cookie monster
  • capthek

Interested in alternative viewpoints of our current financial crisis

All of the tv talking heads and print analysis tends to repeat some variation of the standard Neoclassical or even Keynesian logics behind what has gone wrong, what can be done to perhaps "fix" the crisis and what is predicted to come later. I am curious about any more radical interpretations or ideas. You can skim the below article for ideas. I agree that this is probably not "THE" crisis of capitalism, but it is a transformative point possibly leading to larger worker progress, yet also with the potential to just make things worse for workers. Feel free to include what the new American administrations effects could be. I see some neo-Keynesian and/or post-Keynesian new synthesis with investment in longer term infrastructure that could strengthen unions, workers, wages, living standards and even a more social form of capitalism. But, I also admit to spurts of self delusion. Thoughts?

Four Crises of the Contemporary World Capitalist System
William K. Tabb
http://www.monthlyreview.org/081006tabb.php
Read more...Collapse )
cookie monster
  • capthek

Another interesting article about the death of the objectivist and libertarian worldview

This new discourse out there is very interesting, and a long time coming.

RIP John Galt
by Devilstower
Sun Oct 26, 2008 at 03:06:15 PM PDT
http://www.dailykos.com/storyonly/2008/10/26/18615/754/931/640790
In 1966, Ayn Rand collected a series of essays into the book, Capitalism: The Unknown Ideal. Twenty of the essays in the were written by Rand. The rest came from a trio of Rand's acolytes, followers who had already been writing the newsletter of her "Objectivist" cult for more than a decade. Among these were three essays from a member of Rand's inner circle; an economic advisor and dropout from the graduate economics program at Columbia -- Alan Greenspan.

Greenspan was such a close friend of Rand's, that she passed him manuscript pages of Atlas Shrugged while the book was being written. He paid rapt attention to her tale of mysterious genius John Galt -- brilliant engineer, physicist, philosopher, and organizer. Galt, who shows the world who is really in charge by leading a rebellion of industrialists against laws that interfere with their companies, was in perfect agreement with the essays that Greenspan was writing at the time. In those essays, Greenspan rails against the "statists" and their desire to blame failures leading to the Great Depression on greed and unsafe lending practices. Instead, says Greenspan, the economy was experiencing a "mild contraction" which would have amounted to nothing, had the government not overreacted. Greenspan also attacks the "welfare state" and its schemes to "confiscate the wealth of the productive members of society."

When John Galt leads his his own inner circle of polymath geniuses to abandon the working classes and form a objectivist paradise, Greenspan must have cheered.

The essays Greenspan contributed to the 1966 collection, like the rest of the book, praised the idea of unfettered, unrestricted, unregulated, laissez-faire capitalism. Sure, there were problems in the system as it existed at the time, but those problems were not the fault of capitalism. Real capitalism, pure capitalism, had never been tried. Under pure capitalism, there would be a complete "separation of capitalism and state," and the resulting markets would be self-governing and self-correcting. It was only the intrusion of regulations into the system that brought on instability and immorality. Kick government out, and the system would not only flourish, but express the innate reasoning and positive force of selfishness.

Chief Disciple Greenspan carried this torch for the next half-century and beyond. Pro-business conservatives (not surprisingly) found great comfort in a philosophy that said squeezing every dime out of the system was not only fair, but the only moral solution. Not long after the publication of his essays in Rand's book, Greenspan was invited to become an advisor to the Nixon administration. When Ford replaced Nixon, Greenspan became the chair of the Council of Economic Advisors. And when Reagan took power, Greenspan was no longer the voice crying in the wilderness, he was the very center of the establishment. Objectivism and Conservatism had united in Market Fundamentalism, and that force was on a jihad against regulation of any kind.
Read more...Collapse )
cookie monster
  • capthek

Back to the future, are we facing a stagflation crisis similar to the 1970s?

"One hundred dollars means that current oil prices are where they were in 1972 in inflation-adjusted terms. That's when the fears of a U.S. recession will come to the forefront."

Signs of slowdown eyed in earnings deluge
http://news.yahoo.com/s/nm/column_stocks_outlook_dc;_ylt=AnHm5Leu9hKDpb5KUjD8tdFhr7sF
By Jennifer Coogan Sat Oct 20, 11:27 AM ET

NEW YORK (Reuters) - Stock investors looking to recoup from the worst week in almost three months will have to keep one eye out for signs of weakness in the tidal wave of earnings due next week and the other on the threat surging oil prices pose to the economy and profits.
Read more...Collapse )

new age of movie makers

http://30coins.com/iconography2.0.DivX.avi 470Mb

ICONOGRAPHY 2.0 is the audio-visual project, which combines the art-visual representation of particular internet influence,
social investigation and electronic music mixtures.
ICONOGRAPHY 2.0 is inspirated by virtual universe of MOVING AVATARS, internet user's representation of himself/herself in the form of three-dimensional/two-dimensional icon with recurring motion picture. Each avatar is the mirrow of internet user’s personality, it's like short but capacious film regarding the alter-ego of ones inner life. That is the point to understand ICONOGRAPHY 2.0, the amusing brand-new sociological video-art work, refering to case study, pioneer research of human types of I-net users community.
ICONOGRAPHY 2.0 consists of over 2000 existing avatars, basically taken from internet forums, blogs and etc. The concept of ICONOGRAPHY 2.0 are sountracks accompanied consecutions of avatars, showing the types of self-representation of I-net users. Sanskrit word Avatara means "the descent of God" or simply "incarnation." Thus, ICONOGRAPHY 2.0 investigating live-telling story of on-line humans descent, but first of all it's the joyful affecting trip, during which people recognize themselves.