Tuesday , August 20 2019
Home / Tag Archives: capitalism

Tag Archives: capitalism

Apocalypse economics and economic apocalypse — Richard Westra

What cutting edge economic anthropology and economic history shows is that prior to the dawn of the capitalist era it would have been nonsensical to refer to such a thing as an “economy” and no one ever did. The reason for this, quite simply, is that while economic reproduction is an existential facet of all existing human societies it had always been intermeshed with other social practices–culture, religion, ideology, politics, and so on–and indistinguishable from them. Only under...

Read More »

Bill Mitchell — The Greek colony remains in depression

On June 13, 2019, the European Stability Mechanism (ESM) released its – Terms of Reference for the Evaluation of the Greek Programmes. At the same time, the head of the ESM (Klaus Regling) was lecturing Greece, which is approaching a national election next month, that it “risks missing its budget target” (Source). Apparently, as the failed Syriza government tries to gain electoral support after years of abusing the Greek people who put their faith in them, the bean counters are worried that...

Read More »

Peter James Hudson — How Wall Street Colonized the Caribbean

The expansion of banks such as Citigroup into Cuba, Haiti, and beyond reveal a story of capitalism built on blood, labor, and racial lines.  Scrubbed from the pages of glossy coffeetable books, the history of U.S. imperialism can be found in the archives of Wall Street’s oldest, largest, and most powerful institutions. A deep dive into the vaults and ledgers of banking houses such as Citigroup, Inc., and J. P. Morgan Chase and Co. reveals a story of capitalism and empire whose narrative is...

Read More »

The World Is Running Out of Time — Bertrand Badré

For decades, most of the major economies have relied on a form of capitalism that delivered considerable benefits. But systems do not work in isolation. Eventually, reality asserts itself: global trade tensions reemerge, populist nationalists win power, and natural disasters grow in frequency and intensity. "Capitalism" is the politico-economic system that favors capital (real and financial assets) over labor (workers) and land (environment, ecology) because it is assumed that growth is of...

Read More »

Does Capitalism Have a PR Problem? — Erika Fry

Still clueless. Caught in the bubble and out of touch. “For every one positive article about capitalism, there are 11 negative ones,” said Nathan Rosenberg, founding partner of Insigniam, a management consulting firm. “CEOs should seize their job. Capitalism has created more elevation of [the] human condition than any religion or government ever has. We don’t tell our story. We don’t talk about the benefits. We have to get out and tell our story.”... FortuneDoes Capitalism Have a PR...

Read More »

Joseph Stiglitz — The Economy We Need

After 40 years of market fundamentalism, America and like-minded European countries are failing the vast majority of their citizens. At this point, only a new social contract – guaranteeing citizens health care, education, retirement security, affordable housing, and decent work for decent pay – can save capitalism and liberal democracy. Three years ago, US President Donald Trump’s election and the United Kingdom’s Brexit referendum confirmed what those of us who have long studied income...

Read More »

Paul Cockshott — What then is the escape from capitalism?

What then is the escape from capitalism? What would be the essential features of a socialist economy, one the would be really achievable? Exactly the right question. It's not just about there but getting from here to there. The former is utopian, the latter involves being realistic. This is not primarily a theoretical question but a practical one.Marx concluded that capitalism is based on a monetary production economy, and that monetary production economies tend toward capitalism, as China...

Read More »

Michael Roberts — Progressive capitalism–an oxymoron

What is Stiglitz’s solution? “Things don’t have to be that way. There is an alternative: progressive capitalism. Progressive capitalism is not an oxymoron; we can indeed channel the power of the market to serve society.” You see, it is not capitalism that is the problem but vested interests, especially among monopolists and bankers. The answer is to return to the days of managed capitalism that Stiglitz believes existed in the golden age of the 1950s and 1960s.How are we to return to the...

Read More »

James K. Galbraith — Capitalism’s Great Reckoning

As the maladies of modern capitalism have multiplied, fundamental questions about the future of the world’s dominant economic model have become impossible to ignore. But in the absence of viable alternatives, the question is how to reform a system that is increasingly at odds with democracy. James K. Galbraith looks at three recent books on the crisis in capitalism:Joseph E. Stiglitz, People, Power, and Profits: Progressive Capitalism for an Age of Discontent, W.W. Norton, New York; Allen...

Read More »