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The Ravine / Joseph Dunphy

Student Debts, Stunted Lives | | AlterNet - 0 views

www.alternet.org/...33861

poverty opportunity job market

shared by The Ravine / Joseph Dunphy on 28 Mar 09 - Cached
  • The Ravine / Joseph Dunphy on 28 Mar 09
     
    A thought to keep in mind as you read this - what happens to the already overburdened graduate whose job gets outsourced, and then can't find another because he's deemed "overqualified" for the low skilled, low wage jobs available? Answer: Look up "capitalization of interest" and then note that one can't erase student loan debt by declaring bankruptcy. What will result will be the mathematical equivalent of charging compound interest on a loan that the graduate has been deprived of the means of repaying.
Muslim Academy

The Silsilah Dialogue Movement Muslim Coordinator - Prof. Alzad Sattar - 0 views

muslim-academy.com/-coordinator-prof-alzad-sattar

Prof. Alzad Sattar Silsilah Dialogue Movement Muslim Coordinator Silsilah Dialogue Movement

shared by Muslim Academy on 04 Sep 12 - No Cached
  • Muslim Academy on 04 Sep 12
     
    The Silsilah Dialogue Movement is a Filipino movement in Mindanao that aims to unite Christians and Muslims, as well as other people of different religion and faith. Prof. Alzad Sattar is proud to be a member and Muslim coordinator of the Inter-faith Council of Leaders in Basilan. He took up Political Science in Basilan State College and had his Masters Degree in the University of the Philippines. He became a professor in Basilan State College since 1996. Presently, he is the Assistant Dean of Academic Support and Services and Dean of the College of Islamic Studies. He is also an active participant and member of non-government organizations that promote peace and harmony like the Silsilah Dialogue Movement. As a child born in the city of Basilan, he believes that this place is very beautiful. Despite of this harmonious scenery with its natural white beach and sea resources, for him, Basilan has a large diversity when it comes to cultures and religions between the people living in this paradise. He hopes that someday this diversity would surpass through the help of the Dialogue. The following are some excerpts and inspiring keys mentioned by Prof. Alzad Sattar in an interview in the Silsilah Dialogue Movement: What was the impact of Silsilah Dialogue Movement to you as person? Prof Sattar: Silsilah actually transformed a lot in me as a person. I remember in the past, I had biases and prejudices against Christians because of a lot of factors. Number one factor is the orientations that I had, that Christians are like this and that and the second factor was the situation that I had experienced. I was born during the Martial law and at that time, many of my relatives died. The people who killed them are the Philippine soldiers who happened to be Christians. This contributed to my perception about the Christians. One factor that also contributed in my biases is the books I read. Like what I said, I was a PolSci graduate and because of that I rea
Sarah Eeee

Income Inequality and the 'Superstar Effect' - NYTimes.com - 0 views

www.nytimes.com/...26excerpt.html

inequality capitalism economics

shared by Sarah Eeee on 27 Dec 10 - No Cached
  • Yet the increasingly outsize rewards accruing to the nation’s elite clutch of superstars threaten to gum up this incentive mechanism. If only a very lucky few can aspire to a big reward, most workers are likely to conclude that it is not worth the effort to try.
  • It is true that the nation grew quite fast as inequality soared over the last three decades. Since 1980, the country’s gross domestic product per person has increased about 69 percent, even as the share of income accruing to the richest 1 percent of the population jumped to 36 percent from 22 percent. But the economy grew even faster — 83 percent per capita — from 1951 to 1980, when inequality declined when measured as the share of national income going to the very top of the population.
  • The cost for this tonic seems to be a drastic decline in Americans’ economic mobility. Since 1980, the weekly wage of the average worker on the factory floor has increased little more than 3 percent, after inflation. The United States is the rich country with the most skewed income distribution. According to the Organization for Economic Cooperation and Development, the average earnings of the richest 10 percent of Americans are 16 times those for the 10 percent at the bottom of the pile. That compares with a multiple of 8 in Britain and 5 in Sweden.
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  • Not coincidentally, Americans are less economically mobile than people in other developed countries. There is a 42 percent chance that the son of an American man in the bottom fifth of the income distribution will be stuck in the same economic slot. The equivalent odds for a British man are 30 percent, and 25 percent for a Swede.
  • Just as technology gave pop stars a bigger fan base that could buy their CDs, download their singles and snap up their concert tickets, the combination of information technology and deregulation gave bankers an unprecedented opportunity to reap huge rewards. Investors piled into the top-rated funds that generated the highest returns. Rewards flowed in abundance to the most “productive” financiers, those that took the bigger risks and generated the biggest profits. Finance wasn’t always so richly paid. Financiers had a great time in the early decades of the 20th century: from 1909 to the mid-1930s, they typically made about 50 percent to 60 percent more than workers in other industries. But the stock market collapse of 1929 and the Great Depression changed all that. In 1934, corporate profits in the financial sector shrank to $236 million, one-eighth what they were five years earlier. Wages followed. From 1950 through about 1980, bankers and insurers made only 10 percent more than workers outside of finance, on average.
  • Then, in the 1980s, the Reagan administration unleashed a surge of deregulation. By 1999, the Glass-Steagall Act lay repealed. Banks could commingle with insurance companies at will. Ceilings on interest rates vanished. Banks could open branches anywhere. Unsurprisingly, the most highly educated returned to banking and finance. By 2005, the share of workers in the finance industry with a college education exceeded that of other industries by nearly 20 percentage points. By 2006, pay in the financial sector was again 70 percent higher than wages elsewhere in the private sector. A third of the 2009 Princeton graduates who got jobs after graduation went into finance; 6.3 percent took jobs in government.
  • Then the financial industry blew up, taking out a good chunk of the world economy. Finance will not be tamed by tweaking the way bankers are paid. But bankers’ pay could be structured to discourage wanton risk taking
  • Sarah Eeee on 27 Dec 10
     
    (Part 2 of 2 - see first part below) What impact do the incredible salaries of superstars have on the rest of us? What has changed, technologically and socially, to precipitate these inequities? This article also offers a brief look at the relationship between income inequality and economic growth, comparing the US throughout its history and the US vis a vis several European countries.
thinkahol *

A Primer on Class Struggle | Common Dreams - 0 views

www.commondreams.org/...31-4

A Primer on Class Struggle | Common Dreams

shared by thinkahol * on 31 Mar 11 - No Cached
  • thinkahol * on 31 Mar 11
     
    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.
Arabica Robusta

West 86th - The Administration of Things: A Genealogy - 0 views

www.west86th.bgc.bard.edu/...-administration-of-things.html

political theory

shared by Arabica Robusta on 03 Sep 12 - No Cached
  • “If men never disagreed about the ends of life, if our ancestors had remained undisturbed in the Garden of Eden, the studies to which the Chichele Chair of Social and Political Theory is dedicated could scarcely have been conceived,” Isaiah Berlin told his audience at Oxford when he assumed that position in 1958. Philosophy was at its best when it was being contentious, especially when it was being contentious about the meaning and purpose of our common existence. Too much agreement was an abdication of its ethical responsibility
  • The task of philosophy was not to settle disputes, but to unsettle them, to encourage them, to keep them going. For it was only through disputation that we could resist the rule of experts and machines, the bureaucratic-technocratic society foretold by Saint-Simon and championed by Marx and Engels, a society in which we replace the “government of persons by the administration of things.”
  • Louis de Bonald pointed to the hard choices that the state would have to make. “In the modern state, we have perfected the administration of things at the expense of the administration of men, and we are far more preoccupied with the material than the moral,” he wrote. “Few governments nurture religion or morality with the same attention that they promote commerce, open communications, keep track of accounts, provide the people with pleasures, etc.” 12
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  • All history, Comte argued, is a history of class struggle. Not the struggle between master and slave, lord and serf, bourgeois and proletarian—that was still a couple decades away—but the struggle between two classes of phenomena: “critical” phenomena that contributed to moral and political decay and “organic” phenomena that promoted individual and social regeneration.
  • The objective was to protect against arbitrariness in all of its manifestation. Earlier political thinkers had tended to associate arbitrariness mainly with absolutist governments, but for Comte any form of government was susceptible so long as it rested on “metaphysical” rather than “positive” principles.
  • Engels believed that the obsession with detail that had characterized utopian socialism—its compulsion to work out every last aspect of future social organization—is precisely what made it so utopian.
  • When, at last, it becomes the real representative of the whole of society, it renders itself unnecessary. As soon as there is no longer any social class to be held in subjection; as soon as class rule, and the individual struggle for existence based upon our present anarchy in production, with the collisions and excesses arising from these, are removed, nothing more remains to be repressed, and a special repressive force, a State, is no longer necessary.
  • “I think it was Trotsky who used a very plain but very telling metaphor,” the historian Isaac Deutscher told graduate students in a seminar on bureaucracy at the London School of Economics in 1960. “The policeman can use his baton either for regulating traffic or for dispersing a demonstration of strikers or unemployed. In this one sentence is summed up the classical distinction between administration of things and administration of men.”
  • Our hasty genealogy of the “administration of things” must conclude with its latest, and quite possibly last, iteration: Bruno Latour’s “Parliament of Things,” or Dingpolitik. Initially proposed in his book We Have Never Been Modern (1991), then extended in a massive exhibition and accompanying catalog, Making Things Public (2005), Latour’s program has attracted a growing number of partisans in the world of political theory
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