Trumponomics and Wall Street Rejoices (tags)
Economics should be a part of life, not a steamroller crushing creativity and self-determination. The state should serve the public interest and reduce poverty. Trumponomics is a disaster. The poor, seniors, children and students are under a vicious attack.
Criticism of Market Theory and Market Ideology (tags)
Market fundamentalists cling to the myths of the self-healing market and corporate beneficence..The real market economy functions very differently than the fantastic notions of the theoretical market economy. Maximum individual profit does not agree with social welfare.
The new indebtedness is a consequence of the crisis caused by the financial industry-and in no way owed to an excessive social state, demographic change and so forth.. There are many critics of this policy of mastering crisis by flooding the financial markets with fresh money.
Criticism of Market Theory and Market Ideology (tags)
Market fundamentalists cling to the myths of the self-healing market and corporate beneficence..The real market economy functions very differently than the fantastic notions of the theoretical market economy. Maximum individual profit does not agree with social welfare.
New Economic Thinking - Turning Away from the Market Fetish (tags)
"New economic thinking" rejects the view of the person as "homo oeconomicus" reduced to maximization of individual benefits and offers a more comprehensive and realistic concept in which justice, norms, routines and emotions appear. "Homo recipocans" is an alternative.
Critical thinking and cultural shock have the power to turn the world upside down (like Jesus' parables and zen koans). Trivializing structural/systemic economic problems as motivational, psychological, bumps in the road or industrial accidents is a perversion.
Video: Understanding the Financial Crisis (tags)
Distorted incentives drove the failure of risk management. There was an evaporization of trust in 2008. In September, Lehmann Brothers and AIG went bankrupt.
The U.S. is More Greek than Greece (tags)
Deficit economies were organized mainly by finance capital. The expansion of this credit-financed mass demand went along with the expansion of the financial sector. Trillions of dollars and Euros were pumped in the stabilization of financial markets.
The Banking and Financial Crisis (tags)
"The transition from a long-term to a short-term orientation went along with the exaggerated profit goals. The approach of shareholder value sets maximum profits and dividends in the center of business policy and no longer long-term investments and the interests of employees.."
Greenspan and the Guilt of Others (tags)
Before the committee, Greenspan immediately went on the offensive (cf. Creole trick). The irresponsible loans of banks caused the crisis, not the low interest of the Fed. The Fed failed in regulating the banks because its employees were not neutral.
Tribunal for Speculators (tags)
The collapse of the delusional neoliberal idea frees our view for the necessity of a completely different society and a planetary social contract. Bankers are jungle highwaymen. Investments only pay where human rights are realized. The price of rice soared 83% within only six months.