to read the 28-page study “Who Cares? A Feminist Critique of the Care Economy” published in August 2014 by the Rosa Luxemburg foundation, click on
We live in an increasingly uncaring world. Patriarchal capitalism offers rich financial rewards to those who pursue their individual self-interest and penalizes those committed to the care of others. Competition is more highly valued than cooperation, and individual rights trump social obligation. Family and community life are treated as leisure activities, largely reserved for official holidays. Yet the word “care” plays an increasingly important role in our cultural vocabulary, perhaps because promises to attend to the personal needs of others have become less plentiful and therefore more precious.
more at www.nextnewdeal.net, www.foreffectivegov.org, www.steadystate.org, www.worklessparty.org, www.therealnews.com and www.storyofstuff.com
The TTIP. the largest free trade zone comprising 800 million of the EU and the US, is being secretly negotiated. Democracy and the constitutional state are threatened by 3-person arbitration courts where corporations can sue states and decisions are irreversible. A parallel system of adjudication is created that favors foreign investors and endangers social and environmental regulations.
IG Metal, Verdi service union and C Butterwegge comment.
more at www.alternativetrademandate.org, www.citizen.org, www.therealnews.com, and www.onthecommons.org
We face the continuing dissolution of traditional types, forms and rules, not a new type, a new form or a new rule… What was once called estrangement or objectification should appear as workers’ own interest. Corresponding to the market has to be our elementary need. We have to follow it like a train of capitalist lemmings. Flexibility has nothing to do with individual sovereignty. Rather it means being completely handed over to the outward demands. The flexibility of people is nothing but the dictation of the markets. The flexibilized are trained along economic needs and do not direct themselves. Submitting to the so-called practicall necessities is vital.
Karl Polanyi spoke of a dis-embedded economy… A tendency to barbarism and violence is inherent in a completely capitalized and economized world… We need an economy that orients its practice by natural realities and criteria of material needs and ecological compatibility and no longer acts according to money-categories… Imagining a world beyond commodities and money and doing our utmost practically for its realization become increasingly urgent. Intellectual courage is the prerequisite.
to read the articles by Franz Schadl and Gotz Eisenberg (“The Victory of the Economy over Life”) translated from the German, click on
Resistance is part of our nature as antibodies are part of our bodies.
Economics should be pluralist, not monolithic as the economy should be part of life, not a steamroller crushing self-determination and creativity.
to watch “Occupy Love” (2013), click on
www.nextnewdeal.net, www.foreffectivegov.org, www.worklessparty.org, www.storyofstuff.com and
A Brief Theory of the Market – Ulrich Thielemann, 21pp, 2000
Profit making is not profit maximizing. Studying economics today is like brainwashing. The economy must be embedded in society, not society in the economy. These important insights from professor Ulrich Thielemann can be discerned in his early study “A Brief Theory of the Market.”
Carlos Slim among the richest men in an interview to a business and economics publication suggested one-day-a-week work week.
more at www.nextnewdeal.net, www.foreffectivegov.org, www.steadystate.org, www.onthecommons.org, www.storyofstuff.com, www.worklessparty.org, www.progressive-economics.ca, www.therealnews.com, www.freembtranslations.net and www.submedia.tv
The Abiding Economics of John Kenneth Galbraith by James Galbraith, June 7, 2007
to read the 10-page article by Marc Lee and James Galbraith, June 7, 2007, click on
I want however to speak about Galbraith the economist, and to go a bit beyond the comment I made at his 90th birthday almost nine years back. On that occasion I asserted — what I believe to be true – that as an economist he transcends fame. In the long run, his name will be recorded alongside those of Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes, among the greatest reform economists of all time…
Like Veblen, Galbraith in my view deserves to be recorded as a transforming figure. Like Veblen, he offers an approach, a manner of thought, a structure — to an economics that manifestly still waits, and greatly needs, to be transformed…
1. From The Great Crash, we have of course the conviction that financial panics affect real activity. No one in the 19th century or with experience of agriculture ever seriously doubted that the economy runs on credit or that real activity depends on banks. Only in the higher reaches of academic life could such a thing be denied. The denial, nevertheless, took powerful hold. The Great Crash is a wonderful corrective. It has remained continuously in print for over fifty years – outselling all of Galbraith’s books into the bargain…
2. The Affluent Society is now remembered for its endearing, enduring phrases, above all the “concept of the conventional wisdom,” and for its evocative passages on private opulence and public squalor, such as the one about the “family which takes its mauve and cerise, air-conditioned, power-steered and power-braked automobile out for a tour [and] passes through cities that are badly paved, made hideous by litter, blighted buildings, and posts for wires that should long since have been put underground…” before going on to “picnic on exquisitely packaged food from a portable icebox by a polluted stream [and spending] the night at a park which is a menace to public health and morals.”…
3. Then we have the theory of economic organization in The New Industrial State. Here Galbraith built on the foundation of Berle and Means, on Joseph Schumpeter and to some extent on Max Weber, on the behavioral formalisms of Herbert A. Simon, and on his own American Capitalism of 1952 and its concept of countervailing power. I love the opening lines of American Capitalism, and used them to open my father’s memorial service a year ago:
“It is told that the such are the aerodynamics and wing-loading of the bumble-bee that, in principle, it cannot fly. It does, and the knowledge that it defies the august authority of Isaac Newton and Orville Wright must keep the bee in constant fear of a crack-up. One can assume, in addition, that it is apprehensive of the matriarchy to which it is subject, for this is known to be an oppressive form of government. The bumblebee is a successful but an insecure insect.”
more at www.freembtranslations.net, www.progressive-economics.ca, www.worklessparty.org, www.therealnews.com, www.onthecommons.org, www.steadystate.org, www.buzzflash.com, www.alternativetrademandate.org
TTIP, Transatlantic Trade and Investment Partnership, is a deregulation agreement, a great redistribution project benefiting mammoth corporations at the expense of women and the 99% in Europe and the US. We expect for Europe an intensification of the trend to precarious and atypical forms of paid work. Loud protest prompted the European Commission to suspend negotiations on the investor-state right to sue.
to read the interview with Alexandra Stricker and other articles on the TTIP, click on
to read “Learning from Roosevelt: His “New Deal” by the Austrian economic researcher Stephan Schulmeister, click on
In the first phase Roosevelt concentrated in three areas: firstly, the social-psychological side of depression, combating despondency and despair, secondly, the strict regulation of the financial sector and thirdly, the stimulation of the economy by creating jobs and combating deflation and foreclosures.
The Civilian Conservation Corps helped overcome the basic pessimistic mood in society. Within a few months, 500,000 young persons had hope again. The government should intervene in case of an economic emergency (“widespread unemployment and disorganization of industry”)…The Public Works Administration was the largest New Deal organization…The Social Security Act (1935) introduced unemployment and pension insurance and set up additional measures for the socially weak… The National Labor Relations Board sought to prevent intimidation of employees by employers and promote the process of collective bargaining.
Between 1933 and 1937 the real GDP of the US increased 43%… The unemployment rate fell from 25% to 14%
more at www.nextnewdeal.net, www.foreffectivegov.org, www.onthecommons.org and www.therealnews.com
The neoliberal model promotes profits, not investments (cf. Nicolaus Kowall, a critical Austrian economist). The financial sector must be shriveled and the public sector expanded. Those are two lessons from the 2008 financial meltdown. Speculation and investment must not be confounded. Otherwise nothing is learned from history. As Albert Einstein warned, the only thing we learn from history is that we don’t learn from history. The bomb changed everything except the way we think.
Nowadays people know the price of everything and the value of nothing. (Oscar Wilde). What is good for Volvo may not be good for Sweden. Economics should be pluralistic, not a monolith. Once 90% of investment was productive and 10% speculative; now that is reversed (cf. Noam Chomsky, Richard Wolff, Naomi Klein and Henry Giroux). GE Capital is more exciting than GE refrigerators! Is the economy part of life or a steamroller crushing self-determination and creativity? Is Canada only a bitumen staple, a void to be filled with pipelines and oil trains, the next stage without alternative after “hunting and gathering” as in Stephen Harper’s dystopia? (cf. www.progressive-economics.ca)
Unlike a chair, an idea can be shared by a whole people. The time is right for alternative economics, for qualitative growth instead of quantitative growth, access instead of excess and enough instead of more!
- See more at: http://www.thomhartmann.com/forum/2014/07/speculation-kills-supply-demand#comment-274681