The Two Santa Claus Theory of Economic Growth and the Prospects of Modern Monetary Theory (MMT)
Intentional deficit spending is not strictly a Democratic agenda. Republicans pushed related ideas with the Two Santa Claus Theory: deficit spending and tax cuts for the rich. Written in March 1976, by Wall Street Journal editorial writer, Jude Wanniski stressed that for economy to be healthy, US politics should have a division of labor between Democrats and Republicans.
FROM NEW DEAL TO GREEN NEW DEAL, Part 1: Roosevelt Saves Capitalism
“I pledge you, I pledge myself, to a new deal for the American people.” – FDR in the summer of 1932. Recent discussions about a proposed Green New Deal encouraged me to review some of my notes on the original New Deal and if it could provide relevant insights into our current situation. The New […]
Times Square’s Luminescent News Tickers and Public Spaces
Times Square has a storied history as one of the planet’s more recognizable public spaces. Its “zipper” is an electronic news display that has reported and reflected our collective response to news events. It helped establish Times Square as the place to be when major events happen, as we are reminded every New Years Eve. […]
“Run to Goshen Regardless of Opposing Train”
The quote “Run to Goshen regardless of opposing train” by a superintendent for the New York & Erie Railroad marked an event that had a significant impact on US history, as it spurred the development of both railroads and the telegraph.
Black Friday and Thomas Edison’s Stock Ticker
This post continues the story about gold and the greenback dollar and how their trading dynamics led to the invention of some early electro-mechanical technology to indicate financial prices. During the height of speculative activity in 1869, a young telegrapher named Thomas Edison came to Wall Street and made a fortune. He didn’t make it […]
America’s Financial Futures History
In his book, Nature’s Metropolis, (1991) William Cronen discussed the rise of Chicago as a central entrepot in the formation of American West. The city was strategically located between the western prairies and northern timberlands and with access routes by river and the Great Lakes. As a dynamic supplier of the nation’s food and lumber […]
Railroads and Western Union Connect a Continent
This is a section from my upcoming book Telegraphy, Tabulation, and Time-Space Power: Information Technologies and Financial News in Early America. The geographic expanse and rugged terrain of the American West presented major challenges to overland transportation and the expansion of telegraphic communication. Attempts to conquer these obstacles would shape the American frontier for years […]
Gold, Greenbacks and Invention of Electric Indicators for Financial News
Discovered first at Sutter Creek, California, the precious metal introduced a new flow of currency and capital into the US economy. The challenges brought on by the new wealth set in motion technological changes as well. The telegraph was bringing in a new age of electrical innovation, and one of its first creations was the gold indicator.
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About Me
Professor at State University of New York (SUNY) Korea since 2016. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and strategic communications.
You can reach me at:
apennings70@gmail.com
anthony.pennings@sunykorea.ac.kr
About me
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