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Capitalism

What Should Reparations For Slavery Entail?

By Ama Biney for Pambazuka News - Former British Prime Minister David Cameron’s insulting dismissal of trans-Atlantic slavery and his opinion that Africans and people of African descent should “move on from this painful legacy, and continue to build for the future,” would never be audaciously uttered to Jewish people by this arrogant warmonger who bombed Libya and sought to bomb Syria, but the British House of Commons voted against such action. As the African American actor Danny Glover said, the Jamaican government should tell Britain to "keep your prison, give us schools, give us infrastructure, not prisons."

21st Century Cures Act: A Gift To US Pharmaceutical Industry

By Brad Dixon for WSWS - The 21st Century Cures Act is an early Christmas gift from the US Congress to the pharmaceutical and medical device industries. The bill guts the regulatory powers of the Food and Drug Administration (FDA), weakening the standards used to judge the safety and efficacy of drugs and medical devices. Notably, the bill does nothing to address skyrocketing drug prices. As part of its public relations cover for the corporate giveaway, Congress included in the bill some limited funding for biomedical research and other health initiatives. This funding, however, is not mandatory and will be subject to the annual appropriations battles over discretionary spending.

US Gov Quietly Backing Out Of Its Promise To Phase Out Private Prisons

By Hanna Kozlowska for Quartz - Critics have long denounced private prisons in the US as unsafe, inefficient and at times, inhumane. Those critics, who include inmates and activists, seemed to find a powerful ally earlier this year when the Department of Justice announced it would phase out its use of private prisons for federal prisoners. This wouldn’t mean the end of privately-run incarceration facilities (they’re also used by immigration authorities and states), but it was seen as a step forward.

Why Targeting Corporate Democrats Is Part Of Fight Against Trump

By Mark Engler for Nation of Change - On November 14, six days after the election of Donald Trump, some 40 young people walked into the office of New York Sen. Chuck Schumer, calling on the senior lawmaker to step aside in his bid to be Senate minority leader. Carrying a banner that read “Wall St. Democrats Failed Us,” they argued that Schumer, who has received more than $3 million in campaign contributions from the securities and investment industry in the last five years, was exactly the wrong figure to lead the opposition to Donald Trump.

We Are All Deplorables

By Chris Hedges for Truth Dig - My relatives in Maine are deplorables. I cannot write on their behalf. I can write in their defense. They live in towns and villages that have been ravaged by deindustrialization. The bank in Mechanic Falls, where my grandparents lived, is boarded up, along with nearly every downtown store. The paper mill closed decades ago. There is a strip club in the center of the town. The jobs, at least the good ones, are gone.

Trump Picks Staunch Opponents Of Net Neutrality To Oversee FCC

By Aaron Pressman for Fortune - President-elect Donald Trump formally named two staunch opponents of net neutrality to oversee his policies for the agency that created the rules to prevent discrimination against Internet sites and online services. Jeff Eisenach, an economist who has been on Verizon’s payroll, and Mark Jamison, who formerly worked on Sprint’s lobbying team and now heads the University of Florida’s Public Utility Research Center, on Monday were named to Trump’s “agency landing team” for the Federal Communications Commission.

International Multiracial Working Class To Trump: Waking Up A Sleeping Giant

By Staff of Popular Resistance - Trump coming into office is a road out of other roads not taken. As a result, the veil has been lifted from more and more of us who have been made to live in fear and anxiety. It has taken us out from living our lives through snapchat or Love and Hip Hop in order to confront real life. It has impacted those of us who perhaps deep down inside would have been a little relieved if Hillary Clinton got elected. This road has disrupted the enchantment of somehow feeling accomplished for doing the most in terms of political contribution via voting when actually that should be the least.

Another Election Loser: Corporate Media

By Ari Paul for FAIR - Liberals had a good laugh this summer when CNN’s Brianna Keilar (8/17/16) insisted to Donald Trump campaign lawyer Michael Cohen that his team was “down” in the race. “Says who?” he asked. Keilar snarked back: “Polls. Most of them. All of them?” At the time, it was the sickest of all burns. As the polls kept forecasting a clear win for Hillary Clinton, Trump fans went back and forth between complaining about a rigged system and accusing the polls of being dishonest.

How Shareholder Pressure Worked At Apple

By Andrew Behar for Eco Watch - A classic example of a negotiation with a notoriously tough corporation that was quite heated (but ended up with a positive change) took place leading up to May 2, 2007, when Apple CEO, Steve Jobs, made the public statement on the Apple website, "Today is the first time we have openly discussed our plans to become a greener Apple. It will not be the last. We apologize for leaving you in the dark for so long."

Dario Fo: Ideas That Outrage

By Colin Revolting for Red Wedge - Dario Fo, who died this past week, was a great playwright of the years of unrest and rebellion in the 1960s and ’70s. His plays such as Accidental Death of an Anarchist and Can’t Pay? Won’t Pay! were hilariously cutting critiques of life under capitalism as it went into crisis. His style of theatre was like a Brecht play performed by the Marx Brothers in the age of TV. They even became long running hits in London’s West End.

The World Bank And IMF Won’t Admit Their Policies Are The Problem

By Larry Elliott for The Guardian - We hear you, poor people. That was the message that blared out from Washington last week. It came from Christine Lagarde of the International Monetary Fund. It came from Jim Kim of the World Bank. It came from Roberto Azevêdo of the World Trade Organisation. It came from every finance minister and central bank governor. The people who run the global economy wanted the world to know that they understood what had caused the Brexit vote and given Donald Trump a shot at the White House.

Rapid Burnout, Dissatisfaction Of U.S. Doctors Threatens Public Health Crisis

By Alexander Reed Kelly for Truth Dig - Half of U.S. physicians are “disengaged, burned out, and demoralized and plan to either retire, cut back on work hours, or seek non-clinical roles,” reports MedPage Today, citing a new nationwide survey commissioned by The Physicians Foundation. “Many physicians are dissatisfied with the current state of the medical practice environment and they are opting out of traditional patient care roles,” said Walker Ray, MD, president of The Physicians Foundation, in remarks that appeared with the survey.

The Financial Aristocracy

By Staff of ROAR - The history of capitalism is characterized by a fundamental paradox, in which the most abstract and most impersonal expression of value — money — mediates the most concrete and most personal form of power. From Medici popes in renaissance Rome and Rothschild peers in Victorian England to Goldman Sachs’ private army of mercenary technocrats, moneyed elites have long exerted extraordinary influence over politics.

Let’s Make Them Poorer, And We’ll Get Rich

By Chris Hamby for Buzz Feed News - In 2006, near the height of Wall Street’s disastrous speculative frenzy, some of the world’s biggest banks smelled an opportunity. They saw a way to turn the soaring price of oil into hefty profits. And it involved the tiny island nation of Sri Lanka. The bankers presented officials who ran the state oil venture there with a way to hedge against further price hikes.

Will Next Global Debt Crisis Come From Private Investors?

By Staff of Telesur - Private creditors have replaced the public sector as lead borrower to developing countries, which has contributed to a new borrowing and lending boom. Private financial institutions are responsible for prompting a potential “new wave” of debt crises among developing nations, according to a new report carried out by European Think Tank Eurodad. Public debt in developing countries is increasingly being borrowed from private lenders, which the authors argue has meant that an increasing portion of credit is not effectively monitored or regulated.
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