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About LinkBacksCheers for this, ill add it in. I should have said "contributions welcome"Originally Posted by nineteensixtyseven
Cheers for this, ill add it in. I should have said "contributions welcome"
[COLOR=navy]"The voice that arms itself to be heard. The face that hides itself to be seen. The name that hides itself to be named. The red star who calls out to humanity and the world to be heard, to be seen, to be named" - [/COLOR]
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Glad you found the link useful.
[COLOR=navy]"The voice that arms itself to be heard. The face that hides itself to be seen. The name that hides itself to be named. The red star who calls out to humanity and the world to be heard, to be seen, to be named" - [/COLOR]
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Spot on. Most sensible post I've read. Consise too, if a little anal! Freud would love it.
Barry, just watched the video 'Capitalism Hits the Fan'... found it interesting. I've actually bookmarked this page so I can get a listen to the other bits as well. Good man sir.
Its good that you found something interesting from it. David harvey is well worth a listen too.Barry, just watched the video 'Capitalism Hits the Fan'... found it interesting. I've actually bookmarked this page so I can get a listen to the other bits as well. Good man sir.
[COLOR=navy]"The voice that arms itself to be heard. The face that hides itself to be seen. The name that hides itself to be named. The red star who calls out to humanity and the world to be heard, to be seen, to be named" - [/COLOR]
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World Economy: The great implosion
World Economy: The great implosion
World Economy: Wall Street Crash 2008
World Economy: Wall Street Crash 2008
The October crisis
Socialism Today - The October crisis
One of the reasons why many businesses are going bust is because workers have too much power not too little. It's common sense that a business which is run by workers would not work and would soon go bust. They would keep giving themselves payrises and longer holidays until eventually the factory or business produces little or nothing while the workers take home large pay packets. That's what has effectively happened to the US auto industry, to Waterford Crystal, Alitalia and other national carriers, as well as the Irish public service and many many other factories and businesses that are or were heavily unionised.
In the end unionised businesses tend to go out of business or are outsourced faster than non-unionised ones, whether there is a direct link there or not is the question. Unions through collective bargaining just means mob rule where the least productive gets paid the same as the most productive. No business can thrive in that environment and it only encourages people not to try since they know they will get a payrise regardless. That's the major flaw inherent in benchmarking, and that's why it was a bad deal for the country, one flagged by FG for example as being a bad deal but which FF including Cowen thought was a great deal. Now we are reaping the problems of that bad deal.
Last edited by junketman; 9th January 2009 at 08:58 PM.
I agree it's common sense - of course the fact that workers wages, in real terms, haven't increased in the last 30 years - while profits have sky-rocketed - has had absolutely no impact on the present crisis of capitalism.
Cheers for them JRG, ill create an "articles" section.
[COLOR=navy]"The voice that arms itself to be heard. The face that hides itself to be seen. The name that hides itself to be named. The red star who calls out to humanity and the world to be heard, to be seen, to be named" - [/COLOR]
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The best part about this one was the analysis of consumption, and the discrediting of the idea that consumption is the most important thing of all. This IMO is a huge leagcy of Keynesianism, which stipulates that it is consumption that "drives the economy".
I got through the first 20 minutes of his thesis and stopped. I was suprised when he pointed out the year c.1970 as a starting point for all this. Unfortunately, not a single time did he ever mention the Federal Reserve and Nixon "closing the gold window", which finally allowed the government to steal from people via inflation (to an even greater extent). From 1971 the money supply rises steadily and hence savings are eroded and real wages stagnate. That I beleive is the primary cause of the flatlining of wages.
But other fallacies are
1. Use of the labour theory of value and subsequent belief that profit = "stolen" wages.
2. Belief that cycles are endogenous and reliance on psychological explanations of economic phenomena, much like Keynes did.
3. Constant value judgements (like referring to consumer goods as "crap")
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