Capitalism

Scheer Intelligence: Trump Is The Sweaty Armpit Of Monopoly Capitalism

September 11, 2020 Robert Scheer, ScheerPost.com. Educate! Capitalism, Corporatism, Democrats, White House

Over the past several decades, the largest corporations have absorbed and destroyed all opposition–big and small–and slowly come to play a role in every aspect of Americans’ lives. That’s the central argument of journalist David Dayen’s latest book, Monopolized: Life in the Age of Corporate Power. On this week’s installment of Scheer Intelligence, the American Prospect editor joins host Robert Scheer to discuss how corporations peddle the idea that consumers have the “freedom” to buy whatever they want in order to distract the public as their rights are increasingly eroded.

Richard Wolff: The Declining Empire With Chris Hedges

September 4, 2020 Richard D. Wolff, Democracy at Work. Resistance Report Capitalism, Empire Economy, Unemployment, US Empire

On this week's Economic Update, Prof. Wolff discusses the following: Denmark's new taxes on banks and rich people to help workers doing dangerous jobs; West Virginia AG sues Walmart and CVS for complicity in opioid scandal; and US State Department urges universities to sell shares in Chinese corporations. On the second half of the show, Prof. Wolff interviews author and journalist Chris Hedges on signs of the declining US empire.

How To Destroy Surveillance Capitalism

August 30, 2020 Cory Doctorow, One Zero. Strategize! Big Tech, Capitalism, Mass Surveillance, Monopoly

Figuring out what we want our tech to look like is crucial if we’re going to get out of this mess. Today, we’re at a crossroads where we’re trying to figure out if we want to fix the Big Tech companies that dominate our internet or if we want to fix the internet itself by unshackling it from Big Tech’s stranglehold. We can’t do both, so we have to choose. I want us to choose wisely. Taming Big Tech is integral to fixing the internet, and for that, we need digital rights activism.

Organizing Call: After The DNC And RNC – We Can’t Breathe!

August 26, 2020 Coalition, Popular Resistance. Organize! 2020 Elections, Capitalism, Racism, Right to Protest, Strikes

The Democratic and Republican Conventions are not confronting the crises of our times - the economic collapse, COVID pandemic, lack of access to healthcare, inequality, racism, the cost of education, and never-ending wars and more. No matter which corporate-funded party wins the election, the people must rule from below. The national uprising against police violence and the hundreds of wildcat strikes and rent strikes are a few examples among many that show once again that the only way to challenge this racist, militarized system is with the explosive power of people making demands and shutting the system down. Regardless of what happens in November our only way forward is to stay mobilized! Join us for this important webinar: After The DNC And RNC - We Can’t Breathe!

How The Pandemic Has Sped Up The Passage To Postcapitalism

August 25, 2020 Yanis Varoufakis, Thoughts for the Post-2008 World. Educate! Capitalism, COVID-19, Economic collapse, Post-Capitalism

Two days ago, something extraordinary happened. Something that has never happened before in the history of capitalism. In Britain, the news came out that the economy had suffered its greatest slump ever – more than 22% down during the first 7 months of 2020. Remarkably, on the same day, the London Stock Exchange, the FTSE100 index, rose by more than 2%. On the same day, during a time America has ground to a halt and is beginning to look like not just as an economy in deep trouble but also, ominously, as a failed state, Wall Street’s SP500 index hit an all-time record. Unable to contain myself, I tweeted the following: Financial capitalism has decoupled from the capitalist economy, skyrocketing out of Earth's orbit, leaving behind it broken lives & dreams. As the UK sinks into the worst recession ever, & US edges toward failed state status, FTSE100 goes up 2% & S&P500 breaks all time record! Today, this link between profit forecasts and share prices has disappeared and, as a consequence, the share market’s misanthropy has entered a new, post-capitalist phase. This is not as controversial a claim as it may sound at first. In the midst of our current pandemic not one person in their right mind imagines that there are speculators out there who believe that there are enough speculators out there who may believe that company profits in the UK or in the US will rise any time soon. And yet they buy shares with enthusiasm. The pandemic’s effect on our post-2008 world is now creating forces hitherto unfathomable.

After 300 Years, It’s Time To End Capitalism, Not Reform It

August 10, 2020 Margaret Flowers and Kevin Zeese, Clearing the FOG. Podcast Capitalism, Pandemic, Recession, Ruling Class

The United States is facing multiple crises with no signs of improvement on the horizon - a deep recession, high unemployment, millions of people soon to be displaced from their homes, a failed healthcare system in the midst of a pandemic, the climate crisis and more. We speak with Professor Richard Wolff, an economist and the author of "Democracy at Work", about the history of capitalism and how it is inherently unstable. Prof. Wolff posits that the United States is now in a situation where capitalism is unlikely to survive. He describes why that is and the lessons we must learn from the fatal mistakes made when the US was in a similar situation one hundred years ago.

The Consequences Of Inequality Can Be Fatal

August 3, 2020 By Richard D. Wolff, Economy for All. Educate! Capitalism, COVID-19, Inequality, Poverty

The COVID-19 pandemic, inadequately contained by the U.S. system, savages Americans of middle and lower incomes and wealth markedly more than the rich. The rich buy better health care and diets, second homes away from crowded cities, better connections to get government bailouts, and so on. Many of the poor are homeless. Tasteless advice to “shelter at home” is, for them, absurd. Low-income people are often crowded into the kinds of dense housing and dense working conditions that facilitate infection. Poor residents of low-cost nursing homes die disproportionally, as do prison inmates (mostly poor). Pandemic capitalism distributes death in inverse proportion to wealth and income. Social distancing has destroyed especially low-wage service sector jobs. Rarely did top executives lose their positions, and when they did, they found others. The result is a widened gap between high salaries for some and low or no wages for many. Unemployment invites employers to lower wages for the still employed because they can. Pandemic capitalism has provoked a massive increase in money-creation by central banks. That money fuels rising stock markets and thereby enriches the rich who own most shares. The coincidence of rising stock markets and mass unemployment plus falling wages only adds momentum to worsening inequality.

Terms Frequently Used To Describe Capitalism Don’t Hold Up Under Scrutiny

July 29, 2020 Richard D. Wolff, Economy for All. Educate! Anti-capitalism, Capitalism, Socialism, Workers

Capitalism is not, as its defenders like to claim, defined by “free” or “private” enterprises. Likewise, “free” or “unregulated” markets do not define capitalism. Politics and ideology drive its defenders to choose those definitions over clearly better, different definitions. The causes and consequences of conflicts over definition are part of today’s mounting battles over capitalism. The task of any definition is to separate its object from others, to expose its uniqueness so all can recognize it and distinguish it from other, similar objects. We define “dog” to differentiate it from other animals, “chair” from other furniture, and “Mary” from other people. We should then define capitalism to differentiate it from other economic systems (the organized production and distribution of goods and services in a community) around qualities unique to it.

Pandemic Worsens, Resistance Will Follow

July 28, 2020 John Clarke, Counterfire. Strategize! Capitalism, COVID-19, Pandemic, Public Health

Two recent developments in the US seem to capture just how the destructive, profit-driven irrationality of capitalism renders it incapable of effectively containing the present global pandemic. On July 10, the US recorded a staggering 70,000 new coronavirus cases in a single day and Florida saw 11,433 cases, with 435 more people hospitalised. The next day, the reopening of “The Most Magical Place on Earth,” Disney World, began in that state. Admission tickets for the four theme parks are already sold out for the month of July.

America’s Terminal Decline

July 25, 2020 Finian Cunningham, Sputnik. Educate! Capitalism, Corporate duopoly, Elections, Wars and Militarism

President Trump’s U-turn admission on the coronavirus pandemic, acknowledging that it’s going to get worse before it gets better, could be applied to the general condition of American politics. It can only get worse under present circumstances. That’s because there is no way to solve deep-seated problems in the US system under the prevailing bipartisan framework. It is delusional for Democrats to blame Trump and the Republicans for all the woes of that nation. The notion that America can be returned to some kind of presumed normality if Joe Biden is elected to the White House in November is a fantasy.

Capitalism May Not Survive The 2020 Global Crisis

July 24, 2020 Richard D. Wolff, RT. Educate! Capitalism, Economic Recovery, Pandemic, Recession

The current global crisis triggered by Covid-19 is the third capitalist crash in this century. And governments’ incapacity to consider non-capitalist solutions threatens to keep deepening this crisis into capitalism’s worst. The first was in early 2000. Because it was triggered by the absurdly high prices of dot-com stocks, it got named the “dotcom crisis.” In 2008, the trigger was widespread subprime mortgage default in the US and the crash was far more serious, one of the worst in capitalism’s history, second only to the crash of the 1930s. And now, in 2020, the trigger was a viral pandemic, and we have a far deeper crash than in 2008.

Expropriation Or Bust

July 17, 2020 Colin Jenkins, Hampton Think. Strategize! Capitalism, Neoliberalism, popular power, wealth inequality

Election seasons bring with them a renewed interest in politics. For most that couldn't care less about such concerns, election season becomes, for at least a moment, a time to reflect on deeper issues. For those of us who spend a large portion of our lives thinking, writing, acting, and engaging in these larger-than-life matters, election seasons bring other questions: can we affect change through the electoral system, how effective is voting, and how can we overcome the corporate stranglehold over politics, to name a few. However, beneath all of the political discussions lies an uncomfortable and overwhelming truth: Nearly all of our problems are rooted in the massively unequal ownership of land, wealth, and power that exists among the over-7 billion human beings on earth.

The Life-Saving COVID-19 Drugs You’ve Never Heard Of (And Why)

July 16, 2020 Lee Camp, Consortium News. Educate! Big Pharma, Capitalism, COVID-19, Health Care

The American profit-based healthcare system impacts us in more ways than just our gargantuan bill at the excretion end of an emergency room visit. Right now, our lovable idiotic inhumane healthcare system is acting as a hurdle to the manufacture and procurement of the right drugs to treat Covid-19. One of the drugs currently trumpeted as our savior is remdesivir. Despite sounding like the name of a Hobbit in Middle Earth, some reports from the corporate media make it sound like the drug will thrust us face-first into a fresh world of happiness — water parks and restaurants and random no-holds-barred make-outs with strangers. A world where when someone sneezes, we don’t dive under our desk with an adult diaper strapped on our face as a makeshift mask.

Pausing In The Pandemic Portal

July 16, 2020 By Hussan, S.K., Medium. Educate! Capitalism, COVID-19, Pandemic, Workers Rights and Jobs

Think of the clarity that this moment has provided you with who sustains you. Who sustains us. The farmworker. The health worker. The delivery worker. The cleaners. The grocery store workers. Can you hold on to this clarity as we step through the portal? That what sustains life is not those that choose profit, but those that ensure care. And can you remember that it is those that sustained us who were forced to keep on working? Can you remember once we are through this portal that we lived through once a period where almost all inessential travel was stopped. Where people chose to stay home, and often consume less. And yet climate change marched on. That individual action is not enough to stop the climate catastrophe. Can you remember that in this moment, it was not corporations or privatization that protected us? But social services and mutual aid.

Report Warns Of Unprecedented Wave Of Land Privatization

July 15, 2020 By Anuradha Mittal, Oakland Institute. Educate! Capitalism, Land, Natural Resources, Privatization

Amidst a worsening climate crisis, the Oakland Institute’s new report, Driving Dispossession: The Global Push to “Unlock the Economic Potential of Land,” sounds the alarm on the unprecedented wave of privatization of natural resources that is underway around the world. Through six case studies—Ukraine, Zambia, Myanmar, Papua New Guinea, Sri Lanka, and Brazil—the report details the myriad ways by which governments—willingly or under the pressure of financial institutions and Western donor agencies—are putting more land into so-called “productive use” in the name of development. “The fact that most of the land on our planet, especially in the Global South, is public land or land held under customary tenure systems is seen as an obstacle to exploitation and economic growth,” said Frederic Mousseau, Policy Director of the Oakland Institute and the lead author of the report. “Governments are being pushed to adopt the Western notion of private land ownership to give corporations access to natural resources—land, water, and minerals—just the opposite of the drastic shift we need to win the struggle against climate change."

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