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Pavel Constantin | Corruption / media.cagle.com

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It's simple. If we can't change our economic system, our number's up.

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'The mother narrative to all this is carbon-fuelled expansion. Our ideologies are mere subplots.' Photograph: Alamy

 

  • It's the great taboo of our age – and the inability to discuss the pursuit of perpetual growth will prove humanity's undoing
  • Related: Capitalism Is the Problem

George Monbiot, the Guardian

 

 

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Tuesday, 27 May 2014 | Let us imagine that in 3030BC the total possessions of the people of Egypt filled one cubic metre. Let us propose that these possessions grew by 4.5% a year. How big would that stash have been by the Battle of Actium in 30BC? This is the calculation performed by the investment banker Jeremy Grantham.

Go on, take a guess. Ten times the size of the pyramids? All the sand in the Sahara? The Atlantic ocean? The volume of the planet? A little more? It's 2.5 billion billion solar systems. It does not take you long, pondering this outcome, to reach the paradoxical position that salvation lies in collapse.

https://i.guim.co.uk/img/static/sys-images/Guardian/Pix/contributor/2015/7/9/1436429159376/George-Monbiot-L.png?w=300&q=55&auto=format&usm=12&fit=max&s=6c9adff6f7456e3cfc723449d74c95bbGeorge Monbiot is an English writer, known for his environmental and political activism. He is the author of the bestselling books The Age of Consent: A Manifesto for a New World Order and Captive State: The Corporate Takeover of Britain.

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Capitalism Is the Problem, Richard D. Wolff, Truthout <> 

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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

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Study by MIT Economist: US Has Regressed to a Third-World Nation for Most of Its Citizens

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“Collapse” by Erica Woodson

A new book by economist Peter Temin finds that the U.S. is no longer one country, but dividing into two separate economic and political worlds

Lynn Parramore, Institute For New Economic Thinking / The Intellectualist

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April 20, 2017 | You’ve probably heard the news that the celebrated post-WW II beating heart of America known as the middle class has gone from “burdened,” to “squeezed” to “dying.”  But you might have heard less about what exactly is emerging in its place.

In a new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, Peter Temin, Professor Emeritus of Economics at MIT, draws a portrait of the new reality in a way that is frighteningly, indelibly clear:  America is not one country anymore. It is becoming two, each with vastly different resources, expectations, and fates.

Lynn Parramore, Senior Research Analyst, Institute For New Economic Thinking 

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From the Archives | New Figures Detail Depth Of Unemployment Misery, Lower Earnings For All But Super Wealthy, Huffington Post

  • Those Americans earning more than $50 million increased their income from an average of $91.2 million in 2008 to almost $519 million. That's nearly $10 million in weekly pay!These 74 people made as much as the 19 million lowest-paid people in America, who constitute one in every eight workers."
  • September Jobs Report Reveals America’s Emerging Third World Economy

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Section(s): 

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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