The US, the Debt Superpower (tags)
The state bailout of these gigantic real estate institutes, banks and insurances and the enormous economic package to get the crisis-weakened economy on its feet again is one of the essential causes of the present debt crisis. In two decades, $5.5 trillion was spent on a dozen wars.
The financial crisis became an economic crisis and mutated into a state budget crisis when trillions were given to "system relevant" banks and private losses became public burdens. What is Plan B?How can the financial sector be shriveled? Can state banks (like NDakota) be a model?
The End of the "Golden Age" of Capitalism and the Rise of Neoliberalism (tags)
"The central point is that the financial sphere has the potential of developing into an autonomous subsystem of the whole economy with an enormous capacity of self-expansion..Like cancer, it has no internal control mechanism. It can only be brought under control by external interventions"
The High Risk Business of Banks (tags)
The model of financial market capitalism collapsed with the greatest crisis of the financial markets since the worldwide economic crisis at the end of the 20s. The enormous accumulation of financial assets was based on redistribution of incomes continuing for 30 years.
Profits=Investments=Jobs? (tags)
The claimed connection between profits, investments and jobs is not right. Orders-literally demand-are more important than the profits that are investede for the creation of jobs. Market radicals repress market and system failure.
How Neoliberal Ideology Destabilized the World Balance: Krugman and Galbraith (tags)
"If the depression has not openly erupted, all the features of the 1930s are having a spectacular comeback." (Paul Krugman) To free the US from the claws of private interests, James Galbraith urges the public authority to set social and ecological norms.
Last Dance for Capitalism (tags)
Capitalism reaches its inner limit and strangulates itself and the environment. Increasingly effective measures lead to fewer and fewer workers producing ever-greater quantities. The real economy becomes an appendage of speculation bubbles.
VIDEO: Noam Chomsky and Friends at the UN (tags)
This panel took place on June 23, 2009.
Development Theory: Ivan Illich (tags)
Education is the great transformer (J.K. Galbraith). Ivan Illich was a life-giving iconoclast and philosopher who criticized modern industrial society as a threat to autonomy. Through resistance and solidarity, we can begin again.
Satiation or Two Limits of Growth: John Maynard Keynes (tags)
"The first great economic crisis of the 21st century marks the end of a failed political-economic experiment..The past 30 years of redistribution from bottom to top were a glistening epoch for the owners of capital.."
The Crisis of Capitalism: Credit-Doping (tags)
"The social market economy blows the wealth of this society in speculation rather than in higher wages, higher pensions or unemployment benefits.. All capital transactions with tax havens should be prohibited.. Instead of democratization, we growing centralization in a few hands.."
2009 Preliminary Report of the Stiglitz Commission (tags)
This 109-page document is available in pdf-format.