From Enlightenment to Counter-Enlightenment (tags)
Brilliant minds elevated "the market" into a "higher being" of the post-modern age to which we must submit. The primacy of the market replaced the primacy of politics. Dr. Schulmeister is an economic researcher in Vienna whose latest book is "The Road to Prosperity" (2019).
Finance Capitalism and the Digital Economy (tags)
The financialization of the economy and the rise of the commercial Internet are directly connected... At the beginning of the digital economy, as Marianna Mazzucato and others showed, was an investing state that took over the installment financing for digitalization.
In the Whirlpool of Deregulation (tags)
The economy changed from real- to finance capitalism since the 1970s. This was not an accidental development. The economic researcher Stephan Schulmeister sees a pattern where deregulation created problems that were fought with more deregulation.
Ten Theses on the Crisis and its Solution (tags)
Problems don't disappear when they are ignored. Deregulation is a collective and political crisis. Language and democracy are endangered when arsonists are called firefighters, when private losses become public losses and crime in the suits is normalized as a business model.
Alternatives to Stagnation and Depression (tags)
Politics has fought the symptoms of the great crisis with banking- and economic packages while its systemic causes remain untouched… The hardest phase of the great crisis is ahead of us, not behind us. All sectors try to safeguard their position through spending cuts...
Economics is not a Science (tags)
"Observations are central in a subject like economics where experiments are not possible.. Mathematics is misused to transport a certain ideology, the neoclassical theory of the market.. Capitalist crisis phenomena have made a fool of the harmony theory of the market.."
Worldwide Economic Crisis 2.0 or the Collapse of Neoliberal Finance Capitalism (tags)
The present crisis is a consequence of the fact that exploding business profits found inadequate investment opportunities in the productive sector and turned instead to financial speculation. Deregulation created "law-free" spaces" with the abrogation of all political controls.
Finance Capitalism Devalues Labor (tags)
Businesses are capital investments in the hands of shareholders. Consequently managers only serve the interests of shareholders.
Putting Finance Capitalism "Back in Its Box" (tags)
Their scheme is permanent debt bondage