In the run-up to the founding of NATO, those responsible in the USA knew: The Soviet Union posed no military threat. The weakened power could not sustain an attack on Western Europe even if it wanted to: The Soviet Union's economy is largely destroyed and technologically obsolete.
Why Karl Polanyi Still Matters (tags)
In The Great Transformation (1944), Karl Polanyi explains why the economy must be embedded in society and society must not be embedded in the economy. He describes land, labor and money as "fictitious commodities" since they cannot be multiplied and created on the market.
The Gigantic Chasm Between Democratic Rhetoric and Capitalist Reality (tags)
When we lose the idea of community and solidarity, we lose our capacity for collective action.
What are the Alternatives to Neoliberal Globalization? (tags)
Capitalism seemed to have a more social or civilized face for a time. After Roosevelt's New Deal and the defeat of fascism, gradual development of the social state occurred in Europe. Unions were accepted. The rulers were forced to political and social concessions.
Mirror images and ideological straitjackets on the path from Solidarity to sellout (tags)
A particularly harsh brand of capitalism was instituted via shock therapy in Poland, against the repeatedly expressed will of Poles. Unemployment, severe wage cuts and a growth in poverty were the results, just as with today’s austerity programs.
End the Fed? Or End the Market Economy? (tags)
When Republican Congressman Ron Paul recently introduced legislation to audit the Federal Reserve, diverse sections of the political spectrum applauded. And rightfully so. The Fed’s role in the still-developing bank bailouts is one of utter secrecy; the total cost of which — as estimated by the bailout’s Special Inspector General, Neil Barofsky — could cost taxpayers $23.7 trillion. The fact that legislation needed to be introduced to raise the question of the whereabouts of these funds points to a larger breakdown in U.S. democracy.
"Capitalism and Freedom" Unmasked (tags)
The dark side of Milton Friedman's economics.
Market Efficiency Hokum (tags)
Debunking the myth that free markets work best.
GOP Alliance may Split over Stem-Cells (tags)
For most of the 20th Century, leading conservatives and libertarians united against atheist-collectivists. To this day, a WWII-era alliance between US capitalists and moralists continues long after the defeat of the "Reds." And then came stem-cell research...
The Will to Paralysis: The Crisis of Shareholder Capitalism (tags)
Scapegoats or black sheep are used to evade the crisis of the system. Considering matters more exactly would be very appropriate. Are manifestations of corruption and tax evasion normal side-effects of a system fixated on money?