Posts Tagged ‘economics’

By Prof. Richard Wolff

Capitalism as a system ought to be judged by its failures as well as its successes.

The automobile-driven economic growth of the 1950s and 1960s madeDetroit a globally recognized symbol of successful capitalist renewal after the great depression and the war (1929-1945). High-wage auto industry jobs with real security and exemplary benefits were said to prove capitalism’s ability to generate and sustain a large “middle class”, one that could include African Americans, too. Auto-industry jobs became inspirations and models for what workers across America might seek and acquire – those middle-class components of a modern “American Dream”.

Click here for the full story from guardian.co.uk

Please watch this in full if you are among those who have been tricked by propaganda into thinking there is any merit to anarcho-capitalism and this nonsense about some “invisible hand of market self regulation”.

Anarchist communism is a form of anarchism that advocates the abolition of the State and capitalism in favour of a horizontal network of voluntary associations through which everyone will be free to satisfy his or her needs.

Anarchist communism is also known as anarcho-communism, communist anarchism, or, sometimes, libertarian communism. However, while all anarchist communists are libertarian communists, some libertarian communists, such ascouncil communists, are not anarchists. What distinguishes anarchist communism from other variants of libertarian communism is the formers opposition to all forms of political power, hierarchy and domination…

Click here for the full story from libcom.org

Notes from the Iron Cage

 

  In America, there definitely exists a stratum of class, despite some lofty rhetoric to the contrary. Indeed, these classes are part of the American fabric. Particularly, this is true of economic class. One only needs to look at the latest political-economic debate to hear the espousal of ‘America’s Great Middle Class.” The classification of being Middle Class has a magical ability to be claimed by almost anybody, or to claim ones actions for its benefit. Perhaps because of it’s vague definition, the class of the petit bourgeois is often claimed by those with material and fiscal wealth far beyond ‘the middle.’ (Sometimes these wealthy citizens admit they are ‘upper-middle class’ – a designation that denotes superiority, success, and elitism while also utilizing the benefits of being an ‘average joe’ of the ‘middle class.’) The idea of the ‘Middle Class’ seemingly has a place for everybody. Indeed, for the…

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