Fascism today: fear and loathing in America

by Jeff Shantz
Millions have lost jobs and others the prospect of finding jobs that pay a sustainable living wage or offer some financial security. Millions have seen savings vanish or pensions, deferred wages, decline or evaporate. Continue reading Fascism today: fear and loathing in America

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Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”

by Ismael Hossein-zadeh There is now a widespread consensus that mainstream/neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that … Continue reading Taking notes 41: Ideological foundations of neoclassical economics: class interests as “economic theory”

Class and need: Social surplus and Marxian theorization of development

by Anjan Chakrabarti We know that there have been two paths of development, paths that are not always considered complementary to one another. The first and still the dominant path would contemplate economic growth as the basic indicator of capturing the increase in standard of living (either measured as GDP per capita or GDP per worker) which represents development of a nation or region; thus poor and rich countries are differentiated in terms of, say, the level of GDP per capita and resultantly, the path to development of poor countries lie in expanding the latter as fast as possible. High … Continue reading Class and need: Social surplus and Marxian theorization of development

Taking notes 29: Abundance and Apocalypse

by Steven Miller Somewhere in the ‘90s, world production crossed the historic line into Economic Abundance. Humans now produce, through the global economy, so much wealth every year that it is no longer necessary for anyone to be impoverished. The UN has long held that the world produces enough food to end hunger forever; the problem is how it is distributed. This is essentially based on ability to pay. The reality of Economic Abundance is carefully censored and hidden, because it immediately raises the fact that people today have the capacity and the tools to — if they wished — … Continue reading Taking notes 29: Abundance and Apocalypse

America’s real ‘debt dilemma’

by Sandy Brian Hager (forthcoming) In the wake of the current crisis there has been an explosive rise in the level of the US public debt. These massive levels of public indebtedness are expected to keep growing unless there are drastic changes to existing budgetary policies. This apparent dilemma has sparked a debate over which groups should bear the burden of debt repayment and fiscal adjustment. However, one crucial question remains unasked: whose powerful interests are served by the public debt? America’s real ‘debt dilemma’ Every man and woman who owned a Government Bond, we believed, would serve as a … Continue reading America’s real ‘debt dilemma’

Taking notes 16: The rebellion has started

by Jeffrey Harrod Rebellions are special social events. They are special because once they start they never end and because they provoke other events which eventually change the world. The Indian Rebellion of 1857 against the British heralded the defeat of the British some 90 years and millions of Indian deaths later. The power of a rebellion is that it confronts the supporting images of power of its invincibility, of its claimed logic of superiority and of its absolute control of subordination. A tactical but failed rebellious challenge is eventually a strategic victory. In the global political economy the rule … Continue reading Taking notes 16: The rebellion has started

Insurgent democracy

by John Schwarzmantel This article has three aims: in the first place it seeks to offer some reflection on the role of political theory, and its relationship to what could simplistically be called events in the real world. Should political theory in the broadest sense be concerned with analysing and interpreting these events, or is it an exercise of a different kind, primarily concerned with the analysis of texts and with developing a specialised language of inquiry into such texts, whether historical or contemporary, that offer generalised reflection on concepts like power and authority, freedom and justice, to name only … Continue reading Insurgent democracy

The ‘suicidal state’ and the war on youth

by Henry A. Giroux In spite of being discredited by the economic recession of 2008, market fundamentalism has once again assumed primacy as a dominant force for producing unprecedented inequalities in wealth and income, runaway environmental devastation, egregious amounts of human suffering and what Alex Honneth has called an “abyss of failed sociality.”(1) The Gilded Age is back with big profits for the ultra-rich and large financial institutions and increasing impoverishment and misery for the middle and working class. Political illiteracy and religious fundamentalism have cornered the market on populist rage providing support for a country in which, as Robert … Continue reading The ‘suicidal state’ and the war on youth

Global economic justice

by Daniel Little My subject here is the role of ethical principles in the conduct of economic development planning and strategy. Bluntly, what does justice in development involve, and why should policy makers care? The field of “development ethics” has been around for at least fifty years, since the publications of Gunnar Myrdal (Myrdal, 1968). But it has received more focus and attention in the past thirty years, led by the brilliant work of Amartya Sen. Sen has many qualifications for theorizing about the ethics of development. He is a Nobel prize winning economist, he is an Asian by birth, … Continue reading Global economic justice