Homo Economicus and Dethronement of the Profit Principle (tags)
Max Frisch summarized economism int he formula: "what brings profit is rational." Economism is a business ethics conception, a justification theory for profit maximization that declares ethics superfluous. Ultimately this is an "ethic" without morality.
Sweden: How the welfare state was stolen (tags)
The entrance of private equity from 2005-6 was a big shift. They created a totally different logic, where short-term extraction of profit was the only goal. In 2011 the shit really hit the fan.
True and False Causes of the Financial Crisis (tags)
If we can produce enough for all in superfluity-and we are already technically in this position-why must the whole enormous social wealth be squeezed through the needle of buying and selling, money, profit and growth? We all deserve something better than capitalist crisis economy.
Financial Crisis as Organized Irresponsibility (tags)
In the years 2002-2006, guaranteeing mortgage credits was the greatest source of profit for investment banks. US policy massively promoted and in no way curbed awarding dubious credits. In 2003 Warren Buffett described derivatives as "financial weapons of mass destruction."
True and False Causes of the Financial Crisis (tags)
The jubilant singing about free enterprise as the supposedly best of all worlds sounds much quieter than at the beginning of the 1990s. We urgently need alternatives. This is now a matter of survival. As it was taboo to doubt the rule of the church in the Middle Ages, the thought prohibition of questioning the market economy is in effect.
The Next Crash is Brewing (tags)
The economic way of thinking enforced for a quarter of century is one of the structural factors that helped this "economy of depression" breakthrough. This dominant doctrine denies the role of demand and concentrates on the problems limiting the supply of goods & services
The Legal Criminality of Finance Capitalism (tags)
The market mechanism, the Keynesians say, is not efficient or balanced. Charles Ponzi was one of the greatest swindlers of American history. Instead of the capitalist economy holding the strings of politics, politics could use economic power to create new realities.
Attac Germany on the Subprime Crisis (tags)
The crisis can't be solved with a few surveillance cameras in the global casino. The party was quickily over when the real estate prices stopped soaring. Investors are often guided by a herd behavior. Sustainable economy should have a prioirity over short-term profits.
Submissiveness Toward the Finance Markets (tags)
Finance market transactions must be made more expensive. Finance market critics warn of a casino capitalism. Are businesses only objects of speculation for global invewstment capital?
The Bubble as the Work of Criminals (tags)
A conscious and organized deceit, a criminal fraud, is perpetrated on investors when speculators create marketable securities out of bad mortgages on an overheated real estatemarket.
The present economic crisis has the capitalist class calling for state intervention again. They claim another bout of memory loss, they simply "forgot" the business cycle exists.
Where do the moneylenders get their money? (tags)
Accepting that labor creates all wealth alone will not open the road to our emancipation. Understanding how it creates it is paramount.