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Tag Archives: power

The Consolidation of Dollar Hegemony after the Collapse of Bretton Woods: Bringing power back in

Collapse, ma non troppo!New IDEAS Working Paper on the alternative views of the collapse of Bretton Woods. From the abstract:Contrary to conventional views which suggest that the collapse of Bretton Woods represented the beginning of the end of the global hegemonic position of the dollar, the collapse of the system liberated American policy from convertibility to gold, and imposed a global fiat system still dominated by the floating dollar. The end of Bretton Woods and the set of regulations...

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Power and dominance in the Colonial and Post-colonial times

By Sunanda Sen (guest blogger)The recent uprising and protests, in a large number of the White-settled countries in connection with the murder of an unarmed Black-American, George Floyd by a White policeman on duty in Minneapolis has re-opened pages of history relating to unequal power , with state- sanction of White supremacy over ‘others’ having a subordinate status. As history unfolds it, the over-powered included the slaves acquired from Africa, the indentured labour shipped from...

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Exposing the disinformation industry — Paul Robinson

What we knew already. The perps accuse others of doing what they themselves are doing or have done. The power game. When I was a young man, one of my mentors told me, "You need to study power." He went on to say that power is endemic, and the only ones that actually understand it are those that use it. It's sort of like playing poker. If you don't know who the mark is, you are. IrrussianalityExposing the disinformation industry Paul Robinson | Professor, Graduate School of Public...

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Wealth has always been about power — Blair Fix

What has confused economists for centuries is that they’ve focused on what’s inside the fence of property rights, not the fence itself. And who can blame them? Historically, the things that were owned were easy to see. In contrast, the act of ownership — the institutional fence of private property — was abstract. And so economists tied wealth to property, not the property-rights fence.… In reality, wealth had always been non-material — a social relation of exclusion. The digital revolution...

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The new left economics: how a network of thinkers is transforming capitalism — Andy Beckett

After decades of rightwing dominance, a transatlantic movement of leftwing economists is building a practical alternative to neoliberalism.... The new leftwing economics wants to see the redistribution of economic power, so that it is held by everyone – just as political power is held by everyone in a healthy democracy… The new economists’ enormously ambitious project means transforming the relationship between capitalism and the state; between workers and employers; between the local and...

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The “Fixing Capitalism” Headfake — Yves Smith

Must -read. This places economic power front and center and shows how without addressing social, political, and economic the result of captialism is neo-feudalism.Surprisingly, or may not so much, Yves Smith leaves out a major contribution of the universal employment guarantee by government, in which government guarantees to match a job with a person who is otherwise idle and wants to work. This removes the onerous aspect of capitalism that uses unemployment to discipline labor through the...

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Jason Hickel — Inequality metrics and the question of power

How should we measure inequality? There are two metrics that economists use: relative and absolute. In the past I have argued that the relative metric – which is by far the dominant approach, embodied in the standard Gini index, in the famous “elephant graph”, and inlogarithmic distribution graphs – is problematic in that it is aligned with the interests and perspectives of the rich, and effectively obscures real inequalities in the distribution of new income around the world. From the...

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