I highly recommend this short interview by John Authers of the Financial Times with Amar Bhidé, a professor at Tufts, in which he argues that a proper reading of Friedrich Hayek would lead to considerable skepticism about whether most of the changes in finance over the last three decades actually represent progress.
Read more...Reader dSquib flagged a “bizarre” article by Mike Konczal in the New Republic titled, “Corporatism” is the Latest Hysterical Right-Wing Accusation: The secret history of a smear.” dSquib seemed quite perplexed that anyone would deem calling Obama a corporatist, which as we’ll demonstrate is patently true, a smear.
Read more...Why Obamacare illustrates a big hidden cost of neoliberalism: that you are required to shop, and shopping is work.
Read more...As in so many Western countries these days, the social, political and economic landscapes in Spain are shifting at a startling rate. In the last two weeks alone the Rajoy government has announced one draft law and passed another that threaten to radically redraw the country’s system of law and order.
Read more...I’ve been fascinated lately with the meaning of the terms “liberal” and “progressive.” It’s clear that what we now call “liberalism” is really a variant, a side branch of the real thing, and should be more properly named “FDR liberalism” or “social liberalism.”
Read more...Get a cup of coffee while you settle down to watch this video of Nancy Fraser discussing the crisis as a joint problem of ecological, financial, and social systems.
Read more...It may seem a bit de trop to take on a Paul Krugman blog post yet again, but the reason for focusing on his post yesterday on the TransPacific Partnership is less for its substance and more as a political zeitgeist indicator.
Read more...Moyers describes how the social contract in America is being dismantled in order to further enrich what he calls a “mercenary class”.
Read more...To the extent that middle class and more affluent people think about poverty in America, they likely have blurry, partial images due to distance and lack of direct experience. Their remedies might include better education and training, higher minimum wages, more affordable housing.
New Scientist thinks otherwise. Its headline for a blistering editorial: Want to fix US inequality? Begin with worming tablets.
Read more...Last week, I was reading parts of a report issued by Japanese investment bank Nomura, which started out saying that the “Global Financial Crisis” is over. If I lay out a statement like that side by side with a lot of other things I see, I can only conclude that Nomura doesn’t reside in the same universe I do.
Read more...Wow, the gloves are finally coming off.
Read more...Yves here. Das continues his discussion of the impact of the erosion of trust (see here for Part I). Here he focuses on the political impact on international dealings and national politics.
Read more...“Success is relative” wrote T. S. Eliot in his play The Family Reunion, “It is what we can make of the mess we have made of things.” This is an apposite description of the current “success” in the EU. A financial and political disaster has been transformed into a permanent calamity.
Read more...Yves here. Das makes some statements in this post that I am certain will provide grist for reader discussion. But even if you quibble on some of the particulars, I anticipate you’ll agree on the extent of the damage done to trust at various levels of society and how costly it is proving to be.
Read more...Michael Hudson sent this short video which explains the history of debt jubilees and the role of private debt in the rise of oligarchies.
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