The great progressive Harvard economist and prolific best-selling author, John Kenneth Galbraith, wrote that “Ideas may be superior to vested interest. They are also very often the children of vested interest.” I wished he had written that assertion before I took Economic 101 at Princeton. One of the vested ideas taught as dogma then was the comparative advantage theory developed by the early 19th-century British economist, David Ricardo. He gave the example of trading Portuguese wine for British textiles with both countries coming out winners due to their superior efficiencies in producing their native products.
The Peace Report on Jun 8, 2022
In the previous video, we discussed how the capitalist-imperialist system developed over the past century. Today, in the current phase, we will discuss its 4 main characteristics, as laid out by Pao-Yu Ching in the highly recommended book, Lenin’s Imperialism in the 21st Century published by the Institute of Political Economy.
with Michael Parenti
Writer, Dandelion Salad
May 23, 2022
“You can’t have rich corporate conglomerates unless you have wage and salary workers who will work a whole lifetime and at the end of that lifetime not know any kind of economic security of any sort, own nothing but maybe a mortgage on the house or whatever, if that. So the secret to getting rich, ladies and gentlemen, is not to work hard but to get others to work hard for you.” — Michael Parenti
It is exceedingly rare for a major congressional committee to hold hearings on “corporate greed” leading to corporate profiteering and surging prices on consumer goods. On April 5, 2022, Senate Budget Chairman, Senator Bernie Sanders (I-VT) chartered uncensored territory on corporate avarice with a lead witness, former Secretary of Labor, Robert Reich, now a professor at the University of California, Berkeley.
Under neoliberal capitalism, the commodification of education has accelerated. Before the establishment of the current accumulation regime, the educational sector was predominantly controlled by an interventionist state, committed to countercyclical macroeconomic management. The labour process of teaching within a state-owned domain followed the general pattern of any other production process. According to Michael Heinrich, such a general form – which is independent of any social determinations – comprises a distinction “among functional activity (labour), the object of labour (which is modified by labour), and the means of labour (the tools with which this process of modification is made possible) as elements of the labour process.”
Collapse is a political phenomenon. It’s inextricably tied into the global class war, and into this war’s related factors of imperialism and colonialism. This is because the civilizational breakdowns that the world is experiencing, and that it’s on track to experience in the coming decades, are not natural occurrences; they’re the outcomes of capital’s designs. Therefore when we think about collapse, and about the survivalist steps we plan to take in response to it, we must frame things within a context of war. A war where the ruling class is engineering crises to preserve its own interests, and where these crises can in turn only be addressed by countering their maneuvers.
with Chris Hedges
RT America on Sep 25, 2021
On the show, the second in a two-part interview, Chris Hedges discusses with Professor David Harvey, the social, political, and economic consequences of Neo-liberalism and globalization, exploring alienation, the rise of authoritarianism, the significance of China in the world economy, the geopolitics of capitalism, carbon dioxide emissions and climate change and our collective response.
with Chris Hedges
RT America on Sep 23, 2021
On the show, the first in a two-part interview, Chris Hedges discusses with Professor David Harvey the reconfiguration of global capitalism, the contradictions of neoliberalism, the financialization of power, the commodification of spectacle, Rate Versus Mass of Surplus Value, and other issues fundamental to economic literacy.
The United States government is able to impose its will on all the world’s countries. The rest of the world, even some of the strongest imperialist countries of the Global North, lie prostrate at the feet of the U.S. What is the source of this seemingly impregnable power? Which of course leads to the next question: How long can it last?
With the unabated march of the Covid-19 pandemic, the economic situation of Colombian coffee farmers is rapidly deteriorating. The price of Arabica coffee has reduced to an exceptionally low $0.9 per pound in June. Earlier, coffee production had fallen by 28% in April, 12% in March, 9% in February and 19% in January. Specialty coffee farmers too are experiencing difficulties in the form of shortage of experienced coffee pickers. In specialty coffee, coffee cherries are picked at the peak of ripeness. But with the absence of expert pickers, “Coffee cherries left on the tree will over-ripen or fall to the ground, effectively nullifying all the additional work put into the coffee to achieve the higher quality.” This labor shortage has been partly caused by the pandemic-necessitated closure of Colombia-Venezuela border which has significantly blocked the flow of Venezuelan migrants. 1.8 million Venezuelan migrants reside in Colombia and their contribution to Colombian coffee sector is indispensably important with nine out of ten coffee pickers in Colombia being Venezuelans.
with Chris Hedges
RT America on May 30, 2020
On the show this week, Chris Hedges talks to John Ralston Saul, author and president emeritus of Pen International, about how the COVID-19 pandemic has exposed the weakness of American society, and accelerated the decline of the American Empire.