David L. Blond Blog

“The Problem is Capitalism – American-style, Shareholders Sovereign, Managerial Capitalism” by Dr. David L. Blond, Economist

The problem is lodged mainly in the underlying premise of globalization’s advocates that in a complex world economy fewer barriers improve efficiency and profits rather than national wellbeing. It assumes that gains from trade outweigh costs and dislocations caused by global competition; or that self-interest alone of the private sector will insure a smooth functioning of the markets. In my opinion, Nazi Germany had a smoothly functioning economy built on slave labor and profit for its members, but to survive…
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“Brexit and the New Normal” by Dr. David L. Blond

On Friday morning, June 23, 2016, the “Masters of the World,” the magicians of Wall Street and the City of London, awoke to a frightening future – the world they knew and could profit easily by manipulating pieces of paper to gain outsized fortunes and influence, no longer existed. Finance and the wizards of finance were under attack from the little folks. The little people, those left behind by the fast moving post-war world, had spoken, making a choice that…
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Greek Crisis by US Economist Dr. David Blond

The likely default of Greece and its conversion to the drachma from the euro is the inevitable consequence of a mix of institutional failures. It may also be a symptom of the greater problem of trying to mix a Latin country into the Calvinist-Germanic traditions that are at the heart of the euro compact. No doubt the Greeks should never have joined the euro, while remaining in the European Union. Greece is a country whose economy thrives on having low…
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Book Review: “The Phoenix Year” is a gripping macro-economic thriller!

"'The Phoenix year’ is a gripping macro-economic thriller that poignantly narrates an incredible tale of espionage, global conspiracy and puppet masters, set against a backdrop of an impending global crisis. What makes this book unique and highly enjoyable to the reader is the clarity with which the author captures the transmission mechanism between financial economics and the inevitable impact of these events on the lives of the protagonist and key characters in the story. The story is set in a…
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The Phoenix Year’s Look to Tomorrow by David Blond

The Phoenix Year was written many years back. The significant events take place late in 2016, so the forecast for the world economy that accompany the story line are broadly drawn from our expectations about tomorrow. So how much do I believe will come to pass and what is unlikely. One chapter “Washington Nightmares” stands out illustrating the events prior to 2016. “Washington Nightmares” offers some ideas about the period between 2015 through 2016. Some of the events highlighted: •…
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“The Phoenix Year” review by Janamitra Devan, PhD – Senior advisor to the Turkish Chair of the B20.

"The Phoenix Year is an easy to read, fast paced, thriller, but it is more than that. What I found wonderful about it is that it explains in laymen’s terms what happened to the American and the global economies, during the past decade, building a story around this that grips the reader. I found it fascinating, as a practicing economist, how well Blond developed an interesting story around the following idea: that managerial capitalism, where hired managers protect shareholders’ value…
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“The Phoenix Year” Review by Alan Fitzgerald

"David Blond has done a masterful job at weaving together a plot that skillfully draws from the recent financial crises and builds towards a plausible scenario. The Phoenix Year is a riveting story where the stakes are the disintegration of the global financial system at the hands of a recluse and the Society of the Phoenix he leads. It feels like this is an "inside" view that benefits tremendously from the author's extensive background as a professional economist and 'front…
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Is Capitalism Failing – the Von Kleise Manifesto (Part IV)

What will it take to make capitalism work in a world facing so many difficult to solve problems – from climate change with its potential to make the planet unlivable to the increasing gaps between the rich and the poor with its potential to create conditions for social revolution and war. The wealthy, socially minded, rich members of the Society of the Phoenix set out to save capitalism by destroying the current caretakers of capital – the captive Boards of…
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Is Capitalism Failing – the Von Kleise Manifesto (Part III) by David Blond

Heinrich von Kleise, in my novel The Phoenix Year, makes much the same arguments for why he and his friends have acted as they have. The current system will, by its very nature, with its independence of planning and thought, lead to the collapse of the economies on which companies must depend. Without a growing and increasingly wealthier circular flow of money between workers and final demand, then economies will run down, inertia will set in. The Phoenix Year explores…
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Is Capitalism Failing – the Von Kleise Manifesto (Part II) by David Blond

The economic recessions and periods of slow recovery that began with the 2000 crash of the IT Bubble has kept real incomes stagnant. For much of the period of the late 1990’s through today the blame for this has been the increasingly globalization of countries rich and poor forcing wages down. But now there is a new specter that may be more difficult to deal with -- labor saving, intelligent, technology capable of replacing skilled as well as unskilled labor.…
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