Growth, what growth? Thatcherism fails to produce the goods | Business | The Guardian.
Margaret Thatcher’s policies of privatisation, light-touch regulation and low income tax failed to boost growth, according to a new study that casts doubt on the merits of free market economies.
In a wide-ranging analysis of Britain’s performance in the decades before and after 1979, economists at the University of Cambridge say the liberal economic policies pioneered by Thatcher have been accompanied by higher unemployment and inequality. At the same time, contrary to widespread belief, GDP and productivity have grown more slowly since 1979 compared (Read more…)
Today marks 20 years since the Progressive Conservative Party foisted its so-called “Common Sense Revolution” on Ontario. Former PC Ontario leader Tim Hudak took to Twitter this morning to extol the virtues of this full-throated neoliberal experiment, declaring it “the most effective, courageous gov[ernment]” in his lifetime. Some remember those days differently. Here are a few […]
Although far from a biblical scholar, I find the above line, taken from the Book of Acts, to be an apt title. Even though I am taking it out of context, it encapsulates for me a capacity that the world in general, and Canada in particular, has lost: the capacity to dream of and envisage a better reality than what we have settled for.
Under the relentless barrage of neoconservative propaganda, we have succumbed to the kind of existence epitomized in the video I posted the other day, a world of mindless consumerism, relentless environmental despoliation, and spiritual barrenness. (Read more…)
Temporary and part-time jobs surge promotes inequality, says OECD | Business | The Guardian.
A surge in self-employment and temporary or part-time jobs over the past two decades has been a key factor behind the rise in inequality in the world’s industrialised countries, according to a major new study by the Organisation for Economic Co-operation and Development.
The Paris-based club, which has been a driving force in arguing that increasing inequality jeopardises economic growth, says more than half of all job creation in its 34 member countries since the mid-1990s has been in “non-standard work”, which accounts (Read more…)
Okay, I agree – the science isn’t in.
Not all of it anyway. There’s more coming in almost daily – research, studies, experiments, observations and analyses, projections – there’s a continually growing mountain of information and knowledge.
The thing is – while there’s more to come, it would be beyond foolish to expect anything else in a world caught in a state of flux. The important thing is that this new science pouring in affirms, corroborates, supports and reinforces the scientific consensus on anthropogenic or man-made global warming.
Sure the Earth has always changed in the past only not like (Read more…)
Neoliberalism is the current way of thinking about the economic state of the world. It’s the thinking that has led to the financialization of nearly everything in the world – think about how we justify our thinking in economic terms and not other terms.
The critiques of the mind-numbing neoliberal approach to thinking are growing and the most recent issue Environmental Education Research examines how neoliberalism is changing how we teach. This is good because we need to move our way of thinking beyond an economics-only framework, the more we critique neoliberalism the better the world we can create.
“Environmental (Read more…)
It’s sometimes hard to read a Henry Giroux essay without coming away feeling like you’ve been dragged into a dark alley and bludgeoned. In his latest essay, this American intellectual explores what we’ve allowed ourselves to become, how we’ve been complicit in our own orchestrated economic, social and political degradation. Brace yourself.
“The danger is that a global, universally interrelated civilization may produce barbarians from its own midst by forcing millions of people into conditions which, despite all appearances, are the conditions of savages.”
- Hannah Arendt, The Origins of Totalitarianism (1951) Following Hannah Arendt, a (Read more…) . . . → Read More: The Disaffected Lib: The Struggle Ahead for a Decent Future for our Youth
This is one of those days when I haven’t felt like writing anything. And George Orwell said just about everything better, anyway.
H/t Mint Press News Recommend this Post
If you have as low an opinion of the CBC’s disgraced chief business correspondent, Amanda Lang, as I do, watch the following video. I think you will find that, with her absolutist questions typical of the extreme right and the intellectually deficient, she does not exceed expectations.
For Broadbent’s thoughts on how Harper has failed this country, click here. Recommend this Post
New IMF research: No evidence that labour market deregulation increases growth.
Filed under: Austerity Tagged: Labor Market reform, neoliberalism
Proof positive that America is a corporatist state saddled with a “bought and paid for” Congress.
The big US banks have given the Democrats an ultimatum – silence progressives like Elizabeth Warren or we’ll cut off our funding. Salon.com calls it “Wall Street’s political shakedown.“
If ever you doubted that our obscene campaign finance regime constitutes a form of legalized bribery, consider this: Reuters reports today that officials at top Wall Street banks recently convened to discuss how they could convince Democrats “to soften their party’s tone” toward the financial industry, and among the options now (Read more…)
Filed under: Austerity Tagged: Austerity, Eurozone Crisis, Greece, neoliberalism
In the age of neoliberalism ideology matters, not results. Neoliberalism ensures there’ll always be another bus to drive into the next ditch.
Call it what you like, be it “market fundamentalism” or “free market capitalism,” neoliberalism works at cross purposes to democracy. You know that business about government “of the people, by the people, for the people“? There’s really no need for that sort of pap in the age of neoliberalism.
Neoliberalism displaces unruly democracy, the sort of thing that demands results and punishes failure, with an orderly form of corporatism where some things (Read more…)
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From Le Monde, a timely explanation of how disastrous neoliberalism continues to thrive despite an endless string of economic disasters and what it holds in store for you even as you continue to vote for those who practice it. Hint. Neoliberalism is class warfare and it’s being waged in our own Parliament against us.
Even neoliberal proponents recognize that it is a crisis-ridden system. In his popular book Why Globalisation Works, Financial Times columnist Martin Wolf writes: “Between 1945 and 1971, in what might be called the “age of financial repression”, there had been only thirty-eight (Read more…)
. . . → Read More: The Disaffected Lib: What Neoliberalism Has in Store For You
Greece is revered as the nation that gave mankind democracy. Could it now become the nation that restored democracy to mankind?
Around the world, democracy has taken a pounding from the fist of neoliberalism. Market fundamentalism and democracy are simply incompatible over time. Neoliberalism promotes illiberal democracy, ultimately leading to political capture and the rise of plutocracy as the populace is steadily reduced economically and politically, their power quietly transferred to a select minority.
The Guardian’s George Monbiot writes that we’re witnessing “the sudden death of the neoliberal consensus.” This he sees in the triumph of the Syriza (Read more…)
I’ve been visiting family in Poland for the past few weeks so, fittingly, this week’s podcast deals with the situation of the left at two opposite ends of the European periphery: Greece and Poland. My first guest is Yanis Varoufakis, professor of economics at the University of Athens and candidate for SYRIZA in this Sunday’s parliamentary elections. Syriza is the main Greek left party and is poised to take the most votes, potentially even form a parliamentary majority, on Sunday. Yanis spoke with me about Greece’s economy on the eve of the elections and Syriza’s economic (Read more…)
Alberta civil servants: do you get the feeling someone may have their eye on you? Below: Agents of change Richard Dicerni, Ian Brodie, Oryssia Lennie and Steve West.
Premier Jim Prentice says he intends to “reform” Alberta’s public service, fix its low morale, reverse its “shocking” turnover and deal with its other “very significant problems.”
He’s appointed a former senior federal civil servant and well-connected business professor to be his “agent of change,” along with a couple of right-hand persons to assist with this change agentry. Their work will start immediately.
Sounds way better, huh, than former premier Alison (Read more…)
This week, it’s my great pleasure to present a feature interview with Doug Henwood — economic analyst, author of books including Wall Street and host of the wonderful Behind the News radio show and podcast that inspired this show. Doug always introduces his show by saying his guests will be “taking a look at worlds of economics and politics.” Today, I’ve turned the tables and asked him to take up this very task for the present-day US. The result is a wide-ranging interview on everything from the sluggish economic recovery to Obamacare, the changing character of elites, why (Read more…)
Some day our grandchildren will ask “why?”
They’ll want to know why their grandparents’ generation failed to act against climate change while there was still time to prevent their own generation from getting the worst of it.
That’s how they’re going to judge us; not by how bad, how dangerous, how punishing the environment they have to live in is but rather how much worse is it than it had to be. And that’s what we’re doing now with our inaction on climate change. We’re determining how much worse things are going to be for our grandchildren due to (Read more…)
Those at the very top of today’s neoliberal, free-market capitalist, global economy see the writing on the wall – capitalism has just about run its course.
It’s hard to get your head around the idea, isn’t it? It sure is for me. Imagine, the economic model around which our society has been structured is bogus. It is the product of 18th century economics, 19th century industrialism and 20th century geo-politics. It worked for a couple of hundred years, perhaps right up until the early 70s, but it’s now dawning on us that it doesn’t work any more. It’s lost its (Read more…)
The focus of today’s podcast is China: its development over the past several years, the situation of workers and unions as well as future directions. To get some perspective second largest economy in the world and one still expanding at breakneck, albeit slower, pace, I spoke with two guests: Minqi Li and Cathy Walker.
My first guest is Minqi Li. Minqi is professor of economics at the University of Utah and specializes in China’s economy and offers. He previously taught at York University in Toronto and received his PhD from University of Massachusetts, Amherst.
My (Read more…)