[identity profile] htpcl.livejournal.com
Greetings, my Lenin followers worshipers of freedom-dom & democracy-cy! An ongoing case here at the ass of the Balkans (which in turn is the ass of Europe) is causing a lot of discussions on the subject of private and public interests and their role in the state affairs. Is a sensible equilibrium even possible between them? And what's needed to maintain it? Not an easy question.

I don't watch much TV, but when I occasionally do, I always somehow happen to come across some weird folks fuming over political issues for hours and hours on. So a few days ago I saw this TV political talk-show host, with his greased hair and predatory look in the eyes, wanking all over his interlocutor who looked rather shy but intelligent well over the average level you might expect to see on such a show. The question was, "Aren't we returning to communism these days, now that the state has proposed to buy off the failed non-ferrous metal processing plant in the underdeveloped region of Kardzhali?" The other guy just gave the host an odd look, which prompted Mr Greasyhair to go on with his rant, "Is it commie times all over again? We're returning to September 9, 1944, right? We're effectively sliding back down with all this nationalization! Do you have anything to say on that, Sir?"

Frankly, I would've just stared at him and maybe burst into hysterical laughter, or something. Or just say, "Cheers, mate! To communism!" But the other guy obviously had nerves of steel, and quite some spare time on his hands, so he started to calmly explain that similar measures are often taken in some of the most developed democracies in the West, including in America and the "more normal" EU member states, and this isn't the same thing as the nationalization of entire sectors (like in Russia), but rather an effort to find a sensible balance between private and public interests, and obtain a structure of the economy that might actually work better. Of course the host would have none of it, and he interrupted the guy so many times that the latter just gave up eventually.

Here's the thing, though. )
[identity profile] ddstory.livejournal.com
http://www.ft.com/intl/indepth/capitalism-in-crisis

For almost a month the herald of capitalism, the British newspaper FT has been compiling this section about the state of world economy. Various observers, economists, politicians and entrepreneurs from around the world are having a debate around the FT pages. The whole thing is called "Capitalism In Crisis". It's like Oservatore Romano, the official newspaper of the Vatican coming out with a critique of the Catholic church, could you imagine that happening?

The general consensus of the experts on FT sounds pretty grim. And it could be summarized with the gloomy conclusion: the form of ultra-liberal and unregulated capitalism from the 80s no longer works. These words fit more to any statement by the French socialist presidential candidate Francois Hollande. But no, they appeared on the pages of one of the most influential newspapers in the business world. Publications like these are an important signal 3 years after the beginning of the crisis, and FT keeps coming up with those heavy verdicts after the meeting in Davos. Of course there are various schools of thought there, just like in any other sphere. These tendencies are having a free-for-all showdown across the pages of FT, WSJ and The Economist.

Read more... )
[identity profile] kinvore.livejournal.com
http://www.dailykos.com/story/2012/01/21/1056826/-Apple-and-Unbridled-Capitalism?via=spotlight

Believe it or not, despite being an Arch Liberal TM I seldom read Daily Kos, and when someone directs me to a story there I take it with a huge grain of salt. However I've heard this story from various sources so it's pretty much verified.

Foxconn manufactures many of the nifty electronics we use today, including the Kindle, iPad, iPhone, PlayStation 3, Xbox 360 and Wii. They keep their workers in compounds behind guards with automatic weapons. They are crammed 8 to a room. They work long hours for a pittance, and the pressure is taking its toll. Their work force has had numerous suicide attempts, many of which have succeeded.

Foxconn's solutions so far have been anything but exemplary. They've placed bars in windows and nets between buildings to keep people from jumping. They've had their employees sign "no suicide" pledges. They keep trying to address the symptom without even bothering with the cause.

What I find most ironic is if the workers try to form a union they'll receive a 12 year prison sentence. That's right, in Communist China they can't form a union.

You can't keep treating people this way and not expect some sort of reaction. This is the true face of class warfare, my friends. To me this is the inevitable result of unbridled capitalism, and why we need to keep regulations in place and to protect worker's rights. These people in China and elsewhere are paying a heavy price so that you can have a cheap smart phone.

(BTW if this was already discussed then I apologize, as you may or may not know I haven't been active lately.)
[identity profile] dreadfulpenny81.livejournal.com
I'll be the first to admit I don't know EVERYTHING about politics. Financial aspects are not my forte. Last night I was watching America: The Story of Us through the History Channel and something struck me.

According to the documentary, there was an incident with a merchant in New York City who read in the paper about the instability of certain banks, including Bank of United States, where he had his deposit. When he tried to withdraw his funds, the bank was hesitant because they'd apparently been cooking the books and had most of their security tied up in their patron's deposits. Some rumor started that the bank was going to fail and that caused a run where, by the end of the day, over $2 million in cash was taken out by customers closing their accounts. This somehow started a chain reaction of bank runs all over the country. Combined with an already unstable economy, this fueled the Great Depression.

We now find ourselves in a similar situation. We have an unstable economy and recently, groups of people were moving their funds from one institution to another (or possibly closing their accounts all together). This time, banks have been "bailed out" and our government also has the FDIC and other agencies in place. But I have to wonder -- is there a possibility history could repeat itself, and is that what the recent Bank Transfer Day was trying to accomplish?
[identity profile] mahnmut.livejournal.com
Forget OWS, it's Black Friday!

Woman pepper sprays other Black Friday shoppers
A woman trying to improve her chance to buy cheap electronics at a Walmart in a wealthy suburb spewed pepper spray on a crowd of shoppers and 20 people suffered minor injuries, police said Friday.

Footage from the latest spontaneous grassroots gathering:



It is our duty, as greedy generous and retarded reasonable folks who care about getting the latest junk on the mall bringing liberty and democracy to this society, which has been blessed by all the awesome products of toy-making, textiles and electronics plagued by the ailments that are inherent to capitalism... to flock to the gates of all commercial premises throughout the country in the middle of the night occupy the streets and make our voice heard by those in positions of power, who make all those awesome gadgets and sell them at a 75% discount have brought these times of strife upon us all.

Let us get first in the queue, using elbows and fists stand as one, in the name of the best bargain a better world, full of gorgeous cheap stuff social justice, and devoid of whiny old ladies who can't climb stairs hatred, violence, greed and corruption! We're just a bunch of blatant consumers who'd stop at nothing to get that Barbie doll ordinary people, like me and you, the salt of the land, and we care about bringing the latest iPod under the Christmas tree, at 25% of its original price our brothers and sisters who are having a hard time making ends meet.

Long live Walmart, aw hell yeah! God bless America!
[identity profile] sophia-sadek.livejournal.com
When reading various accounts of anti-Communist policy by American political insiders, an idea recurs again and again. The problem is invariably described as one of Soviet aggression. War on the Korean peninsula: Soviet aggression. Mosaddegh deposes the Shah: Soviet aggression. Batista falls to Castro: Soviet aggression. South Vietnam spirals into civil war: Soviet aggression. Brutal dictatorships in Latin America are threatened: Soviet aggression. India shuts down East Pakistan: Soviet aggression. Tribal conflict and religious fanaticism tear Afghanistan apart: Soviet aggression.

With all of this aggression, you would think that the Soviet Union was a capitalist empire. After all, capitalism depends on aggression for its continued existence. The termination of aggression spells doom to capital expansion. Instead of eating the young of other lands a collapsing capitalist economy is force to eat its own young.

Scholars of the Austrian stripe tend to look the other way when confronted with the historic aggressions of the capitalist system. As Marxists blame all of their mistakes on counter-revolutionaries, Libertarians blame the bad aspects of capitalism on socialist impurities such as human weakness. The system is strong and good, but the staffing is weak and vicious. The message seems to be that "pure" capitalism is as impossible as travel at the speed of light. The only reason to continue promoting the idea is so that weak capitalists will continue funding the Austrian school in order to make themselves feel better. The words "running dog lackey" come to mind for some strange reason.

When Managua and Havana supported rebel guerrillas attempting to overthrow the corrupt death squad dictatorship of El Salvador, which side did American capital take? I'll give you a hint: it was not the side opposed to death squads. Capital loves an investment climate that is conducive to a substantial return on investment. This makes any regime that promotes wage slavery a pro-capital regime. The horrors of organized labor, public education, and accessible health care are obstacles to a hefty return on investment. As such, they are considered "aggressions" against property, whereas death squads are considered friendly to property.

A more recent example of death squad activity emerged under the heavy boot of American occupation in Iraq. Bodies cropped up like mushrooms with drill holes in their knee caps. It is a good thing US forces were there to prevent a bloodbath. They kept it down to a bloodshower instead. Good show, troops! Capital is proud of you.

As a child my mother recounted what it was like to have the Klan visit the neighborhood and burn a cross. As a young adult, a Klan member asked me why I was so down on the Klan. Do you have any experience with a death squad in your neighborhood?
[identity profile] pastorlenny.livejournal.com
Many self-appointed defenders of capitalism seem to be embracing an ethical philosophy of finger-pointing.  With one of these fingers, they point to a government that overspends, over-regulates and under-delivers.  With another, they point to the supposed failure of large numbers of individual citizens to demonstrate adequate drive or to appropriately pursue the new opportunities emerging in a world where many of the old ones have ceased to be.
 
This abdication of responsibility for our present woes is, of course, quite telling.  It implies that private enterprise – and, more specifically, the leaders thereof – cannot function as moral agents in a free society.  Managers of capital, apparently, did not cause our problems.  Nor can they solve them.  Our salvation, according to present rhetoric, is for government to do less and individual citizens to do more.  Business leaders are, according to these voices, impotent against both the hyperactivism of one set of villains and the passivity of the other.

You know you can never get enough of my learned pontification. )

[identity profile] meus-ovatio.livejournal.com
Friends, enemies, let us come together in good spirits and faith to remember a great man who saved capitalism. Many Americans are not quite aware of just how close the US and A came to failing. The ravishes of the Great Depression and the global chaos which ensued sparked a seething cauldron of extreme discontent. In the 1930s, as Fascism was on the march, Communism spreading it's insidiousness, the US and A stood poised on the brink. Wall St. hatched secret plots to recruit disgruntled veterans. Labor groups fell sway to communist agents. And of course, the booming Sicilian, Jewish and Irish "businesses" stood ready to play kingmaker. As the Great Depression wore on, there was but One Man who played the sides, wheeled and dealed, and saved capitalism. Of course, I speak of FDR(Peace Be Upon Him). All of us good men and women of the US and A should raise our glasses to the hero of capitalism. Let us never sully his good name with disrespect, for without him we would all be locked in chains or thrown into dungeons. Come, let us come together in our own hard times and remember this example, and draw strength from it.

If you don't, you're probably a Nazi.
[identity profile] sophia-sadek.livejournal.com
Plutocracy is not simply a name for a type of political economy, it is also a name for an existing group of movers and shakers that existed before the advent of recorded history. The name derives from Pluto, the god of the Underworld. As there are two types of plutocracy so are there two types of underworld: the underworld of the imagination where fundamentalists spend eternity regretting their mistakes as they suffer through the infernal complaints of their in-laws, and a very real entity with which anyone involved in NYC refuse disposal knows personally.

The ideal form of plutocracy can be described as the rule of dead rich people from beyond the grave. The practical form of plutocracy can be described as the rule of the children of dead rich people, including Sicilian waste disposers and their ilk. Midwest fundamentalists may try to distance themselves from their wine bibbing brethren on the Jersey Shore, but the family resemblances belie their protests.

John D. Rockefeller was a midwestern fundamentalist who intersected with the immigrant hoodlums when they tried to extort protection money from him. His daughter-in-law, a child of Pluto in her own right, had convinced her husband, the heir of the aging Titan of Oil, to build a relatively modest palace for the old man. Most of the construction laborers were craftsmen imported from the Old World domain of sunshine, olive oil, and irresistible offers. Their feudal overlords expected a cut of the action.

There were other intersections with less southern thugs that predated this twentieth century incident. Violence and corruption were employed in building a pipeline from the oil fields of western Pennsylvania to the shores of New Jersey. (Rockefeller decided to cut out the middlemen of the rails in exporting Pennsylvania crude to European markets and coastal refiners.) A suspicious sabotage incident also occurred after an employee from a Rockefeller subsidiary joined a competing refiner in Buffalo, NY.

Rockefeller built his global empire at a time when private property could be reigned in by neither market forces, nor by popular will. The Ludlow Massacre demonstrated the power of private property to snuff out innocent life with impunity. The attempt by the Feds to break up the multinational behemoth only created a hydra of an organization that continued to accumulate property at the public expense.

Do you agree with the pundits of plutocracy who try to smear themselves with the blood of Minutemen in order to mask the blood of babes? Do you believe the pundits of plutocracy when they claim that returning to the private property of George III represents the future of liberty?
[identity profile] mintogrubb.livejournal.com
I have come on this forum before and praised the Free Market ( or Capitalist/ Corporate interests 0 for delivering a much cheaper and more efficient phone service than the State could provide.

However, when the Corporations/Free Market/ Private Money moves into health care, there are problems.

http://www.greenparty.org.uk/mediacentre/releases/10-09-2011-conference-adrian-ramsay.html

As Adrian Ramsey points out in the section marked 'NHS', Previous governments have attempted to bring not just private money, but corporate logic into the NHS.

The net result is that Doctors are now being forced to compete, and not co operate in saving lives and improving health outcomes.

Whereas before, a new improvement was to be shared among dedicated professionals, new techniques are now regarded as 'trade secrets' to be guarded in order to out perform other health trusts.

So, my take is that competition is good in the phone industry( an analysis backed by the BBC on the links I provided in that discussion). However, competition and opening up the NHS to private enterprise and the competition culture is not good for the NHS.
[identity profile] sophia-sadek.livejournal.com
The basic paradigm of capitalism is one of material ownership and control, especially by private individuals. A peasant from Europe or Asia is lured into the sphere of material accumulation with the glitter of gold and sex-appeal. Once they have been captivated they can be worked to the bone in a futile attempt to make ends meet. In this way they create more material wealth for those who already possess a great deal of it.

What burden does material possession place on the shoulders of the possessor? Do the children of the affluent experience a better life than their middle class peers? If they lose a toy, a replacement can be had easily and quickly. There is no adjustment for doing without a comforting object. On the other hand an affluent child has the resources to travel to exotic lands and wind up in the stew pot of isolated cannibals. That is an experience that the middle class child would prefer to do without.

An affluent child can afford to get so drunk that he drives off of the road and takes a life without the penalties imposed on a middle class child. If a magistrate will not accept a material gift, she can be removed from the bench by more sinister methods. Public officials learn to treat the pampered brats in the fashion to which they have become accustomed.

This is not real wealth but merely material wealth. It is an illusion that ensnares all those who pursue it and who inherit it. Its burdens are harsh and ugly, dehumanizing all who are forced to bear them. Friendships for the materially wealthy are obsequious and threatening. It is no wonder that so many children of the affluent have been driven insane.

Material wealth can be given and it can be taken away. It has no permanence. It confers no higher qualities on the owner. Instead, it places restrictions on the paths for personal development. The responsibilities of managing material wealth detract from the pursuit of a fuller human experience.

There is greater wealth to be had in eschewing the trappings of ownership. When we walk to our destination we have a richer experience than we do riding there. When we travel by bicycle we feel more personal achievement than when we travel by motor power. When we read a book we get more out of the experience than watching the movie. When we have diverse relationships we experience a family far greater than that of a single household. That kind of wealth cannot be transferred.

What does wealth mean to you?
[identity profile] peristaltor.livejournal.com
Yes, that's a pretty goading subject line. It's supposed to be. Here's my backing evidence.


George Stephenson's Rocket, the first
commercially practical steam locomotive.


This is the beast that started it all, The Rocket. In 1829, this coal powered locomotive won the prize offered for practical mechanical means of conveyance. Coal had been fueling industrial production for a century prior to the Rocket; wind, captured by sails, had been bringing raw materials to and delivering finished goods from those coal-powered factories.

It is metaphorically satisfying to talk about threads being woven together when talking about cotton, but the thread that mattered to the Liverpool & Manchester Railway was made of iron: thirty miles of it, smelted, forged, and wrought in ironworks . . ., and laid down as rails between the two cities that were now producing, in their mundane way, more wealth in a year than the entire Roman Empire could in a century.

(William Rosen, The Most Powerful Idea in the World: A Story of Steam, Industry, and Invention, Random House, 2010, p. 303.)


By the 1820s the choke point was overland transport. The distance between Liverpool's docks and Manchester's factories still had to suffer track cart deliveries at a horse team's pace.

The Rocket changed all that. )
[identity profile] gunslnger.livejournal.com


I am encouraged to see a Harvard professor correctly explain some things about capitalism. You would do well to listen to this. A lot of people here seem to believe the myths that he's busting, especially the third one.

I would also recommend watching other videos in the LearnLiberty channel.
[identity profile] allhatnocattle.livejournal.com
More friday lulz posts in TP then usual might be sign of the collective nervousness. The markets took a dive, national credit ratings were downgraded and revelation that the economic recovery was not as strong as indicated earlier. Not all confidence has been lost, but we are a little bit more nervous then we were last week.

Read more... )
[identity profile] meus-ovatio.livejournal.com
Imagine a world, if you will, where rich and powerful people go to sleep, and when they wake up, 50 miles of railroad track have been magically laid, caused by nothing other than the dreaming of such angels.

Movies! )
[identity profile] mintogrubb.livejournal.com
In the Uk, we call CEOs 'Company Directors' - but the fact is , they still earn far more than the people at the bottom of the pay scale. i forget where i read it, to be honest, but I'm pretty sure that they used to earn about 20- 30 times as much as the people on the bottom a few decades back - but now in the UK, they earn almost 100 times as much as the poorest workers do.

the rich are getting richer and the poor are getting poorer. The problems happen when people like 'Fred the shred' take out loads of midddle layer people and pocket the difference. It isn't that the organisation got better, it's just that the workload for middle layer managers increased, and there was less payout on wages and salaries.

And for this, Fred gives himself a bonus.

now the Cameron government is in on the act. The "Big Society" simply means that one guy gets paid a few grand a year to mow the grass on the village playing field. the government fire him and get some other guy to do it on a voluntary basis, and the other guy goes on Welfare.

So, instead of paying a bit of income tax, he is now picking up taxpayers money instead - but the government is still saving money on one side of the balance sheet and not telling us the rest.

What ought to be happening is a big investment to keep people in work - useful, community based services instead of the arms industry, for sure, but paid employment trumps a welfare payout, right?

And this could be afforded if we closed the tax loopholes. The fact is that if you live in the UK, you can simply sign everything over to your wife, have yourself be paid a salary by a limited company that she owns, and stuff all the excess money into an off shore tax haven, where it collects minimum taxes and you can pick it up and take it with you when you choose to retire. I kid you not, this really happens.

A system whereby CEOs could only earn 10 times what their lowest paid worker earns would handle the wealth distribution problem better than taxing the rich directly- yes, let the bankers have a hundred grand in salaries and a big bonus besides - so long as the workers who make it happen share the wealth and get at least 10% of what the fat cats earn.

And why not close the tax loopholes too? Rather than closing schools and hospitals that serve the whole community, we should be closing tax loopholes that only serve the very rich. rather than putting people out of work, we should be putting our house in order and having a more equal pay scale, with less of a gap between the top and bottom earners in our society.

We are not all in this together - some of us are going first class and the rest of us are travelling in steerage.
[identity profile] sophia-sadek.livejournal.com
A member of this community made a reading recommendation for a thin tome on plutocrats. I looked in vain for the text at our local public library, so I went to the regional library system to find that only two copies of the book were available. The request was satisfied by a suburban Catholic college library. In essence, the book holds up a half dozen plutocrats throughout the history of American industrial development as paragons of virtue. The author makes the argument that these esteemed gentlefolk created the wealth of the nation.

In order to come to such an understanding, the author, Burton W. Folsom, Jr. had to completely ignore the processes of wealth creation and focus solely on the processes of wealth accumulation. His blinders caused him to see the apex of the pyramid with the remainder shrouded in a fog of delusion.

Folsom's tribute to the plutocracy is not without merit. It shows us why some people value capital accumulation and the people who have exceeded in the Rat Race. It also shows us how competing plutocrats use the tools of governance and deception to accomplish their ends. By looking at the way Folsom ignores the loose cannon aspects of the policies of a plutocrat such as James Jerome Hill, we can come to an understanding of the essential distinction between a Left-Libertarian and a Right-Libertarian.

What is wealth? How is wealth created? How is wealth destroyed? How is wealth preserved? Who is ultimately responsible for managing the wealth of any given nation?
[identity profile] thies.livejournal.com
It's a little odd, in arguing trade deficits and economy at large with someone, with one of the arguments being that if chinese goods sold here are cheaper, then so be it got to be all capitalistic about it. Sooo the chinese communist model is better at trade than the US? It kinda shoots the "we are getting closer to socialism and it's baaad for us!" argument somewhat in the foot.
[identity profile] mintogrubb.livejournal.com
It amazes me how often people take me for someone of the Upper Classes. Ok, I am a Brit, and went to boarding school, but I got sent there by the State, and I believe very much in having a Welfare State, but not abusing it.

Having said that, I want to turn my attention (and hopefully yours) towards capitalism and British Society as I see it today. Perhaps it was the Industrial Revolution that I have to thank for the fact that i am priviledged to be able to sit and write at this computer. After all, the Industrial Revolution gave my ancestors an alternative to farm work, and created the wealth that the State used to educate me.

The liberals of the 19th century had a tough time persuading people that kids should be in school and that only adults should be working - but people like Robert Owen , a wealthy mill owner actually provided housing for his workers , and education for their children. And yet he continued to make a profit. His 'enlightened self interest' as I call it, led his workers to be more productive in the long run, and his business methods drew wider attention.

Lord Shaftsbury, a British Liberal MP, was also keen to have education as the norm instead of work for the children of Great Britain. he set up a company that is still operating today in Battersea, which is in south London. Ramoneur, at its inception , was inteneded to show that one did not have to stoop to using 'cheap labour' to make a profit. Read more... )
[identity profile] sophia-sadek.livejournal.com
During their ill-fated attempt to revolt against the British Empire, Americans debated which slogans they would use to rally the rebel regiments. One faction favored the right of property. Wiser heads pointed out that few of the troops owned much property, so the more general "pursuit of happiness" wound up standing in for property. In a way, it became the code word for property in the minds of the mad mullah's of money.

Manhattan was the Mecca of Money long before the princess of Redneckistan attempted to establish a rule of exclusion for competing cults. Alexander Hamilton and his stock jobbing minions had been drawn to the place like moths to a flame. Compared to the pernicious witch burners of Massachusetts and the brutal slave drivers of Virginia, the industrious Dutch boys of New York took on an aura of virtue. The plunder of piracy could be purified in its hallowed harbor for the benefit of transatlantic plutocrats.

As the truly ignorant were recently scrambling to outdo one another on reasons for despotic exclusivity in the Mecca of Money, I happened on an interesting perspective of the exclusion of the infidel from the Mecca of Mohammad. Ludovico de Vartema had masqueraded as a convert to Islam during the sixteenth century in order to visit the place and report on it at a time when journalism was unheard of in Italy. He remarked that the exclusion of the infidel served to hide Muslim hypocrisies from outsiders. The opposite appears to be the case for the Rednecki princess. her hypocrisy has become all too apparent.

Have you made a pilgrimage to the Mecca of Money? If so, what are your impressions? If not, when do you expect to make the Hajj?

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