Marx2

Abbreviated summary:  The financial collapse of 2008 demonstrated the emptiness of the claim that markets could regulate themselves. It should have led to the disgrace of neoliberalism—the belief that unregulated markets produce and distribute goods and services more efficiently than regulated ones. Instead, the old order reasserted itself. In the United States, the bipartisan financial elite escaped largely unscathed. Barack Obama, whose campaign benefited from the timing of the collapse, hired the architects of the Clinton-era deregulation who had created the conditions that led to the crisis. Far from breaking…read more

(short version) The west used to provide aid, taking capital to workers and building social stability in developing nations; now, after America’s destabilising “war on terror”, workers are forced to leave home for capital-rich countries, as refugees or migrant labour. “In the pre-9/11 period, there was a Development Aid System (DAS) of transferring capital from rich to poor countries to encourage economic and social transformation. It was designed to take capital to labour. Its effect was to retain labour in its own environment. Now, it is a system that has…read more

by Bo Rothstein in Social Europe “The political left has historically had several ideas that, one might dare claim, were not particularly well thought out. For example, the idea of ​the centrally planned economy. One reason for these, sometimes monstrous, failures is a reluctance to take the implementation process into account and think through how the policies will actually work when they meet reality and with what consequences.

“A new financial storm is hence approaching Greece” – After the ECB regulator tightening on banks’ non-performing loans (NPLs), announced on October 5, a barrage of anger came from the Italian banks and institutions to defend the threatened stability of the Italian banking system.