Capitalism features a structural drive to create and use external costs to increase profits. Pollution of the earth is the most obvious and visible; there are many others including injuries and death for workers.
Introducing the In Depth series on the actual workings of capitalism. Commentary on economic theories.
We read Evicted – poverty and profit in the American city by Matthew Desmond last year in our local library book group. Recently on a visit to Washington DC to the National Building Museum (401 F St. NW – Judiciary Square Metro stop) we came on an exhibit based on --->> read more -->>
Adam Smith discussed the harms caused by monopolies in the frequently, ritualistically cited book, The Wealth of Nations. The progressive politics of the end of the 19th century and into the beginning of the 20th was marked by a deep reaction to the monopolistic practices of large companies then. This --->> read more -->>
Corporate concentration of income and wealth are core features of capitalism. From its earliest chroniclers and cheerleaders like Adam Smith, the drive for corporations to get ever larger and in the doing drive their competitors out of the market was noted and warned against. In the US, the late 19th --->> read more -->>
The New Digital Monopoly Capitalism Capitalism has always been marked by relentless growth, the destruction of smaller businesses by larger, and ultimately the creation of oligopoly and monopoly corporations. From the earliest descriptions of capitalism, even by proponents like Adam Smith, this tendency towards concentration was warned against. In the --->> read more -->>
The Future of Bitcoin and Blockchain Technologies UPDATE 1/22/2018 While watching a football game over the weekend this ad from IBM was shown several times. At the very end you hear the word “blockchain”. IBM is in the blockchain business? A visit to the IBM website reveals that they are --->> read more -->>
A Note on Jobs & Unemployment Original publication date – 12/27/2016; Revised – 12/31/2017 As the presidential campaign of 2016 fades away and the Trump Era begins, we find a national scene without any real discussion of the facts of jobs and unemployment and what the future might bring. Trump --->> read more -->>
The impact of globalization on the US economy has been mostly cast by the media and politicians in light of the disappearance of many manufacturing jobs and the swarms of cheap products imported to fill our stores. We should not think that just because we invented the internet and most --->> read more -->>
Updated 9/28/2017 When I posted this back in June 2017, I was hardly prescient, just sure that Republicans and conservative Democrats would return to the illusory language of trickle-down economic growth. Yesterday President Trump kicked off his big tax cut program in Indiana saying, “a revolutionary change, and the biggest --->> read more -->>
This website casts new light on the delusions of American life. It provides facts and analysis to critique thinking that serves to shield activities of those seeking to gain advantage over others. To get started read Delusions of American Life first. Then, see the keystone essay, “What Is Capitalism and --->> read more -->>
The May 3rd post “Unbelievable” on our favorite local blog GossipsOfRivertown.blogspot.com caught our attention. This F.H.Stickles concrete truck dumping waste concrete next to a stream running into the Hudson River is a local demonstration of one of the central laws of capitalism. For more pictures of this incident go here. --->> read more -->>
The title of this short book, only 130 pages, Building the New American Economy: smart, fair, & sustainable by Jeffrey D. Sachs with a foreword by Bernie Sanders (Columbia University Press, 2017) is unfortunately misleading. There is much here about the new economy. The misleading part is that there is --->> read more -->>
This 2015 movie by Chinese director Liang Zhao is filled with great cinematography and sounds. It trades back and forth between scenes of enormous horizon gulping coal mines, under ground mines, iron making, and ends with scenes of a ghost city filled with enormous apartment blocks in a newly developed --->> read more -->>