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Capitalism Is the Problem

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  • Worker coops mark a qualitative and quantitative advance beyond capitalism. They represent a system change adequate to key problems capitalism has shown it cannot overcome, even after centuries of failed efforts to do so.
  • Related: Capitalism's war on climate science

Richard D. Wolff, Truthout  

http://www.truth-out.org/images/images_2017_01/2016.1.7.Wolff.main.JPGEmployees assemble synthesizers at Moog Music's production facility in downtown Asheville, North Carolina, June 9, 2015. Moog's new employee-ownership arrangement is more than just happy news for workers; it's a victory for the small company, whose financial success has not always matched its vast cultural impact. (Photo: Susannah Kay / The New York Times)

Saturday, January 07, 2017 Over the last century, capitalism has repeatedly revealed its worst tendencies: instability and inequality. Instances of instability include the Great Depression (1929-1941) and the Great Recession since 2008, plus eleven "downturns" in the US between those two global collapses. Each time, millions lost jobs, misery soared, poverty worsened and massive resources were wasted. Leaders promised that their "reforms" would prevent such instability from recurring. Those promises were not kept. Reforms did not work or did not endure. The system was, and remains, the problem.

Inequality likewise proved to be an inherent trend of capitalism. Only occasionally and temporarily did opposition from its victims stop or reverse it. Income and wealth inequalities have worsened in almost every capitalist country since at least the 1970s. Today we have returned to the huge 19th-century-sized gaps between the richest 1 percent and everyone else. Rescuing the "disappearing middle class" has become every aspiring politician's slogan. Extreme inequality infects all of society as corporations and the rich, to protect their positions, buy the politicians, mass media and other cultural forms that are for sale.

Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, where he taught economics from 1973 to 2008. He is currently a visiting professor in the Graduate Program in International Affairs of the New School University, New York City.

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Capitalism's war on climate science, James Plested, Red Flag / SocialistWorker.org

A system that puts profits above humanity can't address an existential threat to our future. 

Shocking Truth: This Is How Barack Obama Was Able To Prop Up The U.S. Economy

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  • A day of reckoning is fast approaching, and I am not sure if Donald Trump even realizes that he will soon be faced with some incredibly heartbreaking choices.
  • Related: Capitalism's war on climate science

Michael Snyder, The Economic Collapse / the Daily Sheeple

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December 5, 2016 | Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means.  In this article, I am going to share with you the primary reason why Barack Obama has been able to prop up the U.S. economy over the past eight years.  If Barack Obama had not taken the extreme measures that he did, we would be in the midst of a historic economic depression right now.  But by propping things up in the short-term, he has absolutely demolished our long-term economic future.  But like most politicians, Obama has been willing to sacrifice the future for short-term political gain.

If you take any basic college course in economics, you are going to learn about John Maynard Keynes.  Without a doubt, Keynes was one of the most famous economists of the 20th century, and one of the things that he believed was that governments should go into debt and spend more money when an economic downturn strikes.  By injecting additional funds into the economy during a time of crisis, he believed that the severity of recessions and depressions could be reduced.  This approach ultimately become known as “Keynesian economics”, and in the post-World War II era virtually the entire world embraced it at least to some degree.  Here is more on Keynes from Investopedia

Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream , The Truth and Economic Collapse Blog.

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Capitalism's war on climate science, James Plested, , Red Flag / SocialistWorker.org

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A system that puts profits above humanity can't address an existential threat to our future. 

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Capitalism's war on climate science

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A system that puts profits above humanity can't address an existential threat to our future. 

 

James Plested, Red Flag / SocialistWorker.org

 

Submitted by Evergreene Digest Contributing Editor John Stoltenberg 

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https://socialistworker.org/sites/default/files/imagecache/425/images/289704683_3dd8ca6d65_o.jpgMarch 1, 2017 | The Earth revolves around the sun. That was the simple proposition that resulted in 17th century Italian scientist and astronomer Galileo falling foul of Catholic authorities, who banned his works and placed him under permanent house arrest. The idea espoused by Galileo and other scientists was, according to a Papal Condemnation of June 1633, "formally heretical, because it is expressly contrary to Holy Scripture."

According to scripture, the earth was the center of the universe, and the sun, the moon and the planets all revolved around it. Anyone who dared to contradict this view was silenced. The authority of the church--the ideological "glue" that held together Italian society at the time and enabled its rulers to continue in their position of power and privilege--depended on it.

James Plested is a Melbourne writer, graphic designer and long-time leftist sports fan.

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The Hardening of Society and the Rise of Cultures of Cruelty in Neo-Fascist America

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  • There is more at work here than getting rid of Trump, there is a need to eliminate a system in which democracy is equated with capitalism, a system driven almost exclusively by financial interests, and beholden to two political parties that are hard wired into neoliberal savagery.
  • Related:'Spectacular Betrayal' as Trump Hands Economy 'Back Over to Wall Street'

Henry Giroux, Greanville Post

March 17, 2017 | Dark Times are truly upon us. There will be an acceleration of acts of violence under the Trump administration and the conditions for eliminating this new stage of state violence will mean not only understanding the roots of neo-fascism in the United States, but also eliminating the economic, political, and cultural forces that produced it.

There is more at work here than getting rid of Trump, there is a need to eliminate a system in which democracy is equated with capitalism, a system driven almost exclusively by financial interests, and beholden to two political parties that are hard wired into neoliberal savagery.

What does the culture of cruelty look like under a neo-fascist regime?

Henry Giroux currently holds the McMaster University Chair for Scholarship in the Public Interest in the English and Cultural Studies Department and a Distinguished Visiting Professorship at Ryerson University. His most recent books are America’s Education Deficit and the War on Youth (Monthly Review Press, 2013) and Neoliberalism’s War on Higher Education (Haymarket Press, 2014). 

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'Spectacular Betrayal' as Trump Hands Economy 'Back Over to Wall Street' Deirdre Fulton, Common Dreams

http://www.commondreams.org/sites/default/files/styles/cd_large/public/headlines/wall-st-flag.jpeg?itok=_L_cvE3UExecutive orders seen as "a cave-in to the power of Wall Street and the financial lobby." (Photo: Dave Center/flickr/cc)

  • "Wall Street titan Goldman Sachs seems to be taking over financial regulation in the United States, trying to make it easier for them and other big banks like Wells Fargo to steal from their customers and destabilize the economy." —Lisa Donner, Americans for Financial Reform
  • 'The Wall Street bankers against whom Trump ran are making policy now,' says Public Citizen
  • Related: Not So Spineless: Paul Ryan Plans To Use Trump’s Chaos To Destroy Medicare, Medicaid And Social Security

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