Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts

Monday, November 21, 2011

Einstein was part of the 99%

Source
Perhaps not in intellect, but in outlook:
Private capital tends to become concentrated in few hands, partly because of competition among the capitalists, and partly because technological development and the increasing division of labor encourage the formation of larger units of production at the expense of smaller ones. The result of these developments is an oligarchy of private capital the enormous power of which cannot be effectively checked even by a democratically organized political society. This is true since the members of legislative bodies are selected by political parties, largely financed or otherwise influenced by private capitalists who, for all practical purposes, separate the electorate from the legislature. The consequence is that the representatives of the people do not in fact sufficiently protect the interests of the underprivileged sections of the population. Moreover, under existing conditions, private capitalists inevitably control, directly or indirectly, the main sources of information (press, radio, education). It is thus extremely difficult, and indeed in most cases quite impossible, for the individual citizen to come to objective conclusions and to make intelligent use of his political rights.

 The above quote is from the article "Why Socialism" by Albert Einstein. This article was originally published in the first issue of Monthly Review (May 1949). It was subsequently published in May 1998 to commemorate the first issue of MR‘s fiftieth year.

Monday, November 7, 2011

the 1% vs the 99%

Sum up the reasons why things won't change for us 99 percenters
Source

Thursday, September 29, 2011

American INsecurity (Part 3)

The "War on Terror" (surely an oxymoron if there ever was on), has been called the
The decade's biggest scam by Salon.

Read the full article here. My favourite quote
Last year, McClatchy characterized this threat in similar terms: "undoubtedly more American citizens died overseas from traffic accidents or intestinal illnesses than from terrorism." The March, 2011, Harper's Index expressed the point this way: "Number of American civilians who died worldwide in terrorist attacks last year: 8 -- Minimum number who died after being struck by lightning: 29." That's the threat in the name of which a vast domestic Security State is constructed, wars and other attacks are and continue to be launched, and trillions of dollars are transferred to the private security and defense contracting industry at exactly the time that Americans -- even as they face massive wealth inequality -- are told that they must sacrifice basic economic security because of budgetary constraints.
The LA times also did a great report on whether Homeland Security spending paying off.

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