Nobel Laureate, Former Economy Minister and Experts Propose Improving Debt Analysis (tags)
Experts Present a Series of Papers to IMF Executive Directors Ahead of Annual Meetings
Jesus made fun of individualism and profit-oriented economic systems. Winning people to trust the infinite, invisible and transcendent God was surely his central goal. “Are not two sparrows sold for a penny?”“No sparrow falls to the ground without your Father’s consent..."
For a democratic polarization (tags)
The new world economic crisis has shown yet again that one can't leave it to the market to provide for a strong economy. In any case, it is a truism that a community with a certain quality of life depends to a great extent on resources that the market does not produce.
The Cure is the Sickness, 2001 (tags)
"Good policy" in the sense of the Washington Consensus can be paraphrased with these ten principles. The key to development successes lies only in a correct policy mix. Development backlogs, continuing poverty and so forth are referred back everywhere to "bad policy".
Pope Francis and World Leaders Call for Inclusive Economy (tags)
Pope Francis addressed a small group of Finance Ministers, the head of the IMF and noted economists urging the creation of new global debt and tax policies that can reduce inequality and end poverty.
How Misguided Financial Policy Strengthens the Right-Wing (tags)
Capitalism has shown how democratic processes can be easily evaded. The Chicago boys carried out their radical reform program that was known as shock therapy. This included dismantling social state structures, opening the market to foreign investors and shattering unions
Please Disrupt Capitalism! and The Return of Hope (tags)
The old quotation from Gramsci describes our plight: "The old dies and the new cannot come into the world. It is the time of the monster." The Good News is that the time of no alternatives is over. The Bad News is that the wrong alternatives and discussed.
Please Disrupt Capitalism! and The Return of Hope (tags)
The old quotation from Gramsci describes our plight: "The old dies and the new cannot come into the world. It is the time of the monster." The Good News is that the time of no alternatives is over. The Bad News is that the wrong alternatives are discussed.
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.
Video: Chris Herdges in Eugene, 1 hr 24 min (tags)
"Weapons that don't work - against enemies that don't exist - with money we don't have" (Joseph Stiglitz)
Right-wing Populism: A Wave of Nostalgia (tags)
For decades, western societies were marked by pluralization, individualization, and liberalization. Why are attitudes and pressures of society against these trends becoming dominant? Right-wing populism is anti-liberal.
Government Shutdown Solutions Could Leave Out Disaster Aid for Puerto Rico (tags)
As the Senate and White House struggle to avert a government shutdown, US disaster victims from Puerto Rico to Texas worry a deal on relief and recovery aid will continue to be delayed.
Growing Inequality Harms the Political Economy (tags)
Neoliberalism and finance market capitalism encourage creating money out of thin air, exploding inequality, precarious work and environmental destruction. Wages are not only a cost factor but an important demand factor leading to either investments or social blight.
The Social State Benefits All of Us (tags)
The social state can on ly fulfill expectations when financed on a broad and just basis. The social state must be adjusted to do justice to the pressing challenges.."The social state is the greatest cultural achievement in the 20th century"
Politics in the Age of Acceleration and Sharing (tags)
Why do international crises always come over us so suddenly, seemingly without any signal? This happens because we consistently ignore all the signs. We want to know everything in real time-and miss the big connections. Whoever sows weapons reaps refugees.
Neoliberal Indoctrination (tags)
Neoliberalism tells the poor and weak that they are responsible for their misery. The true extent of social poverty barely reaches the public. A re-feudalization bomb rages and investors seek privatizing the public education system. People are atomized. Fragmentation is intentional.
Economic Inequality Divides Economics and Society (tags)
An unequal distribution of income paralyzes the whole economy... Redistribution from top to bottom in a national economy ultimately depends on which social groups can enforce their interests more strongly.
Unconditional Basic Income Raises the Right Questions (tags)
In the basic income society, work is what one wants, not what one must. Work is the contribution I make, not the obligation I meet to survive..."Alone I can become free but I cannot become free alone. The drama of becoming free is a social drama" (Swiss philosopher Stefan Brotbeck)
The Lie of the Weak State (tags)
The good condition of German labor markets is in reality in a catastrophic state...Unemployment is an "act of violence" against every unemployed person and represents an enormous waste for society as a whole.
Everyone could work less instead of terminating people. Ways could be organized through shared activity for using the gained freedom in services of everyday life...Breaking with the disastrous logic of competition and money is int he interest of the life, peace and happiness of people today.
Video: Humans Need Not Apply, 15 min (tags)
The future that is decentralized and regional seems marginalized in late stage capitalism of exploding inequality, selective perception, myths and fairy tales. Mechanization and digitalization are realities. Once 90% of the population worked on farms; now only 2% work on farms.
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.
George Orwell in the Government (tags)
Writing in 1948 off the coast of Scotland, George Orwell foresaw the time when war would become a domestic necessity to divert the people from economic contradictions. Newspeak is used so lies are called truth and slavery freedom.
Thomas Piketty and the Growing Inequality in Capitalism (tags)
"When capital profit is permanently higher than the growth rate for production and income which was the case up to the 19th century, capitalism automatically produces unacceptable and arbitrary inequalities that radically put in question the achievement principle..."
America's Deplorable Afghanistan Legacy (tags)
Afghanistan
The wealth of others has become more a problem and less an incentive. Capital is blind, Thomas Piketty says. Capital grows faster than the economy. Differences in wealth are inherent in capitalism but do not represent a natural law. A society can accept them or act against them.
The Myth of America's Golden Age by Joseph Stiglitz (tags)
Joseph Stiglitz, former chief economist at the World Bank and winner of the 2001 Nobel Prize for economics, teaches at Columbia University in NYC.
Video: Fair Taxes for All, Joseph Stiglitz (tags)
Barriers are political , not economic. Humans can revise the tax code. Our tax system encourages the 1%. If you're not creating jobs here, you'll have a high tax. Median income is lower than a quarter of a century ago. All the growth has gone to the top. We no longer have a country with opportunity.
Supreme Court Hears Argentina Predatory Hedge Fund Discovery Case (tags)
High Court Decision to Hear Broader Landmark Debt Case Pending
Liberating the Economy from Prejudices (tags)
Economics is not an immutable unchangeable fate but a human system where changing rules changes outcomes. James Galbraith and Joseph Stiglitz are two well-known economists who question the myths of conventional economics, the self-healing, efficient and deregulated market
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
Does the Richness of the Few Benefit Us All? (tags)
Zygmunt Bauman, born in 1925, is a Polish sociologist. Since 1971, he has resided in England after being driven out of Poland by an anti-semitic campaign, engineered by the Communist government he had supported.
VIDEO: "The Four Horsemen" (tags)
Finance capitalism is an outgrowth of self-healing markets and too-big-to-fail banks, perverse business models and perverse incentives where speculation and creating money out of thin air are normalized.
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
Permanent War: Longstanding US Policy (tags)
anti-war
America's Genocidal Iraq War (tags)
Iraq
George Orwell in the Government: The Rich Come from the Poor (tags)
In Germany as in the US, the rightwing insists poverty is not a question of money but of attitude and thus of one's own making. Falling wages are said to be a sign of structural improvements on the labor market!
Financing the Government: Romney Must Get the Message (tags)
The role of the state and the necessity of common action is a main theme in the political debate. Regulation ensures the same rules for everyone in competition. Conservative politicians in the US underrate the importance of publically provided education, technology and infrastructure.
"A seeming consensus among economists can virtually force the shaping of political opinions.. For 30 years, neoliberalism marginalized all other schools, above all Keynesianism - and all of us hit a brick wall.."
In the Towrope of the Financial Markets (tags)
"High growth has a well-known hook. Surpluses are only possible when natural resources from clear water to rare earth are available, when the energy supply is guaranteed and when the pollutant sinks are sufficient.. The debtors are now those states that had to become indebted.."
Preventing Peace to Wage War (tags)
anti-war
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.
"The illegitimate debts must be cancelled" (tags)
A neoliberal tax policy followed for twenty years drastically lowered the taxes paid by private corporations on their profits, above all by big business. The debts are not an incomprehensible plague but the result of a conscious and completely unjust policy.
Beyond the Homo Economicus (tags)
The Homo economicus is a kind of calculating machine on two legs that incessantly calculates personal benefits and profit. His conduct follows the model of rational expectations. Incursions of the state will make possible more social equality.
America’s majority who supported the Occupy Wall Street movement (OWS), within the 99% of all Americans, are being smeared by agent propagandists within the punditry of mainstream media (MSM). For example, Michael Gerson’s black demagoguery, of the closet-right-wing Washington Post, is a good example. In one of his recent columns he declared the OWS movement seems little more than a “…confused set of grievances…” and paints the movement to have little ideological coherence save Marxist socialism and anarchy. Equally he attempts to blame the Democratic Party (that he claims is their “desperate” political calculation) for this phenomenon of the Occupy Wall Street (OWS) movement.
America’s majority who supported the Occupy Wall Street movement (OWS), within the 99% of all Americans, are being smeared by agent propagandists within the punditry of mainstream media (MSM). For example, Michael Gerson’s black demagoguery, of the closet-right-wing Washington Post, is a good example. In one of his recent columns he declared the OWS movement seems little more than a “…confused set of grievances…” and paints the movement to have little ideological coherence save Marxist socialism and anarchy. Equally he attempts to blame the Democratic Party (that he claims is their “desperate” political calculation) for this phenomenon of the Occupy Wall Street (OWS) movement.
Six Proposals for Helping the 99% (tags)
Solidarity, social justice and sharing open doors while tax cuts for the super-rich only lead to exploding inequality. double standards and cynicism. Access could replace excess. The empire could be superseded by the republic.
Social Justice Occupations Head Everywhere (tags)
social justice
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.
The Price of 9/11 by Tom Hayden and Joseph Stiglitz (tags)
Tom Hayden is an activist, former state senator in California and prolific author defending the rights of nature and the right to dissent. Joseph Stiglitz is the 2001 Nobel Prize winner for economics and professor at Columbia University.
Manifesto of Appalled Economists: The Shocked and the Outraged (tags)
Tax cuts for the super-rich and corporations promised economic growth and more jobs but produced exploding inequality and generalized insecurity. The US faces a revenue crisis and a war spending crisis. Tax cuts, wars and bailouts of banks and firms caused massive US deficit.
Israeli Social Justice Protests Continue (tags)
class war
The US, the Debt Superpower (tags)
The state bailout of these gigantic real estate institutes, banks and insurances and the enormous economic package to get the crisis-weakened economy on its feet again is one of the essential causes of the present debt crisis. In two decades, $5.5 trillion was spent on a dozen wars.
A Decade of US War Costs (tags)
anti-war
The Crisis of Financial Market Capitalism as a Challenge for the Left (tags)
The crisis of neoliberal financial market capitalism broke out in its center and has one central systemic cause. This crisis was triggered by the independence of the financial sphere... A solidarity mixed economy, democracy and peace are alternatives.
Noam Chomsky in Eugene, April 20, 2011 (tags)
The religious faith that markets will sort everything out and are efficient (cf. Joseph Stiglitz) is overthrown.Like propaganda and public relations, business does not seek enlightened consumers making rational choices but unenlightened consumers making irrational choices.
The U.S. is More Greek than Greece (tags)
Deficit economies were organized mainly by finance capital. The expansion of this credit-financed mass demand went along with the expansion of the financial sector. Trillions of dollars and Euros were pumped in the stabilization of financial markets.
Bretton Woods 2.0: Soros New World Order Conference (tags)
new world order
Dollar-Yuan Currency War (tags)
The value of the Yuan is not the cause for the US trade and balance of payments deficits. The reasons are the high state indebtedness (armaments/ wars and tax gifts to the rich) and the indebtedness of private households. The US has a trade deficit with 90 countries.
The history of the crisis of the western world that we all experience more or less consciously or unconsciously (or partly ignore) is a history of boundless lobbylism, political corruption, market fetishism and unbroken faith in growth..Economic theories were and are children of their time.
Successful socialism conference held in the Philippines (tags)
A successful ‘socialism conference’ was held in Manila from November 27 to 28. The conference was organized by the socialist Partido Lakas ng Masa or Party of the Laboring Masses (PLM) and the socialist-feminist regional network Transform Asia. The conference was attended by 100 delegates, leaders of the PLM from Metro Manila, and other leading socialists of the Philippine left, as well as 13 international guests.
Video: FDR's New Deal: Social Security Act and National Labor Relations Act (tags)
In honor of the 75th anniversary of the enactment of the Social Security Act and the National Labor Relations Act, the FDR presidential library hosts a public forum to explore in depth the year that Roosevelt transformed the mission of the New Deal.
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 IMF Dictates More Than Ever (tags)
"Many developing countries that were independent in food production at the start of the 1980s import food necessary for their populations today. The subsidized agriculture of western countries has flooded the cou9ntries of the South. Haiti imports the rice that it once cultivated.."
Quantitative Easing: Elixir or Poison? (tags)
QE indeed poison as being used
"Pakistan warned Washington against future attacks. However, US military officials, under pressure from Obama to show progress in the endless Afghan war, responded to Pakistan’s warning by calling for expanding the Afghan war into Pakistan. On October 5 the Canadian journalist Eric Margolis wrote that “the US edges closer to invading Pakistan.” In his book, Obama’s Wars, Bob Woodward reports that America’s puppet president of Pakistan, Asif Ali Zardari, believes that terrorist bombing attacks inside Pakistan for which the Taliban are blamed are in fact CIA operations designed to destabilize Pakistan and allow Washington to seize Pakistan’s nuclear weapons."
War criminal Karl Rove will speak in Phoenix on Nov 9 (tags)
War criminal Karl Rove will speak in Phoenix on Tuesday, Nov 9 at the Sheraton Hotel in Phoenix. The event is sponsered by APS, SRP, Arizona Republic and a number of other businesses.
Manifesto of French Economists: Why We Are Shocked (tags)
On October 11 three million French workers were on strike against President Sarkozy's authoritarian attacks on social security and pensions. "Despite its obvious debacle, the neoliberal dogma is still regarded as the only correct economic system."
The Road to World War III - The Global Banking Cartel Has One Card Left to Play (tags)
"The global elite have consistently used a strategy of arming and funding both sides of armed conflicts. While opposing populations kill each other off, they make off with their natural resources. When they confront a government that cannot be bribed or provoked into civil or regional war, they fund brutal death squads, attempt military coups and intimidate them by giving weapons to undemocratic neighboring regimes. If all that doesn’t work, they are declared a threat to national security and the US military, private contractors and NATO forces invade and occupy the country. These terrorist strategies are not limited to the Middle East and Africa, just ask our neighbors throughout Latin America about the School of the Americas. Contrary to popular belief, the horrendous torture techniques inflicted upon people in Abu Ghraib, Iraq were not an isolated incident. Many of those brutal torture techniques were developed over years by torturing innocent civilians throughout Latin America."
The True Cost of the War (tags)
To avert Republican gains in November, Obama must create jobs that pay into social security, reduce crippling state debts and end the lie that Afghanistan is a necessary and just war. Peace and resistance are part of our nature as antibodies are part of our bodies.
"Severe Austerity Programs will have Catastrophic Consequences" (tags)
"Instead of real growth, the financial sector has only promoted phantom growth. The state functions differently than a family. Less should be spent for unproductive purposes like the wars in Afghanistan and Iraq and unconditional bank bailout packages.."
Alternatives to Capitalism (tags)
Neoliberalism, financial market-driven capitalism, intensifies the crises. However the root of evil lies in the developmental laws of capitalism. Neoliberalism is based on double standards and double speak where CEOs are job creators and workers are cost factors.
Applying the Emergency Brake (tags)
"The US bank model forces others in indebtedness, inflates the money supply, devalues assets and generates virtual dollars..Wall Street banks are involved in a `systemic risk' that endangers the capitalist reproduction process.."
Funding Israeli Militarism, Belligerence and Occupation (tags)
funding Israel's war on Palestinian civilians
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.
VIDEO: Tobin Tax on Bankers (tags)
The powerful new coalition of domestic and overseas charities, unions and church groups argue that a Robin Hood tax could generate $700bn (£450bn) worldwide. The tax would see 0.05% levied on each bank trade.
VIDEO: Joseph Stiglitz' "Freefall" on BookTV (tags)
"Incentives matter. Short-sighted behavior on an annual basis involved excessive risk taking. `Too big to fail' is ersatz capitalism socializing losses.
VIDEO: How to Get Our Democracy Back (tags)
"At the center of our government lies a bankrupt institution: Congress."
"We are in the Greatrest Financial Bubble of all Time" (tags)
"An old world perishes as a new world arises-pictorially comparable to a caterpillar that dies because the butterfly comes to life. What is called financial crisis is only a superficial symptom.. One of the main causes of the debacle is the Americanized corporate governance." (F.Malik)
"Concepts must be developed against the global demand-deficit. Repairing the financial system is not enough. The economic-political prescriptions of the past - flexible wages and restricted social benefits - would worsen the situation."
Prerequisites for Overcoming the Financial Crisis (tags)
"In analyzing financial crises, real causes should be differentiated from the side-effects. One of the essential causes for the current crisis is the discrepancy between the linear growth of the real economy and the exponential growth of financial management created by the derivative-economy,"
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. ,,"
"Not learning lessons from the bank collapse reproduces or strengthens the dominance of the financial sector. The danger of a repetition of the crisis grows..The political right-wing slanders the health reform project as an `attack on freedom.'"
Is Growth Only Possible Through Inequality? (tags)
Does capitalism make the rich richer and the poor poorer instead of creating prosperity for everyone as promised? Inequality declined considerably between 1930 and 1970 in western industrial states.
Economists Search for New Definition of Well-Being (tags)
To the vulgar materialist, all life consists of cloud-atoms and sky-atoms. A world without spirit is not human.
Stimulate or Die by Joseph Stiglitz (tags)
Joseph Stiglitz received the Nobel Prize in Economics in 2001.
Attac France on the Stiglitz Report (tags)
If the world really lives through a systemic crisis, solutions must also be sou9ght on this plane. Regrettably the mandate limits the commission to reform the international monetary system. The UN is the only institution with a democratic legitimacy.
Political countervailing power of the G-millions against the economism of the neoliberals can only be formed with a long breath.. The grass grows from below; words fall empty from the top.
Escritor y articulista paraguayo (n. en Asunción, 1967), autor de "Fuego y Cenizas de la Memoria" y "Las Banderas de Mitre".
Economic Crisis and the Crisis of Neoliberal Ideology (tags)
The crisis has his origins in the "real" economy. Inequality is the ideological motor of neoliberfalism. German president Kohler described the financial markets as a monster. The metaphor has changed from market as rational subject to monster.
It is not a conjunctural crisis (tags)
"instinct is the hereditary knowledge of a specific program of life"
The New Feasibility and the G20 (tags)
These fictional articles point to a future after the world turned upside down by financial speculation. They were published in a fictional issue of "DIE ZEIT," the famous Hamburg weekly.
Government Stimulus Plans are `Not Enough': Joseph Stiglitz (tags)
Governments have to do more than just spend money, says Stiglitz.
Barack Obama: Crime Boss (tags)
Obama's criminal partnership with Wall Street
Disarm the Markets! New Attac Basis Text (tags)
The therapy depends on the diagnosis. Mechanisms, instruments and actors can be identified whose action and teamwork led to the crash. The age of a unipolar world was very short. An historical chance is opening against finance capitalism.
The Misery of the WTO: For a Reinvention of World Trade (tags)
The crisis of the WTO has two causes: a lack of trust and an ideological prejudice. A lack of trust exists because the countries of the North judge trade with two standards: free trade for the South and protectionism for their own economies.
Cuba: The hurt of no longer being (tags)
* Fragment from a work by Daniel Barret about the evolution of Cuba’s political regime since November 17 2005 till today. This piece attempts to place the role of Fidel Castro these past months.
The Obama Government: Take from the Poor and Give to the Rich (tags)
These past several weeks have witnessed a stunning attack on working people, with the Obama administration leading the charge. It started with Larry Summers, Obama’s chief economic adviser, responding to the A.I.G. bonuses by pontificating about the sanctity of contracts: “We are a country of law. There are contracts. The government cannot just abrogate contracts.” Like a mad dog pursuing its prey, he pounced on the conclusion that absolutely nothing could be done about the bonuses. Unfortunately, Summers voiced no similar outcry when the Obama administration, only weeks earlier, insisted that the U.A.W. contracts be renegotiated as a condition for the auto industry receiving a bailout, suggesting that a different set of rules applies to the rich than to the rest of us who constitute the majority and work for a living.
Stiglitz Calls for Global Solutions to Crisis (tags)
Nobel Prize-winning economist Joseph Stiglitz argues that the only way to fix the world's economic crisis is to act globally. Speaking at the Development Policy Forum in Berlin on Monday he said the reform of the world's financial institutions wasn't going fast enough.
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.
Obama's Bank Bailout: Bush's Plan Resurrected (tags)
To reintroduce an unpopular idea by a different name is a classic trick of politicians. Obama has done precisely this in unveiling his bank bailout plan. In a desperate attempt to distance himself from Bush, the Obama administration has added some complicated economic terms packaged into a system he simply calls the “bad bank.” The essence of the plan, however, is exactly what Bush originally proposed.
Time for a Bad Ideas Bank (tags)
The global economic disaster plunges economics into a legitimation crisis-not yet noticed by the vast majority of the affected. The current financial crisis involves dogmas that markets function best and correct their own mistakes.
A New Administration, Tired Old Policies (tags)
Counterproductive policies heading America for depression
VIDEO: Halliburton Heist (tags)
In the "Creole trick," the perpetrator pretends to be the victim. Cheney sits in a wheelchair and the war profiteering is repressed. The $3 trillion war (cf. Joseph Stiglitz' book) is a theft of the present and future that reduced American stature to a rogue state.
Back from the Wilderness: Joseph Stiglitz (tags)
Economy theory has long explained why unhindered markets do not correct themselves, why regulation was necessary and why the government had an important role to play int he economy. Many who worked for the financial markets forced a kind of market fundamentalism.
5 Disastrous Decisions That Got Us into This Econmic Mess (tags)
We are at a dangerous moment. Behind the debates about future economic policy is a debate about history. Joseph Stiglitz, a Nobel laureate, is a professor of economics at Columbia University.
"Like the Fall of the Wall" (Joseph Stiglitz) (tags)
The mixture of low interests, excessive liquidity and lax oversight on money institutes led to the financial crisis. National indebtedness rose two-thirds in only eight years. The govt should immediately begin investing in the infrastructure, education and other projects.
VIDEO: Joseph Stiglitz on NOW, 11/20/2008 (tags)
Insight on the Economic Meltdown. Joseph Stiglitz talks about misplaced priorities in handling the economic meltdown and what we should do next. A culture of risk-taking was totally inappropriate.
Global Crisis-Made in the USA (tags)
The ecdonomy should serve humankind; humankind should not serve the bankers.
Growing financial crisis.
The Philosophies of Deregulation and Neoliberalism are Dead in the West (tags)
"The patient suffers massive internal bleeding and is given a blood transfusion. The banks lent money and accepted inflated assets as security. This bubble burst..Those who pocketed profits for years want to pin the losses on the taxpayers."
"Just Say No!" to the Robin Hood-in-Reverse Bailout (tags)
How people can stand up to threats on the economy by Wall Street banking/securities corporations, where are alternatives to save the economy that don't involve theft of taxpayer dollars??
The government-business looting of America.
Paulson go out. Truth about "unbelievable" big 2008 crash (tags)
Barack Obama: "No necesitamos sólo un plan para Wall Street. Hay que incorporar medidas de salvación para miles de ciudadanos" que están perdiendo sus casas y sus ahorros, declaró Obama. "Tampoco podemos cometer el error de que el dinero de los contribuyentes sea usado para corregir malas decisiones" ////////////////////// “Durante un par de años, el capital desafió a la ley del valor, inflando su valor más allá de su capacidad de reproducción real, pero la ley del valor se ha cobrado la afrenta a un precio enorme. Ha quedado de manifiesto que la ganancia capitalista es un objetivo muy estrecho para desenvolver productivamente la riqueza social acumulada. La crisis mundial plantea la reorganización social general sobre nuevas bases” ////////////////////////////////// euroimmersion.com: La crisis no es culpa de las “subprime” o hipotecas ninha. La crisis tampoco es culpa de la codicia de unos banqueros. La crisis no se supera con una “regulación” sino con un cambio radical y con nuevos paradigmas que abandonen las trampas y falsedades neoliberales de la Escuela de Chicago por otras más acordes con la sociedad del conocimiento en que tenemos que avanzar. La actual crisis obliga a revisar el modelo entero y a decir la verdad: la globalización no ha producido nada de crecimiento ni bienestar para nadie ha sido un modelo fracasado y de muy corto alcance histórico pero a la vez ha permitido el robo y la concentración de poder y dinero como nunca antes en la historia de la humanidad en una casta dirigente parásita que no ha aportado nada a la sociedad. Crash 2008: la mayor estafa bancaria, bursátil y económica de la historia. Los datos más importantes. Paulson go out. All the truth about this "unbelievable" big 2008 crash
Bail-Out, Economic Democracy and the Socialist Path (tags)
David Schweickart, political philosopher, discusses the financial crisis, what it exposes about capitalism, how it can set the stage for economic democracy, and open the socialist path.
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.
The Great Ruin by Joseph Stiglitz (tags)
The war has destroyed the economy, society and sovereignty of the country. The economic misery is only an integral element of the general debacle. Paul Bremer issued laws abolishing import duties and lowering corporate taxes. Privatizing state enterprises violated Hague Convention of 1902.
Lo que Joseph Stiglitz debería saber (tags)
Todo lo que Stiglitz condena al enfocar la política tributaria fue implementado por Borda, para financiar la juerga de unas pocas decenas de burócratas del gobierno
The Time is Ripe: Democratic Controls of the Financial Markets! (tags)
Like the melting of the dollar, the energy, food and housing crises have systemic roots, the logic and dynamic of maximum profit.. The US is experiencing a "margin call." The world wants its money back. The economy and the financial markets should serve people, not vice versa.
Corruption has become a cancerous disease of US society. No end or even weakening of the lies and deception is in sight. In the politics of the nation, corruption scandals have long reached the center of power.
World Bank and IMF Policies Caused Food Crisis (tags)
The IMF changed its economic direction and took a market radical neoliberal economic course at the beginning of the 1980s with the rise of monetarism. Hunger inthe world can only be overcome with long-term sustainable strategies, not with the short-term horizon of Wall Street.
Disturbing Stirrings - Ratcheting Up For War On Iran (tags)
Worrisome signs resurfacing.
Robert Reich's "Super-Capitalism: How the Economy Undermines Democracy" (tags)
When everyone talks about stocks and consumption, what happens to social responsibility and public welfare? We suffer under a schizophrenia. The consumer in us opposes the worker. Businesses cannot be socially-responsible because they serve only one goal-maximization of profit.
Mexico Exports Corn and Impoverished Farmers (tags)
Food that Mexico could have easily produced itself must be purchased for ten billion dollars every year from the US. Today Mexico can offer ruined farmers as its most important export article. Prices for corn, wheat and rice soared 40-50 percent within eight months.
The US military occupation of Iraq cannot be won militarily and cannot be paid for. The military occupation was sold as a cheap war that would only help the US and the world: more security and a lower price of oil. Empire and double standards bring only nihilism and distrust.
Financial Meltdown A "Gigantic Fraud"! (tags)
Leading Economic Writer: Financial Meltdown A "Gigantic Fraud" - Says Americans "duped" by "serpent-tongued" elite!
IMPEACH: Why I Believe Bush Must Go (tags)
... followed by jail. If we fail to punish this President for having lied us all into a war of conquest, then we send a message to all future presidents that it is permissible for them to lie us into wars of conquest. If, by our inaction, we send such a message of consent, then we bear the responsibility for the millions who will die in such wars. Their blood yet to be spilled stains us. It is up to We The People to take action. Congress has abandoned their responsibilities under the Constitution. Congress is no more capable of holding King George to account than Parliament was of holding King Charles I to account. And the American people are no more willing to sit still for it than the British were.
Joseph Stiglitz on "Democracy Now" Friday 2/29 (tags)
Professor Stiglitz will be interviewed by Amy Goodman on "Democracy Now" Friday 2/29.
The Republican Candidate (4 and 5) (tags)
If this is a subject of interest to you, in the United States today there are five Cuban prisoners, separated one from the other by thousands of miles. They have no area that can be sarcastically called the “Hanoi Hilton”. Their suffering and the injustice of which they are victims will be known the world over; don't doubt it for a minute
A Will for Change: New Economic Thinking (tags)
Since economic thinking shapes the world, we can't leave economists alone to putter with their theories. Too many of them hung up their thinking caps the moment they got their degrees, and stopped looking out the window.
After the crisis of 1997, not one important fianncial reform was carried out in the world. Liberalizationof capital markets causes instability and not necessarily growth. In South Korea, the IMF recommended the sale of state banks to US investors.
Reviewing James Petras and Henry Veltmeyer's "Multinationals on Trial" (tags)
How corporate giants plunder developing nations.
The Bank of the South: An Alternative to IMF and World Bank Dominance (tags)
Latin America's alternative to the IMF and World Bank
Swastikas at Hunter Airfield, and a Rabbi on the Run
Reviewing Linda McQuaig's "It's the Crude, Dude" (tags)
War, oil, Iraq, Big Oil, global warming and more in one package.
Global Warming Destroys Maple Sugar Industry (tags)
Global warming is the most serious threat facing planet. We have an opportunity, and an obligation, to lead in solving this global crisis by investing in clean and safe electricity, efficient buildings and a less polluting transportation system.
The Underrated Power of Economists (tags)
During the Great Depression between the two world wars, the Brit John Maynard Keynes came to an insight that was implemented in the 1960s. The state must guide the economy by its spending to avert the danger of depression.
The big brother from the North misled the South.. The slogan "More Market, Less State" is losing a few old friends in Europe.. What is changing is the discourse, the eulogy of the market and its possibilities.
Who Frees Us From Capital? (tags)
Whole continents bowed to the Washington Consensus..The World Bank must end its embittered attack on distribution policy.. Privatization awakened false hopes.. Evo Morales in Bolivia nationalized the oil and gas economy and raised the monthly minimum wage to $100.
The World Bank's Customers Are Disappearing (tags)
Many developing countries that gained needed credits only on World Bank conditions are poorer today than before. The Good News is that the cartel of creditors is dissolving. Former debtors threaten to become independent.
Fake Congressional Opposition to War (tags)
Congress again betrays the electorate
Demcrat Agenda Omissions (tags)
Democrats in Congress again betraying the public trust.
Omissions in the Iraq Study Group Report (tags)
Omissions in the ISG Report are more important than what's in it.
THE PRICE OF IMPERIAL ARROGANCE (tags)
THE HARM AT HOME AND ABROAD OF BUSH ADMINISTRATION POLICY
"The War is Bad for the Economy": Joseph Stiglitz (tags)
Information channels into the White House were distorted. Bush wanted only certain information, and that's mostly what they supplied him with.. The only people benefiting in this war are Bush's friends in the oil industry.
American legitimacy is undermined. Hardly anyone believes in American morals any more. American credibility was shattered.. The present rests on errors of the past, lies and crimes. The Bush administration created a self-fulfilling prophecy with the Iraq invasion.
The South is Bled White (tags)
Since the Asian crisis and the 1980s, we have had massive net capital flows from the South to the North. The South is systematically bled white under the present conditions of the world economy.
DEMOCRACY IN AMERICA - IT'S SPELLED C-O-R-R-U-P-T-I-O-N (tags)
US past and present policy using a broader definition of corruption
Five Years After WTO Protests: Seattle Weekly Trashes Anti-Globalization Movement (tags)
The media spin cycle leading up to major anti-globalization protests has become so predictable that activists have been forced to come up with better media strategies to keep up with the lies and disinformation. The mainstream media starts the cycle several months in advance with articles and coverage about the upcoming summit and accompanying protests.
Education is not a Commodity for Trade (tags)
"Educational policy can and must bring light into globalization.. The world is no longer as simploe as in biblical times when the traders could be simply chased from the temple. Education must remain master in its own house.. Education is not a commodity.."
World Social Forum challenges inequality (tags)
MUMBAI, India – On the sidewalk of a busy Mumbai street, two tiny children and their baby brother, clad only in a shirt, sit in a patch of dirt, directly in front of a cell phone store.
US to the 3rd World: ''Do as I say, not as I do'' (tags)
Emerging markets like Brazil, India, and Mexico should not strive for a mythical free-market economy (which never existed, nor follow the encomiums of US special interests -- for they preach free markets but rely on the government to advance their aims.
Oil Companies Protected from Investigation (tags)
Bush Orders Oil Companies Protected From Investigation! A Licence To Loot
Corporate corruption and the Bush Administration (tags)
Corruption
Questions of Life and Death (tags)
"Many politicians lack a moral imperative today. They act as though they have no options because the economy dictates conditions. This is not true. Politicians can still make decisions in the interests of many, not in the interests of a few.." From German