Capitalism Can Be Cured (tags)
"The Occupy movement protests worldwide against the power of banks. The Indignados in Spain demonstrate against the system that gives them this crisis and high unemployment. No saying has been criticized more vigorously than Margaret Thatcher's `there is no alternative'."
In the Towrope of the Financial Markets (tags)
"High growth has a well-known hook. Surpluses are only possible when natural resources from clear water to rare earth are available, when the energy supply is guaranteed and when the pollutant sinks are sufficient.. The debtors are now those states that had to become indebted.."
Bankers, Hear the Signals! (tags)
The people may freely elect their governors. But the game ends whenever they want to force a redistribution of social wealth-even if the economic system only functions with redistribution. Democracy is social action, not a gift or a state (of rest).
Medrciless Samaritans and 10 Causes of the Crisis (tags)
"There is no society. There are only individual men and women," said Margaret Thatcher. Margaret Thatcher, the former British Prime Minister, had a great share in the crisis in which Europe, capitalism and democracy find themselves.
To give a credit to a customer, a bank doesn't need to take the savings of another cutomer from its vaults. It creates the money out of nothing. In a countermove, the bank must deposit money with the central bank. There is a debate whether the creation of money can be left to the banks.
The Autism of Economists (tags)
Analogous to a mechanical system, neoclassicists understood the economy as a perpetual cycle of production and consumption kept in balance by the price mechanism.
The Error is in the System (tags)
The financial crisis mutated into a global economic crisis and a state debt crisis. The financial crisis was not a "bump in the road" or an industrial accident but a systemic and structural crisis that caused $11 trillion of wealth to vanish while millions lost their jobs. homes and pension
The Invisible Hand Doesn't Help Any More (tags)
Neoclassicism starts from the assumpti8ons that people always act rationally and market processes always lead to optimal results on account of the price mechanism. The market fails. Its view of the person as Homo oeconomicus must be replaced by the Homo cooperativus.
From Protest Camp to General Strike (tags)
Something crucial happened in the US in 2011. The strengthening of the Occupy movement, first on Wall Street and then in hundreds of American cities, is celebrated as the revival of the revolutionary middle class. The movement in the US seems two steps ahead.