Category Archives: Capitalism

The Specter of Secular Stagnation

A specter is haunting the treasuries and central banks of the West – the specter of secular stagnation. What if there is no sustainable recovery from the economic slump of 2008-2013?  What if the sources of economic growth have dried … Continue reading

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With the recent development of the Occupy Movement, public criticism of neoliberalism has climaxed since the onset of a global financial crisis in late 2008. The mobilization of protesters in cities throughout the world was preceded by much speculation in … Continue reading

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The New Gilded Age – La Belle Époque

Thomas Piketty, professor at the Paris School of Economics, isn’t a household name, although that may change with the English-language publication of his magnificent, sweeping meditation on inequality, Capital in the Twenty-First Century. Yet his influence runs deep. It has … Continue reading

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Piketty fights Orthodoxy and Inequality: A Marxist Review

Piketty talks to a specific audience. Perhaps he hopes enough capitalists will be far-sighted and realize that open oligarchy may stimulate mass rebellion. He thinks there are good people like himself who care about democracy and understand that it must … Continue reading

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Capitalism vs. Democracy

Thomas Piketty’s new book, “Capital in the Twenty-First Century,” described by one French newspaper as “a political and theoretical bulldozer,” defies left and right orthodoxy by arguing that worsening inequality is an inevitable outcome of free market capitalism. Piketty, a … Continue reading

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Por trás da crise “financeira”, a velha luta de classes

Marx estava certo, por mais que economistas superficiais tentem negá-lo: causa das turbulências econômicas é enriquecimento sem-fim da burguesia. É surpreendente verificar que a extensíssima literatura produzida sobre as causas das crises atuais se tenha centrado tão pouco no conflito … Continue reading

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Capitalism Is Humanity’s Neurosis

Freedom is a good thing, isn’t it? Not always, argues Slovenian philosopher Renata Salecl. The liberty to choose from an unlimited number of career options or coffee brands ultimately becomes a burden. Our modern capitalist society is ruled by a … Continue reading

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End of the Road for Runaway Factories?

Ever since there has been a capitalist world-economy, one essential mechanism of its successful functioning has been the runaway factory. After a period of significant accumulation of capital by so-called leading industries (usually about twenty-five years), the level of profit … Continue reading

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Great Transformations: Economic Ideas and Institutional Change in the 20th Century

Mark Blyth argues that economic ideas are powerful political tools as used by domestic groups in order to effect change since whoever defines what the economy is, what is wrong with it, and what would improve it, has a profound … Continue reading

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Hayek, Friedman, and the Illusions of Conservative Economics

… confusion that there was a Good Hayek and a Bad Hayek. The Good Hayek also knew that unrestricted laissez-faire is unworkable. It has serious defects: successful actors reach for monopoly power, and some of them succeed in grasping it; … Continue reading

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