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thinkahol *

Look Out, Here Comes the 'Feral Underclass' - 1 views

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    Why this absence of political ambition? What explains the rioters' genuflection at the altar of "crude materialist, market-driven hedonism"? To zone in on the answer, we need to step back and remind ourselves how strikingly unequal distributions of income and wealth impact how we interact with "things." In relatively equal nations, societies where minor differences in income and wealth separate social classes, people typically do not obsess over "things," the baubles of modern life. The reason? If nearly everyone can afford much the same things, things overall tend to lose their significance. People in more equal societies will be more likely to judge you by who you are than what you own. The reverse, obviously, also holds true. "As inequality worsens," as Boston College economist Juliet Schor has explained, "the status game tends to intensify." The wider that gaps in income and wealth go, the greater the differences in the things that different classes can afford. In markedly unequal societies, things take on ever greater significance. They signal who has succeeded and who has not. In London, the developed world's most unequal city, these signals may dominate daily life as ferociously as anywhere else on Earth. Their incessant repetition drowns out the socially cohesive signals that people see and hear and feel in more equal societies, the sense that "we're all in this together." "Let this week be a wake up call," London's Compass think tank observed right after the heaviest rioting. "There is more to clean up than broken shop windows."
thinkahol *

Reading Marx's Capital with David Harvey » Blog Archive » Feral Capitalism Hi... - 1 views

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    But the problem is that we live in a society where capitalism itself has become rampantly feral. Feral politicians cheat on their expenses, feral bankers plunder the public purse for all its worth, CEOs, hedge fund operators and private equity geniuses loot the world of wealth, telephone and credit card companies load mysterious charges on everyone's bills, shopkeepers price gouge, and, at the drop of a hat swindlers and scam artists get to practice three-card monte right up into the highest echelons of the corporate and political world.
thinkahol *

Is Capitalism Doomed? - Nouriel Roubini - Project Syndicate - 1 views

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    Karl Marx was right, it seems, in arguing that globalization, financial intermediation run amok, and redistribution of income and wealth from labor to capital could lead capitalism to self-destruct. So what can be done to prevent that outcome?
thinkahol *

How to end this stock market madness - Wall Street - Salon.com - 0 views

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    The Dow Jones average suffered its latest calamitous decline on Thursday, plunging 419 points and erasing much of the progress that had been made after the last series of wild swings two weeks ago. There were many factors at work in Thursday's carnage, which came after markets in Asia and Europe experienced similar turmoil, but the overriding one seems to be this: Just about everyone now believes the U.S. economy is getting worse -- and no one thinks our leaders in Washington are about to do anything meaningful about it. So we thought it might be a good time to take a step back and consider the fundamental absurdity of the paralysis in Washington, where spending cuts and deficit reduction -- and not job creation -- have come to define and dominate the discussion. And who better to illustrate this than ... Robert Reich, playing the roles of both Professor Donald Right and Dr. Hugo Wrong in a one-man show that everyone on Capitol Hill really ought to check out:
thinkahol *

An Impeccable Disaster - NYTimes.com - 0 views

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    Financial turmoil in Europe is no longer a problem of small, peripheral economies like Greece. What's under way right now is a full-scale market run on the much larger economies of Spain and Italy. At this point countries in crisis account for about a third of the euro area's G.D.P., so the common European currency itself is under existential threat.
thinkahol *

Cheney Was Right About One Thing: Deficits Don't Matter | Truthout - 0 views

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    "De­ficit ter­ror­ists" are gutt­ing govern­ments and forc­ing the privatiza­tion of pub­lic as­sets, all in the name of "de­ficit re­duc­tion." But de­ficits aren't ac­tual­ly a bad thing. In today's moneta­ry scheme, in which most money comes from debt, debt and de­ficits are ac­tual­ly neces­sa­ry to have a st­able money sup­p­ly. The pub­lic debt is the peo­ple's money.
Giorgio Bertini

America's role in this Greek tragedy « Learning Political Economy - 0 views

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    Greece faces unacceptable conditions for a new bailout. If it defaults, the US had better be ready for the economic shock. The European authorities are playing a dangerous game of "chicken" with Greece right now. It is overdue for US members of Congress to exercise some oversight as to what our government's role is in this process, and how we might be preparing for a Greek debt default. Depending on how it happens, this default could have serious repercussions for the international financial system, the US economy and, indeed, the world economy.
thinkahol *

Crony Capitalism Comes Home - NYTimes.com - 0 views

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    So, yes, we face a threat to our capitalist system. But it's not coming from half-naked anarchists manning the barricades at Occupy Wall Street protests. Rather, it comes from pinstriped apologists for a financial system that glides along without enough of the discipline of failure and that produces soaring inequality, socialist bank bailouts and unaccountable executives. It's time to take the crony out of capitalism, right here at home.
Owen jailani

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Owen jailani

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yosefong

Are you're Asking Yourself, "Where Can I Find a Notary?" - 2 views

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started by yosefong on 29 May 12 no follow-up yet
clariene Austria

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clariene Austria

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clariene Austria

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Markus Potter

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Owen jailani

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