Posts Tagged ‘ capitalism ’

Climate change and capitalism

November 12, 2013
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Scientists have been ringing the alarm bells about climate change for decades now, but the message, which is barely filtering through into the public consciousness, has yet to do anything to reverse the destructive path that human civilization is on. There are perhaps many reasons for this, but the crux of the matter is corporate capitalism and it’s control of the political process. Corporations are driven by the logic of maximizing profits at all costs, including costs to society and to the environment, and politicians are driven by the logic of catering to these corporations, on whom their political careers…

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How Class Works (animated lecture by Richard Wolff)

May 17, 2013
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The description for this short lecture reads as follows: Richard Wolff is an economist who has studied class issues for more than 40 years. In this animation and audio presentation, Wolff explains what class is all about and applies that understanding to the foreclosure crisis of 2007–2011. He argues that class concerns the “way our society splits up the output [and] leaves those who get the profits in the position of deciding and figuring out what to do with them… We all live with the results of what a really tiny minority in our society decides to do with the…

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How viable is Economics? (lecture by Steve Keen)

October 30, 2012
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In the lecture below, Steve Keen, Associate Professor of Economics & Finance at the University of Western Sydney and author of Debunking Economics, questions the viability of modern neoclassical macroeconomics and its premises. His critique not only calls into question what is taught in virtually every economics department around the world, but also casts doubt on the typical policy recommendations made by neoclassical economists.

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Alternatives to capitalism?

June 28, 2012
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In this brief article first published in the Guardian, Richard Wolff, professor of economics at the University of Massachusetts and New School University, discusses the amazing success of the Mondragon Corporation of Spain and its potential as a model of social organization in a post-capitalistic economy. Key differences between businesses working within the MC framework and typical corporations are (1) the democratic nature of the decision-making process within the organization and (2) the limits on income inequality between workers. Imagine all businesses in a country working within the MC framework and you have a realistic and intriguing alternative to capitalism. Here…

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The assault on public education (by Noam Chomsky)

April 5, 2012
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Public education is under attack around the world, and in response, student protests have recently been held in Britain, Canada, Chile, Taiwan and elsewhere. California is also a battleground. The Los Angeles Times reports on another chapter in the campaign to destroy what had been the greatest public higher education system in the world: “California State University officials announced plans to freeze enrollment next spring at most campuses and to wait-list all applicants the following fall pending the outcome of a proposed tax initiative on the November ballot.” Similar defunding is under way nationwide. “In most states,” The New York…

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Coronary Capitalism (by Kenneth Rogoff)

March 7, 2012
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FRANKFURT – A systematic and broad failure of regulation is the elephant in the room when it comes to reforming today’s Western capitalism. Yes, much has been said about the unhealthy political-regulatory-financial dynamic that led to the global economy’s heart attack in 2008 (initiating what Carmen Reinhart and I call “The Second Great Contraction”). But is the problem unique to the financial industry, or does it exemplify a deeper flaw in Western capitalism? Consider the food industry, particularly its sometimes-malign influence on nutrition and health. Obesity rates are soaring around the entire world, though, among large countries, the problem is perhaps…

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Video: Capitalism is the Crisis

February 2, 2012
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This description for Capitalism is the Crisis comes from the website for the film: The 2008 “financial crisis” in the United States was a systemic fraud in which the wealthy finance capitalists stole trillions of public dollars. No one was jailed for this crime, the largest theft of public money in history. Instead, the rich forced working people across the globe to pay for their “crisis” through punitive “austerity” programs that gutted public services and repealed workers’ rights. Austerity was named “Word of the Year” for 2010. This documentary explains the nature of capitalist crisis, visits the protests against austerity measures, and…

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