If someone were to make a movie about neoliberalism, there would need to be a starring role for the character of Paul Volcker. As chair of the Federal Reserve from 1979 to 1987, Volcker was the most powerful central banker in the world. These were the years when the industrial workers’ movement was defeated in the United States and the United Kingdom, and third-world debt crises exploded. Both of these owe something to Volcker
"Basic income is a real shot at utopia. Basic jobs takes that energy and idealism, and redirects it to perpetuate some of the worst parts of the current system. It’s better than nothing. But not by much."
"Mutualism is an economic theory and anarchist school of thought that advocates a society with free markets and occupation and use property norms. One implementation of this scheme involves the establishment of a mutual-credit bank that would lend to producers at a minimal interest rate, just high enough to cover administration. Mutualism is based on a version of the labor theory of value holding that when labor or its product is sold, in exchange it ought to receive goods or services embodying "the amount of labor necessary to produce an article of exactly similar and equal utility". Mutualism originated from the writings of philosopher Pierre-Joseph Proudhon."
"It is obviously true that one cannot understand the complexities of contemporary geopolitics and imperialism simply by reading Lenin and Bukharin. But it is equally true that if one ignores their key insights, it is not possible to make much sense of the otherwise bewildering set of events that is currently being played out on the international chessboard and, just as importantly, to come up with a coherent political strategy to oppose militarism, war, environmental destruction, and all the other horrors that capitalism creates. The framework Lenin and Bukharin developed a hundred years ago, taken as a methodology and not as a set of dogmas, retains its relevance for activists today."
"Ricardo was followed by two able and well-trained pupils — Marx and Marshall. Meanwhile English history had gone right round the corner, and landlords were not any longer the question. Now it was capitalists. Marx turned Ricardo’s argument round this way: Capitalists are very much like landlords. And Marshall turned it round the other way: Landlords are very much like capitalists. Just round the corner in English history you see two bicycles of the very same make — one being ridden off to the left and the other to the right."
"Keynes says the crisis comes about through a lack of ‘effective demand’, namely an unaccountable fall in investment and consumption and this causes profits and wages to fall. Marx says: let’s start with profits. If profits fall, then capitalists would stop investing, lay off workers and wages would drop and consumption would fall. Then there would be a lack of effective demand, as Keynesians like to put it, but this would not be due to a drop in ‘animal spirits’, or ‘confidence’ (we often hear that phrase from economists: ‘a lack of confidence’), or even due to ‘too high’ interest rates, but because profits are down. The problem lies in the nature of capitalist production, not in the finance sector."
Dyer Lum argues that the motivational force behind the Edmunds Anti-Polygamy Act is to crush the cooperative economy set up by Mormons in Utah.
"The spirit of Caesar, rendered powerless in religious systems, castrated of divine right in forms of political government, is entrenching itself in the economic system of the age. British and German empires, Spanish and Italian kingdoms, French and American republics, are but dead forms; the animating soul in each is the same. A common (economic) feeling has made them all akin. Statecraft exists for the furtherance of economic interests; forms of government are recognized as of secondary importance to "vested interests." Harrington's apothegm: 'Empire follows the balance of property,' is no longer disputable."