Reich’s latest cartoon does a good job of describing the changes in the US economy, weaker on the underlying political campaign by the rich and corporations to restructure the economy to their benefit. Worth the 6 minute viewing time.
Recent NYTimes article broadly acknowledges what every other developed country has recognized for decades, healthcare is not a good candidate for market control.
For all of the chest beating about the bold risks taken by capitalists, the capitalist time horizon is very short when compared to the many years of work that have gone into almost every significant scientific and technological advance. Without extensive government investment in activities that deliver longer term success, the capitalist system will simply eat its seed corn until it is gone.
Companies must externalize as many costs as possible in free-market capitalism. Without adequate government protections you will end up with this kind of environment. from the New York Times: Nearly 14,000 Companies in China Violate Pollution Rules By EDWARD WONG “Environmental inspectors in northern China have found that nearly 14,000 companies, or 70 percent of the businesses…
Keystone Essay What Is Market Capitalism and Why Do We Need to Understand It? (download a PDF version) Whether one envisions market capitalism as a coherent set of processes with a managing elite at the helm or as just important economic features of the overall human landscape, it long ago became a dominant feature of…
Keystone Essay Delusion – fixed false belief that is resistant to reason or confrontation with actual fact. Every society creates delusions, myths and stories to explain where it came from and how it works. These are so engrained in the culture that they form a central base for how members interpret their relationship to the environment and…
