recentpopularlog in

robertogreco : capital   32

Opinion | The Democrats’ Gentrification Problem - The New York Times
"Research that focuses on the way city neighborhoods are changing by income, race and ethnicity, while not specifically addressed to political consequences, helps us see the potential for conflict within the Democratic coalition.

Robert J. Sampson, a sociologist at Harvard, published a detailed study in 2015 for the St. Louis Federal Reserve of the economic composition of neighborhoods. Overall, he found, “middle-income neighborhoods are tenuous,” while neighborhoods at the top and bottom of the economic ladder have remained strikingly stable."

"Upscale liberal whites “who consider themselves committed to racial justice” tend to be “NIMBYists when it comes to their neighborhoods,” Cain wrote, “not living up to their affordable housing commitments and resisting apartment density around mass transportation stops.”"

"As intraparty economic and racial divisions have increased within the Democratic coalition, the political power of the well-to-do has grown at the expense of racial and ethnic minorities."

"The maneuvers in California are a reflection of a larger problem for Democrats: their inability to reconcile the conflicts inherent in the party’s economic and racial bifurcation."

"Democratic politicians should respond by imposing higher taxes on the wealthy and spending the proceeds on the less well off."

"The progressivity of income taxes has decreased, reliance on regressive consumption taxes has increased, and the taxation of capital has followed a global race to the bottom. Instead of boosting infrastructure investment, governments have pursued austerity policies that are particularly harmful to low-skill workers. Big banks and corporations have been bailed out, but households have not. In the United States, the minimum wage has not been adjusted sufficiently, allowing it to erode in real terms."

Rodrik cites the work of the French economist Thomas Piketty, who argues that political parties on the left have been taken over, here and in Europe, “by the well-educated elite” — what Piketty calls the “Brahmin Left.” The Brahmin Left, writes Rodrik,
is not friendly to redistribution, because it believes in meritocracy — a world in which effort gets rewarded and low incomes are more likely to be the result of insufficient effort than poor luck.

"The Democrats will become the party of urban cosmopolitan business liberalism, and the Republicans will become the party of suburban and rural nationalist populism."

"The force that had historically pushed policy to the economic left — organized labor — has for the most part been marginalized. African-American and Hispanic voters have shown little willingness to join Democratic reform movements led by upper middle class whites, as shown in their lack of enthusiasm for Bill Bradley running against Al Gore in 2000 or Sanders running against Clinton in 2016.

The hurdle facing those seeking to democratize elite domination of the Democratic Party is finding voters and donors who have a sustained interest in redistributive policies — and the minimum wage is only a small piece of this. Achieving that goal requires an economically coherent center-left political coalition. It also requires the ability to overcome the seemingly insuperable political divisions between the white working class and the African-American and Hispanic working classes — that elusive but essential multiracial — and now multiethnic — majority. Establishing that majority in a coherent political coalition is the only way in which the economic interests of those in the bottom half of the income distribution will be effectively addressed."
inequality  us  politics  democrats  meritocracy  2018  democracy  taxes  capitalism  capital  gentrification  cities  urban  urbanism  nimbyism  california  policy  progressives  wealth  unions  labor  thomaspiketty  michaellind  danirodrik  elitism  liberalism  neoliberalism  republicans  donaldtrump  race  racism  class  classism  segregation  thomasedsall 
april 2018 by robertogreco
Close Reading — Real Life
"In transitioning ambient intimacy from one mode to the other, it turns out that our desires are more ambient in text and more intimate when visual. Even among the rather ordinary set of people I follow on Instagram, there is an undercurrent of the erotic more immediate and obvious than on places like Twitter. An ambient sense of social desire is something else when it is visual; we aim to be seen, and are thus asked to be seen in certain ways. And if the camera asks you to be seen, it also offers a chance to determine how you are seen and by whom, this new insistence on the scopophilic turned back against the viewer. I have watched people I know who long seemed to avoid being looked at settle into a new idea of who they are: The ego, once pinched, releases and expands from the center to the skin, a kind of warm fluid of confidence, a body now radiating a newly-minted sense of self-possession. A watchful eye once avoided is reclaimed, welcomed, relished — and so of course, the connective tissue of our communication came to include the image of the body.

There is a tension in this, though. It is hard to separate visual culture from economies of various sorts, from systems of circulation and exchange. The demand to place yourself into the swirl of images comes with certain rules. These are the boundaries of our particular modal shift. One can, for example, embrace body acceptance, can challenge regimes of corporeal domination, but it helps to do so symmetrically, in fashionable clothing, against well-lit backgrounds, engaging in the logic of the rectangular image, augmenting one form of desire with another. When intimacy is a thing to be as much seen as felt, one must, if not contort oneself, at least turn one’s life to the camera. The lens is like a supportive mother believing she is simply doing the right thing: “Be who you are, dear, but at least make yourself presentable.”

Yet there is warmth in the feed of images, too: a steady cavalcade of tiny, precious detail, a gentle flood of affection for both others and ourselves. For the lonely, sitting by themselves in quiet rooms and apartments, it represents an emergent social field, a kind of extra-bodily space in which one communes. The modal shift of ambient intimacy from text to the image is itself a minor analog of the broader one, from mass media to the network, from the body to its holographic pairing. There is in it surveillance and self-surveillance, the insistent saturation of capital down to our most private core. In its most ideal state, the collection of stories on otherwise faceless platforms is like an auditorium of holograms, a community of bodily projections. In those rare moments, one does not find oneself simply alone in the dark and cold, barely lit by a glowing phone. Instead, if only for a fraction of time, it is a field of light made full by incandescent strands of connection, staving off a colourless abyss, an intimate ambience that is — temporarily at least — just enough."
ambientintimacy  socialmedi  twitter  instagram  clivethompson  2017  socialmedia  intimacy  capitalism  capital  loneliness  smartphones  bodies  presentationofself  communication  media  news  photography  imagery  imagessurveillance  self-surveillance  economics  body 
october 2017 by robertogreco
The Limits of “Grit” - The New Yorker
"For children, the situation has grown worse as we’ve slackened our efforts to fight poverty. In 1966, when Lyndon Johnson’s War on Poverty initiatives were a major national priority, the poverty rate among American children was eighteen per cent. Now it is twenty-two per cent. If we suffer from a grit deficiency in this country, it shows up in our unwillingness to face what is obviously true—that poverty is the real cause of failing schools.

In this context, grit appears as a new hope. As the federal programs stalled, psychologists, neuroscientists, pediatricians, education reformers, and journalists began looking at the lives of children in a different way. Their central finding: non-cognitive skills play just as great a role as talent and native intelligence (I.Q.) in the academic and social success of children, and maybe even a greater role. In brief, we are obsessed with talent, but we should also be obsessed with effort. Duckworth is both benefitting from this line of thought and expanding it herself. The finding about non-cognitive skills is being treated as a revelation, and maybe it should be; among other things, it opens possible avenues for action. Could cultivating grit and other character traits be the cure, the silver bullet that ends low performance?"

"Now, there’s something very odd about this list. There’s nothing in it about honesty or courage; nothing about integrity, kindliness, responsibility for others. The list is innocent of ethics, any notion of moral development, any mention of the behaviors by which character has traditionally been marked. Levin, Randolph, and Duckworth would seem to be preparing children for personal success only—doing well at school, getting into college, getting a job, especially a corporate job where such docility as is suggested by these approved traits (gratitude?) would be much appreciated by managers. Putting it politically, the “character” inculcated in students by Levin, Randolph, and Duckworth is perfectly suited to producing corporate drones in a capitalist economy. Putting it morally and existentially, the list is timid and empty. The creativity and wildness that were once our grace to imagine as part of human existence would be extinguished by strict adherence to these instrumentalist guidelines."

"Not just Duckworth’s research but the entire process feels tautological: we will decide what elements of “character” are essential to success, and we will inculcate these attributes in children, measuring and grading the children accordingly, and shutting down, as collateral damage, many other attributes of character and many children as well. Among other things, we will give up the sentimental notion that one of the cardinal functions of education is to bring out the individual nature of every child.

Can so narrow an ideal of character flourish in a society as abundantly and variously gifted as our own? Duckworth’s view of life is devoted exclusively to doing, at the expense of being. She seems indifferent to originality or creativity or even simple thoughtfulness. We must all gear up, for grit is a cause, an imp of force. “At various points, in big ways and small, we get knocked down. If we stay down, grit loses. If we get up, grit prevails.” Through much of “Grit,” she gives the impression that quitting any activity before achieving mastery is a cop-out. (“How many of us vow to knit sweaters for all our friends but only manage half a sleeve before putting down the needles? Ditto for home vegetable gardens, compost bins, and diets.”) But what is the value of these projects? Surely some things are more worth pursuing than others. If grit mania really flowers, one can imagine a mass of grimly determined people exhausting themselves and everyone around them with obsessional devotion to semi-worthless tasks—a race of American squares, anxious, compulsive, and constrained. They can never try hard enough.

Duckworth’s single-mindedness could pose something of a danger to the literal-minded. Young people who stick to their obsessions could wind up out on a limb, without a market for their skills. Spelling ability is nice, if somewhat less useful than, say, the ability to make a mixed drink—a Negroni, a Tom Collins. But what do you do with it? Are the thirteen-year-old champion spellers going to go through life spelling out difficult words to astonished listeners? I realize, of course, that persistence in childhood may pay off years later in some unrelated activity. But I’m an owlish enough parent to insist that the champion spellers might have spent their time reading something good—or interacting with other kids. And what if a child has only moderate talent for her particular passion? Mike Egan, a former member of the United States Marine Band, wrote a letter to the Times Book Review in response to Judith Shulevitz’s review of Duckworth’s book. “Anyone who would tell a child that the only thing standing between him or her and world-class achievement is sufficient work,” Egan wrote, “ought to be jailed for child abuse.”

Duckworth not only ignores the actual market for skills and talents, she barely acknowledges that success has more than a casual relation to family income. After all, few of us can stick to a passion year after year that doesn’t pay off—not without serious support. Speaking for myself, the most important element in my social capital as an upper-middle-class New York guy was, indeed, capital—my parents carried me for a number of years as I fumbled my way to a career as a journalist and critic. Did I have grit? I suppose so, but their support made persistence possible.

After many examples of success, Duckworth announces a theory: “Talent x effort = skill. Skill x effort = achievement.” It’s hardly E=mc2. It’s hardly a theory at all—it’s more like a pop way of formalizing commonplace observation and single-mindedness. Compare Duckworth’s book in this respect with Malcolm Gladwell’s “Outliers.” Gladwell also traced the backgrounds of extraordinarily accomplished people—the computer geniuses Bill Gates and Bill Joy, business tycoons, top lawyers in New York, and so on. And Gladwell discovered that, yes, his world-beaters devoted years to learning and to practice: ten thousand hours, he says, is the rough amount of time it takes for talented people to become masters.

Yet, if perseverance is central to Gladwell’s outliers, it’s hardly the sole reason for their success. Family background, opportunity, culture, landing at the right place at the right time, the over-all state of the economy—all these elements, operating at once, allow some talented people to do much better than other talented people. Gladwell provides the history and context of successful lives. Duckworth—indifferent to class, race, history, society, culture—strips success of its human reality, and her single-minded theory may explain very little. Is there any good football team, for instance, that doesn’t believe in endless practice, endurance, overcoming pain and exhaustion? All professional football teams train hard, so grit can’t be the necessary explanation for the Seahawks’ success. Pete Carroll and his coaches must be bringing other qualities, other strategies, to the field. Observing those special qualities is where actual understanding might begin."
grit  2016  angeladuckworth  race  class  luck  perseverance  daviddenby  education  mastery  practice  kipp  character  classism  elitism  obsessions  malcolmgladwell  serendipity  mikeegan  judithshulevitz  capital  privilege  success  effort  talent  skill  achievement  history  culture  society  edreform  nep  pisa  testing  standardizedtesting  nclb  rttt  socialscience  paultough  children  schools  poverty  eq  neuroscience  jackshonkoff  martinseligman  learnedoptimism  depression  pessimism  optimism  davelevin  dominicrandolph  honesty  courage  integrity  kindliness  kindness  samuelabrams 
june 2016 by robertogreco
Birth of Thanaticism | Public Seminar
"I don’t know why we still call it capitalism. It seems to be some sort of failure or blockage of the poetic function of critical thought.

Even its adherents have no problem calling it capitalism any more. Its critics seem to be reduced to adding modifiers to it: postfordist, neoliberal, or the rather charmingly optimistic ‘late’ capitalism. A bittersweet term, that one, as capitalism seems destined to outlive us all.

I awoke from a dream with the notion that it might make more sense to call it thanatism, after Thanatos, son of Nyx (night) and Erebos(darkness), twin of Hypnos (sleep), as Homer and Hesiod seem more or less to agree.

I tried thanatism out on twitter, where Jennifer Mills wrote: “yeah, I think we have something more enthusiastically suicidal. Thanaticism?”

That seems like a handy word. Thanaticism: like a fanaticism, a gleeful, overly enthusiastic will to death. The slight echo of Thatcherism is useful also.

Thanaticism: a social order which subordinates the production of use values to the production of exchange value, to the point that the production of exchange value threatens to extinguish the conditions of existence of use value. That might do as a first approximation.

Bill McKibben has suggested that climate scientists should go on strike. The Intergovernmental Panel on Climate Change released its 2013 report recently. It basically says what the last one said, with a bit more evidence, more detail, and worse projections. And still nothing much seems to be happening to stop Thanaticism. Why issue another report? It is not the science, it’s the political science that’s failed. Or maybe the political economy.

In the same week, BP quietly signaled their intention to fully exploit the carbon deposits to which it owns the rights. A large part of the value of the company, after all, is the value of those rights. To not dig or suck or frack carbon out of the ground for fuel would be suicide for the company, and yet to turn it all into fuel and have that fuel burned, releasing the carbon into the air, puts the climate into a truly dangerous zone.

But that can’t stand in the way of the production of exchange value. Exchange value has to unreel its own inner logic to the end: to mass extinction. The tail that is capital is wagging the dog that is earth.

Perhaps its no accident that the privatization of space appears on the horizon as an investment opportunity at just this moment when earth is going to the dogs. The ruling class must know it is presiding over the depletion of the earth. So they are dreaming of space-hotels. They want to not be touched by this, but to still have excellent views.

It makes perfect sense that in these times agencies like the NSA are basically spying on everybody. The ruling class must know that they are the enemies now of our entire species. They are traitors to our species being. So not surprisingly they are panicky and paranoid. They imagine we’re all out to get them.

And so the state becomes an agent of generalized surveillance and armed force for the defense of property. The role of the state is no longer managing biopower. It cares less and less about the wellbeing of populations. Life is a threat to capital and has to be treated as such.

The role of the state is not to manage biopower but to manage thanopower. From whom is the maintenance of life to be withdrawn first? Which populations should fester and die off? First, those of no use as labor or consumers, and who have ceased already to be physically and mentally fit for the armed forces.

Much of these populations can no longer vote. They may shortly loose food stamps and other biopolitical support regimes. Only those willing and able to defend death to the death will have a right to live.

And that’s just in the over-developed world. Hundreds of millions now live in danger of rising seas, desertification and other metabolic rifts. Everyone knows this: those populations are henceforth to be treated as expendable.

Everybody knows things can’t go on as they are. Its obvious. Nobody likes to think about it too much. We all like our distractions. We’ll all take the click-bait. But really, everybody knows. There’s a good living to be made in the service of death, however. Any hint of an excuse for thanaticism as a way of life is heaped with Niagras of praise.

We no longer have public intellectuals; we have public idiots. Anybody with a story or a ‘game-changing’ idea can have some screen time, so long as it either deflects attention from thanaticism, or better – justifies it. Even the best of this era’s public idiots come off like used car salesmen. It is not a great age for the rhetorical arts.

It is clear that the university as we know it has to go. The sciences, social sciences and the humanities, each in their own ways, were dedicated to the struggle for knowledge. But it is hard to avoid the conclusion, no matter what one’s discipline, that the reigning order is a kind of thanatcisim.

The best traditional knowledge disciplines can do is to focus in tightly on some small, subsidiary problem, to just avoid the big picture and look at some detail. That no longer suffices. Traditional forms of knowledge production, which focus on minor or subsidiary kinds of knowledge are still too dangerous. All of them start to discover the traces of thanaticism at work.

So the university mast be destroyed. In its place, a celebration of all kinds of non-knowledge. Whole new disciplines are emerging, such as the inhumanities and the antisocial sciences. Their object is not the problem of the human or the social. Their object is thanaticism, its description and justification. We are to identify with, and celebrate, that which is inimical to life. Such an implausible and dysfunctional belief system can only succeed by abolishing its rivals.

All of which could be depressing. But depression is a subsidiary aspect of thanaticism. You are supposed to be depressed, and you are supposed to think that’s your individual failing or problem. Your bright illusory fantasy-world is ripped away from you, and the thanatic reality is bared – you are supposed to think its your fault. You have failed to believe. See a shrink. Take some drugs. Do some retail therapy.

Thanaticism also tries to incorporate those who doubt its rule with a make-over of their critique as new iterations of thatatic production. Buy a hybrid car! Do the recycling! No, do it properly! Separate that shit! Again, its reduced to personal virtue and responsibility. Its your fault that thanaticism wants to destroy the world. Its your fault as a consumer, and yet you have not choice but to consume.

“We later civilizations… know too that we are mortal,” Valery said in 1919. At that moment, after the most vicious and useless war hitherto, such a thing could appear with some clarity. But we lost that clarity. And so: a modest proposal. Let’s at least name the thing after its primary attribute.

This is the era of the rule of thanaticism: the mode of production of non-life. Wake me when its over."
capital  capitalism  porperty  well-being  2015  mckenziewark  civilization  society  consumerism  death  thanaticism  latecapitalism  neoliberalism  thanatos  jennifermills  thatcherism  billmckibben  climatechange  economics  politics  politicaleconomy  exchangevalue  privatization  space  biopower  thanopower  gamechanging  socialscience  knowledge  disciplines  non-knowledge  humanities  universities  highered  highereducation 
october 2015 by robertogreco
Intervention – “Vernacular Values: Remembering Ivan Illich” by Andy Merrifield |
"Illich had it in for professional institutions of every kind, for what he called “disabling professions”; this is what interests me most in his work, this is what I’ve been trying to revisit, trying to recalibrate and reload, in our own professionalised times. I’ve been trying to affirm the nemesis of professionalism: amateurs. Illich said professionals incapacitate ordinary peoples’ ability to fend for themselves, to invent things, to lead innovative lives beyond the thrall of corporations and institutions. Yet Illich’s war against professionalism isn’t so much a celebration of self-survival (letting free market ideology rip) as genuine self-empowerment, a weaning people off their market-dependence. We’ve lost our ability to develop “convivial tools”, he says, been deprived of our use-value capacities, of values systems outside the production and consumption of commodities. We’ve gotten accustomed to living in a supermarket.

Illich’s thinking about professionalisation was partly inspired by Karl Polanyi’s magisterial analysis on the “political and economic origins of our time”, The Great Transformation (Beacon Press, 1944). Since the Stone Age, Polanyi says, markets followed society, developed organically as social relations developed organically, from barter and truck systems, to simple economies in which money was a means of exchange, a mere token of equivalent worth. Markets were always “embedded” (a key Polanyi word) in social relations, always located somewhere within the very fabric of society, whose institutional and political structure “regulated” what markets could and couldn’t do. Regulation and markets thus grew up together, came of age together. So “the emergence of the idea of self-regulation”, says Polanyi, “was a complete reversal of this trend of development … the change from regulated to self-regulated markets at the end of the 18th century represented a complete transformation in the structure of society.”

We’re still coming to terms with this complete transformation, a transformation that, towards the end of the 20th century, has made the “disembedded” economy seem perfectly natural, perfectly normal, something transhistorical, something that always was, right? It’s also a perfectly functioning economy, as economic pundits now like to insist. Entering the 1990s, this disembedded market system bore a new tagline, one that persists: “neoliberalism”. Polanyi’s logic is impeccable: a “market economy can exist only in a market society.”

Inherent vices nonetheless embed themselves in this disembedded economy. Land, labour and money become vital parts of our economic system, of our speculative hunger games. But, says Polanyi, land, labour and money “are obviously not commodities” (his emphasis). “Land is only another name for nature, which is not produced by man”, he says; “labour is only another name for human activity which goes with life itself”; “actual money … is merely a token of purchasing power which, as a rule, is not produced at all, but comes into being through the mechanism of banking or state finance”. Thus “the commodity description of labour, land and money is entirely fictitious”, a commodity fiction, the fiction of commodities.

Still, we live in fictitious times (as filmmaker Michael Moore was wont to say): land, labour and money as commodities provide us with the vital organising principle of our whole society. So fiction remains the truth, and fictitious truth needs defending, needs perpetuating; the postulate must be forcibly yet legitimately kept in place. But kept in place how, and by whom? By, we might say, a whole professional administration, by a whole professional cadre, by a whole professional apparatus that both props up and prospers from these fictitious times. Professionalism is the new regulation of deregulation, the new management of mismanagement, an induced and imputed incapacitation."

"Vernacular values are intuitive knowledges and practical know-how that structure everyday culture; they pivot not so much—as Gramsci says—on common sense as on “good sense”. They’re reasonable intuitions and intuitive reason: words, habits and understandings that inform real social life—the real social life of a non-expert population. Illich reminds us that “vernacular” stems from the Latin vernaculam, meaning “homebred” or “homegrown”, something “homemade”. (We’re not far from the notion of amateur here.) Vernacular is a mode of life and language below the radar of exchange-value; vernacular language is language acquired without a paid teacher; loose, unruly language, heard as opposed to written down. (“Eartalk”, Joyce called it in Finnegans Wake, a language for the “earsighted”.) To assert vernacular values is, accordingly, to assert democratic values, to assert its means through popular participation."

"Illich chips in to add how professionals peddle the privileges and status of the job: they adjudicate its worthiness and rank, while forever tut-tutting those without work. Unemployment “means sad idleness, rather than the freedom to do things that are useful for oneself or for one’s neighbour”. “What counts”, Illich says, “isn’t the effort to please or the pleasure that flows from that effort but the coupling of the labour force with capital. What counts isn’t the achievement of satisfaction that flows from action but the status of the social relationship that commands production—that is, the job, situation, post, or appointment”.

Effort isn’t productive unless it’s done at the behest of some boss; economists can’t deal with a usefulness of people outside of the corporation, outside of stock value, of shareholder dividend, of cost-benefit. Work is only ever productive when its process is controlled, when it is planned and monitored by professional agents, by managers and the managers of managers. Can we ever imagine unemployment as useful, as the basis for autonomous activity, as meaningful social or even political activity?"

"Perhaps, during crises, we can hatch alternative programmes for survival, other methods through which we can not so much “earn a living” as live a living. Perhaps we can self-downsize, as Illich suggests, and address the paradox of work that goes back at least to Max Weber: work is revered in our culture, yet at the same time workers are becoming superfluous; you hate your job, your boss, hate the servility of what you do, and how you do it, the pettiness of the tasks involved, yet want to keep your job at all costs. You see no other way of defining yourself other than through work, other than what you do for a living. Perhaps there’s a point at which we can all be pushed over the edge, voluntarily take the jump ourselves, only to discover other aspects of ourselves, other ways to fill in the hole, to make a little money, to maintain our dignity and pride, and to survive off what Gorz calls a “frugal abundance”.

Perhaps it’s time to get politicised around non-work and undercut the professionalisation of work and life. In opting out, or at least contesting from within, perhaps we can create a bit of havoc, refuse to work as we’re told, and turn confrontation into a more positive device, a will to struggle for another kind of work, where use-value outbids exchange-value, where amateurs prevail over professionals. If, in times of austerity, capitalists can do without workers, then it’s high time workers (and ex-workers) realise that we can do without capitalists, without their professional hacks, and their professional institutions, that we can devise work without them, a work for ourselves. Illich throws down the gauntlet here, challenges us to conceive another de-professionalised, vernacular non-working future. He certainly gets you thinking, has had me thinking, and rethinking, more than a decade after I’ve had any kind of job."
via:javierarbona  ivanillich  professionals  experts  amateurs  economics  conviviality  karlpolanyi  politics  capitalism  neoliberalism  empowerment  self-empowerment  unschooling  deschooling  production  consumption  corporatism  corporations  institutions  self-survival  invention  innovation  markets  society  labor  land  commodities  nature  money  michaelmoore  andymerrifield  bureaucracy  control  systems  systemsthinking  deregulation  regulation  management  incapacitation  work  vernacula  vernacularvalues  values  knowledge  everyday  culture  informal  bullshitjobs  andrégorz  antoniogramsci  marxism  ideleness  freedom  capital  effort  productivity  socialactivism  maxweber  time  toolsforconviviality 
july 2015 by robertogreco
Entrepreneurs don’t have a special gene for risk—they come from families with money - Quartz
"We’re in an era of the cult of the entrepreneur. We analyze the Tory Burches and Evan Spiegels of the world looking for a magic formula or set of personality traits that lead to success. Entrepreneurship is on the rise, and more students coming out of business schools are choosing startup life over Wall Street.

But what often gets lost in these conversations is that the most common shared trait among entrepreneurs is access to financial capital—family money, an inheritance, or a pedigree and connections that allow for access to financial stability. While it seems that entrepreneurs tend to have an admirable penchant for risk, it’s usually that access to money which allows them to take risks.

And this is a key advantage: When basic needs are met, it’s easier to be creative; when you know you have a safety net, you are more willing to take risks. “Many other researchers have replicated the finding that entrepreneurship is more about cash than dash,” University of Warwick professor Andrew Oswald tells Quartz. “Genes probably matter, as in most things in life, but not much.”

University of California, Berkeley economists Ross Levine and Rona Rubenstein analyzed the shared traits of entrepreneurs in a 2013 paper, and found that most were white, male, and highly educated. “If one does not have money in the form of a family with money, the chances of becoming an entrepreneur drop quite a bit,” Levine tells Quartz.

New research out this week from the National Bureau of Economic Research (paywall) looked at risk-taking in the stock market and found that environmental factors (not genetic) most influenced behavior, pointing to the fact that risk tolerance is conditioned over time (dispelling the myth of an elusive “entrepreneurship gene“).

Resilience is undoubtably a necessary trait for success; many notable entrepreneurs experienced success only after leading failed ventures. But the barrier to entry is very high.

For creative professions, starting a new venture is the ultimate privilege. Many startup founders do not take a salary for some time. The average cost to launch a startup is around $30,000, according to the Kauffman Foundation. Data from the Global Entrepreneurship Monitor show that more than 80% of funding for new businesses comes from personal savings and friends and family.

“Following your dreams is dangerous,” a 31-year-old woman who runs in social entrepreneurship circles in New York, and asked not to be named, told Quartz. “This whole bulk of the population is being seduced into thinking that they can just go out and pursue their dream anytime, but it’s not true.”
So while yes, there’s certainly a lot of hard work that goes into building something, there’s also a lot of privilege involved—a factor that is often underestimated."
entrepreneurship  economics  business  inequality  wealth  2015  startups  aimeegroth  oligarchy  plutocracy  establishment  risk  risktaking  capital  capitalism  finance  privilege  conservatism 
july 2015 by robertogreco
Moral Aspects of Basic Income
"The fall of Adam and Eve is a metaphor for the demise of our hunter-gatherer lifestyle. Eden is the recollection of an oppressed peasantry of the more humane world of their happier ancestors. Before we bit the apple, we lived off the fat of the land. Hunter-gatherers lived longer, ate better, and worked less than their agriculturalist descendants. Average adult height, an excellent proxy for childhood nutrition did not return to levels seen in the Palaeolithic until a mere 150 years ago.

Archaeologists tell us the invention of farming may well have been the greatest calamity to befall our species. Kings and slaves, property and war all were by-products of agriculture. Even today, even when forced onto marginal lands, hunter-gather tribes often prefer to retain their old ways rather than till the soil. “Why work hard when god made so many mongongo nuts?” ask the !Kung of southern Africa.

The lifestyle of hunter gathers is much more easygoing than that of serfs and peasants. Subsistence agriculturalists worked from sunup to sundown. Hunter-gatherers “worked” a few hours a day. That was enough to feed and clothe and house their families. The rest of the time they could socialize, play games, tell stories. And “work” back then was hunting antelope with your mates or strolling through the savannah looking for nuts and berries. Farmers overwhelmed hunter-gatherers, not because their lives were more pleasant but because farming makes land so much more productive.

Of course, we cannot go back to those happier days. Farming can feed up to 100 times as many people from the same plot of land and soon farmers outnumbered hunter-gatherers. An expanding population locked humanity into a constant and arduous grind. Until now."

"A number of us here at Pieria have argued that a basic income guarantee (also called a negative income tax) will not only reignite the economy and overcome secular stagnation, it will be the salvation of capitalism. Yes, it provides a safety net for the most unfortunate and yes, it reduces inequality, but most important, by creating steady and dependable demand, it cures capitalism’s only weakness, over-production. By putting money in consumers’ pockets, a basic income guarantees consistent demand and so gives the private sector confidence to hire and invest.

The economics of this proposal strike me as clear and convincing. I want to focus now on its ethical implications. On the one hand, helping the poorest citizens seems the Christian (or Muslim or Jewish or   Buddhist or humane) thing to do. In a wealthy society, it is unnecessarily cruel   that anyone among us should lack shelter, warmth and food. A negative income tax takes care of our most vulnerable without creating another government bureaucracy."

"If a conservative is someone who cherishes the time-honoured ways, is a bit odd that conservatives should exalt free markets. After all, capitalism is the most revolutionary force the world has ever known. Whenever it meets a traditional society, it turns it upside down. The rise of fundamentalism, in the Islamic world, in America, in India, is a global phenomenon and so requires a global explanation. The simplest is that capitalism, by shattering age-old relationships leaves many of us lost and alienated without the ancient verities that gave logic to our lives. “All that is solid melts into air. All freed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify.”

Capitalism has been magnificent in producing wealth and increasing productivity. Unfortunately, It happily serves our baser instincts. GDP goes up whether we spend on guns and Internet porn or education and opera tickets. When money is the measure of the man, when consumption is our only goal our culture becomes shallower, and perhaps so do our relationships. And it is getting worse.

Thrift was the original capitalist virtue. According to Max Weber, upright burghers would limit consumption in order to purchase productive machinery or finance transoceanic voyages. By avoiding sumptuous consumption, our frugal protocapitalist could invest his capital and so increase society’s productive capacity. That was admirable. That was then.

Today, thrift is passé. These days, we serve capitalism by buying stuff, even stuff we don’t need. Thrift no longer has much economic purpose. We have a savings glut, we have a labour glut, what we don’t have is a consumption glut. The world economy doesn’t require prudent savers, it needs us to max out our credit cards just to keep unemployment below 7%. No wonder our children are obsessed with buying the coolest football boots or the dress they saw in Vogue. It is as consumers that we best serve global capitalism. Sadly this addiction to consumption may offer a bump to GDP but it does not create happiness.

What makes us happy, as Adam Smith recognized in The Theory of Moral Sentiments (the book he thought his masterpiece) is the regard of others. What brings me joy is not a new toy but the look on my wife’s face that tells me she loves me. What makes me happy at work is not the corner office but what that symbolizes: the sense that my boss admires and respects my talent and effort. A man buys an expensive watch because he thinks it will impress his mates but sadly, no one even notices. When a middle aged man pulls up in a candy red Ferrari, he rarely makes the impression he had hoped when he put down his credit card.

What we admire in others are not their possessions but rather the same virtues we admired back in the Palaeolithic: kindness, loyalty, bravery, generosity, beauty, strength and a sense of humour. Check out the personals ads: a sense of humour trumps an expensive watch every time. Today most of us work long hours, seeing our children less than we would like while others are utterly idle, unable to find work at all. We act as though we live in a world of scarcity when actually will live in a world our ancestors would have thought abundant beyond their wildest dreams. In terms of material comfort, you and I and even the guy in the hoodie down at the council estate live better than Charlemagne or Cleopatra.

Hunter-gatherers shared. Farmers and factory workers, for the most part, did not. In many tribes, a successful hunter would give away 90% of the meat from his kill. He certainly gained respect (and perhaps female companionship) for his prowess but the families of mediocre hunters also got to eat. Anthropologists suggest this propensity for generosity served everyone’s interests. Since no one family can eat an entire buffalo and even the best hunter sometimes goes a while without a kill, sharing the proceeds of a hunt is not just generous, it is an economically sensible insurance policy. So is a basic income guarantee.

We can afford a basic income guarantee. We can give every citizen enough money to survive. It will stimulate an economy starved of demand. It will make our society more equitable. It will feed the hungry and house the homeless. It respects the individual. It provides a constant level of demand that firms can depend on and so stimulate the animal spirits of businessmen. It will strengthen workers bargaining position because they will be able to tell their employers to “take this job and shove it.” It will also reduce labour costs since firms won’t be required to provide a living wage. It will give us more free time to dance and play and love our children. I would also suggest, it might just end up making us better human beings. "
economics  politics  universalbasicincome  christianity  ethics  morality  2013  maragretthatcher  larrysummers  labor  work  history  capitalism  freemarkets  markets  tomstreithorst  adamsmith  thrift  kindness  loyalty  bravery  generosity  johngrey  neoliberalism  malthus  karlmarx  capital  hunter-gatherers  ubi 
february 2015 by robertogreco
What Was the Job? - Pacific Standard: The Science of Society
"This was a year in which the difference between capital and cash, equity and salary, the sifter and the dam, became more apparent than ever, a separation that Thomas Piketty’s popular economics tome Capital helped to drive home. Piketty’s theory is that capital—shares of companies, real estate, other factors of production—reproduces wealth faster than the salary gains of a traditional job, hence our rapidly inflating inequality of the one percent, and the 0.01 percent.

But we are not all entrepreneurs, nor can all of us aspire or afford to be! To argue that the disappearance of the job is an emancipation rather than a bereavement is to force the ideology of start-ups on all workers even though a culture of mutual support has not emerged between technology companies and the larger population. When Apple—which still lacks a corporate giving program—pays less of a percentage on its profits than most individuals, that ethos is not just wrong but deadly.

IT’S NOT THAT WE can’t afford to give everyone jobs and salaries and health care. Technology corporations are absorbing more venture funding and retaining more liquid cash than ever before. Rather, it’s an attitude that is changing, that workers are more useful separated than together, that CEOs benefit more from coddling their highest-paid employees than making sure the entirety of their workforce is satisfied with the company’s business structure.

The result of this joblessness is a disenfranchised workforce that feels a right to the same benefits it once had but now lacks and does not understand why they are suddenly missing. Venture capitalists, star developers, and management will retain all of the standard advantages of the old jobs, with the added sweeteners of sprawling offices made from the shells of former industrial factories, catered lunches, Ping-Pong tables, and equity. As 2015 arrives, everyone else might be wise to seek out local co-working space before all the other mini-entrepreneurs beat us to it."
2014  inequality  kylechayka  freelancing  jobs  work  joblessness  economics  capital  thomaspiketty 
december 2014 by robertogreco
we live in the dark - Meta: Snowpiercer
[See also:
and everything within.]

"It’s hard to know if Gilliam did conspire with Wilford to bring about Curtis’s revolution; if Gilliam intended the revolution to fail but changed his mind after the Water Section, if he always intended Curtis to take Wilford’s place; or if all that was Wilford’s lie—Gilliam warned Curtis, don’t let Wilford talk, cut out his tongue. Wilford’s knowledge of their conversation about having two arms strongly suggests that Gilliam conspired with Wilford.

But the ambiguity is the point: within capitalism you’re never certain that any “resistance” hasn’t already been co-opted and repurposed and undermined by the system you’re trying to escape.

When Curtis reaches the Front Section he falls to his knees before the Engine, overwhelmed and awed and horrified—the same quasi-religious fervour shown by Wilford and Mason. It’s reminiscent of Coppola’s Apocalypse Now and Conrad’s Heart of Darkness, when the journey up river culminates in a view of the unseen tyrannical figurehead, an awesome and shameful creature. Curtis is the train; is the system; is Wilford’s natural & inevitable successor, the white-man heir to his throne. The man who can ensure the system’s survival and oversee the next generation of subjugated souls. Edgar inadvertently predicts this at the very beginning:
"What I mean is he’s gonna die someday. And when that happens you’re gonna have to take over. You’re going to have to run the train […] I think you’d be pretty good, if you ask me."

Curtis’s revolution serves the system it threatens—helps to fulfil the killing quotas to keep the population down. Keeps the fishtank in equilibrium.

By sacrificing his arm to stop the train and free Timmy, Curtis begins to make amends for his crimes seventeen years ago. But he’s only ever half-redeemed. He can’t ever escape, and his violence will always be reabsorbed back into the social order, drained of all its subversive power.

Most crucially, Curtis doesn’t believe in life outside the train; that survival is possible, that the result would be anything but death and annihilation. He can only imagine the train. The irony of the word “revolution” is that it describes a circle, like the endless turning of the Sacred Engine—round and round and round, forever. That would be the legacy of Curtis’s revolution—if it weren’t for Nam.


"Fundamentally, Snowpiercer is a film about parents and children, the legacies of generations. Parents should strive to leave their children the best possible world; but today’s children inherit the ideologies and inequalities and injustices of morally bankrupt predecessors. They inherit a world threatened by global warming and environmental collapse, thanks to the rapacious plunderings of capitalism.

Worse, children are taught to adore that monstrous world. Perhaps the most disturbing sequence in Snowpiercer takes place in the school car, a grotesque hypersaturated parody of a classroom environment.

You see the next generation of Front Section children taught to worship the Engine and its messianic Conductor, immunised to the violence and horror that system wreaks [in the first shot of the classroom all the children are faceless; dehumanised, as though not real children at all].

And the hand gestures they make in reverence to the Engine are the same gestures made by Tail Section children who become dehumanised organic-mechanical parts of the Engine. This is how propaganda works: it condenses an entire ideology into a few visual or verbal signs that can be replicated ad infinitum. And these privileged children are unwittingly complicit in the subjugation of Tail Section children. The system dehumanises everyone, front to tail.

The teacher responsible for “breeding” this ideology is pregnant, a symbol of perverted maternalism—a next generation already corrupted. She parallels Wilford, who sought to make Curtis the son and heir to the corrupt system. Curtis, too, is a failed father: he sacrifices his symbolic “son” Edgar in order to capture Mason; and the “new world” he intends to create for the next generation will look identical to the last. [Had Curtis died at Yekaterina, it seems clear that Edgar would’ve been groomed by Gilliam to lead the next revolution.]

On the other hand, Tanya is a brave and brilliant mother who fights and dies for the cause.

But she’s never reduced to a maternal figure: she’s a fierce revolutionary who fights and survives the Battle of Yekaterina Bridge [where dozens die], and who drives Curtis onward. Her beating by the soldiers is meant to invoke the beating by police of Rodney King which sparked the LA riots of 1992, another citizen uprising against oppressive violence [x]. In Tanya the personal and political are wound together: in her mind, political resistance and freeing her son are one and the same goal—she wants his liberation, in every sense.

And Namgoong is the real father of the revolution, Snowpiercer’s radical imagination. Before Curtis finds them, he and his daughter Yona exist in a liminal countercultural space within the train, taking hallucinogenic drugs rather than experience its horrific reality.

Namgoong is not interested in the Sacred Engine—his ideas are “above Curtis’s” [x]. Nam cares to see the world beyond the train; he knows that the conditions which “required” the train’s creation have begun to recede. Nam protects Yona at all costs; and once they pass the Water Section he begins to plan their escape. He demands more for his daughter than the same system in new [white] hands."

[More Snowpiercer: ]
snowpiercer  capitalism  revolution  reform  2014  bongjoon-ho  anarchism  education  indoctrination  marxism  capital  counterculture  via:sophia 
november 2014 by robertogreco
BBC - Blogs - Adam Curtis - HAPPIDROME - Part One
"In the battle for Kobane on the Syrian border everyone talks about the enemy - IS - and the frightening ideas that drive them. No-one talks about the Kurdish defenders and what inspires them.

But the moment you look into what the Kurds are fighting for - what you discover is absolutely fascinating. They have a vision of creating a completely new kind of society that is based on the ideas of a forgotten American revolutionary thinker.

He wanted to create a future world in which there would be no hierarchies, no systems that exercise power and control individuals. And the Kurds in Kobane are trying to build a model of that world.

It means that the battle we are watching night after night is not just between good and evil. It is also a struggle of an optimistic vision of the future against a dark conservative idea drawn from the past.

It is a struggle that may also have great relevance to us in the west. Because the revolutionary ideas that have inspired the Kurds also shine a powerful light on the system of power in Britain today. They argue that we in the west are controlled by a new kind of hierarchical power that we don’t fully see or understand.

There are two men at the heart of this story.

One is the American revolutionary thinker. He is called Murray Bookchin. Here is a picture of Bookchin looking revolutionary.

The other man is called Abdullah Ocalan. He is the leader of the Kurdish revolutionary group in Turkey - the PKK

Here he is in 1999 after he had been captured by Turkish security forces and was on his way to a jail on a tiny island in the Sea of Marmara where he would be the only prisoner.

In his solitude he would start to read the theories of Murray Bookchin and decide they were the template for a future world.

Both men began as hardline marxists.

Murray Bookchin was born in New York in 1921. In the 1930s he joined the American Communist Party. But after the second world war he began to question the whole theory that underpinned revolutionary marxism.

What changed everything for him was the experience of working in a factory. Bookchin had gone to work for General Motors - and he realized as he watched his fellow workers that Marx, Lenin and all the other theorists were wrong about the working class.

The Marxist theory said that once working men and women came together in factories the scales would fall from their eyes - and they would see clearly how they were being oppressed. They would also see how they could bond together to become a powerful force that would overthrow the capitalists.

Bookchin saw that the very opposite was happening. This was because the factory was organised as a hierarchy - a system of organisation and control that the workers lived with and experienced every second of the day. As they did so, that hierarchical system became firmly embedded in their minds - and made them more passive and more accepting of their oppression.

But Bookchin didn’t do what most disillusioned American Marxists in the 1950s did - either run away to academia, or become a cynical neo-conservative. Instead he remained an optimist and decided to completely rework revolutionary theory.

Here is Bookchin in 1983 talking about how his thinking became transformed - and how his factory experiences led him towards anarchism. It’s part of a fantastic film called Anarchism in America - as well as Bookchin it’s got a great bit with Jello Biafra, and it’s really worth watching if you can get hold of it.


Watching these sections of the film does make you think that what is being described is spookily close to the system we live in today. And that maybe we have misunderstood what really has emerged to run society since the 1980s.

The accepted version is that the neo-liberal right and the free market triumphed. But maybe the truth is that what we have today is far closer to a system managed by a technocratic elite who have no real interest in politics - but rather in creating a system of rewards that both keeps us passive and happy - and also makes that elite a lot of money.

That in the mid 1980s the new networks of computers which allowed everyone to borrow money came together with lifestyle consumerism to create a system of social management very close to Skinner’s vision.

Just like in the mental hospital we are all given fake money in the form of credit - that we can then use to get rewards, which keep us happy and passive. Those same technologies that feed us the fake money can also be used to monitor us in extraordinary detail. And that information is then used used to nudge us gently towards the right rewards and the right behaviours - and in extremis we can be cut off from the rewards.

The only problem with that system is that the pigeons may be getting restless. That not only has the system not worked properly since the financial crash of 2008, but that the growing inequalities it creates are also becoming a bit too obvious. The elite is overdoing it and - passive or not - the masses are starting to notice.

Which makes the alternative - the vision put forward by Lewis Mumford in the film, and which inspired Murray Bookchin - and the Kurds, seem more interesting as an alternative.

Here is Mumford from the film. He starts by criticising the managed utopia - how it turns people into sleepwalkers. He has a great quote:

“You reward them. You make people do exactly what you want with some form of sugar-coated drug or candy which will make them think they are actually enjoying every moment of it.

This is the most dangerous of all systems of compulsion. That’s why I regard Skinner’s utopia as another name for Hell. And it would be a worse hell because we wouldn’t realise we were there.

We would imagine we were still in Heaven.”

Mumford then goes on to describe eloquently the alternative, a system of direct democracy where we would all awake and become genuinely empowered - able to take part properly in deciding our destiny.

It is a powerful and optimistic vision of a new kind of progressive politics. But it has one very serious problem.

It means we would have to spend a lot of time going to meetings."
anarchism  2014  kurds  iraq  kobane  isis  murraybookchin  abdullahocalan  labor  marxism  hierarchy  hierarchies  horizontality  anarchy  oppression  revolution  optimism  jellobiafra  capital  capitalism  wagelabor  work  power  control  bfskinner  economics  domination  exploitation  gender  socialism  liberation  lewismumford  utopia  politics  oligarchy  neoliberalism  elitism  conditioning  compulsion  autonomy  behaviorism  hermankahn  hudsoninstitute  technocrats  1983  technocracy 
november 2014 by robertogreco
Hope and Ka-ching - The Baffler
"There are at least 150 million members of cooperatives in the United States, if you include retail, housing, agricultural, electrical, insurance, and most other types of co-ops. Eleven thousand American companies are owned wholly or in part by their workers through employee stock-ownership plans. Where these two groups intersect and go even further is in the four hundred worker cooperatives that exist in this country, enterprises that are owned by members and democratically run. As for cooperative factories, New Era is a rarity, among the only operations of its kind in the United States."

"Horizontalism is not simply about being fair to old friends. Nor is it about passing a political litmus test or pretending everyone has identical abilities. Instead, it is a practical matter, a way of mitigating the uncertainty and sacrifice the task requires of all involved, even if it means supporting those who are less proficient or those who are unable to work as hard as others due to unforeseen circumstances. Toward this end, the group recently affirmed their commitment to “solidarity economics,” specifically assuring that all future workers will be members. Despite the disproportionate role played by the founders, every worker, present and future, must be given a “buy-in” that will make them all legitimate owners of capital and make it harder for the business to demutualize, as some cooperatives have in the past. Essentially, they want to be blocked from someday becoming the bosses they deplore.

Starting New Era, one worker told me, was a “survival strategy” pure and simple, a way to “stop the abuse” they had suffered. Making windows for Republic, Robles said, was “a type of modern slavery,” with every minute logged and monitored through a complicated tracking system. Now they move freely, working and breaking when they need to, with a sense of purpose that Robles says gets him happily out of bed at dawn without the help of an alarm clock. Arizona Stingley, who was a nanny for white families in Mississippi in her younger days, told me there was simply no comparison between Republic and New Era. “It was divide and conquer by the boss. They were always pitting Mexicans against blacks,” she recalled. “And it worked. People wouldn’t want to teach you anything because they were afraid you’d take their job.” The groups sat at different tables at lunch and rarely mingled across race lines. Now they share skills instead of regarding each other as threats.

Experiences like these have convinced the New Era crew that cooperatives are the wave of the future. “Bosses, at any minute they can close the plant and just destroy your life. They say it’s your job, but really it’s their job to take away,” said Maclin, whose fluency in English is a resource for the predominantly Spanish-speaking crew. He likened his awakening over the last few years to the movie Star Wars: “You know how it says, the power is with you, the force is with you? Well the power is with us. The force is with us. We are the work force. We’re taking back the power we already have.”

"History abounds with examples of cooperative ambitions; unfortunately, it also contains an almost equal number of failures.

The stumbling block, nearly every time, has been lack of access to capital. Workers are more than capable of managing things on their own—work, after all, goes on whether the bosses are in their offices or out on the putting green. But the money to purchase equipment and pay for space and materials has always been hard to come by for the proletariat. After owners shut down the Youngstown Sheet and Tube steel mill in the late 1970s, a landmark event in the history of deindustrialization, workers made plans to run it themselves; they were stopped when the Carter administration failed to come up with the $100 million in financing it had promised. In 1996 the CEO of Republic Windows and Doors was able to secure nearly $10 million in financing through a public program that diverted property-tax revenue from schools and parks to expand his private company. In 2012 the workers needed just a petty sum to buy the business, but for them there was no public investment to be found.

Finance, as Martin sees it, is the key to getting significant control of wealth into workers’ hands. “There is this myth of capitalism that says that the 1 percent invest productively, but the fact is, we don’t need them,” Martin explains. “They said, ‘If you don’t bail us out, there won’t be jobs.’ But their aim isn’t to make jobs; it’s to make money for themselves. Finance, as it is currently set up, is parasitic. It’s extractive. But what if it was productive instead? What if it actually invested in the community instead of always sucking money out?” The Working World, which has lent out over $4 million in less than ten years, is Martin’s answer to that question."

"Karl Marx wrote approvingly of cooperatives, insisting that the “value of these great social experiments cannot be overrated.” Nonetheless, he probably would have scorned the “small is beautiful” attitude of those cooperators who are content to stay on the fringe, who lack the oppositional spirit necessary to take on capitalism directly. He would also have scoffed at activists who believe they can practice and prefigure democracy without building institutions, accumulating resources, or holding power.

The cooperative activists themselves often recognize the problem. Marina Sitrin, the author of several books about horizontalism, never believed that the large assemblies that characterized the early days of Occupy Wall Street would be sustainable for a prolonged period. She told me that horizontalism needs to be grounded in a specific place and have a well-defined purpose in order to function. A hundred people debating abstract principles in a public forum will likely drive each other bonkers, but the same hundred people may be able to run a school or a health center or a factory if their community and lives depend on it. In other words, for consensus decision-making to be practicable, there has to be something at stake, something to stick to and stick with. You need a school or a health center or a factory."

"What remains to be seen is whether the current crop of cooperators and activists—the New Era window builders, Occupy and its post-disaster rebuilding efforts, and the USW with its plans for union-cooperative hybrids—will actually be able to change things. They look at Mondragon and the substantial cooperative networks in other countries, as well as the factory takeovers in Argentina and Greece, and believe we may be entering a cooperative renaissance spurred on by an endless economic slump. And maybe that is so. But cooperative momentum will flag if the movement doesn’t take the problem of finance seriously. Until we create loan funds or build banks that are committed to non-extractive economic growth, cooperatives will remain marginal phenomena, nice places to shop for organic food and get your bicycle repaired, but not much more.

One thing the cooperators can count on is self-interest. People will pursue worker control because it is more appealing than being exploited and then disposed of by employers whose only allegiance is to the bottom line. They will be drawn to structures that can help them support their families and communities, and these real, urgent needs will in turn encourage them to endure the vexations of direct democracy, to stick with it even though the meetings last for hours and comrades inevitably chafe. It’s still better than having a boss."
collectives  work  chicago  finance  astrataylor  2014  labor  horizontality  hierarchy  hierarchies  horizontalism  deindustrialization  via:Taryn  capital  mondragon  marinasitrin  brendanmartin  collectivism  anarchism  cooperatives  ows  occupywallstreet 
october 2014 by robertogreco
The NGO-ization of resistance | Massalijn
"A hazard facing mass movements is the NGO-ization of resistance. It will be easy to twist what I’m about to say into an indictment of all NGOs. That would be a falsehood. In the murky waters of fake NGOs set up or to siphon off grant money or as tax dodges (in states like Bihar, they are given as dowry), of course, there are NGOs doing valuable work. But it’s important to consider the NGO phenomenon in a broader political context.

In India, for instance, the funded NGO boom began in the late 1980s and 1990s. It coincided with the opening of India’s markets to neoliberalism. At the time, the Indian state, in keeping with the requirements of structural adjustment, was withdrawing funding from rural development, agriculture, energy, transport and public health. As the state abdicated its traditional role, NGOs moved in to work in these very areas. The difference, of course, is that the funds available to them are a minuscule fraction of the actual cut in public spending.

Most large-funded NGOs are financed and patronized by aid and development agencies, which are, in turn, funded by Western governments, the World Bank, the UN and some multinational corporations. Though they may not be the very same agencies, they are certainly part of the same loose, political formation that oversees the neoliberal project and demands the slash in government spending in the first place.

Why should these agencies fund NGOs? Could it be just old-fashioned missionary zeal? Guilt? It’s a little more than that. NGOs give the impression that they are filling the vacuum created by a retreating state. And they are, but in a materially inconsequential way. Their real contribution is that they defuse political anger and dole out as aid or benevolence what people ought to have by right. They alter the public psyche. They turn people into dependent victims and blunt the edges of political resistance. NGOs form a sort of buffer between the sarkar and public. Between Empire and its subjects. They have become the arbitrators, the interpreters, the facilitators.

In the long run, NGOs are accountable to their funders, not to the people they work among. They’re what botanists would call an indicator species. It’s almost as though the greater the devastation caused by neoliberalism, the greater the outbreak of NGOs. Nothing illustrates this more poignantly than the phenomenon of the U.S. preparing to invade a country and simultaneously readying NGOs to go in and clean up the devastation. In order make sure their funding is not jeopardized and that the governments of the countries they work in will allow them to function, NGOs have to present their work in a shallow framework, more or less shorn of a political or historical context. At any rate, an inconvenient historical or political context.

Apolitical (and therefore, actually, extremely political) distress reports from poor countries and war zones eventually make the (dark) people of those (dark) countries seem like pathological victims. Another malnourished Indian, another starving Ethiopian, another Afghan refugee camp, another maimed Sudanese…in need of the white man’s help. They unwittingly reinforce racist stereotypes and reaffirm the achievements, the comforts and the compassion (the tough love) of Western civilization. They’re the secular missionaries of the modern world.

Eventually–on a smaller scale, but more insidiously–the capital available to NGOs plays the same role in alternative politics as the speculative capital that flows in and out of the economies of poor countries. It begins to dictate the agenda. It turns confrontation into negotiation. It depoliticizes resistance. It interferes with local peoples’ movements that have traditionally been self-reliant. NGOs have funds that can employ local people who might otherwise be activists in resistance movements, but now can feel they are doing some immediate, creative good (and earning a living while they’re at it).

Real political resistance offers no such short cuts. The NGO-ization of politics threatens to turn resistance into a well-mannered, reasonable, salaried, 9-to-5 job. With a few perks thrown in. Real resistance has real consequences. And no salary."
arundhatiroy  via:dymaxion  2014  charitableindustrialcomplex  governance  ngos  resistance  politics  policy  consequences  speculation  capital  economics  power  control  confrontation  negotiation  salvationpolitics  racism  stereotypes  missionaries  funding  neoliberalism  depoliticization  appeasement  charity  philanthropy  markets  bloodmoney  development  colonization  colonialism  philanthropicindustrialcomplex  capitalism 
september 2014 by robertogreco
Chapter 4 of An Autobiography: The Story of My Experiments with Truth by Mohandas K. Gandhi
[Wayback: ]

"This sad situation developed after my departure from South Africa, but my idea of having permanent funds for public institutions underwent a change long before this difference arose. And now after considerable experience with the many public institutions which I have managed, it has become my firm conviction that it is not good to run public institutions on permanent funds. A permanent fund carries in itself the seed of the moral fall of the institution. A public institution means an institution conducted with the approval, and from the funds, of the public. When such an institution ceases to have public support, it forfeits its right to exist. Institutions maintained on permanent funds are often found to ignore public opinion, and are frequently responsible for acts contrary to it. In our country we experience this at every step. Some of the so-called religious trusts have ceased to render any accounts. The trustees have become the owners, and are responsible to none. I have no doubt that the ideal is for public institutions to live, like nature, from day to day. The institution that fails to win public support has no right to exist as such. The subscriptions that an institution annually receives are a test of its popularity and the honesty of its management, and I am of opinion that every institution should submit to that test. But let no one misunderstand me. My remarks do not apply to the bodies which cannot, by their very nature, be conducted without permanent buildings. What I mean to say it that the current expenditure should be found from subscriptions voluntarily received from year to year."

[Related: ]

[More on endowments: (.pdf)]
endowments  money  finance  colleges  universities  nonprofit  gandhi  institutions  power  control  democracy  management  permanent  funds  publicopinion  charitableindustrialcomplex  philanthropy  capital  wealth  organizations  permanence  impermanence  ephemeral  ephemerality  legacy  philanthropicindustrialcomplex  nonprofits  capitalism 
july 2014 by robertogreco
To Have and Have Not | Jedediah Purdy on Capital in the Twenty-First Century
"With that mission, Capital in the Twenty-First Century asks questions that blend empirical complexity and political urgency. How unequal is the division of wealth and income? How did it get that way, and where is it going? How worried should we be, and what can we do? And — check this out — are democracy and capitalism in conflict?

Spoiler alert: Yes. And Piketty’s answer spoils, in a different sense of the word, the longstanding conventional wisdom, supported by economics Nobel winners like Friedrich Hayek and Milton Friedman, plus lots of less controversial characters, that capitalism is democracy’s best friend. Free markets respect freedom by honoring personal choice, we’ve been told. They treat people as equals by tying economic rewards to social contributions and opening paths to social mobility. They check an overreaching government by dispersing power among owners, workers, and entrepreneurs. They create widely-shared wealth, so no one’s life needs to be hopeless or degraded.

Pretty to think so, but Piketty’s vast stockpile of new data, weaponized with some simple algebra, vaporizes that story. It shows a world getting radically more unequal, the return of hereditary wealth, and — at least in the US — an economy so distorted that much of what happens at the very top can be fairly described as class-based looting. And he gives some fairly strong reasons to suspect that this, not the relatively open and egalitarian economies of the mid-20th century, is what capitalism looks like.

Piketty’s book feels, itself, economical: it’s undramatic and almost always clear, and the French is handsomely translated by the indispensable Arthur Goldhammer. Reading it is like talking to a smart person who knows you’re smart and knows, too, that you’re not an economist. It’s a pleasure, but — and this is one measure of its success — it’s also a spur to frustration. Since Capital is economics on Piketty’s terms, it diagnoses, gives little comfort, and doesn’t pretend to offer a complete cure. So as it builds its case for an inexorable conflict between democracy and capitalism, it leads its reader to an urgent question it doesn’t, in itself, do all that much to answer: how can democracy prevail? After Piketty, this has to be our question."

"Suppose you care about civic equality, social mobility, the dignity of ordinary people, and the long-term prospects of democracies that need all these values. What to do in the face of rising inequality and oligarchy? Piketty recommends a small, progressive global tax on capital to draw down big fortunes and press back against r > g. He admits this idea won’t get much traction at present, but recommends it as a fixed point in political imagination, a measure of what would be worth doing and how far we have to go to get there.

It’s an excellent idea, but it also shows the limits of Piketty’s argument. He has no theory of how the economy works that can replace the optimistic theories that his numbers devastate. Numbers — powerful ones, to be sure — are what he has. He has counted things that were harder to count before now — income, asset value — and adorned the bottom line with some splendid formulas for holding onto their importance. But r > g, as Piketty readily admits, is not a theory of anything; it is a shorthand generalization of some historical facts about money’s tendency to make money. Those facts held in the agrarian and industrial societies of Europe and North America in the nineteenth century and seem to be holding in today’s industrial and post-industrial economies. But these are very different worlds. Is there something constant that unifies different versions of inequality — that unites plantation owners and Apple shareholders, in their shared privilege above bondsman and Best-Buy techs — or is the inequality itself the only constant? Without answers to these questions, we don’t have a theory of capitalism, just a time-lapse picture of it.

This is not only a theoretical problem. It bears on whether past is prologue, whether inequality yesterday forecasts inequality tomorrow. Without a theory of how the economy produces and allocates value, we can’t know whether r > g will hold into the future. This is essential to whether Piketty can answer his critics, who have argued that we shouldn’t worry much. They claim that rates of return on capital should fall rapidly toward that of the overall economy, as much mainstream theory would predict, or that the overall growth rate will spike with new technological innovations. Either would greatly blunt r > g. Piketty doesn’t really have an answer to these challenges, other than the weight of the historical numbers.

The lack of a general theory is a bit of an epistemic irony. Piketty’s work is a triumph of the Enlightenment aim to make the world intelligible, demystifying it by showing us the patterns that emerge from millions of facts. But by calling for economics to become a historical science, concerned with what has happened and is happening rather than with evermore refined mathematical models, he carries out a massive epistemic dethroning. History happens only once. Its “natural experiments” are few and highly incomplete. And casting light on big and inconvenient facts, he also points out an area of darkness; ignorance where we had been lulled into thinking we had knowledge."

"Piketty shows that capitalism’s attractive moral claims — that it can make everyone better off while respecting their freedom — deserve much less respect under our increasingly “pure” markets than in the mixed economies that dominated the North Atlantic countries in the mid-20th century. It took a strong and mobilized left to build those societies. It may be that capitalism can remain tolerable only under constant political and moral pressure from the left, when the alternative of democratic socialism is genuinely on the table. Piketty reminds us that the reasons for the socialist alternative have not disappeared, or even weakened. We are still seeking an economy that is both vibrant and humane, where mutual advantage is real and mutual aid possible. The one we have isn’t it.

Reading Piketty gives one an acute sense of how much we have lost with the long waning of real political economy, especially the radical kind. As mentioned, Piketty does not expect his one real proposal, a modest wealth tax, to go far in this political environment. Ideas need movements, as movements need ideas. We’ve been short on both. In trying to judge what to do about Piketty’s grim forecasts, there is a crevasse between “write op-eds advocating higher tax rates” and “rebuild the left.” It isn’t Piketty’s job to fill that gap, but he does show just how wide it yawns, and how devastating is the absence it represents."
thomaspiketty  economics  inequality  democracy  capitalism  capital  2014  jedidiahpurdy  freedom  wealth  incomeinequality  inheritance  taxes  morality  democraticsocialism  time  history 
april 2014 by robertogreco
Capitalism simply isn't working and here are the reasons why | Will Hutton | Comment is free | The Observer
"Like Friedman, Piketty is a man for the times. For 1970s anxieties about inflation substitute today's concerns about the emergence of the plutocratic rich and their impact on economy and society. Piketty is in no doubt, as he indicates in an interview in today's Observer New Review [ ], that the current level of rising wealth inequality, set to grow still further, now imperils the very future of capitalism. He has proved it.

It is a startling thesis and one extraordinarily unwelcome to those who think capitalism and inequality need each other. Capitalism requires inequality of wealth, runs this right-of-centre argument, to stimulate risk-taking and effort; governments trying to stem it with taxes on wealth, capital, inheritance and property kill the goose that lays the golden egg. Thus Messrs Cameron and Osborne faithfully champion lower inheritance taxes, refuse to reshape the council tax and boast about the business-friendly low capital gains and corporation tax regime.

Piketty deploys 200 years of data to prove them wrong. Capital, he argues, is blind. Once its returns – investing in anything from buy-to-let property to a new car factory – exceed the real growth of wages and output, as historically they always have done (excepting a few periods such as 1910 to 1950), then inevitably the stock of capital will rise disproportionately faster within the overall pattern of output. Wealth inequality rises exponentially.

The process is made worse by inheritance and, in the US and UK, by the rise of extravagantly paid "super managers". High executive pay has nothing to do with real merit, writes Piketty – it is much lower, for example, in mainland Europe and Japan. Rather, it has become an Anglo-Saxon social norm permitted by the ideology of "meritocratic extremism", in essence, self-serving greed to keep up with the other rich. This is an important element in Piketty's thinking: rising inequality of wealth is not immutable. Societies can indulge it or they can challenge it.

Inequality of wealth in Europe and US is broadly twice the inequality of income – the top 10% have between 60% and 70% of all wealth but merely 25% to 35% of all income. But this concentration of wealth is already at pre-First World War levels, and heading back to those of the late 19th century, when the luck of who might expect to inherit what was the dominant element in economic and social life. There is an iterative interaction between wealth and income: ultimately, great wealth adds unearned rentier income to earned income, further ratcheting up the inequality process.

The extravagances and incredible social tensions of Edwardian England, belle epoque France and robber baron America seemed for ever left behind, but Piketty shows how the period between 1910 and 1950, when that inequality was reduced, was aberrant. It took war and depression to arrest the inequality dynamic, along with the need to introduce high taxes on high incomes, especially unearned incomes, to sustain social peace. Now the ineluctable process of blind capital multiplying faster in fewer hands is under way again and on a global scale. The consequences, writes Piketty, are "potentially terrifying".

For a start, almost no new entrepreneurs, except one or two spectacular Silicon Valley start-ups, can ever make sufficient new money to challenge the incredibly powerful concentrations of existing wealth. In this sense, the "past devours the future". It is telling that the Duke of Westminster and the Earl of Cadogan are two of the richest men in Britain. This is entirely by virtue of the fields in Mayfair and Chelsea their families owned centuries ago and the unwillingness to clamp down on the loopholes that allow the family estates to grow."
capitalism  economics  inequality  wealth  2014  thomaspiketty  class  capital 
april 2014 by robertogreco
The conservative case against capitalism - The Week
"But the distributists still have something to offer contemporary conservatives, namely the ideas that economic freedom is measured by the way families flourish; that economic freedom means more than just an income with a boss or a government agency at the end of it; that real freedom is the ability to say no to tyrants in both the public and private spheres. They could profit much from Belloc's insights into how the plutocracy corrupts both representative government and the market. And they could also benefit from grounding their politics, as the early distributists did, not just in theories of liberty or trust in the invisible hand of the market, but in the supreme dignity of man."

"Chesterton, always the better stylist than Belloc, could work himself into righteous fury in defense of the distributist ideal over the capitalist one. He gave that ideal a peroration in the book What's Wrong with the World that suffices as a conclusion for this article, because it has all the revolutionary romance and inevitability of Marx, but more moral force and beauty:
With the red hair of one she-urchin in the gutter I will set fire to all modern civilization. Because a girl should have long hair, she should have clean hair; because she should have clean hair, she should not have an unclean home: because she should not have an unclean home, she should have a free and leisured mother; because she should have a free mother, she should not have an usurious landlord; because there should not be an usurious landlord, there should be a redistribution of property, because there should be a redistribution of property, there shall be a revolution. That little urchin with the gold-red hair, whom I have just watched toddling past my house, she shall not be lopped and lamed and altered; her hair shall not be cut short like a convict's; no, all the kingdoms of the earth shall be hacked about and multilated to suit her. She is the human and sacred image; all around her the social fabric shall sway and slip and fall; the pillars of society shall be shaken, and the roofs of ages come rushing down; and not one hair of her head shall be harmed.
capital  capitalism  conservatism  economics  via:ayjay  2014  gkchesterson  thomaspiketty  ryancooper  michaelbrendandougherty  freedom  independence  distributists  hilairebeloc  dignity  labor  property 
april 2014 by robertogreco
Saskia Sassen. OLD BORDERS AND NEW BORDERING CAPABILITIES: CITIES AS FRONTIER ZONES.[1] - Strelka Institute for media, architecture and design
"But these cities have also become a strategic frontier zone for those who lack power, those who are disadvantaged, outsiders, discriminated minorities. The disadvantaged and excluded can gain presence in such cities, presence vis a vis power and presence vis a vis each other. This signals the possibility of a new type of politics, centered in new types of political actors. It is not simply a matter of having or not having power. These are new hybrid bases from which to act, spaces where the powerless can make history even when they do not get empowered."

"The claim to a national bordered territory as a parameter for authority and rights has today entered a new phase.[4] State exclusive authority over its territory remains the prevalent mode of final authority in the global political economy; in that sense, then, state centered border regimes—whether open or closed—remain as foundational elements in our geopolity. But these regimes are today less absolute formally than they were once meant to be. Critical components of this territorial authority that may still have a national institutional form and location are actually no longer national in the historically constructed sense of that term; they are, I argue denationalized components of state authority: they look national but they are actually geared towards global agendas, some good (e.g. global civics, some not so good at all, e.g. global high-finance)."
empowerment  power  saskiasassen  2013  cities  urban  urbanism  borders  authority  politics  geopolitics  territory  denationalization  globalization  gatedcommunities  flows  capital 
july 2013 by robertogreco
Sowing Scarcity – The New Inquiry
"This is late capitalism’s inverted world, where business and government treat nature as infinite but strictly ration culture. Thus does capitalism, billed in every economics textbook as the supreme mechanism for allocating scarce resources, degenerate into a machine that introduces scarcity where it need not exist and blithely squanders the things that are in short supply.

Capitalism is itself a kind of social technology, one capable of organizing and managing a massive and complex division of labor without concentrating power over the system at any one point. But it is a technology that is much better suited to some tasks than others. When maximizing the output of commodities with the least input of human labor is posed as society’s main problem, capitalism’s defenders can point to it as an historically unsurpassed technology for this purpose.

If, however, the main problem is to maintain the ability of the Earth to support an advanced civilization, and to ensure that the bounty of…
ecosocialism  capital  legal  law  patents  intellectualproperty  ip  agriculture  monsanto  production  scarcity  peterfrase  2012  environment  capitalism  latecapitalism 
december 2012 by robertogreco
Toward Independence – Indiecade 2012 | Molleindustria
"There is a practical way to conceptualize the immensity & absurdity of this continuum. I borrow it from the Utopian & Anarchist thought.

Utopia is by definition unattainable but it provides a direction.

Utopia is a tiny flickering mirage at the horizon.

By the time you reach it Utopia already moved forward…yet an utopian idea is fundamental because it provides a direction.

It encourages you to a constant tactical engagement with the status quo. It pushes you to continuously break away from the forces & entities that make us miserable & are screwing up the world.

This is how I like to think about independence in gaming and in culture.

Not a status but a tension and a direction to pursue.

And the corollary is that we should not be here at these indie festivals to celebrate our little club, to exchange tricks on how to milk the indie brand for profit.

No: we should be here to conspire about how we can be *more* autonomous. About how we can move another steptoward independence."
freedom  independent  indie  corporations  post-fordism  alienation  creativework  automation  capital  autonomy  fordism  history  paolopedercini  cv  improvement  purpose  values  utopian  utopianism  utopianthinking  indiegames  anarchism  control  power  economics  videogames  molleindustria  2012  direction  vision  utopia  capitalism  labor  creativelabor  creativity  making  gamedesign  games  purity  vectors 
december 2012 by robertogreco
Discussion: The Edupunks' Guide [See the rest of the thread, which is likely to continue expanding.]
"When I read the title of the book, I immediately thought this was yet another example of how (formerly radical) subcultures are put to work to valorize and bring the practices of everyday life under capital.

It would be interesting to know whether and how the author of this book addresses this potential contradiction. Personally, I see punk and other oppositional subcultures as expressing and disclosing forms of life and self-learning that are powerful precisely because they are informal, uncodified and untranslatable into student credits.

In this case, there is also the additional risk that the DIY attitude may be mobilized as a form of endorsement "from below" of the rising online education industry sponsored by Republican governors such as Tim Pawlenty and Rick Perry. Or even worst to justify government cuts to spending in lower and higher education. After all, if we no longer need schools to learn why should we use taxpayers money for education?…"
anyakamenetz  edupunk  reform  policy  politics  stephendownes  jimgroom  marcodeseriis  mikecaufield  2011  appropriation  punk  radicalism  radicals  valorization  monetization  capitalism  capital  contradiction  subcultures  self-directedlearning  self-learning  unschooling  deschooling  spending  education  informal  informallearning  highereducation  highered 
august 2011 by robertogreco
Bezoar: The sorrows of finance capital
""It's an outrage that the priority of this university is not in favor with the students," said Jessie Fernandez, an SFSU senior who attended the meeting. His major, **urban studies and planning**, is currently threatened by the plan." (emphasis mine)

Urban Studies, of all things! So, Michael Maltzan, that's the crux of the neoliberal frenzy here in California. Where does architecture step in? Do we proceed with bloated buildings as the idea of what an open, accessible city is, or do we defend the spaces of our own discipline?"
javierarbona  sdsu  universities  finance  capital  architecture  michaelmaltzan  priorities  2011  education  highereducation  highered  open  accessibility  cities  california  budgetcuts 
march 2011 by robertogreco
n+1: The Bad Logic of the 2010 Midterm Elections
"§ American government is run by and for capital and capitalists.<br />
§ Most Americans hate government.<br />
§ Most Americans love capitalism and capitalists.<br />
<br />
Therefore either a. Most Americans really love their government.<br />
or b. Most Americans really hate capitalism.<br />
<br />
§ Contemporary American politics exists in the absurd space defined by the impossibility of openly acknowledging either a or b."<br />
<br />
2010  elections  logic  government  us  politics  capital  capitalism  humor 
november 2010 by robertogreco
Are the American people obsolete? - U.S. Economy -
"Have American people outlived their usefulness to rich minority in the US? A number of trends suggest the answer may be yes.

In every industrial democracy since end of WWII, there has been a social contract btwn the few & many. In return for receiving disproportionate amount of gains from economic growth in capitalist economy, rich paid disproportionate % of taxes needed for public goods & safety net for majority.

In N America & Europe, economic elite agreed to this bargain because they needed ordinary people as consumers & soldiers. W/out mass consumption, factories in which rich invested would grind to halt. W/out universal conscription in world wars, & selective conscription during Cold War, US & its allies might have failed to defeat totalitarian empires that would have created a world order hostile to market economy.

Globalization eliminated 1st reason for rich to continue supporting this bargain at nation-state level, while privatization of military threatens other…"
northamerica  globalization  economy  economics  future  outsourcing  rich  money  capitalism  immigration  politics  history  michaellind  class  disparity  emmigration  labor  war  military  privitazation  elite  socialdemocracy  taxes  society  poverty  international  capital 
august 2010 by robertogreco
YouTube - RSA Animate - Crises of Capitalism
"In this RSA Animate, radical sociologist David Harvey asks if it is time to look beyond capitalism towards a new social order that would allow us to live within a system that really could be responsible, just, and humane?"
davidharvey  capitalism  economics  politics  rsaanimate  homeownership  us  culture  germany  greece  policy  banks  finance  banking  canon  housing  worldbank  imf  neoliberalism  liberalism  alangreenspan  marxism  instability  systemicrisk  capitalaccumulation  crisis  labor  capital  1970s  1980s  unions  offshoring  power  wagerepression  wages  credit  creditcards  debt  personaldebt  2010  limits  greed  profits  industry  london  uk  latinamerica  wealth  india  china  inequality  incomeinequality  wealthinequality  hedgefunds 
june 2010 by robertogreco
Op-Ed Contributors - The Great Wallop -
"in China’s interest to kick its currency-intervention habit...heavily undervalued renminbi is key financial distortion in world economy today. If it persists for much longer, China risks losing the very foundation of its economic success: an open global trading regime...exactly what Obama can offer in return for a substantial currency revaluation of, say, 20-30% over next 12 months: clear commitment to globalization & free trade & end to nascent Chinese-American tariff war. For as long as People’s Republic has existed, US has been principal upholder of a world economic order based on free movement of goods & more recently, capital...has also picked up the tab for policing the oil-rich but unstable Middle East. No country has benefited more from these arrangements than China, & it should now pay for them through a stronger Chinese currency. Chimerica was always a chimera — an economic monster. Revaluing the renminbi will give this monster the peaceful death it deserves."
china  us  economics  policy  money  finance  capital  niallferguson 
november 2009 by robertogreco
The Value Every Business Needs to Create Now - Umair Haque - [related video:]
"Profit through economic harm to others results in what I've termed 'thin value.' Thin value is an economic illusion: profit that is economically meaningless, because it leaves others worse off, or, at best, no one better off. When you have to spend an extra 30 seconds for no reason, mobile operators win - but you lose time, money, and productivity. Mobile networks' marginal profits are simply counterbalanced by your marginal losses. That marginal profit doesn't reflect, often, the creation of authentic, meaningful value. Thin value is what the zombieconomy creates."
via:migurski  umairhaque  economics  business  zombieconomy  capitalism  innovation  strategy  success  competition  ethics  creativity  creation  capital  value  valueadded  finance  banking  crisis  gamechanging 
august 2009 by robertogreco
The Financialization of Capital and the Crisis - Monthly Review [see also:]
"radically different economic view...suggests normal path of mature capitalist economies...US, major Western European countries & Japan, is one of stagnation rather than rapid growth. In this perspective, today’s periodic crises...point to serious & growing long-term constraints on capital accumulation." ... "The hard truth of the matter is that the regime of monopoly-finance capital is designed to benefit a tiny group of oligopolists who dominate both production and finance. A relatively small number of individuals and corporations control huge pools of capital and find no other way to continue to make money on the required scale than through a heavy reliance on finance and speculation. This is a deep-seated contradiction intrinsic to the development of capitalism itself. If the goal is to advance the needs of humanity as a whole, the world will sooner or later have to embrace an alternative system. There is no other way."
via:javierarbona  capitalism  corporations  investment  financialization  johnbellamyfoster  banking  finance  crisis  economics  collapse  debt  leverage  capital  class  us  bubbles  greatdepression 
december 2008 by robertogreco
Cover story: 'A greedy giant out of control' by Jonathan Ford | Prospect Magazine November 2008
"In the 1960s the business of banking, broking and insuring accounted for just 10% of total corporate profits in most developed economies. By 2005, ...nearly 35% in US and roughly the same in Britain—the two countries that host the world's largest financial centres. Last year a staggering one in five Britons earned their living in finance ... embedded in this growth is a mystery. Whereas companies such as Microsoft and Google have risen by devising products that have added to the productive capacity of the economy, finance provides no such final good or product. It is a utilitarian mechanism for bringing together savers and borrowers, and this has not changed markedly since the 1960s. So what explains its relentless expansion?"
economics  finance  crisis  2008  capital 
november 2008 by robertogreco
Mute magazine - Pedagogy of Human Capital
"Post-Fordism’s appetite for self-directed activity is bringing about crisis in progressive education. No longer perceived as threatening, a work force trained to think for itself has become highly desirable. So what should an emancipatory education ent
anarchism  capitalism  education  pedagogy  progressive  learning  autodidacts  self-directed  theory  socialsoftware  socialnetworks  politics  neoliberalism  freedom  lcproject  capital  autonomy  art  communism  marxism  gamechanging 
march 2008 by robertogreco
A VC: The Story of 2007
The economic story of 2007 isn't Facebook being worth $15bn, its not the subprime mess and the resulting credit crunch, its not the fact that the US economy seems eerily similar to where we were in 1975.
economics  finance  us  history  1975  2007  capital  energy 
january 2008 by robertogreco

Copy this bookmark:

to read