Category Archives: Global Economy

The Rise of the Kleptocracy: America’s Security Threat

Milton Friedman’s neoliberal triumvirate of privatization, deregulation – free trade, and drastic cuts to government spending laid the groundwork for Reagan economic policies of deregulation that began in the 1980s. This, in turn, launched globalization which was supposed to undermine … Continue reading

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Introducing Change While Respecting the Individual

Jeremy Bentham (1748-1832), an English philosopher, is principally known for his principle of utilitarianism, which evaluates actions based on their consequences. Bentham believed, motivated by pleasure and pain, people value self-interest above social interest. He maintained that putting his moral … Continue reading

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Darwin’s Invisible Hand Narrative: A New Paradigm

Economists try to model human motivation in an attempt to understand how markets work. Traditional economic models assume that the satisfaction people take from consumption depends only on the absolute amount of it. Yet compelling evidence suggests that relative consumption … Continue reading

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There Is No Alternative to Austerity: Propping Up the Neoliberal State

Neoliberalism requires a market society achieved through a transformation in social society. Initially this meant welfare states must be slammed down by austerity policies in order to turn over to the market potentially lucrative sectors of the social economy – … Continue reading

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Nightmare on Main Street: the Neocon and Neoliberal Failures

A nightmare, or bad dream, is an unpleasant experience that can cause a strong emotional response from the mind, typically fear but also despair, distress, even extreme anxiety. The dream may contain situations of discomfort, psychological or physical terror or … Continue reading

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Fragile States and Failed Policies: The Need For Inclusive Institutions

Today 50% of African countries are identified in studies as ‘fragile’ or ‘failed’ states. Since 9/11 concern has grown that not only were these failed states incapable of following the development path laid out by the neoliberal political agenda but … Continue reading

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The Political Effects of Economic Chaos

Class conflict and struggle occur, according to Karl Marx, because of the economic organization of most societies. Consequently, capitalism due to its internal contradictions, inevitably moves from crisis to crisis. Neoliberalism rose to prominence by representing the subsequent crisis of … Continue reading

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The Social Contract of the Neoliberals

We should not forget that the definition of poor people and the attitude towards them has always been one of the mechanisms of economic systems that create inequality. Once the status of the poor was part of a religious view … Continue reading

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The Rise of the Neoliberals

Isaac Newton (1642-1727) discovered the natural laws of motion, which provided the final piece to the puzzle, establishing the Copernican theory of the Earth revolving around the sun, introducing  the spirit of individualism and the idea the study of human … Continue reading

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Part 1 of 2. Creating Opportunities: A Comparison of Top-down and Bottom–up Systems

Jean-Jacques Rousseau (1712-1778), a political philosopher and essayist, described an endemic moral inequality that was related to power and wealth. As men come together, Rousseau claimed, there is a drive to compare themselves to others – driving men to seek … Continue reading

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