Watch/listen to this. ~ Lo
General Wesley Clark discussed America’s economic crisis and national security problems.
see
The end of (capitalist) history? By William Bowles
US Federal Reserve announces $85 billion bailout of insurance giant AIG
Who Is A.I.G. And Why Should You Care? By Mike Ruppert (2001)
Is it the 1930s all over again? By William Bowles
The U.S. Financial System in Serious Trouble by Prof. Rodrigue Tremblay
Fed nears a deal to take over ailing AIG
The Wall Street crisis and the failure of American capitalism
Lehman, Bear, Freddie, Fannie: What Does It All Mean??? by Josh Sidman
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Meant to say – “human beings aren’t JUST self interested…”
I think Clark is mostly way off in his analysis, though I do agree with him that a moratorium on mortgage nterest rate hikes is a necessary and urgent first step. I would add to that a moratorium on foreclosures, except for extreme cases.
Where Clark is wrong is in his views on human nature, in my opinion, and on the idea that our economy today is based on Smith’s ideas. I think our economy is a mixed economy that is partly socialist, and needs to be and is more healthy that way. Human beings AREN’T self interested. They are also altruistic and community oriented. We are both.
Also, globalization has NOT raised international living standards. It has not been done the right way, where all interested parties, labor as well as capital, environment, etc.. – ALL are at the table, actively shaping globalization. THAT would lead to actual raised living standards.
We need to remember that converting economies that are not primarily money based to primarily money based economies (such that people lose their land and move to jobs in the cities, etc.) does NOT necessarily equate to raised living standards.
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