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Author Topic: If not Capitalism... then What? And, How?  (Read 71794 times)

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #700 on: October 29, 2018, 04:31:32 AM »
When the return on investment is so huge, how can we control markets in politicians ?

"firms lobbying for this provision have a return in excess of $220 for every $1 spent on lobbying, or 22,000%"

Even the mob doesn't get that kinda vigorish.

open access.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1375082

sidd

Sigmetnow

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Re: If not Capitalism... then What? And, How?
« Reply #701 on: October 30, 2018, 03:16:13 PM »
Things can change:

Why NYU is making its medical school tuition-free
NYU announced in August it would be covering tuition for all of its medical students
https://www.marketwatch.com/story/why-nyu-is-making-its-medical-school-tuition-free-2018-10-30
People who say it cannot be done should not interrupt those who are doing it.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #702 on: November 01, 2018, 07:39:04 AM »
This strikes me as a seriously bad idea: Fed to loosen rules on banks under 700B US$ assets:

I remember the savings and loan thing, when precisely these smaller banks went hog wild. Black put almost a thousand bankers in jail back then, in the day when bankers actually went to jail.

https://thehill.com/policy/finance/414105-fed-releases-plan-to-loosen-rules-for-major-us-banks

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #703 on: November 04, 2018, 12:29:55 PM »
https://www.greanvillepost.com/2018/11/03/a-sound-ecological-policy-cannot-be-achieved-within-a-capitalist-framework/
We share this planet; we do not own it.
WHAT HAVE YOU DONE TO HELP THE PLANET TODAY?
Victor Wallis: It was not widely covered in the corporate media, but there was very good coverage on the independent Democracy Now! program, whose host, Amy Goodman, spent a week in and around Bonn during the recent international conference, and visited some of the occupiers in their tree-houses. Singer/songwriter David Rovics has just now posted a tribute, in narrative and song, to the forest-protectors and to the journalist Steffen Meyn who died tragically while attempting to cover their story.

CS: How do you characterize the struggle? Are there decisive similarities with, for example, the battles against oil pipelines in North America?

VW: It is a classic case of confrontation between a big corporation and people trying to save a priceless ecosystem. There is a definite parallel with the clashes in North America, including especially the more recent battle over the Dakota Access Pipeline, in which government forces intervened decisively on the side of the corporation.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #704 on: November 06, 2018, 08:10:33 AM »
Capitalism in action: markets in information about you. But, unfortunately, you cant participate, except as product. The Koch brothers are buying and selling.

https://www.salon.com/2018/11/05/koch-brothers-are-watching-you-and-new-documents-expose-how-much-they-know/

sidd



AbruptSLR

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Re: If not Capitalism... then What? And, How?
« Reply #705 on: November 11, 2018, 07:59:53 PM »
The Finance Curse: How the City of London screws the nation and the world:
….

Interesting information about the role of Britain and the City of London in international finance:

Title: "The Spider's Web: Britain's Second Empire (Documentary)"



Extract: "At the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions and Britain and its dependencies are the largest global players in the world of international finance."

See also:

Title: "Lord Mayor of London"

https://en.wikipedia.org/wiki/Lord_Mayor_of_London

Extract: "The office of Mayor was instituted in 1189, the first holder of the office being Henry Fitz-Ailwin de Londonestone. The Mayor of the City of London has been elected by the City, rather than appointed by the Sovereign, ever since a Royal Charter providing for a Mayor was issued by King John in 1215. The title "Lord Mayor" came to be used after 1354, when it was granted to Thomas Legge (then serving his second of two terms) by King Edward III."
“It is not the strongest or the most intelligent who will survive but those who can best manage change.”
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TerryM

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Re: If not Capitalism... then What? And, How?
« Reply #706 on: November 12, 2018, 06:25:25 AM »
Capitalism in action: markets in information about you. But, unfortunately, you cant participate, except as product. The Koch brothers are buying and selling.

https://www.salon.com/2018/11/05/koch-brothers-are-watching-you-and-new-documents-expose-how-much-they-know/

sidd
sidd
Your link illustrates the problems that I'm seeing integrating democracy with the computer age.


The Koch Brothers aren't the only ones possessing this technology, Cambridge Analytica and a thousand clones we never heard of have rendered the whole concept of participatory democracy as dated as piloting a Stanley Steamer on the autobahn.


We've discussed transitioning to a post capitalist society. Perhaps it's time to discuss transitioning to a post democratic society?
Terry


sidd

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Re: If not Capitalism... then What? And, How?
« Reply #707 on: November 12, 2018, 06:51:46 AM »
Re: "integrating democracy with the computer age. "

Wait, what ? Democracy was long ago defined as the rule of the mob, and the net is a good example. As usual, the only thing that changes is who pays the demagogues. And that, not much.

Re:"aren't the only ones possessing this technology"

Larry Ellison said a long time ago that privacy was over, get over it. That was true then and becomes truer by the day. I am aware of at least two dozen large commercial data providers  who provide integrated data dumps on any individual you care to name dead or alive, worldwide, given rudimentary initial data. Not to speak of the state level databases, or criminal actors. All are accessible for the right price. Why do you think Google has a China plan ? That data is irresistible.

One has to jump thru so many hoops to maintain any level of privacy, it's just ridiculous. I am fortunate in that i am quite familiar with the internet and know the many, many steps involved. But Joe Blow on the street only has a slight understanding of the many ways his behaviour is sliced and diced and bought and sold, and is too busy surviving to care.

Re: "post capitalist, post democratic society"

How about "post information society ?" Get off the damn net. Talk to your neighbours forachange.

sidd



vox_mundi

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Re: If not Capitalism... then What? And, How?
« Reply #708 on: November 26, 2018, 09:43:55 PM »
The Tragedy of the Commons -- Minus the Tragedy
https://www.eurekalert.org/pub_releases/2018-11/osu-tto112118.php

People Can Sustainably Share Resources, Under Some Conditions.

Sometimes, there is no "tragedy" in the tragedy of the commons, according to a new analysis that challenges a widely accepted theory.


Scientists have long believed that when there is open access to a shared resource, people will inevitably overuse it, leading to ruin for everyone - an idea known as the "tragedy of the commons."



But in an analysis of eight case studies from around the world - from foragers in Australia to mangrove fishers in Ecuador - researchers found that people can successfully share and sustainably use resources, under certain conditions.
Quote
... "We've been blinded by the theoretical models. Using a new approach has helped us see from a different perspective."
The paper was published today (11-26-18) in the Proceedings of the National Academy of Sciences.

In the PNAS paper, Moritz and his colleagues compared the cases they knew, which have been studied ethnographically for decades and for which they had long-term social and ecological data.

They found that the successful case studies worked as complex adaptive systems, where interactions between social and ecological processes lead to sustainable outcomes.

Successful systems were self-organizing, resulting in efficient, equitable and sustainable resource use.


"There is no central decision making or collective decision making about resource use. Individual users decide when and where to move or harvest resources. The system self-organizes so that the distribution of resources matches the distribution of the users," Moritz said.

The researchers found that to avoid the tragedy of the commons, people have to use the environmental resources appropriately. In Cameroon, that means pastoralists move their cattle in response to seasonal rains that bring the grasses on which their animals feed.

"The inappropriate way to use the resources would be to put up a fence and keep the animals there throughout the year, even during periods when there is no rain and the grass isn't growing," Moritz said.

That's why freedom of movement is one of the key conditions necessary to successfully share resources. Other necessary conditions include low population densities, low market value of the resources, variability in resource distribution and an ethos of sharing.

Mark Moritz el al., "Emergent sustainability in open property regimes," PNAS (2018).



« Last Edit: November 26, 2018, 09:59:11 PM by vox_mundi »
“There are three classes of people: those who see. Those who see when they are shown. Those who do not see.” ― Leonardo da Vinci

Insensible before the wave so soon released by callous fate. Affected most, they understand the least, and understanding, when it comes, invariably arrives too late

wili

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Re: If not Capitalism... then What? And, How?
« Reply #709 on: November 26, 2018, 10:23:23 PM »
Thanks, as always, for this, vox. There have been various challenges to the most simplistic interpretations of the Tragedy of the Commons. It is a very abstract model, assuming humans are each isolated greed machines. It ignored many glaringly obvious historical counter examples, including the actual commons that are in the title of the theory.

Professor Elinor Ostrom devoted much of her career to investigating current examples of what conditions are most and least likely to bring about a Tragedy of Commons type of negative result. Good to hear that others are continuing this kind of important work.
"A force de chercher de bonnes raisons, on en trouve; on les dit; et après on y tient, non pas tant parce qu'elles sont bonnes que pour ne pas se démentir." Choderlos de Laclos "You struggle to come up with some valid reasons, then cling to them, not because they're good, but just to not back down."

Sigmetnow

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Re: If not Capitalism... then What? And, How?
« Reply #710 on: December 01, 2018, 08:00:57 PM »
Robert Reich:

“Elizabeth Warren gave one of the most important foreign-policy speeches in recent memory yesterday. It wasn't just a rebuke of Trump and the Republicans but also of the  Democratic Party over the last decades, especially the so-called “Washington consensus” about the wonders of free-market capitalism. Here’s the critical paragraph:

"Washington had it all figured out. And this confidence spilled over into more than trade deals. Champions of cutthroat capitalism pushed former Soviet states to privatize as quickly as possible, despite the risk of corruption. They looked the other way as China manipulated its currency to advance its own interests and undercut work done here in America. Washington technocrats backed austerity, deregulation, and privatization around the world. As one crisis after another hit, the economic security of working people around the globe was destroyed, reducing public faith in both capitalism and democracy. Policymakers promised that open markets would lead to open societies. Wow. Did Washington get that one wrong. Efforts to bring capitalism to the global stage unwittingly helped create the conditions for anti-democratic countries to rise up and lash out. Russia has become belligerent and resurgent. China has weaponized its economy without loosening its domestic political constraints. And over time, in country after country, faith in both capitalism and democracy has eroded. A program once aimed at promoting the forces of freedom ended up empowering the opposite."

Warren gets it.”

Elizabeth Warren Just Took a Crucial Stand for Democracy and Enlightened Internationalism
https://www.thenation.com/article/elizabeth-warren-american-university-speech/
People who say it cannot be done should not interrupt those who are doing it.

Lurk

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Re: If not Capitalism... then What? And, How?
« Reply #711 on: December 04, 2018, 03:27:34 PM »
Connecting the Peace and Climate Dots 
The Sunrise CLIMATE Movement

Let’s face a second crucial fact: whether as separate issues–or as properly connected–our elites (and the major parties and corporate media who reflect their agendas) don’t give a flying frack about peace or climate. This fact is clearly illustrated by their deafening silence about the twin apocalyptic threats of nuclear war and climate Armageddon throughout the midterm election campaigns. A silence which Noam Chomsky rightly brands “moral depravity.”

When elites (and their political and media lackeys) wish to bar all policy action on an issue, they simply shroud the issue in silence. And blather endlessly about distractions to crowd the far more serious (but taboo) issue out of media space. That the peace and climate issues have been given the silence-and-distraction treatment is compelling evidence they are taboo issues our elites don’t want discussed, much less acted on.

What I hope I’ve established so far is that peace and climate are tightly interconnected life-or-death moral issues, both subject to political and media conspiracies of silence and distraction, that our ruling elites have overwhelming vested interests–contrary to humanity’s interests–in not acting upon. What follows is that peace and climate activists have an overwhelming vested interest in joining forces (and making a huge public stink) on these tightly linked life-or-death issues, now tabooed from mainstream political discourse.

As the real adults in the room, peace and climate activists must play regent to the willful, destructive, “child king” of our ruling elites, overruling their edict that everyone must overlook their unspeakably reckless acts of juvenile vandalism. While the planet literally burns.

The only important strategic question, for peace and climate activists desperately savvy enough to join forces, is whose issue should take the lead as the banner issue. I’ll argue here that it should be the climate issue, but framed not merely as a call for climate action but for climate justice, where world peace is rightly viewed as an absolutely critical precondition for addressing humanity’s climate emergency.

So my case here depends partly on arguing that climate justice–which includes peace–is the master moral and political narrative of our times. But even more importantly, it depends on highlighting a potent newsmaking force for climate action–and latently for climate justice and peace–already on the ground: the Sunrise climate movement.

https://www.greanvillepost.com/2018/12/03/peace-activists-best-hope-the-sunrise-climate-movement/

Sunrise is a movement to stop climate change and create millions of good jobs in the process.

We're building an army of young people to make climate change an urgent priority across America, end the corrupting influence of fossil fuel executives on our politics, and elect leaders who stand up for the health and wellbeing of all people.

We are ordinary young people who are scared about what the climate crisis means for the people and places we love. We are gathering in classrooms, living rooms, and worship halls across the country. Everyone has a role to play. Public opinion is already with us - if we unite by the millions we can turn this into political power and reclaim our democracy.

https://www.sunrisemovement.org/who-we-are/


Lurk369:Best of Bookmarks
« Last Edit: December 11, 2018, 02:26:38 AM by Lurk »
American journalist Walter Lippmann observed, “Where all think alike, no one thinks very much!”
To Solve Climate Change ~ Change the System, because it changes nothing when nothing changes!

TerryM

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Re: If not Capitalism... then What? And, How?
« Reply #712 on: December 04, 2018, 09:22:31 PM »
Robert Reich:

“Elizabeth Warren gave one of the most important foreign-policy speeches in recent memory yesterday. It wasn't just a rebuke of Trump and the Republicans but also of the  Democratic Party over the last decades, especially the so-called “Washington consensus” about the wonders of free-market capitalism. Here’s the critical paragraph:

"Washington had it all figured out. And this confidence spilled over into more than trade deals. Champions of cutthroat capitalism pushed former Soviet states to privatize as quickly as possible, despite the risk of corruption. They looked the other way as China manipulated its currency to advance its own interests and undercut work done here in America. Washington technocrats backed austerity, deregulation, and privatization around the world. As one crisis after another hit, the economic security of working people around the globe was destroyed, reducing public faith in both capitalism and democracy. Policymakers promised that open markets would lead to open societies. Wow. Did Washington get that one wrong. Efforts to bring capitalism to the global stage unwittingly helped create the conditions for anti-democratic countries to rise up and lash out. Russia has become belligerent and resurgent. China has weaponized its economy without loosening its domestic political constraints. And over time, in country after country, faith in both capitalism and democracy has eroded. A program once aimed at promoting the forces of freedom ended up empowering the opposite."

Warren gets it.”

Elizabeth Warren Just Took a Crucial Stand for Democracy and Enlightened Internationalism
https://www.thenation.com/article/elizabeth-warren-american-university-speech/


How "brave", undoubtedly 1/1024th of her heritage.

A little untimely thanksgiving humor to lighten the mood.

https://storage.ning.com/topology/rest/1.0/file/get/136321760?profile=original&width=312

Terry



sidd

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Re: If not Capitalism... then What? And, How?
« Reply #713 on: December 07, 2018, 11:05:52 PM »
Scheer interviews Segarra over at truthdig on regulatory capture: Segarra was the one who blew the lid off the Federal Reserve/Goldman Sachs scandal where officials of both organizations broke the law and covered it up. Guess what. No one except Segarra was punished ...

" ... Congress did hold a hearing, but they did not invite me to testify. They didn’t want to hear what I had to say. And so I think what we have in terms of this story is really not just a failure of the banks and the regulators, but also a failure of our prosecutors. I mean, a lot of the statutes that could be used–criminal statutes, even, that could be used to hold these executives accountable are not being used, and they have not expired; we could have prosecutors holding these people accountable. We could have trial lawyers filing cases and holding these people accountable. Yet we can’t count on them to do it; we can’t count on the judiciary to do anything about it. "

"The case was assigned to a judge who was friends with the attorney, I had worked with the attorney that represented the Fed. And then two days before dismissing the case, she revealed that she was married to someone who represented Goldman Sachs for a living. So, yeah, there you go."

"And if you read a study done by the Federal Reserve of St. Louis about the consequence of this economic meltdown that was engineered from places like Goldman Sachs, the human cost was incredible. I mean, people lost everything. They weren’t bailed out. There was no mortgage relief. They were not helped. The banks were bailed out. And yet no one has been held accountable, and the politicians, democrats and republicans, who supported it, have gotten off scot-free."

"The U.S. dollar is a reserve currency. The world depends in large part on the American banking system to work. And for it to work, there are these rules, and these rules are there to create trust in the system and to create smooth processes in the system, so that money can be moved and the economy can continue to grow. If the world can no longer trust the American banking system because Americans cannot be trusted to regulate it, they are going to move away from the American banking system. They are going to move away from the U.S. dollar as a reserve currency."

" I mean, if they’re asking for a report, that means that they plan to do nothing about it. "

" ... the story of how they played at this game of pretending to clean up the regulatory issues. I mean, the joke really was on us, the new regulators that were brought in from the industry to actually clean up the problems that were there. None of us are there at the Fed anymore. Every single one of those people that I talk about that validated my story, they’re gone. And they are gone under different circumstances, some in good standing, some in less good standing, but the point is they’re all gone. Because the purpose of bringing us in was not really to change things, it was to ensure that they had a smoke screen and a story to feed the press, that they would print, saying that they had indeed fixed this. And there was nothing else there to see."

Scheer Intelligence is a good show. Read/listen at

https://www.truthdig.com/articles/wall-streets-corruption-runs-deeper-than-you-can-fathom/

sidd

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #714 on: December 08, 2018, 08:44:44 PM »
"What’s that? You want a reasonable price quote, upfront, for our services? Sorry, let me explain a hospital to you: we give you medical care, then we charge whatever the hell we want for it."

"Oh, you think you think we’re cruel and illogical? Well, no one forced you to come here. It’s your decision, you head-injured meatball. Feel free to go out into the parking lot and just die."

https://www.mcsweeneys.net/articles/welcome-to-our-modern-hospital-where-if-you-want-to-know-a-price-you-can-go-fuck-yourself

sidd

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #715 on: December 11, 2018, 12:09:12 AM »
Piketty (and many others)  in the Guardian propose a new model for Europe:

"four major European taxes, the tangible markers of this European solidarity. These will apply to the profits of major firms, the top incomes (over €200,000 a year), the highest wealth owners (over €1m ) and carbon emissions (with a minimum price of €30 a tonne). If it is fixed at 4% of GDP, as we propose, this budget could finance research, training and the European universities, an ambitious investment programme to transform our model of economic growth, the financing of the reception and integration of migrants, and the support of those involved in carrying out this transformation. It could also give some budgetary leeway to member states to reduce the regressive taxation that weighs on salaries or consumption."

https://www.theguardian.com/commentisfree/2018/dec/09/manifesto-divided-europe-inequality-europeans

sidd

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #716 on: December 14, 2018, 09:54:50 PM »

Sigmetnow

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Re: If not Capitalism... then What? And, How?
« Reply #717 on: December 17, 2018, 07:36:17 PM »
The AI boom is happening all over the world, and it’s accelerating quickly
Quote
...
With automation, we’ve come to an understanding that mass unemployment isn’t coming anytime soon, and the bigger concern is whether we as a society are prepared for the nature of work to transition toward less stable, lower-paid jobs without safety nets like health insurance.

Not everyone is going to lose their job right away. Rather, certain jobs will be eliminated over time, while others will become semi-automated. And some jobs will always require a human being. The fate of workers will depend on certain employer constraints, labor laws and regulations, and whether there’s a good enough system in place to transition people into new roles or industries. For instance, a McKinsey Global Institute report from November of last year found that 800 million jobs could be lost to worldwide automation by 2030, but only about 6 percent of all jobs are at risk of complete automation. How that process of moving from a human-only job to an AI- or robot-assisted one is developed could mean the difference between a full-blown crisis and a historical paradigm shift. ...
https://www.theverge.com/2018/12/12/18136929/artificial-intelligence-ai-index-report-2018-machine-learning-global-progress-research
People who say it cannot be done should not interrupt those who are doing it.

Nemesis

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Re: If not Capitalism... then What? And, How?
« Reply #718 on: December 17, 2018, 07:42:01 PM »
Another funny capitalist bubble going to hell:

" 15.12.2018 - Why Shorting Bitcoin (BTC) At These Levels Is A Recipe For Disaster"

https://cryptodaily.co.uk/2018/12/why-shorting-bitcoin-at-these-levels-is-a-recipe-for-disaster

Lurk

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Re: If not Capitalism... then What? And, How?
« Reply #719 on: December 18, 2018, 03:47:25 AM »
The AI boom is happening all over the world, and it’s accelerating quickly

Yeah whatever. Hand waving is fun too.

But what does any of that have to do with  If not Capitalism... then What?  And, How?

Could we stick to the actual topic please?
American journalist Walter Lippmann observed, “Where all think alike, no one thinks very much!”
To Solve Climate Change ~ Change the System, because it changes nothing when nothing changes!

Neven

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Re: If not Capitalism... then What? And, How?
« Reply #720 on: December 18, 2018, 09:43:58 AM »
I think there's a very interesting relationship between AI and the future of capitalism.
Compare, compare, compare

Sleepy

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Re: If not Capitalism... then What? And, How?
« Reply #721 on: December 18, 2018, 11:43:21 AM »
Neither will exist?

The AI boom is happening all over the world, and it’s accelerating quickly

Yeah whatever. Hand waving is fun too.

But what does any of that have to do with  If not Capitalism... then What?  And, How?

Could we stick to the actual topic please?
If you hadn't deleted the other thread you started "Artificial Intelligence, Machine Learning, Technology & Ethics" you could've pointed Sig to that one?
Omnia mirari, etiam tritissima.
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TerryM

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Re: If not Capitalism... then What? And, How?
« Reply #722 on: December 18, 2018, 05:32:25 PM »
Has capitalism ever worked for the good of most of the people? It's certainly wonderful for the tiny minority near the top, but once you allow for the 1%, the 10%, or even the upper quintile, how do the lower 80% fare. Does the lower half of the population benefit in any way from the blessings of capitalism?


If the lower half of a capitalistic population is supporting itself well, it can only be because they have capital to invest. If the lower half of a particular demographic has an investable surplus, you can be sure that it's not the result of capitalism.


During Cuba's "Special Period" the government delivered enough food to each dwelling on a daily basis so that no one went hungry, not even those without refrigeration. Health care and education (to any level) was also assured.
Cubans now live longer lives than their American tormentors. There is a divine irony at play when you recognize that the guards at Guantanamo won't live as long as the locals whose land has been expropriated. Their children won't be as well educated, and their wives are more likely to die during childbirth.


The Countries that best exemplify the benefits of capitalism, Northern European & German "workers paradises", are those that incorporate the largest slices of socialistic programs into their mix.
Capitalism wasn't designed for the benefit of the masses, rather for the aggrandizement of those already possessing capital. It's popularity is heralded by those who own printing presses and broadcasting infrastructure - not affordable to any but the 1%.


Terry

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #723 on: December 20, 2018, 12:22:51 AM »
Zizek at the Independent calls on gilet-jaunes to radicalize further:

"  mixture of demands that are impossible to meet within the system although they address them at the system. This feature is crucial: their demands express their interests rooted in the existing system. "

" This doesn’t mean that we simply need a different socioeconomic system, a system which would be able to meet the protesters’ demands: the process of radical transformation would also give rise to different demands and expectations. Say, with regard to fuel costs, what is really needed is not just cheap fuel, the true goal is to diminish our dependency on oil for ecological reasons, to change not only our transportation but our entire way of life. The same holds for lower taxes plus better healthcare and education: the whole paradigm will have to change."

"The same holds for our big ethical-political problem: how to deal with the flow of refugees? The solution is not to just open the borders to all who want to come in, and to ground this openness in our generalised guilt  ... the “contradiction” between advocates of open borders and populist anti-immigrants is a false “secondary contradiction” whose ultimate function is to obfuscate the need to change the system itself: the entire international economic system which, in its present form, gives rise to refugees."

"This provocation has to be followed by a key step further: not demanding the impossible from the system but demanding the “impossible” changes of the system itself."

Read the whole thing:

https://www.independent.co.uk/voices/yellow-vest-protests-france-paris-gilets-jaunes-macron-fuel-tax-minimum-wage-populism-a8686586.html

sidd


sidd

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Re: If not Capitalism... then What? And, How?
« Reply #724 on: December 26, 2018, 01:00:52 AM »
Very good article on the historical development of capitalism and why the USA may now, for the first time be at a disadvantage in attracting capital. I do not agree will everything in the article, but it is certainly thought provoking and I shall have to reread it carefully, perhaps more than once.

"capitalism in Europe, and eventually capitalism in the world today, the world of states that compete for power, influence, prestige and position relative to one another, is one in which states must compete with each other to have access to capital, to mobile capital."

"the US state negotiated from a position of relative strength compared with the states of Europe in relation to mobile international capital."

" the corporation is an organization to permit the capitalist class collectively to dominate the American economy."

" in response to the growing power of workers, and declining rates of profit, capitalists withdraw investment from production, and the Reagan Administration and the Federal Reserve lead a move toward an alliance with finance capital."

"The Debt Crisis allows the Reagan administration to use the International Monetary Fund, after Reagan’s chief economist there, Ann Kreuger, fires all of the Keynesian economists, to impose on the countries of the world the policies we today associate with neoliberalism. "

"If we see the world that enslavement to mobile capital is creating, if we see that nothing will be spared, nothing will have value in the eyes of shareholders, holders of mobile capital, except the enlargement of their capital ..."

" national pensions, like our Social Security are not just money, not just accounting tricks. Not just numbers. They are forms of solidarity between generations."

" a long historically pattern noted by Giovanni Arrighi, in which capital, searching for political protection by a strong state for its mobile capital and investments, supports a hegemonic, leading power – like Britain in the 19thcentury and the US in the 20th– but now which may be abandoning its longtime relationship to the United States. "

"The interests of the US as a country, and as a government, and those of finance and of mobile capital increasingly do not coincide anymore ..."

Read the whole thing:

https://www.counterpunch.org/2018/12/24/capitalism-in-the-united-states-and-in-europe/

sidd

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #725 on: January 10, 2019, 06:33:44 AM »

gerontocrat

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Re: If not Capitalism... then What? And, How?
« Reply #726 on: January 10, 2019, 09:12:20 AM »
The Journal "The Anthropocene Review" want 36 bucks to view this article. They can get lost.

https://journals.sagepub.com/doi/abs/10.1177/2053019618820350

Quote
Over the horizon: Exploring the conditions of a post-growth world

authors
Timothy Crownshaw, Caitlin Morgan, Alison Adams, ...
First Published December 25, 2018 Review Article 
https://doi.org/10.1177/2053019618820350
Article information
 Article has an altmetric score of 13   No Access
Abstract
Maintaining steady growth remains the central goal of economic policy in most nations. However, as evidenced by the advent of the Anthropocene, the global economy has expanded to a point where limits to growth are appearing. Facing the end of growth requires a careful re-examination of plausible future conditions. We draw on a diverse literature to present an interdisciplinary exploration of post-growth conditions in the areas of climate change, ecological impacts, governance, and education, finding that such conditions may invalidate many prevalent assumptions regarding the future. The post-growth world, while subject to significant uncertainty and heterogeneity, will be characterized by profound hazards and discontinuities for both human and natural systems. Furthermore, we argue that an economic paradigm change will be predicated on an involuntary and unplanned cessation of growth. This implies a necessary strategic expansion of the heterodox economic discourse to formulate appropriate responses in view of likely post-growth realities.

Keywords Anthropocene, degrowth, heterodox economics, limits to growth, post-growth conditions, sustainable societies
"Para a Causa do Povo a Luta Continua!"
"And that's all I'm going to say about that". Forrest Gump
"Damn, I wanted to see what happened next" (Epitaph)

johnm33

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Re: If not Capitalism... then What? And, How?
« Reply #727 on: January 10, 2019, 10:19:19 AM »
In another thread, i noticed some confusion of the role of asset, debt, banking and money creation in modern economies. Here is a good primer.

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf

https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy-long-run-data-annex.xls

sidd

The next step is to realise that there really is only one bank and that the debt you take on is the ammunition that it uses in the warfare it conducts against society/humanity/nations, all for the common good of course.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #728 on: January 12, 2019, 10:29:59 PM »
Meyer interviews Blyth on the crisis of globalized capitalism:

"you’ve got a very, very strange world that we haven’t experienced before. One in which you’re going to have [structurally] low interest rates because there’s no inflation to combat. Then you’ve got a world in which labour markets [can have] full employment but it does nothing for wages, which means sustaining and perhaps making worse the inequalities that are already there. Then in product markets you have a winner-takes-all dynamic, whereby quasi-monopolists get monopoly rents and everybody else [gets to return to perfect] competition."

"what we’ve run across the world during the globalisation era is a kind of meritocracy. A meritocracy is people like you and people like me, and people who are slightly different from us but nonetheless went to the same universities and studied the same courses. We get to run everything and we become the technocratic class. The technocratic class really has nothing to do with the rest of society. We send our kids to the same schools. We read the same newspapers. We have the same social habits. We’re a kind of transnational class. I was part of this. I saw it emerging."

"Now, you’ve got everybody else who lives a very different life, where wages aren’t rising. The real-term costs are going up. The politicians are telling them ‘There’s no inflation’ but it seems that the cost of everything nonetheless is going up for them in real terms. And there’s a disconnect between the two."

"The first thing neoliberalism did, in a sense, was to globalise labour markets and thereby render labour’s ability to command its share of national income obsolete."

"you’ve destroyed the labour-market cartels. You’ve destroyed the product-market cartels. You’ve globalised everything. What’s the point of the existing parties? They don’t really have one. They were there to stabilise structures that no longer exist. Which is why they’re strangely clueless about what’s going on."

"what people are crying out for is a vision, a reason to believe in something."

"What they actually want is someone to explain to them why, if global warming is so important, they have to pay through their wallets, through a diesel tax, when people that own yachts seem to get off scot-free. What they need is somebody to explain to them why it is that inequality has got so out of whack and our politics is run by the very people who are sitting at the top of the pile pulling the strings of the politicians. They’re not stupid. We think they’re reading ‘fake news’. They’re not. They’re just looking for an alternative account, because they don’t believe a word that comes out of our mouths anymore."

"what populism has going for it is the notion of sovereignty."

"The populists come to power in Italy ... So you’ve now got people in charge who said: ‘Screw them all. We will change everything.’ And they’re not going to change anything. What does that do to democracy and people’s faith in democracy?"

"You will have more populism. More collapse of the centre-left going on, because it won’t be able to reconfigure itself in any important way."

"More of these people will get into power and they will fail. And I really worry about that, because when they fail we could say: ‘Well, good, because they’re all idiots and they’ve got stupid policies.’ Yes, but what does that do to the public’s faith in democracy? Because they’re basically saying: ‘You can vote for the radical alternatives and you still don’t get to change anything.’ "

"if you’re waiting for a bunch of superannuated, septuagenarian social democrats to save your arse start looking elsewhere."

Read the whole thing:

https://www.socialeurope.eu/crisis-of-globalisation-mark-blyth

sidd

etienne

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Re: If not Capitalism... then What? And, How?
« Reply #729 on: January 13, 2019, 09:45:20 AM »
The link is very interesting, it’s a good analysis, but doesn’t bring any solution. In Italy, there was a new party (5 stars) that is seen as populist, and in France it is « La Republique en Marche », but it is somehow new people doing always the same thing, it really is what he says, populist won’t be able to change anything, but I believe that new parties also won’t change anything.

I believe that the only solution is a boycott of unfair products, because I believe that the way we spend our money is the only power we have left, and it is what ended apartheid. I like saying that we can’t buy tax free products, but we can buy income tax free products (many international companies use tax heavens to avoid income taxes), and we should try to avoid it because it means that we support people cheating with our countries.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #730 on: January 13, 2019, 09:54:19 AM »
Re: the way we spend our money is the only power we have left

That is a powerful action, but it is framed in the context of markets and capitalism. What we see is a rejection of markets and capitalism as unquestioned gods. And that is even more powerful.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #731 on: January 13, 2019, 10:20:16 AM »
MMT expounded by Lesnick: Money is no object

"Today, after four hours of effort, a typical worker has produced enough value to cover her own salary. The rest of the day the worker produces wealth that he or she never sees. The capitalists keep this surplus and call it profit."

"Ever since humans could produce more in a day than they could consume, our history can be understood as little more than the struggle over who controls the monumental surplus wealth produced by the 99%."

"Government spending has to precede any tax collection"

"This is exactly how our military is funded. Though it benefits primarily the military-industrial complex and the top 1%, the military budget is increased every year without raising any new taxes to cover it. They just print more money. "

"Franklin Delano Roosevelt understood all of this. When his administration passed the original Social Security legislation, it included a new payroll tax – a paycheck deduction working people are all too familiar with today."

FDR: "We put those pay roll contributions there so as to give the contributors a legal, moral, and political right to collect their pensions and their unemployment benefits. With those taxes in there, no damn politician can ever scrap my social security program. Those taxes aren’t a matter of economics, they’re straight politics."

Ruml (NYFRB): " The public purpose which is served should never be obscured in a tax program under the mask of raising revenue."

"The real limiting factors are labor and natural resources. "

"unemployment is  completely unnecessary. "

"What if too many dollars are added to the economy despite the best oversight and policy intentions? Simple. Extract some money from the economy with taxes. But not just any taxes. As we have seen, the only just taxes are those that reinforce worthy political policy, such as taxing the wealthiest to reduce income inequality."

"Elaborate means are used today to make it appear that the government must rely on funding from outside sources rather than simply printing its own money. Our government has outsourced this crucial function to the Federal Reserve. Created in 1913, ostensibly to rationalize currency nationally, the Federal Reserve is a gift to the big banks and the richest of the rich. While the U.S. government could generate interest-free money whenever it wants, the oligarchs controlling our government have instead privatized this function, handing it off to a consortium of for-profit banks. These banks add money to the economy by issuing loans, and then charge fees and interest to the government. It’s a classic sinecure and wealth transfer scheme. The effortless task of adding numbers to a ledger to create money has been handed off to powerbrokers in the private sector. This enriches the powerful at the expense of the public, with no benefit to the public for the expense incurred. "

Read the whole thing:

https://www.counterpunch.org/2019/01/11/money-is-no-object/

sidd

Sigmetnow

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Re: If not Capitalism... then What? And, How?
« Reply #732 on: January 16, 2019, 04:39:49 PM »
... then Sharing.  And Kindness.

Restaurants across the country are feeding furloughed government workers for free
Quote
This isn't the first time Richard Skorman and his wife, Patricia Seator, are offering free food during a government shutdown.

The couple have co-owned Poor Richard's restaurant in downtown Colorado Springs since the early 1990s and have done their part to help struggling workers each time the federal government has come to a halt.
...
"It's something we like to do because people are really struggling financially, working paycheck to paycheck. Government workers are often not making huge amounts of money and they really appreciate it," Skorman said.

He said customers have included federal employees from all kinds of positions -- airport security agents, employees from the forest service, homeland security and food stamp office. So far, he said the restaurant has served more than four dozen families and they've all expressed great appreciation. ...
https://www.wbaltv.com/article/hundreds-of-government-employees-aren-t-getting-paid-so-restaurants-across-the-country-are-feeding-them-for-free/25828155
People who say it cannot be done should not interrupt those who are doing it.

johnm33

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Re: If not Capitalism... then What? And, How?
« Reply #733 on: January 16, 2019, 11:52:15 PM »
Catherine Austin Fitts addresses whats going on behind the smokescreen.

SteveMDFP

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Re: If not Capitalism... then What? And, How?
« Reply #734 on: January 17, 2019, 06:05:59 AM »
Catherine Austin Fitts addresses whats going on behind the smokescreen.

Of course, she didn't actually explain anything.  All I could discern was a lot of acronyms, scary-sounding figures, dire predictions -- and a clear message that she was selling subscriptions to her newsletter.

sidd

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Re: If not Capitalism... then What? And, How?
« Reply #735 on: January 18, 2019, 12:59:57 AM »
What Fitts is worked up about is guidance published by Federal Accounting Standards Advisory Board (FASAB) titled "Statement of Federal Financial Accounting Standards 56, Classified Activities"

http://files.fasab.gov/pdffiles/sffas_56_nr.pdf

This allows the feds to conceal classified spending by keeping two sets of books. The fake ones are for public disclosure. Taibbi has a writeup:

https://www.rollingstone.com/politics/politics-features/secret-government-spending-779959/

Guess too many people were following the money and asking awkward questions.

sidd