It’s easy to get confused about who is a worker and who isn’t these days. Your CEO may worker longer hours than you, not the top-hatted capitalist of the Monopoly board he. Indeed, it may seem that the leisure class of the turn of the last century has been replaced by the workaholic professional and managerial class of today. Yet, if everyone is a worker and no one is a capitalist, then how can we still be living under capitalism?
The short answer is we can’t…or, better yet, we are, which means that not everyone can be a worker, no (Read more…)
This is no recovery, this is a bubble – and it will burst | Ha-Joon Chang | Comment is free | The Guardian.
According to the stock market, the UK economy is in a boom. Not just any old boom, but a historic one. On 28 October 2013, the FTSE 100 index hit 6,734, breaching the level achieved at the height of the economic boom before the 2008 global financial crisis (that was 6,730, recorded in October 2007).
Since then, it has had ups and downs, but on 21 February 2014 the FTSE 100 climbed to a new height of 6,838. At (Read more…)
Yesterday I tweeted this: <blink> Gap will raise minimum hourly pay Walmart “looking” at support of min wage raise In honour of the momentum, I am posting the piece I wrote for Economy Lab a while back, and including the numbers that drive the chart that attracted quite a lot of attention. There is a [...]
http://www.social-europe.eu/2014/02/middle-class/ Filed under: Capitalism Tagged: Britain, Capitalism, France, investment, productivity
Are you one of those people for whom your job is also a passion? Would you be ready to accept a pay cut only for the pleasure of keeping the job you currently have, along with the people you work with? According to a poll conducted last year by …
You can change the conversation. Chip in to rabble’s donation drive today!
Canada is in denial of herself. We are submitting ourselves to the imperatives of globalized corporatocracy as we wilfully erase our former strengths as an independe…
The Middle Class Is Steadily Eroding. Just Ask the Business World. – NYTimes.com.
In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end dishwashers and refrigerators dwarfs sales growth of mass-market models.
Filed under: Capitalism, Class, Class Formation, inequality Tagged: Capitalism, class, inequality, middle class
There are a million and one reasons why you should dislike coke – most of which involve taking advantage of sugar addiction and capitalist monopoly on beverages that are made […]
Capitalism is generally recognized as having one great strength. That, of course, is as a creator of wealth. Aided by the remarkable advance of technology (some would say inspired and facilitated by capitalism) it has created wealth unknown before in h…
http://www.theguardian.com/commentisfree/2014/jan/12/europe-left-capitalism-social-democrats-reforms Filed under: Europe Tagged: Capitalism, Socialism, the Left
You can change the conversation. Chip in to rabble’s donation drive today!
After facing months of protest led by the Mi’kmaq people of the Elsipogtog Nation in New Brunswick, the frackers of Houston-based Southwestern Energy Co. (SWN) have left the province and announced they won’t be back before 2015.
SWN said its teams had finished seismic testing and provided no timeline for when — and if — it would return to begin fracking for natural gas. The demonstrators who took a stand against fracking are glad to see SWN leave — and will now prepare to protest if it decides to return.
Economic growth suggests that infinite growth is possible. Even with a growing earth population and increasing climate breakdown, people still think we can continue growing.
I like using the seasons analogy to describe that human economic activity ought follow the cycle of seasons, with a steadying imperative. This is why I like the Steady State folks.: “ Perpetual economic growth is neither possible nor desirable. Growth, especially in wealthy nations, is already causing more problems than it solves. Recession isn’t sustainable or healthy either. The positive, sustainable alternative is a steady state economy.”
Here’s Kai Nagata’s excellent analogy (Read more…)
In the video below Ernie Peshkov-Chow explains how and why capitalism tries to turn us into idiots.
Ernie, an avatar of the international working class is the author of the New Commune-ist Manifesto — Workers of the World, it Really is Time to Unite. The book is an attempt to start a discussion about the future of the Left and unions.
Ernie has some fundamentally important things to say.
Peter Foster on the Pope’s economic naivete and ignorance:
… the serious issue of whether the Pope knows what he’s talking about when it comes to his professed concern for the poor.
The appropriate approach to poverty is not to sanctify it but eradicate it . … if Pope Francis really is concerned about relieving poverty, his reflexive anti-capitalist attitudes are pointing precisely in the wrong direction.
Pope John Paul II actually praised the free market as “the most efficient instrument for utilizing resources and effectively responding to needs. … his successors … returned to the Church’s more traditional anti-capitalist stance, now larded with environmental concerns and support for UN-based global governance. … Pope Francis came out of the Vatican gate in March sounding like the theological wing of the Occupy movement …
… if the poor are truly his priority, then surely what is important is not “the gap” but the massive reductions in levels of absolute poverty in recent decades … one can’t help asking whether the Pope is more concerned with relieving the poor or bringing down the rich.
he exposed his own economic confusion, first in implying that social benefits come only from charitable intention … and second in peddling the canard that promotion of markets represents some kind of quasi religious faith…
http://www.theguardian.com/commentisfree/2014/jan/01/finance-hold-everyday-life-broken-capitalism Filed under: Uncategorized Tagged: Austerity, Capitalism, crisis, finance
I don’t think I’m alone in this..I hate Facebook and the site has morphed into..a crassly capitalist commercial, 24/7…and after telling us that they would use whatever images we had foolishly uploaded for whatever purposes they deemed beneficial to them, and that our privacy was, essentially, at an end, I closed my accounts. That was at least two years ago, and don’t miss it, although I notice that all my ‘friends’ have lost track of my existence since then, despite the fact that there are numerous other ways to keep in touch online…which only reinforces the opinion that (Read more…)
Yesterday’s release from Statistics Canada on the income share of the wealthy generated some interesting coverage and commentary. It reported that the top 1%’s share of total income in Canada remained steady in 2011 in Canada, at 10.6 percent — but still significantly higher than in the 1980s. Most observers did not mention, however, that this [...]
This week, the United States is celebrating their national holiday, or rather that of the American Dream in its most mercantile, superficial — and bloody — incarnation. Black Friday is the day which unofficially kicks off the holiday shopping …
For the first time in decades, I feel a modicum of optimism about organized religion. The new Pope, Francis, is breaking the centuries-long stultification of the Church through the kinds of pronouncements that reflect its founder’s beliefs and are long overdue. But with views like these, in which he lacerates the conventional wisdom about capitalism, I can only hope that he has a trusted taster for both his food and his drink.
Recommend this Post
The McRib is back. I haven’t been inside a McDonald’s in over a decade, but still there is something alluring about this sandwich’s compulsion to return year after year — a porcine revenant. I vaguely recall lifting up the bun of my first (and …
Last year, Ryerson University, where I teach, won a Passion Capitalist Award. When I first saw this posted on the university website, I thought the Ryerson public relations machine might be dabbling in satire. Sadly, this was real.
Filed under: Politics Tagged: Capitalism, DWR Quote of the Day
In recent discussions within the labour movement in Canada and Quebec, people often overlook the role of media workers in fighting against neoliberal austerity politics and precarious, flexible work. Yet labour activists could learn from, and co…
The conventional wisdom says the private sector determines what gets created, then the marketplace determines success or failure of those products. Mariana Mazzucato says that’s not how it works. She is Professor of Economics and the RM Phillips Chair in Science and Technology Policy at the University of Sussex. Her most recent book is The Entrepreneurial State: debunking private vs. public sector myths. Mariana Mazzucato speaks with Redeye host Lorraine Chisholm.
Check out our Facebook page and like us to get updates.
Young workers are totally en vogue.
Take, for example, Ryerson University’s Centre for Labour-Management Relations’ November conference. They’ve caught on that this young worker thing is pretty hot. The conference is called A New Unionism: …
“Twenty years ago, the North American Free Trade Agreement (NAFTA) was signed into law. At the time, advocates painted a rosy picture of booming U.S. exports creating hundreds of thousands of new jobs, and economic development in Mexico, which would bring the struggling country in line with its wealthier northern neighbors. Two decades later, those […]
Crash! A brief history of modern global capitalism – audio slideshow | Comment is free | theguardian.com.
An amazing slideshow of a century of capitalist development and economic crisis narrated by one of my former professors, Leo Panitch, author of The Making of Global Capitalism.
Filed under: Capitalism Tagged: Austerity, Capitalism, crisis, neoliberalism
The following tweets were originally posted by “Arbitrary Design” on Twitter via “its” account (https://twitter.com/ArbitraryDesign), variously, on March 23, 2013; October 26, 2013; and November 1, 2013.
by “Arbitrary Design”
As originally posted on: Arbitrary Design (ArbitraryDesign) on Twitter
September 7, 2013
Bitcoin is going nowhere. I promise you that it won’t and I’m positive that I won’t be eating my words at a later date.
I’m going to tell you why: 1) Drugs and 2) Coffee:….
The following tweets were originally posted by “Alammus Drenim” on Twitter via “his” account (https://twitter.com/alammus), variously, on August 14, 2013; August 20, 2013; September 9, 2013; September 11, 2013; September 12, 2013; September 18, 2013; S…
The Slovenian philosopher Slavoj Žižek is one of the most engaging thinkers around, not only in terms of the ideas but in person. He’s engaging even if you don’t altogether agree with him. When he is in top gear he fulminates, gestures furiously with both hands and delivers with conviction. But it’s never just about the show and the fireworks. He gets his point across forcefully, sometimes playfully and subversively. Žižek is a true original.
When he offends people, it is often be because he is misunderstood or because he isn’t sufficiently respectful of sacred cultural cows. He was accused (Read more…)
“A Corporate Trojan Horse”: Obama Pushes Secretive TPP Trade Pact, Would Rewrite Swath of U.S. Laws | Democracy Now!.
Crucial information on the secretive Trans-Pacific Partnership — Looks like a strengthened version of the failed FTAA from 2001.
Filed under: Capitalism, Democracy, Neoliberalism Tagged: Democracy, neoliberalism
Merkel’s Victory, Everyone’s Loss: The Burden Of German Mercantilism On Europe.
The electoral victory of Angela Merkel brings bad news to the rest of Europe. Without doubt it means the continuation of the national economic policies that have all the other euro zone countries suffering from recession. While the Christian Democrats and their Bavarian allies narrowly missed an absolute majority, the probability that a coalition partner would moderate austerity polices is close to zero.
Filed under: Austerity, Capitalism, Crisis, Europe Tagged: Germany
Defense Contractors Take to the Hill to Lobby on Dronesby Brandon ConradisAs originally posted on: OpenSecrets BlogSeptember 25, 2013As the threat of more spending cuts raises concerns about the military’s budget priorities, defense contractors competi…