The Corona crisis is currently overshadowing three crises that are also currently being - covertly - negotiated: First, an economic crisis since the fall of 2019. Second, the crisis in municipal finances Third, an investment crisis, better known as an investment backlog.
Advice on Corona and Budget 2020 (tags)
Emancipatory politics is characterized by the fact that interests are negotiated. The post-Corona phase will show what can be learned about the relation between politics and capital. Civil society should be engaged and resistant to ruling politics
Economics in the times of the coronavirus (tags)
Most people’s thinking is determined by the development of the Covid-19 crisis, the return of “the hour of executive power” (Gerhard A. Ritter), i.e. state of exception legislation, and the fears which it evokes as well as the economic measures in response to the health crisis.
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.
Trumponomics and Wall Street Rejoices (tags)
Economics should be a part of life, not a steamroller crushing creativity and self-determination. The state should serve the public interest and reduce poverty. Trumponomics is a disaster. The poor, seniors, children and students are under a vicious attack.
Trumponomics: Failure Pre-Programmed (tags)
Macro-economic and ecological connections are simply ignored with the concentration on short-term profit. The planned reduction of corporate taxes from the current 35% to 15 or 20% recalls the Laffer-curve as the basis of Reagan's fiscal policy error.
Low Taxes is an Act of Desperation (tags)
A low business tax can be counter-productive if a deadbeat infrastructure arises through lower state revenues. Lowering business tax rates leads first to enormous budget holes. Employees will bear this burden at the end.
The ABCs of Meaningless Economic Phrases (tags)
The most common myths start from the tax state that burdens the economy, the housework ordered by the state (save,save,save) to the Schwabian housewife prescribing the austerity creed. Politics must tend to every need of capital as a scared doe and therefore lower taxes.
Less Growth and Less Work (tags)
French economist Thomas Piketty described neoliberalism or finance capitalism as an "inequality machine." Profits soar and investments are delayed. Keynes spoke of three phases: investments, surplus and stagnation. Reduced working hours is the only way to full employment.
TTIP: Emperor's New Clothes (tags)
Welfare state achievements, quality and environmental standards as well as consumer interests are up for negotiation..For Austria, an annual jobs gain of 0.06% is forecast...93% of the consultations were with lobbyists.
TTIP Attacks on Wages, the Social and the Environment (tags)
The belief that growth and prosperity for all people are promoted by free trade is as old as capitalism. This is often wonderfully represented in the model worlds of economists. But reality looks different. Specific particular interests are sold as the general interest.
On the Death of John Kenneth Galbraith (tags)
The great economist John Kenneth Galbrath was shocked at the public squalor alongside private affluence. He devised the horse-sparrow theory, horses must be fed so the sparrows can live. A healthy economy means shrinking the financial sector and expanding the public sector.
TTIP: International Mega-corporations prevent social and ecological globalization (tags)
In the reality of international monopolist competition, narrow economic profit interests dominate to the disadvantage of broad prosperity gains. Protection of foreign mega-investors before indirect expropriation leads to a dispossession of nation state democracy.
For Immediate End of Austerity Policy in Europe (tags)
The growth model forced in the past with redistribution from bottom to top and increasing export surpluses has failed. For years, the demands of the Alternative Economic Policy study group emphasized combating unemployment and poverty and, taming the financial markets.
Less Growth = More Happiness (tags)
The question about alternatives to the dominant western model of life and greowth becomes increasingly urgent together with the looming-or already occurred-surpassing of Peak Oil. New measurements of prosperity include life satisfaction, access to health care and education
The exodus from the casino capitalism producing ever faster and ever deeper crises cannot succeed without a broad and powerful democratic base. Parliamentary democracy is urged to finally take up the struggle around the primacy of politics
Reduced working hours is the only logically and historically consistent answer to the annual productivity increases that are above the real growth rates of the economy and without reduced working hours lead to a decline of work volume and unemployment.
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.
The Banks Should Serve the Real Economy (tags)
Democracy, risk and liability are turned upside down when trillions bailout the banks and workers, unemployed and pensioners must pay the bill! We live from those who say No to trivialization of crisis, to the state being reduced to a trough or errand boy for the banks (Bill Moyers). The economy should be a part of life, not a steamroller crushing creativity.
The Financial Crisis and the Failure of the Modern Economy (tags)
The US government debt shot up from 2.9% in 2007 to 5.9% in 2008 and 11.9% in 2009. At the summits of Washington, London and Pittsburg, the goat was made the gardener. Ineffective rules were resolved that hardly helped regulate the financial markets.
The High Risk Business of Banks (tags)
The model of financial market capitalism collapsed with the greatest crisis of the financial markets since the worldwide economic crisis at the end of the 20s. The enormous accumulation of financial assets was based on redistribution of incomes continuing for 30 years.
Profits=Investments=Jobs? (tags)
The claimed connection between profits, investments and jobs is not right. Orders-literally demand-are more important than the profits that are investede for the creation of jobs. Market radicals repress market and system failure.
How Neoliberal Ideology Destabilized the World Balance: Krugman and Galbraith (tags)
"If the depression has not openly erupted, all the features of the 1930s are having a spectacular comeback." (Paul Krugman) To free the US from the claws of private interests, James Galbraith urges the public authority to set social and ecological norms.
Last Dance for Capitalism (tags)
Capitalism reaches its inner limit and strangulates itself and the environment. Increasingly effective measures lead to fewer and fewer workers producing ever-greater quantities. The real economy becomes an appendage of speculation bubbles.
Satiation or Two Limits of Growth: John Maynard Keynes (tags)
"The first great economic crisis of the 21st century marks the end of a failed political-economic experiment..The past 30 years of redistribution from bottom to top were a glistening epoch for the owners of capital.."
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.."