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Showing posts with the label “free market”

The ‘Free Market’

“The bank robber John Dillinger is one of history’s most famous thieves, absconding with the equivalent today of about $7 million. You’d think that if someone had stolen $7 million on each of 7 million separate crime sprees, you would have heard about it, right? But you would be wrong. In 2020, the RAND Corporation, a think tank in Santa Monica, California,  released a study with the humdrum title “Trends in Income From 1975 to 2018.” RAND itself resides at the center of America’s establishment. In the decades following its founding after World War II, it was largely funded by and served the needs of the military-industrial complex. Daniel Ellsberg was working at RAND when he leaked the Pentagon Papers, which he had access to because RAND possessed several copies. Incredibly enough, this dreary-sounding paper describes what might be the largest material theft since human civilization began. It examines a simple question: If U.S. income inequality had remained at its 1975 level through

NATO Isn’t Really About Defence

Like other tools, NATO has been an arm of US-led imperialism, and using the liberal language,  acting “as a ratings agency for the European Union in Eastern Europe, declaring countries secure for development and investment. The organization pushed would-be partners to adhere to a liberal, pro-market creed.” Furthermore, “ NATO  has stymied the emergence of any semiautonomous European force capable of independent action... In fact,  NATO  is working exactly as it was designed by  postwar U.S. planners , drawing Europe into a dependency on American power that reduces its room for manoeuvre.” “The war [in Ukraine] serves as a dress rehearsal for U.S. confrontation with China, in which European support cannot be so easily counted on.” And “left parties in Europe, historically critical of militarism and American power, have overwhelmingly enlisted in the defense of the West…” In sum, NATO is about defence of expansion. ********* If Russia sought to divide Europe, President Biden could plaus

Freedom and Democracy Update

It takes Cristiano Ronaldo around  3 minutes  to earn the weekly salary of  a Saudi worker on the average annual salary of £58,000,  90 seconds  to earn the weekly salary of  a British worker on the average annual salary of £26,000. Ronaldo earns £3.6 million per week.

The Myth of the Free Market

How some liberals/neo-Keynesians are digging to justify why governments should play a big role in the economy. A ‘new’ form of capitalism is a necessary in order to get out of the crisis and prevent any possible social unrest.  What 2008/09 and the pandemic have demonstrated is that monopoly capitalism has to change for the system to survive. That Biden, for example, has introduced a big stimulus package and revoked Trump’s cuts in corporate tax reflects the uneasiness of the ruling classes and that a few things have to be done. The Woman Who ‘Shattered the Myth ’

When Neoliberalism Hijacked Human Rights

By blending historical inquiry with theoretical critique, Whyte’s account clarifies that neoliberal human rights did not emerge “from nowhere” but, rather, flowed from a long-standing, self-conscious, neoliberal tradition of forging rhetorical links between market morals and human rights. The Morals of the Market

Ayn Rand

Via Michael Roberts The hypocrisy of ideology of the superiority of the rich and greedy, as propounded by the philiosopher Ayn Rand has been exposed. Ayn Rand has been followed as a guru for free markets, laisser faire and the rich's right to rule by the likes of Alan Greenspan, Paul Ryan and Rand Paul in the US. In a 1962 essay, Rand wrote of seventeenth century French businessmen: “They knew that government ‘help’ to business is just as disastrous as government persecution, and that the only way a government can be of service to national prosperity is by keeping its hands off.” But now the Ayn Rand Institute has accepted state bailout funding of up to $1m from the Trump administration. The Institute commented: "We will take it unapologetically, because the principle here is: justice, "adding that as "the government has no wealth of its own…. It can only redistribute the wealth of others." Related Ayn Rand, Pope Francis and the philosophy o