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thinkahol *

A Primer on Class Struggle | Common Dreams - 0 views

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    When we study Marx in my graduate social theory course, it never fails that at least one student will say (approximately), "Class struggle didn't escalate in the way Marx expected. In modern capitalist societies class struggle has disappeared. So isn't it clear that Marx was wrong and his ideas are of little value today?"
    I respond by challenging the premise that class struggle has disappeared. On the contrary, I say that class struggle is going on all the time in every major institution of society. One just has to learn how to recognize it.
    One needn't embrace the labor theory of value to understand that employers try to increase profits by keeping wages down and getting as much work as possible out of their employees. As the saying goes, every successful capitalist knows what a Marxist knows; they just apply the knowledge differently.
    Workers' desire for better pay and benefits, safe working conditions, and control over their own time puts them at odds with employers. Class struggle in this sense hasn't gone away. In fact, it's inherent in the relationship between capitalist employer and employee. What varies is how aggressively and overtly each side fights for its interests.
thinkahol *

Sen. Bernie Sanders: A Real Jaw Dropper at the Federal Reserve - 0 views

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    At a Senate Budget Committee hearing in 2009, I asked Fed Chairman Ben Bernanke to tell the American people the names of the financial institutions that received an unprecedented backdoor bailout from the Federal Reserve, how much they received, and the exact terms of this assistance. He refused. A year and a half later, as a result of an amendment that I was able to include in the Wall Street reform bill, we have begun to lift the veil of secrecy at the Fed, and the American people now have this information.
thinkahol *

Insider Trading: 'Steal A Lot, They Make You King' - 0 views

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    It feels perversely quaint that the national conversation is momentarily focused on the likelihood of insider trading cases dropping on a hive of nefarious and presumably well-connected individuals -- huge cases, we are told via breathless leaks from the federal cops on the beat, cases worth -- are you sitting down? -- tens of millions of dollars. With numbers like these, one can only imagine what's up next -- a crackdown on employees who brazenly pilfered office supplies from their jobs at publicly bailed-out institutions like Bank of America, perhaps?

thinkahol *

YouTube - 'Capitalism: A Love Story' DVD Extra - Harvard Professor Elizabeth Warren - 0 views

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    PREORDER THE 'CAPITALISM: A LOVE STORY' DVD: http://tinyurl.com/calsdvd    'Capitalism: A Love Story' DVD Extra - Harvard Professor Elizabeth Warren on How Wall Street Got Away with Murder    Extended interview with top TARP cop, Harvard Professor, Elizabeth Warren.  Shes sassy and real and tells it
thinkahol *

FT.com / Columnists / Martin Wolf - Current account targets are a way back to the future - 0 views

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    The debate on "global imbalances" has gone back to the future. The proposal from Tim Geithner, the US Treasury secretary, to target the current account takes us back to the preoccupations of John Maynard Keynes at the Bretton Woods conference of July 1944. Keynes, representing Britain, was obsessed with the dangers of asymmetric adjustment between surplus and deficit countries. The US, then the world's dominant surplus country, rebuffed calls for a mechanism that would impose pressure on both sides. Now the US is in the other camp.
thinkahol *

Economics Is Not A Morality Play - NYTimes.com - 1 views

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    War is bad, but sometimes spending is good.
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