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+4 +1
Richard D. Wolff - Why Capitalism Is in Constant Conflict With Democracy
Richard D. Wolff is professor of economics emeritus at the University of Massachusetts, Amherst, and a visiting professor in the Graduate Program in International Affairs of the New School University, in New York. Wolff’s weekly show, “Economic Update,” is syndicated by more than 100 radio stations and goes to 55 million TV receivers via Free Speech TV.
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+2 +1
Universal Basic Income and the Capitalist Production of Consciousness
We cannot much longer ignore the discomforting truth that the economies we’ve inherited from the twentieth century are poorly designed for the production of human beings. As digital technologies weave economic logic deeper into the temporal fabric of everyday life, we’re debasing economic society’s most complex, valuable, and neglected production: human consciousness.
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+24 +1
We are sleepwalking toward economic catastrophe
"The cliff is totally visible in front of us": The future is grim if Congress doesn’t act on the economy. The country is ambling toward a cliff, putting millions of Americans’ lives and livelihoods in danger and all but ensuring prolonged economic distress nationwide. It didn’t have to be this way. Yet here we are, unable to shake out of it.
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+7 +1
Peter Joseph & Abby Martin on Abolishing Capitalism
Is capitalism destroying the fabric of our society? Peter Joseph, the founder of the Zeitgeist Movement, argues that it is. His philosophy is at the center of Abolishing Capitalism, an Empire Files documentary hosted by acclaimed journalist Abby Martin.
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+11 +1
Sustainability? We are Blaming the Poor for the Wrongs of the Rich
Don’t be fooled by the unfounded, Malthusian belief that overpopulation is the roots of all evils when it comes to sustainability. Population growth is just one of many issues that we should keep an eye on – for sure – but it would be an unforgivable mistake – and a racist one – to give it our undivided attention.
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+10 +1
Opinion | Letting corporations profit from a COVID-19 vaccine is a terrible idea
The current consensus by scientists and public health experts is that the only way to end the coronavirus' devastating effects on America's citizens and its economy is to develop, produce at scale and widely distribute an effective vaccine against COVID-19 as quickly as possible. There are, of course, myriad scientific challenges inherent to that imperative, among them the virus' potential mutability, our lack of knowledge about whether antibodies provide protection against reinfection...
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+11 +1
Tech billionaires who donate millions are just "bribing society at large," Anand Giridharadas says
Mark Zuckerberg, Jeff Bezos, Bill Gates, and other billionaires have figured out a pretty sweet deal, Anand Giridharadas says: They make gigantic piles of money, and have tricked politicians and the media into giving them an exceptionally loud voice in policy discussions. What’s their secret? Just give away a little bit of that money through philanthropic organizations that they control.
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+14 +1
Coronavirus recession deepens U.S. job losses in April especially among low-wage workers and women
The Bureau of Labor Statistics April Jobs Day report provides new data on the speed with which the coronavirus recession is impacting the labor market.
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+18 +1
'Some may even die, I don't know': Former Wells Fargo CEO wants people to go back to work and 'see what happens'
The coronavirus crisis in the United States is only just beginning. But it's not too early for some Americans to flout social distancing and isolation guidelines and return to work, according to some executives. Dick Kovacevich, the former CEO and chairman of Wells Fargo, told Bloomberg News that healthy workers under the age of 55 should return to work in April if the outbreak is controlled, saying that "some may even die" with his plan.
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+28 +1
Corporate Socialism: The Government is Bailing Out Investors & Managers Not You
The U.S. government is enacting measures to save the airlines, Boeing, and similarly affected corporations. While we clearly insist that these companies must be saved, there may be ethical, economic, and structural problems associated with the details of the execution. As a matter of fact, if you study the history of bailouts, there will be.
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+4 +1
The Dow is on pace for its worst month since the Great Depression, but here’s why all hope isn’t lost amid the coronavirus crisis
The month of March has rolled in like a ferocious lion for bullish stock-market investors, leaving little but carnage in its aftermath, as uncertainties about the effects of the coronavirus outbreak abound. The decline for the Dow Jones Industrial Average DJIA, -4.54% has been simply gut-wrenching for the average investor, with the monthly plunge so far for the nearly 124-year-old, blue-chip gauge poised to represent its steepest since 1931 — a year that falls within the Great Depression, the worst economic crisis in U.S. history.
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+17 +1
Coronavirus has shattered the myth that the economy must come first
The coronavirus shutdown of 2020 is perhaps the most remarkable interruption to ordinary life in modern history. It has been spoken about as a war. And one is reminded of the stories told of the interruption of normality in 1914 and 1939. But unlike a war, the present moment involves demobilisation not mobilisation. While the hospitals are on full alert, the majority of us are confined to quarters. We are deliberately inducing one of the most severe recessions ever seen. In so doing we are driving another nail into the coffin of one of the great platitudes of the late 20th century: it’s the economy stupid.
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+4 +1
When you did well with Bitcoins, but don't want to show off and hide the new boat
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+3 +1
I've seriously tried to believe capitalism and the planet can coexist, but I've lost faith
Some people might think it's a ridiculous conversation, but for the sake of the planet we need to talk about ending capitalism.
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+18 +1
In the 2020s, Caring About Things Will Go Mainstream
And when consumers care, capitalism does too. Businesses create stuff. In the process of creating the stuff they intend to offer, they also create a sweet medley of things that are decidedly less good. The list here is long, and we’ve heard it before, even if we’d rather pretend we haven’t.
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+4 +1
Happy 10th anniversary to Undercover Boss, the most reprehensible propaganda on TV
“I think there was a common thread among all of us,” says Sheldon Yellen, CEO of Belfor, “that we really are just everyday people, wanting to do everyday good.” This quote is from back in 2013, when Yellen, an incredibly wealthy man and reputed former mobster (Forbes estimated his net worth at $320 million back in 2017) was sitting at a table with other leaders of large American companies.
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+12 +1
Emily James helped a customer in need. Her employer, a bank, fired her
To understand how some companies have lost their souls, consider what happened after a bank in the US stiffed a customer before Christmas.
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+3 +1
Humans Aren’t Inherently Destroying the Planet — Capitalism Is
One of the biggest ironies of the right-wing trope accusing socialists of wanting “free stuff” is that in reality, the entire capitalist economy would immediately collapse if it couldn’t continue to rely on free stuff. Without free or artificially cheap access to things like natural resources, care work, labor and a whole array of other elements, capitalism could not stay afloat. In fact, the only way that capitalism was ever able to even emerge was through a process of “primitive accumulation” — where things like slavery and colonialism were utilized to extract free labor and resources.
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+15 +1
Apple CEO Tim Cook says monopolies aren't bad if they aren't abused
Apple CEO Tim Cook has defended the existence of monopolies in business while also denying that Apple has a monopoly in any sector. In an interview with Nikkei Asian Review in Tokyo on Wednesday, during which Cook discussed a range of topics including Apple's treatment of competitors, he said a monopoly "by itself isn't bad if it's not abused."
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+4 +1
Why America's 1-Percenters Are Richer Than Europe's
A new Gilded Age has emerged in America — a 21st century version. The wealth of the top 1% of Americans has grown dramatically in the past four decades, squeezing both the middle class and the poor. This is in sharp contrast to Europe and Asia, where the wealth of the 1% has grown at a more constrained pace.
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