Capitalism

Tale Of Two Depressions

December 5, 2018 David F. Ruccio, Anticap.wordpress.com Educate! Capitalism, Inequality, New Economy

Mainstream economists continue to discuss the two great crises of capitalism during the past century just like the pillars of society performed in the brothel—a “house of infinite mirrors and theaters”—in Jean Genet’s The Balcony.* The order they represent is indeed threatened by an uprising in the streets, and the only question is: can they reestablish the illusion of control? The latest version of the absurdist economic play opens with Brad DeLong, who dons the costume of the liberal mainstream economist and argues that, while the Great Depression of the 1930s was far deeper than the Great Recession (what I have long referred to as the Second Great Depression), the recovery from the crash of 2007-08 was so mishandled that it casts a shadow over the U.S. economy in a way the first Great Depression did not.

Capitalist Society Under The One Party Of Tweedle Dee & Tweedle Dum

December 3, 2018 Paul K. Haeder, Counterpunch.org Educate! Capitalism, Electoral Politics

That puking up barbarism in this enclave of genocide and perpetual war, resource theft and global toxification comes in a coat of many colors. In the simplest terms I see it daily in my job as underpaid and spat upon social worker jiggering with the penury, punishment and putrefying systems of bureaucratic hell and legal rape exemplified in the schizophrenic American version of capitalism. In no way am I ever not entertained by the magical thinking and retrograde beliefs of those I serve – homeless veterans who in some cases decry welfare for the masses while picking up their welfare checks and benefits from the Veterans Administration. On top of that, they feel entitled because they ended up in the economic draft of the US Military Industrial Complex.

The Death Of Small Businesses In Big Cities

November 29, 2018 By Rebecca Jennings, Vox.com Create! Capitalism, Revisionism, Small Business

If you want to understand “retail death” — and I’m using quotes here because the concept of buying and selling things is very much alive — all you have to do is look at one very specific street. In the ’90s, the stretch of Bleecker Street that snakes north through New York City’s Greenwich Village was home to dozens of independently owned bookshops, sex shops, antique stores, and framing galleries. But the death knell rang when the luxury fashion house Marc Jacobs decided to settle there in 2001, the year after the nearby Magnolia Bakery was featured in an episode of Sex and the City. Within the next 10 years, 44 of those original neighborhood businesses would close to make space for the chains and luxury boutiques that followed.

How Capitalism Prevents Confronting The Climate Crisis

November 28, 2018 By Hamilton Nolan, Splinternews.com Educate! Capitalism, Climate Change, Crisis

On Meet the Press yesterday, Utah Senator Mike Lee said about our climate change crisis, “all the proposals I’ve seen so far that would address any of these issues would devastate the U.S. economy.” This is considered a reasonable explanation of maintaining the status quo. This is the insanity built into capitalism. Lee was specifically explaining why he would not support a carbon tax, the single most direct, rational, and market-friendly way of restricting carbon emissions. The context for the question was the release on Friday of a report from the US government itself saying that, within a century, climate change could cost our country “hundreds of billions of dollars annually” and kill thousands of additional Americans per year.

Thieves Like Us: The Violent Theft Of Land And Capital Is At The Core Of The U.S. Experiment

November 26, 2018 By Roxanne Dunbar-Ortiz, Counterpunch.org Educate! Capitalism, Land, US Imperialism

The United States has been at war every day since its founding, often covertly and often in several parts of the world at once. As ghastly as that sentence is, it still does not capture the full picture. Indeed, prior to its founding, what would become the United States was engaged—as it would continue to be for more than a century following—in internal warfare to piece together its continental territory. Even during the Civil War, both the Union and Confederate armies continued to war against the nations of the Diné and Apache, the Cheyenne and the Dakota, inflicting hideous massacres upon civilians and forcing their relocations. Yet when considering the history of U.S. imperialism and militarism, few historians trace their genesis to this period of internal empire-building.

Confronting The Carbon Capitalists

November 23, 2018 Seattle IWW, Itsgoingdown.org Resist! Capitalism, Climate Change, Wildfires

Northwest forests, once some of the most biodiverse regions on Earth, have been clear-cut and laden with biocides. Complex interrelationships have been smashed with saws and machinery to make way for monoculture “working forests” devoid of biodiversity. Decades of fire suppression by the Forest Service on behalf of timber companies have left trees to grow on each other like matchsticks waiting to be lit. In the face of all of this, liberals, true to form, have resorted to self-flagellation and hand-wringing. The New York Times Magazine’s recent piece, “Losing Earth: The Decade We Almost Stopped Climate Change” by Nathaniel Rich, places the blame of climate change and ecocide squarely at the foot of an undefined human nature.

China: A New Philosophy Of Economics

November 21, 2018 Peter Koenig, Informationclearinghouse.info Educate! Capitalism, China, Economics, Inter-Imperialist Rivalry

The west consistently seeks to undermine the interests of their partners, be it for trade or political agreements; be it partners from the west, their smaller and weaker brothers; or from the east; or from the south – there is always an element of exploitation, of “one-upmanship”, of outdoing a partner, of domination. Equality and fairness are unknown by the west. Or, when the concept was once known, at least by some countries and some people, it has been erased by indoctrinated neoliberal thinking – egocentricity, “me first”, and the sheer, all-permeating doctrine of “maximizing profits”; short-term thinking, instant gratification – or more extreme, making a killing today for a gamble or deal that takes place tomorrow.

What Banks Owe America

November 19, 2018 Isaiah J. Poole & Devin Case-Ruchala, Prospect.org Educate! Banks, Capitalism

The last time the Community Reinvestment Act (CRA) was in the news, conservative critics of financial regulation blamed the law for the 2008 financial crisis, complaining that Wall Street’s reckless behavior didn’t cause the crash; it was all that mandated lending to poor people. So ten years later it is scarcely surprisingly that the law is under attack again. Activists in the low- and moderate-income communities that the law is supposed to benefit seek to hold banks to a higher standard that includes investments by financial institutions that build wealth and power for marginalized residents, rather than simply extracting profits from them.

‘Everything For Everyone’ Brings Cooperative Revolution To Life

November 18, 2018 Matt Stannard, Occupy.com. Create! Capitalism, Cooperatives, New Economy, Revolution

The most striking secret of emergent radical economic structures like worker ownership is that they aren’t radical at all. They’re not even new. As Jessica Gordon Nembhard has chronicled in the case of African-American cooperative economic structures over the past 300 years, and as John Curl encyclopedically laid out for U.S. history as a whole, material cooperation, either in opposition to capitalism or quietly alongside it, is an integral part of the American narrative. It’s a history that free market think tanks and corporate propagandists don’t want us to know.

Argentina Goes Back To The IMF, Opening Floodgates For Neoliberal Intervention And Structural Adjustment

November 17, 2018 Staff, The Tricontinental Educate! Argentina, Capitalism, IMF, Latin America

Argentina. After 15 years of distancing itself from the grip of IMF policies, in May 2018 Argentina went back to the International Monetary Fund (IMF) under the watch of President Mauricio Macri. Far from Macri’s promise to make Argentina the “supermarket of the world” and attract foreign investment, the negotiations with the IMF deepened Argentina’s crisis. The agreements between Macri and the IMF are part of a political intervention masquerading as economic policy. As long as there is a commitment to repay the massive debt to the IMF, it is international capital that will write Argentina’s economic policies—not the people—regardless of who sits in the presidential office.

How Neoliberal Economists Wreak Havoc On The Global Poor While Protecting The Financial Elite

November 16, 2018 Vijay Prashad, Independent Institute Educate! Capitalism, Finance, IMF, Inequality, Uneven Development

On December 1, Mexico will have a new president—Andrés Manuel López Obrador. He will take over the presidency from the lackluster Enrique Peña Nieto, whose administration is marinated in corruption. Peña Nieto’s legal office has already asked the Supreme Court to shield his officials from prosecution for corruption. The elite will protect itself. López Obrador will not be able to properly exorcize the corrupt from the Mexican state, let alone from Mexican society. Corrupt weeds grow on the soil of capitalism, the loam of profit and greed as well as of rents from government contracts. López Obrador comes to the presidency as a man of the left, but the space for maneuvering that he has for a left agenda is minimal. Mexico’s economy, through geography and trade agreements, is fused with that of the United States.

Meet Ten Corporate Giants Helping Israel Massacre Gaza Protesters

November 15, 2018 By Joe Catron, Mintpressnews.com Educate! Capitalism, Corporations, Gaza, Israel, Massacres, Nationalism, Protests

NEW YORK — As Israeli soldiers gun down unarmed Palestinian demonstrators in the Great March of Return, their lethal operations depend on an array of contractors and suppliers, many of them companies based outside Israel. “The Israeli military relies on a network of international companies, supplying everything from sniper rifles to tear gas, to carry out its massacres of protesters in Gaza,” Tom Anderson, a researcher for Corporate Occupation, told MintPress News. “These companies are knowingly supporting war crimes, and are complicit in state-orchestrated murder.” Since the mobilization began on March 30, Israeli forces have killed 205 Palestinians in the Gaza Strip...

Billionaires, Not Voters, Are Deciding Elections

November 12, 2018 By Sonali Kolhatkar, Truthdig.com Educate! Capitalism, Electoral Politics, Ruling Class

The recent midterm elections offered an opportunity for America’s moneyed elites to spend their ridiculous wealth on a catalog of their favorite causes and candidates. We are locked in a vicious cycle, where billionaires continue to amass wealth due to policies their influence has bought, which in turn enrich them with even more resources with which to shift the American polity in their favor. Part of the problem is that billionaires’ control over our democracy is largely invisible. As a recent study by The Guardian showed, high-profile wealthy elites like Warren Buffett or Bill Gates are anomalies. To that point, “[M]ost of the wealthiest US billionaires have made substantial financial contributions...

The Billion Dollar Companies In The Business Of Imprisoning Children

November 10, 2018 By Emily Ludolf, Occupy.com Educate! Capitalism, Children, Detention Centers, Immigration, Prison

Revelations that the United States is conducting widespread detention of immigrant children who were separated from their families at the border sparked national outrage. Reports of the inhumane conditions and treatment drew shocked criticism, and the images of children in cages as well as the recordings of children screaming for their mothers resulted in the majority of the public disapproving of the cruel and unnecessary treatment of immigrants. Much of the criticism has been aimed at Immigration and Customs Enforcement, or ICE, with rising calls to abolish the agency in its entirety. #AbolishICE has become a movement as people have reacted to the horrific behavior overseen by ICE officials.

Capitalism Is Killing Patients… And Their Physicians

November 5, 2018 Dr. Michael Pappas, Popular Resistance. Educate! Capitalism, Healthcare, Physicians, Worker Rights

Until physicians are willing to accept the fact they they are being exploited by the same system that harms their patients, there will be no progress made in addressing physician depression and suicide. At that same time, until health care providers generally accept that it is our current capitalist system which puts profit production above the well being of every living thing on this planet--including themselves--we will not be able to effectively address true social and structural causes of disease and suffering. Capitalism exploits, damages, and destroys us all.

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