Saving the planet means saving the world (tags)
Instead of today’s economic system, which increases inequality, a new system is indispensable, according to Rockström and colleagues. What is needed is a ‘wellbeing economy’ which serves people and the planet—rather than people and the planet serving the economy, as the Wellbeing Economic Alliance (WeAll) puts it.
Capitalism as Mental Illness (tags)
As to the stress mechanism, Adam Smith supplied that with his theory of “selfish interest” providing collective benefit. And while it’s inarguable that being forced to compete in a self reinforcing and ever accelerating rat race has provided us with many industrial and technological milestones, we must ask ourselves: at what cost? The fracture of social cohesion?
Mking the Kingdom of God Present (tags)
Freedom does not come from the market. Rather, in socialist terms, we need a market to which we are free. What we have, on the other hand, is a market that dictates everything. Our Mrs. Merkel says that democracy must conform to the market. What we have developed in our work in Costa Rica runs exactly the opposite way: the market must conform to democracy.
Noam Chomsky on Why This is the Most Dangerous Point in Human History (tags)
We live in a world facing existential threats while extreme inequality is tearing our societies apart and democracy is in sharp decline. The U.S., meanwhile, is bent on maintaining global hegemony when international collaboration is urgently needed to address the planet’s numerous challenges.
The Great Leap Backward (tags)
Scoop, the swami from Miami, addressed KFOG listeners in the Bay Area as fogheads. The United States would be much better off without the self-appointed burden of keeping the world “safe” and “free” with the threat of our nuclear weapons.
Capial in the 2020s (with Thomas Piketty) (tags)
Inequality is not an accident. It’s not like the weather. It actually is being driven by the way capitalism is functioning. You know what we need? We need state intervention, we need government action, and we need that to be very, big. He proposes a wealth tax of 2 percent.
Can state-capitalist China inherit the USA as hegemon? (tags)
China's growth is also running on credit, and the People's Republic is similarly highly indebted as the descending Western centers of the world system.10 The Chinese deficit economy is generating even far greater speculative excesses than was the case in the U.S. or Western Europe,
Why China wont replace the US as hegemon. Chaos instead of hegemony (tags)
China's growth is also running on credit; the People's Republic is similarly indebted to the descending Western centers of the world system. This trend toward de-dollarization can only be properly understood against the backdrop of the imperial descent of the United States.
Battle for Social Democracy and Unfettered Capitalism (tags)
Two opposing schools of thought face each other at the sickbed: neoliberalism and social democracy. Didn't the death-bells of neoliberals ring in the course of the financial market crisis? Were not neoliberals unmasked who first caused the whole mess with their deregulation?
Let the advertising die! (tags)
Advertising leads to useless purchases because it often persuades consumers to have needs instead of satisfying existing desires. This leads to excessive consumption of resources and materials and thus damages the environment.
Hysterical Populism and the Appetite of Leviathan (tags)
The relationship between economy and social order has been turned upside down: economy is no longer a function of an overarching culture, but conversely, "human society has sunk to being an accessory of the economic system" (Karl Polanyi). RK was founder of Exit & Krisis blogs.
A new quality of crisis (tags)
From the systemic urge to self-destruction arises the survival necessity of the emancipatory overcoming of capital. The capitalist regime of constraint must be transformed into history. The struggle for the transformation of the system has to be the central moment of left practice.
Is China in danger of collapse? and Anti-economics and anti-politics (tags)
In the process of modernization, the relationship between market and state can be boiled down to the formula of a general law: the more market, the more state... The bloated market and the bloated state can only live or die together.
We only live in half a democracy (tags)
The machine used in the production process counts more in the constitution than the working person who created this machine in the first place. As a result, the employees in the production process are hopelessly inferior to the capital owners. That is the legal situation. But it doesn't have to stay that way.
Capitalism is not natural (tags)
Political programs in the 20th century, then, were meant to create equality, not merely alleviate poverty. How we live collectively, what we value as a society, and how we want to conceive of ourselves - all these questions were politicized by these programs...
Lessons from the First New Deal for the Next One (tags)
Top Economist: As Pandemic Recedes, a Chance to Rethink Unemployment (tags)
The Chamber of Commerce, for example, has pushed the U.S. to stop expanded unemployment insurance benefits so that people will be forced to return to low-wage jobs. Some Republican-dominated states have jumped on board with this idea.
Crisis of Privatization - Return of the Public Sphere (tags)
The water supply for the population of Paris is to be completely restored to public ownership from 2009 on, as the Socialist mayor Delanoe announced on June 2nd 2008... Adam Smith already advocated that such “public goods“ have to be provided by the state.2
Against the neoliberal denunciation of the welfare state (tags)
No economist is so misunderstood and misinterpreted as Adam Smith. Many consider him to be an advocate of the "free market" and narrow-minded egoism. What a mistake! Smith saw an important and strong role for the state.
On the Power of Money: Three by Eugen Drewermann (tags)
Only faith (as in a religion), the "invisible hand," the "law" of the "free" market can judge everything. State interventions can only be annoying. The market itself is allegedly "social". Everyone acts according to his advantage. The system is not social but criminal and unjust.
From Ayn Rand to Paul Ryan: Capitalism as Morality (tags)
Society doesn't play any role in Ayn Rand's perspective. Rand reduced persons to the bourgeois who only thinks in economic categories and only needs to respect himself and no one else - unlike the citizen engaged in society and actively championing enlightenment.
Karl Polanyi on Unfettered Capitalism (tags)
Karl Polanyi condemned profit greed and deregulated markets. Today's capitalism critics are his heirs and don't know it. An unfettered capitalism is responsible for the world coming out of joint. "Finance capital was put in the driver's seat."
Ten Years After the Financial Crash (tags)
US economic statistics are dubious since financial markets are based on financial products and money out of nothing. Tax havens, micro-second betting, stock buybacks and corruption through lobbying are market-distorting and cause revenue shortfalls.
Neoliberalism or New Freedom for Corporations (tags)
"The interests of merchants always differ from public interests. As a rule, they are interested in deceiving and misusing the general public" (Adam Smith). Keynes established that the market alone cannot ensure the prosperity of everyone.
Trump & Republican Party: Party Of Animal Cruelty, War & Denial Of Human Rights (tags)
The Republican Party is the party of animal cruelty and violation of human rights.. Please read of their crimes of cruelty and vote out all who stand for election in primaries and general elections of 2018. Many of these people name themselves 'prolife' as they vote for illegal wars, heinous judicial and gubernatorial execution murders, and animal slaughter.
Adam Smith as Philanthropist (tags)
The market can only fulfill its technical function when its rules and mechanisms are politically fixed and governmentally monitored...Adam Smith's theory has nothing to do with neoliberals and market radicals who preach the sleek state, low taxes for businesses and low wages.
The Welfare State in Crisis (tags)
Since 2008, crisis was the defining political theme. "No one should be fooled about the majority will of the population regarding taming wiled finance capitalism. The system could only be bailed out from collapse with taxpayer guarantees." (Habermas 2010).
Capitalism in the Faith Crisis (tags)
Trust in the "invisible hand" is a religious exercise ensuring a rule over people that is destructive and fatal. Christians and Marxists wage a common struggle against the spirit, logic, and praxis of the false money-god and its servants.
Competition Ideology and Power Reality (tags)
Competition cannot be an end-in-itself. Uncontrolled private power leads to misuse. Uncontrolled competition increasingly destroys itself through concentration and centralization processes. Bastard Keynesianism helps the banks. People diverted from real cause of crises
Benjamin Tucker: Individualist Libertarian Market Socialist (Updated 2017) (tags)
American Individualist Libertarianism is a form of market socialism with self-employed individuals, co-operative businesses, and socialist employers. 1. (If your interested, please see: Benjamin Tucker’s State Socialism and Anarchism: Where they Agree and where they Differ) It differs from Mutualist market socialism because mutualist market socialism also has an agro-industrial federation and a regulated market (regulated market by the community or federation) to ensure equality of opportunity. 2. (If your interested, please see: Proudhon’s Principle of Federation)
Ethics and the Profit System: Global Change of Values Necessary (tags)
Profit-making is not profit-maximizing. From the magic word profit-mongering is derived the absurd unequal distribution of wealth, cheating of consumers, the exploitation of workers and ultimately the abolition of democracy. An invisible hand makes business profit into common good
Neoliberal Crisis Policy has Failed (tags)
The term "invisible hand of the market" goes back to Adam Smith. This assumes all economic activity promotes the common good. Neoliberalism's survival is surprising because its theoretical assumptions are dubious. People cling to neoliberal prescriptions against reality.
The Crises of Today's Economy (tags)
The market is not a subject but an instrument. Nevertheless "the primacy of the market" replaced "the primacy of politics." Neoliberalism actually serves the interests of finance capital. A doctor whose therapy causes sicknesses cannot understand this. Our elites are in great distress.
How To Contact The 544 Unelected Superdelegates Pledged To Clinton (tags)
7 more weeks remain to prevent a woman more hawkish than Obama from becoming the Democratic nominee
How Much State Does the Social Market Economy Need? (tags)
The use of property is only legitimate within the limits of the public interest. Whoever takes a risk must bear it and be liable for the losses. The state has the political task of laying down effective rules for risk assessment, liability and providing transparency. Distributive battles intensify.
Capitalism as a Religion (tags)
"Capital is the only god that the whole world knows, sees, touches, smells, tastes and excites all our senses. It is the only god that doesn't encounter any atheists" (Paul Lafargue's little known genial satire "Religion of Capital" from 1887.
Criticism of Market Theory and Market Ideology (tags)
Market fundamentalists cling to the myths of the self-healing market and corporate beneficence..The real market economy functions very differently than the fantastic notions of the theoretical market economy. Maximum individual profit does not agree with social welfare.
Capitalism is the Problem (tags)
Prosperity in large part is based on the ecological and social exploitation of poor countries in Africa and Asia. Today 20% of humanity consume 80% of global resources. The poor are played off against each other while the richest hide billions in tax havens.
“Every city in our country has some serious similarities to New Orleans. Every city has some abandoned neighborhoods. Every city in our country has abandoned some public education, public housing, public healthcare, and criminal justice." (Bill Quigley quoted by Naomi Klein)
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.
America's Interventionist Legacy (tags)
anti-war
Economics is Onesided and Reactionary (tags)
The homo oeconomicus cannot be our hope and is not desirable or future-friendly. The economic benefits to the capitalist entrepreneur are in contradiction to nature and to the person..We face completely oversized financial markets that have uncoupled from the real economy creating value.
Capitalism and Its Crisis Proclivity (tags)
The liberal economists of the 19th century claimed no crises could occur in capitalism since every supply creates its demand. On the other hand, Marx and Engels recognized early on the causes for crises in capitalism. The contradictions of the accumulation process lead to crises.
elections
New Economy and New Prosperity (tags)
Economic structures that form the basis for social prosperity have become dysfunctional. The financial markets have expanded their original function and are now self-financed markets in which protection from risks has become a highly speculative business.
Both Germany and the US follow an economic policy without enlightenment. Slight economic stimulation will not solve problems of mass unemployment and corporate welfare. Tax evasion of corporations and tax cuts for the super-rich lead to suffering and a revenue crisis.
The Abiding Economics of John Kenneth Galbraith (tags)
From The Great Crash, we have of course the conviction that financial panics affect real activity. No one in the 19th century or with experience of agriculture ever seriously doubted that the economy runs on credit or that real activity depends on banks. Only in the higher reaches of academic life could such a thing be denied.
Democracy and socialism (tags)
Democracy is the most popular word in the vocabulary of politics but also the most brazenly abused.
Video: Why Capitalism is Killing the Planet, 27 min (tags)
Market anarchy as promoted by Adam Smith is different than prioritzing human needs. We must put the brakes on industrial growth. Equivalent jobs must be provided for closed industries.
Charles Dickens as Economist (tags)
Ultimately the whole industrial revolution appears like a fairytale that becomes true. At the end of the 19th century, the GDP in England was six times as high as 1834. Human possibilities of life and consumption improved to a tremendous extent. Dickens described this exciting process.
79 Religious and Development Institutions Join SCOTUS Filing in Argentina/NML Capital Case (tags)
Jubilee USA Network, a religious anti-poverty coalition, along with 78 other religious and development groups filed with the US Supreme Court in the case between Argentina and NML Capital
Rigging Foreign Exchange Markets (tags)
markets
Book Review: "The Victory of Capital" (tags)
A society can only provide for the future by investing today in the production of tomorrow...What may be sensible economically for a private individual or individual business could be harmful for the national economy, particularly when the economy staggers.
Consumption: Endless Growth is Senseless (tags)
Writing in 1930, John Maynard Keynes thought people would soon have everything they need and envisioned a 15-hour work week. In the midst of the worst economic crisis, he foresaw a world where people had to work much less because their needs were satisfied.
The World War against the Poor (tags)
More and more money capital concentrates in the hands of the rich which they let `work for itself.' Every day $1.5 trillion circulates around the globe and changes hands. Only two to three percent of that is needed to handle the business with goods and services. The rest is speculative excess.
Criticism of Market Theory and Market Ideology (tags)
Market fundamentalists cling to the myths of the self-healing market and corporate beneficence..The real market economy functions very differently than the fantastic notions of the theoretical market economy. Maximum individual profit does not agree with social welfare.
Capitalism is not the Opposite of the State (tags)
Without the permanent intervention of the state, there would be no functioning capitalism. No economic branch depends on the state like the financial branch The deregulation was based on the trick of slandering state regulation as strait-jackets.that could strangle the economy.
Labor Solidarity in Neoliberal Structural Change (tags)
The self-regulating market and the invisible hand were neoliberal theories of Frederick August von Hayek and Milton Friedman. Submission to the market was described as a natural law, as natural and self-evident as the rotation of the planets. Solidarity and unions were decried as barriers.
How Does Justice Come to the Economy? (tags)
The ideology of the invisible hand of the market transforms all barbarism that is committed into human service.. The modern age is a doubled humanism..State terrorism presents itself as humanist realism, as the only true way of protecting life.
Regime Change Begins at Home (tags)
fascism
Activist San Diego Shows “Genetic Roulette” Film (tags)
Activist San Diego screened “Genetic Roulette” Saturday, September 22 at the Joyce Beers Community Center. The film is directed by Jeffrey M. Smith and is based on his book of the same title, an exposé of the health risks of genetically modified organisms (GMO's) in the food supply. The showing was co-sponsored with the Yes on 37 campaign, which supports Proposition 37 on the November ballot, that would require genetically modified foods sold in California to be labeled as such.
US Cities Going Bankrupt (tags)
class war
Economist criticizes "pathological allegience" to economic models (tags)
The crisis was born when Maggie Thatcher and then Bill Clinton deregulated the financial markets. The explosive force that was detonated was incalculable. Economics gave support because it provides models.
Democracy, risk and liability are turned upside down when trillions bailout the banks and workers, pensioners and unemployed must pay the bill. We live from those who say No to corruption, to the state reduced to a trough or errand boy for the banks (Bill Moyers).
Economics' sharpest critics regard it as an auxiliary science of astrology, a sect that sings its same little song. Classical authors like John Kenneth Galbraith are finally rediscovered. Exactness is impossible. The coming generation should be protected from mono-cultural ideology
The Invisible Hand Doesn't Help Any More (tags)
Neoclassicism starts from the assumpti8ons that people always act rationally and market processes always lead to optimal results on account of the price mechanism. The market fails. Its view of the person as Homo oeconomicus must be replaced by the Homo cooperativus.
Neoliberalism as Greatest Error in the History of Economic Thought (tags)
Efficiency and prosperity can only be realized on capitalist markets when the economic system is bound in a social order under the primacy of politics. Democratic legitimated politics and the provision of public goods is derived from the "anatomy of market failure."
America's New World Order Agenda (tags)
imperialism
Stand for Socialism against Modern Revisionism (tags)
Revisionism is the systematic revision of and deviation from Marxism, the basic revolutionary principles of the proletariat laid down by Marx and Engels and further developed by the series of thinkers and leaders in socialist revolution and construction. The revisionists call themselves Marxists, even claim to make an updated and creative application of Marxism but they do so essentially to sugarcoat the bourgeois antiproletarian and anti-Marxist ideas that they propagate.
Stagnation as a Trend-Life with Satiated Markets, Stagnating Economies and Reduced Work (tags)
45 years ago JKGalbraith was shocked at the public squalor alongside private affluence. In 2008-10 trillions were given to banks and Wall St. so private losses became public losses. By relieving corporations of taxes, neoliberal supply side strategy worsens growth and employment.
On the Failure of the Mainstream Economy (tags)
The neoliberal mainstream economy and its political backers experienced their Waterloo with the most serious financial and economic crisis in eight decades. States bailed out banks and banks made money by lending back to states. A policy of reduced working hours is necessary.
Public Banking: An Idea Whose Time Has Come (tags)
public banking
Public Workers’ Struggle Is Our Struggle (tags)
Though it ended in a setback when the Republican majority in the Wisconsin state legislature used legally dubious tactics to ram the bill through anyway, Wisconsin Governor Scott Walker’s plan to strip his state’s public workers of the right to form unions and bargain collectively has engendered nationwide resistance from America’s increasingly embattled working class. Tens of thousands of people from Wisconsin and elsewhere flooded Madison, the state capital, and occupied the capitol building to protest Walker’s policies, and the Democrats in the Wisconsin State Senate left the state for three weeks to deny Walker and the Republicans the votes they needed to eviscerate the state’s union movement. America’s working and middle classes need to stand strong and fight back in the face of these efforts by the corporate and radical Right to deny the non-rich any voice whatsoever in America’s politics.
America's Dirty Secret: AfPak War Not Winnable (tags)
an unwinnable war
Jerry Brown's first time as governor (tags)
Jerry Brown's first time as governor and the taxpayer revolt
The Neoliberal Experiment and Europe's anti-Austerity Strikes (tags)
"The neoliberals are fully in control of the bureaucracy, and they are reviving Margaret Thatcher's slogan, TINA: There Is No Alternative. But there is, of course. In the small Baltic economies, pro-labor parties have made it clear that the alternative to government shrinkage is to simply repeal the debts, withdraw from the Euro and break the banks. It is either the banks or labor - and Europe has just realized that this is truly a fight to the economic death. And the first test will come this Saturday, when Latvia holds its national parliamentary elections."
Life after the Peak: Capitalism and the Market Economy (tags)
All over the world there are experiments with renewable energy, solidarity economies and non-profit economic forms. A growth acceleration law will be absurd when fossil energy runs out. We will need a growth de-acceleration law.
Sarah Palin Versus A Dumb Blonde Standard (tags)
Too bad Sarah Palin is not blonde. Fore if she were bleached, whenever she said anything remotely stupid or vapid, or her words could be twisted as such, she would be called on it. But more importantly some “male” dumbos of the Tea Party coalition, that is those who have sprung to pay her fees to speak at their conventions, too could eventually get it. They too, some of them that is, would finally see beyond her “charm,” and look for someone more than a playboy bunny to inspire their political consciousness.
Joseph Stiglitz: Harsh lessons we may need to learn again (tags)
"The best that can be said for 2009 is that it could have been worse, that we pulled back from the precipice on which we seemed to be perched in late 2008, and that 2010 will almost surely be better for most countries around the world. ,,"
Will Our 'Green Jobs' Dollars Help a Ritzy Car Company Open a Toxic Manufacturing Plant? (tags)
Tesla Motors Inc. is planning to build a "green" electric auto at a toxic dump site at Downey, CA. It has received $465 million from the DOE to build this non-union auto assembly plant where injured IATSE 44 movie workers and SEIU UHW Kaiser workers have been sickened.
El capitalismo, ¿Riesgo o Usura? (tags)
¿Son las ganancias una recompensa al riesgo del inversor, o simplemente el resultado de la usura y de las condiciones que se ve obligado a aceptar el trabajador?
The Rules of the Game, Not the Players (tags)
In the last three decades, the financial markets have grown much faster than production.. The respective players (whether public or private) are not the problem but the rules of the game.. The goals and means of production must be redefined
Hatemongering in America—the Post-Carter Dilemma Versus Conservative Opposition (tags)
The venom and vile the spews forth from America’s body politic is endemic of a people infected with fear and prejudice; but this learned hatred of a democratic agenda is not one based primarily on racism—yet hostility and resentment is very much its spirit. Rather this anima of animosity is one that seeks scapegoats for any instability felt or imagined of America’s middle and lower class realities, and all presumptions of a relatively naïve and misinformed society.
Benjamin Tucker: Individualist Libertarian Market Socialist (tags)
American Individualist Libertarianism is a form of market socialism with self-employed individuals, co-operative businesses, and socialist employers. 1. (If your interested, please see: Benjamin Tucker’s State Socialism and Anarchism: Where they Agree and where they Differ)
If You Eat, You Need to See “Food, Inc.” (tags)
If you eat, you need to see “Food, Inc.,” Robert Kenner's incisive documentary about the corporate food industry and its wanton disregard for workers’, farmers’ and consumers’ rights, the environment, freedom of speech and press and even the health of its customers. Kenner’s film shows how the industrial model of food production was pioneered by McDonald’s and other pioneering fast-food companies, and the awesome power of the corporate foodocracy in suppressing any debate about the health of its products and any regulation to stop corporate food from killing people.
Manipulation - How Markets Really Work (tags)
Insiders move markets up or down for profit.
Ending Today's Economic Crisis Simply and Easily, in America and Globally (tags)
The solution is simpler than imagined.
Reviewing Ellen Brown's "Web of Debt": Part VI (tags)
Part VI of Federal Reserve Plunder
Water is a Human Right, not a Commodity (tags)
In Bolivia there was a bloody struggle over water. Indigenous persons led the water war in Cochabamba. Water is a human right and must be withdrawn from the logic of profit maximization.
Obama's New World Order (tags)
Obama's imperial agenda
The Neoliberal Revolution Devours Its Children (tags)
"Where is the child who uncovers the nakedness of the money economy?..The financial geniuses pretend to be the new gods of globalization. The builders of the Tower of Babel were modest compared to the new financial rulers of the world.
GERMANY: Notes on Neoliberalism (tags)
"The neoliberal revolution was the product of an historical development, a reaction to changed circumstances. In its course, many western states in the 1970s and 1980s reordered the relation of state and private power.."
Faith in the Invisible Hand of the Market is Over (tags)
The people will not be so easily convinced of liberalization, deregulation and privatization. On the contrary, people will have a clearer consciousness of the primacy of politics. The false incentive systems in the businesses must be removed.
Prensa paraguaya niega derecho a Réplica al escritor Luis Agüero Wagner (tags)
La prensa mediática que apoyó -aceitada por los dólares de las ONGs derechistas y fundaciones anexas a la embajada norteamericana- la candidatura del obispo Fernando Lugo, tras lanzar dardos contra el escritor Luis Agüero Wagner le niega derecho a réplica.
Early Suspicions About Bernard Madoff (tags)
All Wall Street like Madoff
Worse Than the Great Depression? (tags)
a distinct possibility
Subverting Democracy Through Electoral Fraud (tags)
Rigged election show democracy is pure fantasy.
Growth and Social Justice: Joseph Stiglitz (tags)
The trickle-down economy does not function. The left understands the market and rhe role the market can and should play in the economy. The right doesn't understand either. The Bush administration is nothing but the old corporatism in a new garment.
Book Review: The Subject and the Law (tags)
The church since the second century began distorting the original message without changing the words. If Jesus' proclamation was unconditionally "You shall not kill," it was soon said: "If you do this, we will kill you."
System criticism is often repressed. Private vice does not bring public virtue. Everyone pursuing self-interest does not usher in public welfare. Inequality, growth, competition and market fundamentalism are not panaceas or inevitabilities but false securities.
Economic troubles are broad, deep and worrisome.
"Not torturing is changed into an act of barbarism.. Torture, the atom bomb and the globalization strategy all save life. State terrorism presents itself as humanist realism, the only way of securing life. As a Chilean general said, national security is like love; there is never enough."
Holiday Season Hypocrisy (tags)
Consumerism corrupts the holiday season.
Morgan Stanley Issues Full US Recession Alert (tags)
Morgan Stanley has issued a full recession alert for the US economy, warning of a sharp slowdown in business investments and a perfect storm for consumers as the housing slump spreads. Under the conservative definition, man is the servant of money. Long live alternative economics!
Reviewing James Petras' "Rulers and Ruled in the US Empire" (tags)
An in-depth review of James Petras' important new book.
Market Efficiency Hokum (tags)
Debunking the myth that free markets work best.
'Old Europe' Bails Out Idiot-run Free-Market US Government - Again (tags)
Right now, the entire world's banking system is being pressed to the limit of what it can do to prevent a worldwide crash of the capitalist system due to what one European banker called "a complete evaporation of liquidity" [Source: "ECB reportedly weighs dollar swap with Fed", MarketWatch.com, 13 August, 2007]. In layman's terms, that means that the world's banking system is running out of the funds needed to keep the capitalist credit system running.
Reviewing Michael Parenti's "Democracy For the Few" - by Stephen Lendman (tags)
America's democracy serves only the privileged.
Competition and the Legal System (tags)
Competition is not always a fountain of economic development..Certain academic findings are dangerous for the functioning of norm systems. The critic becomes the delinquent. Several wicked mosquitos may be criticized, not mosquitos in general.
Independence Day Hypocrisy (tags)
Deconstructing the day of independence
Anti-war activists blocking military shipments to Iraq (tags)
It is time to move beyond marches and rallies if we are to stop the war
Capitalism and Corruption (tags)
Until recently, the bribes paid by German firms abroad were deducted from the corpor-ation tax as operating expenses..The neoliberal dogma doesnt need any religion since it makes capitalism into a religion.. The cult of abstract riches cannot replace morality Mergers and takeovers are central.
The corruption of US holidays for patriotism and profit.
The Nature of The Jevons Paradox (tags)
The Jevons Paradox is a multiple intersection of several issue threads including economics, peak oil, global warming, social movements, and the philosophy of science
Theologians of the Market Economy (tags)
Mandeville's thesis that private vices often change inadvertently into collective virtues as a bee collaborates in building a beehive is a literary construction. The market in Smith's explanation is nothing but a religious paradox.
Economist Milton Friedman dies at 94 (tags)
Milton Friedman, the Nobel Prize-winning economist who advocated an unfettered free market and had the ear of three U.S. presidents, died Thursday at age 94.
DIRTY SECRETS OF THE TEMPLE (tags)
HOW THE US FEDERAL RESERVE HAS ABUSED THE PUBLIC SINCE INCEPTION
DIRTY SECRETS OF THE TEMPLE (tags)
AN ACCOUNT OF HOW THE US FEDERAL RESERVE HAS ABUSED THE PUBLIC SINCE INCEPTION
COMMENTS ON NOAM CHOMSKY'S NEW BOOK - FAILED STATES (tags)
CHOMSKY SHOWS HOW THE US HAS THE CHARACTERISTICS OF A FAILED STATE
A Guaranteed Minimum Income as a Constitutional Right (tags)
A guaranteed minimum income could be seen as a constitutional right like the franchise and equal protection before the law This 1986 essay shows us the human alternative to the dystopia of permanent war. I apologize for the errors in translation.
Paul Samuelson Attacks a Dogma (tags)
The best-known economist of the world doubts that shifting services to india and buying cheap goods from China bring advantages to Americans when the income of workers falls through foreign competition. The rich North will lose its monopoly profits under the conditions of globalization.
Is Work a Basic Social Right? (tags)
"Hard work including persuasive work is necessary so the ruled free themselves from the worries of the rulers and then become the rulers themsevles."
CUCKOO ECONOMICS (Abridged Ed.) (tags)
By deliberately confusing assets that can be *produced* with assets that can only be *acquired*, modern economics laid the ideological foundation for unemployment, poverty, inequality, and the looming global depression.
"Unfortunately some market fundamentalists are at work in the EU who denounce every-thing the state does to protect public goods as distortion of competition.. The globalized market shatters balance of public & private.."
Dictatorship as Economic Advantage: China's Rise (tags)
"Paul Samuelson questions the theory that existed for 200 years: the theory of free world trade..Wolfgang Hirn shows how China's rise to omnipotent production nation leads to de-industrialization..The 150 year old western dominance is obviously coming to its end.."
Maybe we need them to take care of us. Maybe we need them to, as *they* say, take the risks. But then again, maybe we don't.
Pope Was Right But Did Wrong (tags)
“Wealth should not be accumulated for its own sake. It should not be gained by injustice or oppression. Wealth often leads to covetousness. It belongs to God, not to us; we are simply stewards. We sin if we do not use it to help the poor, the weak, and the oppressed (Ezek. 22:29)
Attention must now shift from security of the state to security of the people-human security The UNDP sees expansion of the security concept as a step to more peace and more prosperity and sets human security in the context of human development and hu rights.
Video:Testimony by the programmer claiming to have been asked to hack the US election vote (tags)
For the first time -- the FULL Video of Clint Curtis' Sworn Testimony!
Noam Chomsky and Marxism (tags)
Noam Chomsky and Marxism
The Demon and its Conjuring Trick: Money (tags)
"The light in which the glboal financial markets operate is very dim.. Unveiling the money fetish is a task of economic literacy. The monetary sphere seems uncoupled from the real economy, the world of work.."
Social Security is Not for Sale (tags)
The market is a tool effective after fundamental political questions are answered: What kind of society do we want? Are education, health care, housing, water and land public goods or privileges?
It's always satisfying to have a pet theory supported by new data. A large and authoritative study, just published in the Journal of the American Medical Association, confirms a favorite hypothesis of mine, that there is more mental illness and insanity, far more, in America than you find in other advanced societies.
NEW DATA EXPLAIN MUCH...
An Object Lesson in Investing (Or Being Taken for "a Ride") (tags)
Adam Smith, the father of modern economics much-quoted by conservatives, once said, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices." It's a description that fits today's Wall Street to a tee.
The New Morality(TM) of Capitalism (tags)
During the Great Depression, Pres. Roosevelt used social programs (ex. The Hoover Dam) to employ miilions of Americans because continued despair would've led to the same Fascism that devoured post-WWI Germany. Today's right-wing pundits call such policies "immoral" and FDR a "Communist".
My First Day at UCLA, USSR (tags)
MIT professor Noam Chomsky (a rabidly anti-American leftist) had more books at the UCLA Store than did Aristotle, John Locke, Adam Smith, Frederic Bastiat, Thomas Malthus, John Stuart Mill, F.A. Hayek, Milton Friedman, Thomas Sowell, Ayn Rand, Nathaniel Branden ... if not for the fading scent of liberty, I might as well have been at the University of Havana.
The Republican Recall Hits California (tags)
The "Terminator" Becomes Bush's Weapon of Mass Destruction: Anatomy of a Heist An Overview of California's Gubernatorial Recall Election, Candidates, and Ballot Propositions from a Progressive Viewpoint
Neo-liberalism (by Latuff) (tags)
Copyright-free artwork by Brazilian cartoonist Latuff.
The Appetite of Leviathan (tags)
Money replaces the `cosmos' as the unifying social characteristic. Every pack of wolves is more socially organized than free enterprise persons..The little monsters should be tamed by the enormous monster"Leviathan". The state share has increased everywhere.
Leftist Conservatism Part Two (tags)
In Part One of this two part series I demonstrated through personal experience how the leftist elite is stifling progressive growth and preventing constructive social change in the United States
Harmful House Deal on Fire Logging Needs to be Stopped (tags)
An agreement has been reached between Rep. George Miller (D-CA), Peter DeFazio (D-OR) and Rep. Scott McInnis (R-CO) that can best be described as a chainsaw massacre.
just came across this reading a great essay by buddhist David Loy. Check out his essay "A Buddhist Critique of Transnational Corporations" as well.
Once upon a time the was a land called America, where the people were actually free, they were free to think, free to speak, free from slavery, even economic slavery. But in the shadows of this great land men were plotting against her becasue they had ideas of their own!
Let's Try to Get the Cops on our Side
Soros, the Golem (our proud sponsor) (tags)