Posts Tagged Economy
Watch this and think: In this video economist Richard Wolfe discusses his very different look at capitalism – a socialistic perspective. The video was produced in 2012, five years after the crash of 2007. He suggests we must look at bold changes, if we are to actually help the majority. He, along with “millions, see(s) a capitalist system no longer serving most Americans.” He rejects the Adam Smith premise that if everyone takes care of himself and works hard we will all rise. Interestingly, that theory has only worked for the very few. Wolfe insists that “the system of rules we are all playing by is the problem and that system must change.” I agree with Wolfe that our infatuation with capitalism has run its’ course and it is time for bold, substantial change. Watch the video and consider something different.
Read this: Ever wonder how Ronald Reagan could have had such an overwhelming effect on the U.S. and for that matter the world. This article in in The Guardian by Dean Baker is a good brief overview. People seem to need an idol to give an idea real power. “Reagan helped to put a caricature of politics at the centre of the national debate and it remains there to this day.” He has become godlike and proven to be enormously effective. The differences in perceptions between right and left are pretty simple. Basically “progressives trust the government to make key decisions on production and distribution, while conservatives trust the market.” Amazingly, almost by default, the right has been able to effectively control the conversation as if it were gospel. As Baker says here, the “right has no greater commitment to the market than the left” but incredibly “progressives are so foolish as to accept this framing.” Progressives are either silent or go along with far to much of the right wing dialogue and in the process they have allowed the entire government to follow the false god of Reaganomics. As Dean says, “it seems that progressives have taken a pledge to be the Washington Generals of national politics. The policies that have led to the most massive upward redistribution of income in the history of the world go largely unchallenged, while we argue endlessly over the Reagan-Bush tax breaks to the rich.” Read the whole article below.
Watch this short video and sign the petition: Ever wonder what the Federal Reserve really does? The organization Brave New Films has created the short video below to help explain this. They point out that the “Fed” has the ability to directly affect our economy and who wins and loses. “Under pressure from big corporations and Wall Street, the Federal Reserve is moving in ways that will stop wage growth and raise interest rates. This is a terrible idea that will hurt millions of low wage workers and unemployed Americans.” Once again, corporations (those special people) seem to get special / secret treatment. Watch the video and get involved by signing the petition.