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Peak Inequality: The .01% And The Impoverishment Of Society by David DeGraw + The Economics of Revolution
Part S in the Insider’s Economic Dictionary.
S-curve: The typical shape of growth in nature, such as human beings whose height tapers off as they reach maturity. They also typify most business cycles, which taper off after an upswing as employment, raw-materials and resource limits are approached and wages and commodity prices rise, slowing profits. The demand for specific products likewise tapers off as markets become saturated. Meanwhile, the fact that financial claims and debts tend to grow at compound interest means that financial dynamics tend to outrun the S-curve of production and consumption, creating business crises which end the upswing. Continue reading
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Updated: May 16, 2014 Added video
Updated: May 14, 2014 Added video
The following article is from a new book, Flashpoint in Ukraine, edited by Stephen Lendman. It is currently available from Clarity Press as an e-book, and soon to be printed.
Finance in today’s world has become war by non-military means. Its object is the same as that of military conquest: appropriation of land and basic infrastructure, and the rents that can be extracted as tribute. In today’s world this is taken mainly in the form of debt service and privatization. That is how neoliberalism works, subduing economies by indebting their governments and using unpayably high debts as a lever to pry away the public domain at distress prices. It is what today’s New Cold War is all about. Backed by the IMF and European Central Bank (ECB) as knee-breakers in what has become in effect a financial extension of NATO, the aim is for U.S. and allied investors to appropriate the plums that kleptocrats have taken from the public domain of Russia, Ukraine and other post-Soviet economies in these countries, as well as whatever assets remain. Continue reading
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with Noam Chomsky
University of California Television (UCTV) on Apr 28, 2014
Jan Nederveen Pieterse in conversation with Noam Chomsky, linguist, philosopher and political commentator. Chomsky is Emeritus professor of linguistics at MIT. Jan Nederveen Pieterse is professor of Global Studies and Sociology at University of California, Santa Barbara. Series: “Carsey-Wolf Center” [5/2014] [Humanities] [Show ID: 28120] (Visit: http://www.uctv.tv/)
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Capitalism and its imperialist proclivity have been associated with the structural causes of conflict and war over recent centuries. But given today’s imperative realities of a globalized economy, capitalism – or at least large sections of it – cannot afford such a conflict or desire it. In this regard, we may be witnessing a seminal shift, whereby Washington’s threatened sanctions towards Russia, and the war that that entails, are seen as an untenable political agenda divorced from the all-important economic realm.
In pushing this agenda, Washington may be the one that finds itself isolated, not Moscow. Continue reading
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Michael Hudson: This Is Risking A Threat Of War + Is Thomas Picketty Right About The Causes of Inequality?
Karl Fitzgerald: Michael Hudson – www.Michael-Hudson.com – is back on the 3CR airwaves with an explosive show moving through the incredible wealth gap as outlined by Thomas Piketty. His book is barnstorming the world at the moment. We review it, alongside a bit of Marxist theory as we slide into what America is really up to in the Ukraine. It’s always interesting with Michael Hudson. Stay tuned for another instalment of the Renegade Economists. Continue reading
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