• Books: Bury the Chains by Adam Hochschild, Endless War: Hidden Functions of the "war on terror" by David Keen, Capital Vol. 1, Tin Drum by Günter Grass, What is Islam? by Shahab Ahmed, Desiring Arabs by Joseph Massad, Spies, Soldiers and Statesmen by Hazem Kandil, La Condition Humaine by André Malraux, Of Mice and Men by John Steinbeck, Imagined Community by Benedict Anderson, Culture and Imperialism by Edward Said, The Wretched of the Earth by Frantz Fanon, The Richness of Life by Stephen Jay Gould, Children of the Alley by Naguib Mahfouz, The Mass Psychology of Fascism by Wilhelm Reich, Brave New World by Aldous Huxley, 1984 by George Orwell, Noli me Tangere by José Rizal, Age of Extremes by Eric Hobsbawm, ذهنية التحريم لصادق جلال العظم, Karl Marx by Francis Wheen, وليمة لأعشاب البحر لحيدر حيدر, Candide by Voltaire, النزعات المادية في الفلسفة العربية الإسلامية لحسين مروة, Listen Little Man by Wilhelm Reich ..
  • Films: Alexanderplatz by Rainer Fassbinder, Clockwork Orange, Apocalypse Now, The Battle of Algiers, films by P. P. Passolini, Persepolis, Midnight Express, 1984, Papillion, Gangs of New York, Sophie Scholl, Life of Brian, Ivan the Terrble, Battleship Potemkine ...

Wednesday, May 11, 2016

Via Michael Roberts' blog

America's infrastructure is literally falling apart,according to the American Society of Civil Engineers.
The American Society of Civil Engineers yesterday projected a $1.44tn investment funding gap between 2016 and 2025, warning of a mounting drag on business activity, exports and incomes.
Without radical surgery, the decay in tunnels, railways and waterways will cost the US economy nearly $4tn in lost gross domestic product by 2025 as costs rise and productivity is impeded, according to estimates from the ASCE, dragging on a recovery in output that is the shallowest since the end of the second world war.
Inadequate infrastructure is far from unique to the US. Public investment has been trending lower as a share of GDP in economies including Japan, Germany and France in recent decades. 
The debate is being inflamed by a number of scandals involving decaying infrastructure, at a time when mounting demands are being placed on it by a population set to grow by 60m over the next 25 years. 
Last year US public capital investment, which includes infrastructure, was just 3.4 per cent of GDP, or $611bn, according to the president’s Council of Economic Advisers — the lowest in more than 60 years.
For more on the failure of capitalist investment in basic infrastructure needs, see my post.

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