most recently, in 2004, three prominent Swedish scientists and members of the Nobel committee published an open letter in a Swedish newspaper savaging the fraudulent “scientific” credentials of the Swedish Central Bank Prize in Economics. “The economics prize diminishes the value of the other Nobel prizes. If the prize is to be kept, it must be broadened in scope and be disassociated with Nobel,” they wrote in the letter, arguing that achievements of most of the economists who win the prize are so abstract and disconnected from the real world as to be utterly meaningless.

The question is: Why would a prize that draws so much hatred and negativity from the scientific community be added to the Nobel roster so late in the game? And why economics?

To answer that question we have to go back to Sweden in the 1960s.

Miss Universe 1966: Margareta Arvidsson

Around the time the prize was created, Sweden’s banking and business interests were busy trying to ram through various free-market economic reforms. Their big objective at the time was to loosen political oversight and control over the country’s central bank.

According to Philip Mirowski, a professor at the University of Notre Dame who specializes in the history economics, the “Bank of Sweden was trying to become more independent of democratic accountability in the late 60s, and there was a big political dispute in Sweden as to whether the bank could have effective political independence. In order to support that position, the bank needed to claim that it had a kind of scientific credibility that was not grounded in political support.”

Promoters of central bank independence made their arguments in the language of neoclassical market efficiency. The problem was that few people in Sweden took their neoclassical babble very seriously, and saw their plan for central bank independence for what it was: an attempt to transfer control over economic matters from democratically elected government and place into the hands of big business interests, giving them a free hand in running Sweden’s economy without pesky interference from labor unions, voters and elected officials.

And that’s where the Swedish Central Bank Prize in Economic Sciences came in.

The details of how the deal went down are still very murky. What is known is that in 1969 Sweden’s central bank used the pretense of its 300th anniversary to push through an  independent prize in “economic science” in memory of Alfred Nobel, and closely link it with the original Nobel Prize awards. The name was a bit longer, the medals looked a little different and the award money did not come from Nobel, but in every other way it was hard to tell the two apart. To ensure the prize would be awarded to the right economists, the bank managed to install a rightwing Swedish economist named Assar Lindbeck, who had ties to University of Chicago, to oversee the awards committee and keep him there for more than three decades. (Lindbeck’s famous free-market oneliner is:  “In many cases, rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.”)

<<<<For the first few years, the Swedish Central Bank Prize in Economics went to fairly mainstream and maybe even semi-respectable economists. But after establishing the award as credible and serious, the prizes took a hard turn to the right.

Over the next decade, the prize was awarded to the most fanatical supporters of theories that concentrated wealth among the top 1% of industrialized society of our time.

In 1974, five years after the prize was first created, it was awarded to Friedrich von Hayek, the leading laissez-faire economist of the 20th century and the godfather of neoclassical economics. Milton Friedman, who was at the University of Chicago with Hayek, was not far behind. He won the prize just two years later, in 1976.

Both Hayek and Friedman were huge supporters of the political independence of central banks. In fact, they built their careers on bashing government intervention in economic matters. Hayek developed a whole business cycle theory that blamed government and government-controlled banking systems for all economic problems. Friedman came out with a whole new subsection of neoclassical economics called “Monetarism” that had a scientific formula worked out, specifying exactly how much money central bankers needed to keep floating around in the economy to keep inflation low and unemployment high enough to keep big business happy. No democratic control over banking policies needed, just let the free-market do its thing!  The Swedish central bankers couldn’t get better spokesmen for their cause.

But Hayek and Friedman’s usefulness went way beyond Sweden.

At the time of the prizes, neoclassical economics were not fully accepted by the media and political establishment. But the Nobel Prize changed all that.

What started as a project to help the Bank of Sweden achieve political independence, ended up boosting the credibility of the most regressive strains of free-market economics, and paving the way for widespread acceptance of libertarian ideology.

Take Hayek: Before he was won the award, it looked like Hayek was washed up. His prospect of ever being a mainstream economist was essentially over. He was considered a quack and fraud by contemporary economists, he had spent the 50s and 60s in academic obscurity, preaching the gospel of free-markets and economic Darwinism while on the payroll of ultra-rightwing American billionaires. Hayek had powerful backers, but was stuck way out on the fringes of reactionary-right subculture.

But that all changed as soon as he won the prize in 1974. All of a sudden his ideas were being talked about. Hayek was a celebrity. He appeared as a star guest on NBC’s Meet the Press, newspapers across the country printed his photographs and treated his economic mumblings about the need to have high unemployment as if they were divine revelations. His Road to Serfdom hit the best-seller list. Margret Thatcher started waving around his books in public, saying “this is what we believe.” He was back on top like never before, and it was all because of the fake Nobel Prize created by Sweden’s Central Bank.

“Unemployment is necessary karmic price of past inflationary policies”

Billionaire Charles Koch brought Hayek out for an extended victory tour of the United States, and had Hayek spend the summer as a resident scholar at his Institute for Humane Studies. Charles, a shrewd businessman, quickly put the old man to good marketing use, tapping Hayek’s mainstream cred to set up Cato Institute in 1974 (it was called the Charles Koch Foundation until 1977), a libertarian thinktank based on Hayek’s ideas. [Read eXiled eXclusive: Charles Koch told Hayek to use Social Security.]

Even today, Cato Institute pays homage to the Swedish Central Bank Prize’s marketing role in the mainstreaming of Hayek’s ideas and Hayek’s influence on the outfit:

The first libertarian to receive the Nobel Prize was F.A. Hayek in 1974. In the years leading up to the prize announcement, Hayek had reached a professional and personal nadir. Unable to maintain an appointment in the United States, Hayek had returned to Austria to take up a position at the University of Salzburg, Austria. With the announcement of the prize in 1974, however, Hayek’s work, and the fortune of Austrian economics, took a remarkable turn.

Hayek’s influence on Cato is profound. Two of Cato’s first books were by Hayek: A Tiger by the Tail: The Keynesian Legacy of Inflation & Unemployment and Monetary Policy: Government as Generator of the “Business Cycle.” Perhaps more than any other intellectual in the twentieth century, Hayek has inspired Cato and its researchers to develop policies that ensure a free society. When Cato moved into its current location in 1992, its auditorium was named in Hayek’s honor.

Friedman’s Nobel Prize had a similar impact. After getting the prize in 1976, Friedman wrote a best seller, got his own 10-part PBS series “Free to Choose” and became President Ronald Reagan’s economic advisor, where he had a chance to put the free-market policies he developed in Chile under Pinochet.

Like Hayek, Friedman was a big Pinochet fanboy. He would spend the rest of his time denying it, but he was deeply involved and invested in the Pinochet’s totalitarian free-market experiment. Chilean economist Orlando Letelier published an article in The Nation in 1976 outing Milton Friedman as the “intellectual architect and unofficial adviser for the team of economists now running the Chilean economy” on behalf of foreign corporations. A month later Letelier was assassinated in D.C. by Chilean secret police using a car bomb.

President Bush gives his pet free-market troll a pat on the head…
Friedman’s monetary theory was used by Federal Reserve Bank Chairman Paul Volcker to restrict the money supply, plunging American into a deep recession, doubling the unemployment rate, and had the added bonus of getting Reagan elected President. . . . And Hayek and Friedman were just the beginning.

For instance, in 1997 two economists won an award for their derivative risk models that minimized risk, just before derivatives would explode in the 2000s real estate-bubble.

The award was shared by economists Robert Merton and Myron Scholes for their work in figuring out how to value derivatives so as to minimize risk. The two economists used their Nobel-worthy economic models to run “the world’s biggest hedge fund,” which was called Long Term Capital Management (LTCM). And the fund really lived up to its name. Nine months after winning the Swedish Central Bank Prize in Economics, LTCM went belly-up, racking up over $1 billion in losses over a period of just two days. It was of course bailed out by then-Federal Reserve Chairman Alan Greenspan, who considered LTCM “too big to fail.”

Then there’s Vernon Smith. In 2002, Vernon Smith, adored and funded by Libertarians like Charles Koch, won the “Nobel” — his patron looked at the money he spent funding Smith’s academic career as a successful speculatory venture, saying simply: “The Koch Foundation’s gift was an excellent investment.” Smith’s research basically entailed setting up theoretical “wind tunnels” to test how free-markets would respond in various conditions—all in a way that has nothing to do with reality.

As of 2011, 10 out of the 69 economists who’ve won the fake Nobel prize are Koch-connected libertarians.

It will take a brave act to bring this sham to the attention of the public. One year, one of the prize winners will have to speak out, and explain this ruse to the public as he wins the award.

This article was first published on AlterNet

***
ABOUT THE AUTHOR
Yasha Levine is an eXiled editor, a noted investigative journalist, and co-founder of the supremely useful S.H.A.M.E. [the media] Project. Read his book: The Corruption of Malcolm Gladwell.

Book Description
Publication Date: August 9, 2012
It may be hard to imagine that Malcolm Gladwell, a staff writer for the New Yorker and bestselling author beloved by millions of readers, could be a crooked propagandist for some of the most toxic and destructive industries on the planet. Investigative journalist Yasha Levine didn’t think it was possible, either—at least not until he happened to stumble across an old article by Gladwell defending the tobacco industry, and discovered a paper trail that led him to the shocking truth…
Levine presents well-sourced evidence showing that Gladwell spent his entire career systematically and unapologetically shilling for Big Tobacco, Pharma, health insurance companies and defending Wall Street financial fraud, all while earning seven figures as one of the most sought-after corporate speakers in America, frequently being paid by the same companies and industries that he covers as a journalist. Levine unravels years of Gladwell’s work as a covert propagandist, and analyzes the techniques Gladwell uses to confuse readers, redirect their attention and slyly rewrite history for the benefit of his sponsors—without anyone getting wise to his racket.

Let’s keep this award-winning site going!

Yes, audiences applaud us. But do you?If yes, then buy us a beer. The wingnuts are falling over each other to make donations…to their causes. We, on the other hand, take our left media—the only media that speak for us— for granted. Don’t join that parade, and give today. Every dollar counts.
Use the DONATE button below or on the sidebar. And do the right thing. Even once a year.

Use PayPal via the button below.

THANK YOU.

 

//