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Tag: Capitalism


Flickr / Kheel Center, Cornell University

What’s Germany’s Secret?

In the decades immediately following World War II, U.S. wages steadily rose in step with productivity at a time when one-third of American workers belonged to labor unions. Today, union membership stands at 7% and wages are in decline, and conservatives are saying the two aren’t connected. (more)

Posted on Jun 16, 2011 READ MORE


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White House / Lawrence Jackson

The Corporate State Wins Again

When did our democracy die? When did it irrevocably transform itself into a lifeless farce and absurd political theater? When did the press, labor, universities and the Democratic Party—which once made piecemeal and incremental reform possible—wither and atrophy?

Posted on Apr 24, 2011 READ MORE



Sony Pictures Classics

‘The Greatest Movie Ever Sold’

In his new film about the further commercialization of movies, Morgan Spurlock looks to grind his ax against the practice of product placement.

Posted on Apr 23, 2011 READ MORE



news.bbc.co.uk

World Bank President Sounds a Warning

With rising food prices and soaring unemployment wreaking havoc across the developing world, World Bank President Robert Zoellick has some dreary news, declaring that the world is “one shock away from a full-blown crisis.”

Posted on Apr 17, 2011 READ MORE



© Reese Erlich 2011

Cuba’s New Economy

Last year Cuban President Raul Castro announced the biggest economic reforms since the 1959 revolution. Cubans are cautiously optimistic about the changes, but they’re also scared.

Posted on Apr 14, 2011 READ MORE



AP / Jacques Brinon

The Collapse of Globalization

The last people who should be in charge of our food supply or our social and political life, not to mention the welfare of sick children, are corporate capitalists and Wall Street speculators.

Posted on Mar 28, 2011 READ MORE


Euro symbol
AP / Daniel Roland

EU Moves to Shore Up Bailout Fund

European Union financial officials meeting in Brussels have agreed on the setting up of a permanent bailout fund, even as Portugal reportedly teeters on the precipice of financial collapse.

Posted on Mar 25, 2011 READ MORE



Flickr / The Vetruvian Man

No Tourists Allowed

A small town in the depths of the Amazon has declared itself off-limits to tourists. Why? Locals complain of tourists behaving badly and the fact that little of their spending actually benefits the indigenous people.

Posted on Mar 25, 2011 READ MORE



AP

Arizona Legislators Vote Down Anti-Immigration Bills

Arizona lawmakers did a 180 on Thursday, voting to reject new anti-immigrant measures in a move ostensibly in response to the harsh economic realities of the state’s budget and unrelenting pressure by human rights groups.

Posted on Mar 19, 2011 READ MORE


Richard Fuld Jr.
World Economic Forum / Remy Steinegger

Lehman Execs May Escape Charges

Officials at the SEC have begun to doubt that the agency can prove that executives of the now-defunct Lehman Brothers investment bank broke the law after the company allegedly moved billions of dollars off its balance sheet.

Posted on Mar 12, 2011 READ MORE



AP / Susan Walsh

Wall Street CEOs Off the Hook

Most of those Wall Street executives whose firms took ridiculous risks and brought the global financial system to its knees are far from a jail cell, or even from being prosecuted by the Justice Department.

Posted on Feb 27, 2011 READ MORE



AP / Cliff Owen

Fla. Governor Catches Anti-Union Fever

The Wisconsin syndrome? Just days after declaring that he favored collective bargaining for public employees, Florida’s Gov. Rick Scott, a Republican, changed his tune and said he now wishes it were not allowed in the Sunshine State.

Posted on Feb 26, 2011 READ MORE



AP / Christophe Ena

Restive Egypt Looks Over Its Shoulder

The uprising that sacked Tunisia’s government is continuing to echo through the region, with Egypt, especially, looking over its shoulder and fearing instability that could scare off foreign investors.

Posted on Jan 23, 2011 READ MORE


Economic Suicide

Is it a case of murder, or has the Western economy deliberately, if unwittingly, attempted suicide and nearly succeeded?

Posted on Jan 5, 2011 READ MORE



AP / Vahid Salemi

Swiss Cheese Sanctions

Like a piece of Swiss cheese, U.S. sanction policy is riddled with holes, according to reports. A former Treasury official claims licenses to trade with blacklisted countries such as Iran have been doled out to the tune of billions of dollars in profits, all at the behest of lobbying groups.

Posted on Dec 24, 2010 READ MORE


Euro symbol
AP / Daniel Roland

EU Moves to Defend the Euro

Despite sounding more like an arcade than a currency oversight organization, European Union leaders have agreed to set up an official bailout fund for eurozone members as soon as 2013, doing “whatever is required” to defend the beleaguered currency.

Posted on Dec 17, 2010 READ MORE



New York Times

The Shadowy Side of Derivatives Trading

Even after the economic crash and subsequent scrutiny of Wall Street, a circle of big banks has managed to maintain a monopoly on derivatives trading and keep a cloak of secrecy over its process.

Posted on Dec 12, 2010 READ MORE


Unemployment
Flickr / getfrank.

Joblessness Ticks Higher in November

Like a recalcitrant and over-sugared child, U.S. unemployment figures just won’t settle down. The country’s jobless rate ticked up to 9.8 percent in November, a world away from economic recovery.

Posted on Dec 3, 2010 READ MORE



youtube.com

Soccer Star Boots the Banks

While European economies stutter and protests in a number of European countries continue to go unanswered, it’s almost hilarious that we may turn to 1990s soccer sensation Eric Cantona for help. A Cantona interview has become a YouTube sensation, launching an online political movement based on non-participation within capitalism.

Posted on Nov 21, 2010 READ MORE



AP / Peter Morrison

$50 Billion for Irish Bailout

Although it may sound like a delicious alcoholic beverage rather than a $50 billion rescue of Ireland’s capitalist apparatus, an Irish bailout by the International Monetary Fund, the European Commission and the European Central Bank is being discussed as the island country reels from debt and failed banks.

Posted on Nov 19, 2010 READ MORE



Wikimedia Commons

Chamber Fills Its Pot o’ Gold

The U.S. Chamber of Commerce has been a bastion of pro-business, anti-environment and anti-labor ideology since its founding in 1912. And so it is unsurprising that modern-day corporations have donated millions upon millions to the Chamber to fight such perilous things as, say, security requirements on chemical facilities.

Posted on Oct 22, 2010 READ MORE



Flickr / International Monetary Fund

IMF to Scrutinize the Rich

While the International Monetary Fund has historically been an organization used by wealthy countries to assert economic dominance over the rest of the world, developing nations won a small battle Saturday as the IMF moved to increase scrutiny over its rich members, including the United States.

Posted on Oct 10, 2010 READ MORE



Flickr / GuntherAnders is my co-pilot (CC-BY-SA)

How’s This for Poignant Social Commentary?

Considering how feeble most public art is, this rather arresting piece by Italian sculptor Maurizio Cattelan deserves some serious props, especially in light of its location—within spitting distance of the Milan stock exchange.

Posted on Oct 6, 2010 READ MORE



Wikimedia Commons

The Sale That Dropped 600 Points

We knew capitalism was crazy, but it turns out it took only a single sale of $4.1 billion in futures to put into motion a series of events that culminated in the “flash crash” of May 6, during which the Dow Jones dropped 600 points in just a matter of minutes.

Posted on Oct 1, 2010 READ MORE


Ahmadinejad at U.N.









Posted on Sep 27, 2010 ENLARGE



AP / Pier Paolo Cito

Bracing for a New Food Crisis

The U.N. is warning that the world may be on the cusp of a new major food crisis as the result of a wave of recent environmental disasters (heat waves, floods, wildfires) and capitalist disasters (market speculation, inflation) that are pushing up the price of foodstuffs.

Posted on Sep 25, 2010 READ MORE


Paul Volcker
AP / Wong Maye-E

Volcker Unloads on Nation’s Finance System

In a spare-no-one, off-the-cuff critique, former Federal Reserve Chairman Paul Volcker delivered a blistering analysis of the nation’s financial system Thursday, criticizing banks, regulators, business schools, the Fed and money-market funds in a “plea for structural changes in markets and market regulation.”

Posted on Sep 24, 2010 READ MORE



AP / Oded Balilty

The China Superpower Hoax

How is a country with a lower per capita income than Kazakhstan, one of the worst environmental records of any major nation and a dictatorship, besides, hailed by so many as the next global superpower?

Posted on Sep 23, 2010 READ MORE


United plane
Flickr / Moto@Club4AG

Continental Unites With United

Shareholders of Continental and United Airlines have finally voted to form a more perfect United Airlines, merging the two companies under United’s name to create the world’s largest airline service, overtaking its closest U.S. rival—the newly merged Delta and Northwest Airlines—and European carriers.

Posted on Sep 17, 2010 READ MORE


SEC building
Wikimedia Commons / AgnosticPreachersKid

More Stocks Subject to SEC ‘Circuit-Breaker Rule’

Remember that crazy time back in May when the Dow Jones unexpectedly dropped by almost 1,000 points in only half an hour? Well, the SEC has finally worked in some protection against such sudden plunges by expanding the number of stocks subject to its current “circuit-breaker rule.”

Posted on Sep 12, 2010 READ MORE



Flickr / World Economic Forum

Greek Protester Throws Shoe at Prime Minister

Possibly taking a cue about resistance from the beloved Iraqi journalist who chucked his shoes at George W. Bush back in 2008, a 49-year-old doctor has thrown a piece of his own footwear at Greek Prime Minister George Papandreou in protest of the government’s economic austerity measures.

Posted on Sep 11, 2010 READ MORE


Bush's budget
AP / Pablo Martinez Monsivais

The Lowdown on Trickle-Down

Not like the truth will make a difference for the folks who watch Fox News, but the nonpartisan Congressional Budget Office has analyzed the short-term effects of extending George W. Bush’s tax cuts for the rich and concluded that doing so would be the least effective way to cut unemployment and spur the economy.

Posted on Sep 11, 2010 READ MORE



Flickr / Aapo Haapanen (CC-BY-SA)

China’s Great Wall of Traffic Back to Normal After 9 Days

Here in Los Angeles, we know gridlock and frankly we’re not impressed by what most people call “traffic,” but the Chinese are taking things to an extreme. China says a nine-day, 60-mile-long traffic jam is finally breaking up.

Posted on Aug 23, 2010 READ MORE



Flickr / soathevy

New Credit Card Rules Go Into Effect

New rules curbing credit card company shenanigans took effect Sunday, as restrictions on “unreasonable late payment and other penalty fees” will now block the companies from charging excessive levies if users, to cite just one choice example, do not use their cards.

Posted on Aug 22, 2010 READ MORE



Wikimedia Commons

Ganging Up on Alzheimer’s

A decision by scientists back in 2003 to share their findings on Alzheimer’s research has led to a “wealth of recent scientific papers” and important advances in moving to understand the disease and develop drugs to combat it.

Posted on Aug 13, 2010 READ MORE



White House / Pete Souza

The Socialist Who Coddles Business?

The titans of the private sector say President Obama is anti-business. Many progressives say he coddles business. How does the administration manage to pull that off?

Posted on Jul 18, 2010 READ MORE



AP / Carolyn Kaster

There’s Just No Pleasing Some Robber Barons

The flight from reason that now marks American public discourse came home for me last Friday when I found myself on public radio debating whether Barack Obama is anti-business.

Posted on Jul 13, 2010 READ MORE



Crisis of Capitalism

Today’s list features an amazing animation on the crisis of capitalism, a dispatch from a Gulf Coast media felon and a debate on the ownership of breasts.

Posted on Jul 6, 2010 READ MORE


Deepwater Horizon
AP / Petty Officer 2nd Class Scott Lloyd, U.S. Coast Guard

Oil Companies Awash in Subsidies

As the government weighs a tax on petroleum production to help pay for the Gulf spill cleanup—and as oil companies cry foul—a quick analysis of the U.S. tax code shows the oil industry to be one of the country’s most heavily subsidized.

Posted on Jul 4, 2010 READ MORE


capitalism and the jews

Zachary Karabell on ‘Capitalism and the Jews’

Jerry Z. Muller, a leading historian of capitalism, provides in his provocative new book a fresh look at a subject that, to say the least, has been both thoroughly misunderstood and a forbidden, even taboo, topic.

Posted on Jun 10, 2010 READ MORE



Flickr / Partido Socialist

Spain Bites the Bullet

As the euro continues to tank and European countries scramble to deal with shrinking economic forecasts, Spain has proposed slashing its spending plans by nearly 8 percent next year as it struggles to deal with financial turbulence.

Posted on May 28, 2010 READ MORE



Flickr / thaths

Millions at Risk in Africa Drought

With malnutrition already well past dangerous levels, some 10 million Africans will face extreme hunger over the next few months as the threat of famine floats across West Africa amid a drought that killed off last year’s crops and has left the region’s agricultural economy in ruins.

Posted on May 28, 2010 READ MORE



Wikimedia Commons

Former AIG Exec May Be Off the Hook

People close to the case are claiming that AIG executive Joseph Cassano will not face federal charges related to allegations that he misled investors over the company’s handling of mortgage-related securities prior to the economic crash and subsequent Wall Street bailout.

Posted on May 22, 2010 READ MORE



Flickr / soathevy

Retail Debit Fees May Be Capped

The beleaguered banking industry suffered yet another blow Thursday evening after the Senate voted to impose price controls on debit transactions, a move that follows years of begging by retailers for governmental limits on the high charges demanded by banks every time a consumer swipes a debit card. The amendment is in a bill that still must win Senate approval.

Posted on May 15, 2010 READ MORE



Wikimedia Commons

Former Chavez Amigo Jailed

A onetime comrade, and current critic, of Venezuelan jefe Hugo Chavez has been sentenced to eight years in prison on charges of abuse of power, misappropriation of funds and violation of the military code while an officer in the army.

Posted on May 9, 2010 READ MORE



Flickr / Nikolas Giakoumidis

Greeks Focus Their Rage on the IMF

While the genesis of Greece’s financial crisis may come straight out of economic textbooks, the recent intervention of the EU and now the IMF into Greek affairs has guaranteed popular resistance to the bailout—which many see as foreign subjugation of their country.

Posted on May 9, 2010 READ MORE



AP / Dimitri Messinis

Kanellos the Protest Dog

A stray dog named Kanellos has apparently been on the front lines of most major protests in Greece over the past two years. He is also the focus of a blog, the subject of a recent Guardian photo essay, and the inspiration for several YouTube video homages.

Posted on May 7, 2010 READ MORE


bookcover

Fred Branfman on ‘The Big Short’

Author Michael Lewis in his best-selling book takes us inside capitalism’s “doomsday machine,” and it’s your worst nightmare come true.

Posted on May 6, 2010 READ MORE


BP logo
AP / Charles Dharapak

The Capitalist Hagiography Has Little Room for Saints

Perhaps the most enervating element of the BP-Deepwater Horizon disaster is its eerie familiarity—the sheer, inexorable predictability of it all.

Posted on May 5, 2010 READ MORE


Morales
AP / Juan Karita

Nationalization Becomes Electric

President Evo Morales is pressing forward with his nationalization program in Bolivia, seizing four private electric companies Saturday morning. The government now controls 80 percent of the country’s power generation.

Posted on May 1, 2010 READ MORE


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