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.
The Cup (R)money passes us (tags)
Remember the neoliberalism of Reaganomics was an ideology that is carried out from America in Germany-with all its consequences from deregulation of the banking sector and the labor market and the change from the market economy to market society up to rule of the financial sector.
The Bank Tribunal in Berlin (tags)
Even today most radical market liberals do not see beyond their ideological blinders and explain the financial market crisis as a state breakdown. The financial catastrophe is a fiasco of their religious doctrine. The catastrophe plunged the dominant economy into a crisis of meaning.
Arsonists as the Fire Brigade (tags)
Supported by ideologically-blinded deregulators, the "masters of the universe" dominant in Wall Street and the City of London could bend the rules of the game on the global financial markets. Their shadow banking system existed above politics and regulators.
On the "Wealth Creation" of the Financial Sector (tags)
My counter-thesis is that a huge waste of economic resources occurs in the area of financial services. Competitive games, the worldwide casino and the invention of securities bundling rotten mortgages are not productive achievements of the capital market.