— Avner Offer quoted by Chris Hedges at Common Dreams. Suffering? Well, You Deserve It
— Alex Tabarrok at Marginal Revolution. Software Patents are Not Good Property Rights
All the futurists, even socialists, were optimists about capitalism. They thought it was going to evolve naturally into socialism, with an increasing government role in the economy to provide infrastructure, including banking. Instead, you have governments being carved up. That’s what neoliberalism is. It’s really neofeudalism. It’s a dismantling of democracy in favor of a financial oligarchy, to rule by appointing proconsuls and technocrats such as you have in Italy under Monti or in Greece under Papademos. You have a rolling back of history, and of the Enlightenment. If your college curriculum, your religion and the popular press doesn’t even talk about the enlightenment and about the history of economic thought, you’re not going to realize that what’s happening is a rolling back of the last 500 years."
Michael Hudson speaking with Greg McInerney of The Melting Press. Monopoly’s Poster Children
Via Ukiah Blog
Abhijit Banerjee quoted in an article by Decca Aitkenhead in The Guardian.
Abhijit Banerjee: ‘The poor, probably rightly, see that their chances of getting somewhere different are minimal’
The author of Poor Economics on why aid that assumes the poor will do the right thing is misguided – and why political corruption does not necessarily mean economic stagnation
J.W. Smith at The Institute for Economic Democracy. The Secret of Free Enterprise Capital Accumulation
Book: Economic Democracy: The Political Struggle of the Twenty-First Century, 4th Edition
Naomi Klein at Alternet. Naomi Klein: Why Science Is Telling All of Us to Revolt and Change Our Lives Before We Destroy the Planet
Climate scientists are coming to some incendiary conclusions.
David Graeber at Naked Capitalism. On the Invention of Money— Notes on Sex, Adventure, Monomaniacal Sociopathy , and the Function of Economics
A Reply to Robert Murphy’s ‘Have Anthropologists Overturned Menger?
— Manfred Max-Neef at Democracy Now. Chilean Economist Manfred Max-Neef: US Is Becoming an “Underdeveloping Nation”
The five postulates
1. The Economy exists to serve the people, not the other way around.
2. Development is about People, not about objects.
3. Growth is not the same as development and development does not necessarily require growth.
4. No Economy is possible in the absence of ecosystem services.
5. The Economy of a subsystem of a larger finite system in the biosphere, hence permanent growth is impossible."
— Manfred Max-Neef at Agora Dialogue. A lesson in Barefoot Economics
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