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Tag: Capitalism


AP photo / Hasan Sarbakhshian

A War of Self-Destruction

An attack on Iran, which Israeli and Bush administration officials appear set to carry out if Iranian uranium enrichment is not halted, would ignite a regional war in the Middle East and lead to economic collapse and political upheaval in the United States.

Posted on Aug 4, 2008 READ MORE


Elaine Chao
flickr.com

Unemployment at a Four-Year High

A government report released Friday signals worsening economic tides as the U.S. tries to navigate through its highest level of unemployment in four years. The seven-month-long trend of net job losses is likely to persist, with few signs of a turnaround on the horizon.

Posted on Aug 1, 2008 READ MORE


Pascal Quiet
boston.com

New World Trade Treaty Plowed Under

The World Trade Organization talks in Geneva finally imploded Wednesday, as negotiations over farm subsidies and labor standards collapsed into an immovable standstill between wealthy and poorer countries. The talks, defended heavily by the “developed world,” are seen by critics as an instrument to serve corporate interests.

Posted on Jul 30, 2008 READ MORE


Detroit Homeless Shelter
Detroit News / Ankur Dholakia

Chronically Homeless Numbers Down 30%, U.S. Claims

In the face of a U.S. housing crisis and a troubled economy, Bush administration officials claim that the past two years have seen a 30 percent drop in the levels of chronically homeless people, crediting the decrease to a strategy of finding permanent shelter for the long-ignored disabled and addicted.

Posted on Jul 30, 2008 READ MORE


Hong Kong Protest WTO
flickr.com

Second Wind for WTO Talks?

While supporters of the much troubled Doha Round of the World Trade Organization believe talks may have found their second wind, only the world’s largest economies seem to be breathing. The form of capitalism supported by these countries is resisted by poorer nations, which rightly fear WTO deregulations would disproportionately benefit the wealthy.

Posted on Jul 25, 2008 READ MORE


Nam Theun 2 Dam
namtheun2.com

World Bank Finds Itself Wanting

The World Bank is being criticized for a persistent lack of environmental focus in an internal review of its lending activities. The new report rails against the environmental degradation caused by many bank-funded projects in poor countries that harm local communities in the name of “development.”

Posted on Jul 23, 2008 READ MORE


book cover

William Pfaff on General Motors

Are workers to blame for the fix that General Motors (along with many other corporations) is in? A new book by Roger Lowenstein argues that they are. He couldn’t be more wrong.

Posted on Jul 18, 2008 READ MORE


gas prices
AP photo / Lisa Poole

Inflation Runs at a 26-Year High

The once-mighty U.S. dollar is full of hot air, or at least the rate of inflation is at a 26-year high due to the recent economic toils and astronomical energy prices. Prices U.S. consumers pay shot up 1.1 percent in June—or more directly, your paycheck just got 1.1 percent smaller.

Posted on Jul 16, 2008 READ MORE


Wall Street Socialism Meets Disaster Capitalism

Freddie Mac and Fannie Mae were always more foul than fish, says Robert Borosage, and the bailout announced by the Treasury secretary over the weekend will mean “private speculators, having driven the stock down, will clean up on the upside.”

Posted on Jul 15, 2008 READ MORE


Furriners Buy Bud!

For $52 billion, Belgian beer giant InBev will gain control of Anheuser-Busch, the mighty producer of Bud Light and Budweiser, America’s #1- and #2-selling beers, respectively. In one swoop, the Euro brewery secures half the U.S. market.

Posted on Jul 13, 2008 READ MORE


Mexico Food Protest
treehugger.com

Biofuels Blamed in Global Food Crisis

While environmentalists and opponents of foreign oil may have found common cause in the use of biofuels, a new, confidential World Bank report estimates that the recent increase in plant-based fuel production has actually contributed to a 75 percent rise in global food prices, sparking riots across the world and pushing millions beneath the poverty line.

Posted on Jul 4, 2008 READ MORE


book cover

Ruth Rosen on ‘The Populist Vision’

Do the socially progressive ideals that jump-started 20th-century reform movements have lessons relevant to the concerns of 21st-century America? A new book makes a strong case that they do.

Posted on Jul 3, 2008 READ MORE


Blackwater guard
Salon.com

Private Contractors in Iraq to Lose Immunity

The folks at Blackwater and other private security outfits in Iraq encountered a dramatic setback Wednesday after an Iraqi minister announced that private guards will no longer be given immunity from U.S military and Iraqi law, ending more than five years of unregulated mercenary violence in the country.

Posted on Jul 2, 2008 READ MORE


Wal-Mart
cnbc.com

Wal-Mart Employees Are Restless

Wal-Mart may be fined by a Minnesota judge for violating the state’s employment laws. The fines are for ‘‘contractual violations,” a fancy way of saying that Wal-Mart denied rest breaks to workers at least 1.5 million times.

Posted on Jul 2, 2008 READ MORE


Googlehand
businessweek.com

Inquiry on Search Partnership

A recent advertising partnership between search giant Google and competitor Yahoo has antitrust authorities worried. Not only does a Google-Yahoo deal look ridiculous in name, but critics (such as Microsoft) say the partnership would consolidate Google’s control of Internet search ad revenue to a whopping 90 percent of U.S. market share.

Posted on Jul 2, 2008 READ MORE


Haitian Children At Well
picasaweb / gohaitimission

U.S. Withholds Loans in Water-Starved Haiti

The U.S. is under heavy criticism by human rights groups for withholding funds for clean water projects in Haiti as leverage for U.S.-led political reform in the country. A total of $54 million in loans to Haitians—70 percent of whom already lack daily access to potable water—is being delayed.

Posted on Jun 25, 2008 READ MORE


Band Aid Tins
urbanprarie.net

Wounds Heal in Red Cross Dispute

After coming to its public relations senses, medical firm Johnson & Johnson has decided it wouldn’t be wise to proceed with a lawsuit against the Red Cross charity over a trademark agreement made in 1895. The initial case was brought by the firm after the Red Cross began to sell safety kits to fundraise for its many disaster-relief campaigns.

Posted on Jun 18, 2008 READ MORE


Fiat Chief on the Global Finance Crisis

The Italian-Canadian chief executive of Fiat, the leading Italian industrial enterprise, Sergio Marchionne, speaking about the present economic crisis last weekend, mentioned the well-known argument first made by the Austrian-American economist Joseph Schumpeter about the function of “creative destruction” in modern capitalism.

Posted on Jun 16, 2008 READ MORE


Halliburton Sign
pjvoice.com

Private Contractors ‘Mismanaged’ $23 Billion in Iraq

A BBC investigation on U.S. war profiteering estimates that $23 billion of taxpayer funds has been “lost, stolen, or not properly accounted for in Iraq.”

Posted on Jun 11, 2008 READ MORE


Iowa Farm Autumn
flickr.com

Bush Vetoes Farm Bill

Without batting an ironic eye, President Bush has vetoed a $289-billion farm bill, claiming the legislation gives too much money to wealthy farmers. The bill includes steps to spur biofuel use and would expand nutrition programs to help poor Americans buy food. The Democratic Congress is expected to override the veto.

Posted on May 21, 2008 READ MORE



Flickr / azrainman

$10.9 Billion Ain’t What it Used to Be

Exxon Mobil made $10.9 billion last quarter, but investors were disappointed that the world’s biggest oil company had only its second-biggest quarter ever. With a product that is harder and harder to find, shareholders who demand even bigger windfalls and consumers who are about ready to revolt, you almost have to feel sorry for the oil companies. No, you really don’t.

Posted on May 1, 2008 READ MORE


Thomas Friedman Smells
detestablephrases.wordpress.com

World Is Flat and Full of Meringue

Thomas Friedman, global capitalist and semantically inept columnist for The New York Times, was gastronomically assaulted by pie-throwers at Brown University on Earth Day this week. At issue was Friedman’s laissez-faire attitude toward solving global environmental issues, which protesters felt was structurally inadequate and ultimately regressive.

Posted on Apr 25, 2008 READ MORE


Mexico Food Protest
treehugger.com

G-7, IMF and World Bank Leaders to Meet

Following the string of economic crises across the globe, financial elites are planning to meet in Washington this weekend to address how to resolve the problems of global capitalism. Notably missing from the proceedings is any representative from the developing world.

Posted on Apr 11, 2008 READ MORE


The Long, Sorrowful Ludlow Legacy

A straight line can be drawn between the 1914 labor massacre in Colorado and today’s killing fields in Colombia. And one of the villains in both cases is the U.S. government.

Posted on Apr 10, 2008 READ MORE


The USS Economy

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Posted on Apr 10, 2008 READ MORE



AP photos / left: Gautam Singh / right: Uwe Lein

On Secular Fundamentalism

The battle under way in America is not a battle between religion and science. It is a battle between religious and secular fundamentalists. It is a battle between two groups intoxicated with the utopian and magical belief that humankind can perfect itself and master its destiny.

Posted on Apr 7, 2008 READ MORE


Slap Down ‘Free Market’ Pirates

For years, District Attorney Robert Morgenthau has warned that the nexus of capitalism and criminality poses a serious threat to America.  With Bear Stearns now in ruins, maybe we will listen to him.

Posted on Mar 26, 2008 READ MORE


Greed Is Not Good

The housing crisis brings to mind Gordon Gekko, that fictitious ambassador of Wall Street whose words, then and now, remind us why uninhibited capitalism just doesn’t work.

Posted on Mar 24, 2008 READ MORE


New Crisis, Old Isms

The Federal Reserve Bank’s decision last week to address the housing crisis by extending $200 billion of taxpayer-financed credit to Wall Street banks was met with a stunned reaction typical of surprising events. But really, the move was the expression of longstanding isms that routinely package corruption as sound public policy.

Posted on Mar 21, 2008 READ MORE


Too Big to Fail

The government spread out a nice, soft net to catch the collapsing financial firm Bear Stearns. But if you’re a little guy who gets in trouble, expect to meet up with a somewhat harder surface.

Posted on Mar 20, 2008 READ MORE


Kevin Martin
blogspot.com

FCC Cashes In on Spectrum Auction

After two months and 261 rounds of bidding, the FCC announced Tuesday that it has raised a total of $19.6 billion from the sale of the U.S. wireless spectrum. The revenue, slated to fund “public safety and digital television transition initiatives,” is nearly double what Congress had previously estimated for the publicly owned spectrum.

Posted on Mar 19, 2008 READ MORE


Be Careful What You Wish For

Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries, and how government should keep its hands off the private economy.

Posted on Mar 18, 2008 READ MORE


book cover

Mark Arax on California’s Capitalist Founders

It is said that behind every great fortune there is a crime. Here’s a true-life drama of self-invention, greed and ambition involving four larger-than-life men who singly, and together, helped create California. A book to be read after you’ve watched “There Will Be Blood.”

Posted on Feb 7, 2008 READ MORE


supercapitalism

Benjamin Barber on ‘Supercapitalism’

Can an overheated market remedy an underachieving democracy?  Can the public interest be served by an economic engine in which corporate rivals use government to quash their competitors?  These and other questions are the subject of a provocative new book by Robert Reich, labor secretary under President Clinton.  Benjamin Barber, author of “Jihad vs. McWorld” and “Consumed,” takes a close look at Reich’s argument.

Posted on Dec 13, 2007 READ MORE


Free Market Madness

With Labor Day approaching, it must not go unnoticed that Angelo Mozilo, chief executive of Countrywide Financial—the company that has helped drive world markets into turmoil with its lending—raked in $42.9 million last year. The Nobel laureate Harold Varmus, chief executive of the Memorial Sloan-Kettering Cancer Center, was paid $2.5 million.

Posted on Aug 30, 2007 READ MORE


Big Shots

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Posted on Jun 14, 2007 READ MORE


Ellen Goodman: Bob the Un-Builder

Home Depot CEO Bob Nardelli’s golden parachute doesn’t just speak to the inequality of income in America, appalling as it may be, but raises another issue just as troubling: the inequality of risk.

Posted on Jan 11, 2007 READ MORE


Powell: Who’s the Greediest of Them All?

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Posted on Jan 5, 2007 READ MORE


How Cubans Make It Work

Since the dissolution of the Soviet Union in 1991 removed much of the padding from Cuba’s economy, Cubans have found some creative ways to alleviate the financial hardships of life under the communist system.

Posted on Jan 4, 2007 READ MORE


Moyers
wikipedia.org

Bill Moyers’ Parable

The former minister, press secretary and veteran journalist works his way through Christian allegory and lessons from our nation’s history in fashioning this powerful essay on the American experience and the stewardship of democracy.

Posted on Dec 24, 2006 READ MORE


Capitalism-vs.-Socialism Debate Erupts in China

Amid China’s explosive market-driven growth over the past decade, it’s sometimes hard to remember that it is technically a communist country. A dispute over property rights has brought the issue to the fore.
Truthdig’s Orville Schell examined this schism here.

Posted on Mar 12, 2006 READ MORE


James Prior

The ‘Slave Side’ of NFL Sundays

In his new book, “The Slave Side of Sunday,” former NFL player Anthony Prior writes about the legacy of racism in professional sports. “We are not looked at as leaders, rather, just a labor force where the money is generated. Plantation capitalism is still alive today,” he tells Truthdig contributor James Harris. (Audio and text interview with the author.)

Posted on Mar 9, 2006 READ MORE


“The Slave Side of Sunday” - James Harris Interviews Anthony Prior

In his new book, “The Slave Side of Sunday,” former NFL player Anthony Prior writes about the legacy of racism in professional sports. “We are not looked at as leaders, rather, just a labor force where the money is generated. Plantation capitalism is still alive today,” he tells Truthdig contributor James Harris.

Posted on Mar 9, 2006 READ MORE


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