Capitalism as a Secularized Religion (tags)
It is never too early or too late to challenge the dominant narrative. Capitalism is a fetish social formation, a demolishing of being not a reform of being. Capitalism may be the first case of an indebted cult, not an atoning cult, possibly the most bloodthirsty cult of humanity's history.
The Crisis, Trust and Homeowners (tags)
Capitalism cannot function any more without credit-financed debt on account of its increasing productivity. The recession will come because the indebtedness-dynamic can hardly be maintained with which the capitalist zombie-economy is kept alive in its pseudo-life.
The Economy Sinks in a Deep Crisis of Meaning (tags)
Economists are compared with astrologers and mocked as crystal-ball readers because they are frequently way off the mark with their growth forecasts. Economists have not learned the great lessons. Mainstream economy entrenched itself behind a model world and often faded out reality.
Caught in the Infinite Loop of a Nightmare (tags)
Since politics has no strategies of its own to re-stabilize the economic system, it hopes in the self-healing powers of the market after the bank bailout... The hosts of decision-makers were simply "falsely programmed" in their education.
GERMANY: What Lessons Do We Learn from the Financial Crisis? (tags)
Rating agencies were paid by the firms to be rated. Ultimately rational individual conduct led to an irrational collective result. The lesson is clear. On the way of regulation or taxation, banks must be given a massive incentive to remain small.
Neoliberal Definitional Power (tags)
"What is central is ending the constant expropriation of employees, not the expropriation of entrepreneurs." Market fundamentalists stylize every tax as expropriation as though they had no responsibility for paying for roads, schools, health care, police, fire departments and water-food supervision.