Tag: capitalism

When the history of the early 21st century is written, we can only hope that Henry Paulson, America’s Secretary of the Treasury, will receive the praise he deserves for his role in hastening the collapse of capitalism.  While Rosa Luxemburg will always be remembered for her brilliance and courage, and Che Guevara for his daring and love for the people, Henry “Hank” Paulson will never be forgotten because of his incredible cunning in service of the revolution.



Paulson’s cover for his incredible mission was established by fate.  He was born into a bourgeoisie family in the famous luxury resort of Palm Beach.  They later moved with little Hank to the wealthy Chicago suburb of Barrington Hills, Illnois.  From there, he proceeded to check all the necessary boxes and jump through all the required hoops to join the American ruling class: an undergraduate degree from Dartmouth and a M.B.A. from Harvard Business School.

Wheeee!!!

It’s been an interesting few weeks, actually maybe a few months, although the storm has been brewing for quite a while.  Bear Stearns was just a precuser, wasn’t it?  So, what to make of where we are today?

Original Article, sub-headed After seven days of bloody war in the Caucasus and growing tension between the US and Russia, John Rees asks what is it about the new world order that has made it so prone to warfare?, via socialistworker.org.uk:

There is one fundamental thing that is common to capitalism in every age that makes it a uniquely violent system. It is not a marginal or accidental part of the system but something that is part of the very definition of capitalist society. That thing is competition.

Uh-oh!  Competition being bashed…must restrain from shouting ‘USA, USA, USA.’  After all, isn’t our competitive spirit what made us greater than everybody else?  Isn’t competition what makes our ‘free market’ system of capitalism work so well?

Original article by Mick Brooks via Socialist Appeal.

Hedge funds are in the news again. They don’t much like being in the public gaze. We wonder why. Does their speculation cause prices to go up? Do they drive firms into bankruptcy so workers lose their jobs? These are the questions being asked. Let’s see what they get up to.

John Edward’s favorite financial instrument is quite complicated.  Mick Brooks looks at hedge funds and how they impact our lives.

Original article, and editorial/news release, vial Socialist Appeal:

On Wednesday 20th August up to 150,000 public sector workers in Scotland will be taking unified action on pay. GMB, UNISON and Unite members will all be on strike because local government workers have been offered a measly 2.5% a year deal over three years. This after the Cost and Price Index published last week shows the cost of living going up by 4.4%. This sudden jump has called the government’s bluff. Everybody knows the CPI doesn’t reflect the real increase in prices we face.

Here in Indiana, our public sector workers aren’t officially able to collective bargain.  It’s up to the whim of the governor if they’re allowed to (I belive they were able to for a bit before Mitch became governor, but he took it away from them).  Indiana, home to Eugene Debbs, Mother Jones and other great labor leaders, is a right to work state.

Original article, a republishing of James Connolly’s collection by this name, via marxist.net.

This is a rhetorical critique of the anthology Ecosocialism or Barbarism, edited by Jane Kelly and Sheila Malone, an introductory text in ecosocialist thought apparently meant for European audiences.  In it, I suggest that its main problem is that it skimps upon the presentation needed to anticipate objections to its main arguments, and so I suggest amendments here.

(crossposted on Big Orange)

This is a new review of Bill McKibben’s book of last year, Deep Economy, from a critical-theory perspective; it’s informed by a fair reading of McKibben’s opus, observance of a recent speaking appearance by the author, and a reading of his DKos diaries.

There are a lot of citations of Bill McKibben on DKos; kudos to hof1991 for an oh-so-brief review, and to Gmoke for his 350 ppm or bust diary.  And of course to Bill McKibben himself.

posted on Flickr by lollyknit

This diary was suggested by two recent pieces on abrupt climate change: Joseph Romm’s piece on Salon.com (The cold truth about climate change), and a paper in the journal Risk Analysis which was seized upon by columnist John Tierney in a column for the New York Times: “Global Warming Paradox”?  I discuss these articles in order to suggest that there is a general state of denial as regards the social and economic causes of abrupt climate change, thus to suggest that therein lies the discovery of social and economic solutions.

(crossposted at Big Orange)

Derek Wall, via his blog.

The rough beast that is George W. Bush–gaze blank and pitiless as the sun–is today slouching towards the continent of Africa, pronouncing “paternalism [] a thing of the past,” and decreeing that henceforth the peoples of Africa must, for the greater good of global capital, be pitchforked into The New World Order. For Africa, so sayeth the beast, “joint venturing with good, capable people is what the future is all about.”

Fantastically, the people who put the words into George II’s mouth have, with the text of his African address, admitted that the interests of the people of Africa must be subsumed in those of global capital (headquartered, natch, in the USA). They are echoing, in Bushspeak, what the exiled Kenyan writer Ngugi wa Thiong’o so artfully expressed two years ago in his work The Wizard of the Crow.

Side-by-side comparisons of the words of the wizard, and of the beast, below the divide.