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Overview
Profitable companies speculate on foreign currencies and buy back their own stock while rewarding managers and CEOs with bonuses. As lessons from the 2008 financial meltdown, the financial sector should be shriveled and the public sector expanded.
The 2008 financial crisis led to the destruction of millions of jobs and the destruction of trillions in wealth. The risk managers turned out to be risk creators. The deregulation of the banking industry, the corruption of the rating agencies and the indifference of the federal government enabled speculation to eclipse productive investment. All corporate and personal achievement depends on state investment in roads, schools, hospitals, food safety, water quality and airwaves. Changing economic priorities and policies is vital to fair distribution and generalized security. All people should be assured a basic unconditional income. The 26 community centers in Vancouver Canada have a cushioning and multiplying effect. In times before Reagan, they were bursting with counseling and surrogate classes and living proof that the future can move to generalized security. Reduced working hours could be seen as a socioeconomic investment ensuring long-term health and expanding time sovereignty.
The financial sector should be shriveled and the public sector expanded. The myths of self-healing markets, efficient financial markets, nature as a free good, external and sink, infinite growth in a finite world, quantitative growth and the exact sciences eclipsing qualitative growth and the human sciences (history, literature, play, language, sociology, political science, philosophy) and private opulence next to public squalor (cf. John Kenneth Galbraith) must call us to rethinking.
Alternative Austrian, Swiss, Polish and German economists can alert us to the bankruptcy of austerity policy and fiscal policy aiding capital at the expense of workers and the environment. The future economic policy must be regional and decentralized. A post-materialist economy is possible as we transition from excess to access and more to enough. Work, health, strength, security, and happiness can be redefined. The rights of nature can be respected in a future of moderation, equality, and freedom.
More and more is produced with fewer and fewer workers. Work and income have uncoupled as people cannot survive on their earnings from work and depend on credits and loans. Reducing working hours is a response to increased productivity and is the only way to assure every one of the right to meaningful work. Reducing working hours, as Michael Schwendinger explains, is a socio-economic investment that protects long-term health interests and gives people more time sovereignty.
Personal performance always depends on the work of past generations and state interventions. Americans fall to a new feudalism with the deserving and undeserving, fear-mongering and racism. Pragmatism or market religion often replaces vision, principle, and courage. Confusing speculation and investment make the next crisis inevitable. Wall Street banks spent $10 billion in campaign contribution and lobbying ensuring corruption, weak financial deregulation and shifting private losses to public taxpayers.
The lessons of NAFTA were repressed: the US trade deficit soared to $180 billion and one million jobs were lost.
How perverse and shameful to ignore facts and blatant failure, to give speculators a free pass for the 2008 crash, to shift costs to workers, the disabled, pensioners and the poor! In post-democracy representatives do not represent the public welfare or public interests. Do you think "public spirit" will fall from the sky without redistribution from top to bottom? Lies are bitter fruits of the unchecked market economy normalizing corruption and cowardice. The human future is really the welfare state where cooperation and competition reinforce each other. The market radical or market fundamentalist are caught in a false triumphalism and decry the welfare state as "Bolshevism."
That globalization will benefit everyone is a deadly myth. According to the neoliberal myth, higher profits would lead to greater investments and more jobs. In truth, corporations used soaring profits to speculate on foreign currencies and buying back their own stock!
The US economy amid outsourcing and financialization is kept alive through foreign investments, social security, Medicare and suffers from false identities, the world sheriff, the empire exploiting colonies and continents through "free investment" trade agreements, military bases and indirect threats.
The 2008 financial crisis led to the destruction of millions of jobs and the destruction of trillions in wealth. The risk managers turned out to be risk creators. The deregulation of the banking industry, the corruption of the rating agencies and the indifference of the federal government enabled speculation to eclipse productive investment. All corporate and personal achievement depends on state investment in roads, schools, hospitals, food safety, water quality and airwaves. Changing economic priorities and policies is vital to fair distribution and generalized security. All people should be assured a basic unconditional income. The 26 community centers in Vancouver Canada have a cushioning and multiplying effect. In times before Reagan, they were bursting with counseling and surrogate classes and living proof that the future can move to generalized security. Reduced working hours could be seen as a socioeconomic investment ensuring long-term health and expanding time sovereignty.
The financial sector should be shriveled and the public sector expanded. The myths of self-healing markets, efficient financial markets, nature as a free good, external and sink, infinite growth in a finite world, quantitative growth and the exact sciences eclipsing qualitative growth and the human sciences (history, literature, play, language, sociology, political science, philosophy) and private opulence next to public squalor (cf. John Kenneth Galbraith) must call us to rethinking.
Alternative Austrian, Swiss, Polish and German economists can alert us to the bankruptcy of austerity policy and fiscal policy aiding capital at the expense of workers and the environment. The future economic policy must be regional and decentralized. A post-materialist economy is possible as we transition from excess to access and more to enough. Work, health, strength, security, and happiness can be redefined. The rights of nature can be respected in a future of moderation, equality, and freedom.
More and more is produced with fewer and fewer workers. Work and income have uncoupled as people cannot survive on their earnings from work and depend on credits and loans. Reducing working hours is a response to increased productivity and is the only way to assure every one of the right to meaningful work. Reducing working hours, as Michael Schwendinger explains, is a socio-economic investment that protects long-term health interests and gives people more time sovereignty.
Personal performance always depends on the work of past generations and state interventions. Americans fall to a new feudalism with the deserving and undeserving, fear-mongering and racism. Pragmatism or market religion often replaces vision, principle, and courage. Confusing speculation and investment make the next crisis inevitable. Wall Street banks spent $10 billion in campaign contribution and lobbying ensuring corruption, weak financial deregulation and shifting private losses to public taxpayers.
The lessons of NAFTA were repressed: the US trade deficit soared to $180 billion and one million jobs were lost.
How perverse and shameful to ignore facts and blatant failure, to give speculators a free pass for the 2008 crash, to shift costs to workers, the disabled, pensioners and the poor! In post-democracy representatives do not represent the public welfare or public interests. Do you think "public spirit" will fall from the sky without redistribution from top to bottom? Lies are bitter fruits of the unchecked market economy normalizing corruption and cowardice. The human future is really the welfare state where cooperation and competition reinforce each other. The market radical or market fundamentalist are caught in a false triumphalism and decry the welfare state as "Bolshevism."
That globalization will benefit everyone is a deadly myth. According to the neoliberal myth, higher profits would lead to greater investments and more jobs. In truth, corporations used soaring profits to speculate on foreign currencies and buying back their own stock!
The US economy amid outsourcing and financialization is kept alive through foreign investments, social security, Medicare and suffers from false identities, the world sheriff, the empire exploiting colonies and continents through "free investment" trade agreements, military bases and indirect threats.
Product Details
| BN ID: | 2940162002956 |
|---|---|
| Publisher: | Marc Batko |
| Publication date: | 07/08/2018 |
| Sold by: | Barnes & Noble |
| Format: | eBook |
| File size: | 767 KB |
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