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.Wolfgang Streeck: the German economist calling time on capitalism - The Gardian

The political economist on Trump’s election, why we should be happy about Brexit and the crises facing western democracy.

“Before capitalism will go to hell, it will for the foreseeable future hang in limbo, dead or about to die from an overdose of itself but still very much around, as nobody will have the power to move its decaying body out of the way.” (...)

Why should the new oligarchs be interested in their countries’ future productive capacities and present democratic stability if, apparently, they can be rich without it, processing back and forth the synthetic money produced for them at no cost by a central bank for which the sky is the limit, at each stage diverting from it hefty fees and unprecedented salaries, bonuses, and profits as long as it is forthcoming – and then leave their country to its remaining devices and withdraw to some privately owned island? (...)

Eight years after Lehman Brothers keeled over and nearly took the entire banking system down with it, capitalism remains broken. British workers are suffering their most severe pay squeeze in at least seven decades. And even though politicians and the policymakers have pulled on every lever – cuts, investment, housing boom, hundreds of billions pumped into the markets – still the engine refuses to purr. The failure is international: the Bank of International Settlements, the central banks’ central bank, warned a few months ago that “the global economy seems unable to return to sustainable and balanced growth”. (...)

He sees the support for Brexit and Trump as stemming from the same source. “You have a growing group of all people, who, under the impact of neoliberal internationalisation, have become increasingly excluded from the mainstream of their society. (...)

But doesn’t he want something better than a new dark ages for his grandchildren? “If I am honest, now I am thankful for every passing year that is good and peaceful. And I hope for another one. Very short-term, I know, but those are my horizons.”

Full article

Obrázek/fotografieBefore capitalism will go to hell, it will hang in limbo from an overdose of itself’ … Wolfgang Streeck.

Tags: #neoliberalism #capitalism #1% #inequality #unemplyment #jobless #brexit #greece #trump #democracy #eu #european union #the left #social democracy

Wolfgang Streeck: ‘Look at London – it’s a second Rome. This is what an empire looks like’

The political economist on Trump’s election, why we should be happy about Brexit and the crises facing western democracy
Link to source
skanda42 3 years ago
.Wolfgang Streeck: the German economist calling time on capitalism - The Gardian

The political economist on Trump’s election, why we should be happy about Brexit and the crises facing western democracy.

“Before capitalism will go to hell, it will for the foreseeable future hang in limbo, dead or about to die from an overdose of itself but still very much around, as nobody will have the power to move its decaying body out of the way.” (...)

Why should the new oligarchs be interested in their countries’ future productive capacities and present democratic stability if, apparently, they can be rich without it, processing back and forth the synthetic money produced for them at no cost by a central bank for which the sky is the limit, at each stage diverting from it hefty fees and unprecedented salaries, bonuses, and profits as long as it is forthcoming – and then leave their country to its remaining devices and withdraw to some privately owned island? (...)

Eight years after Lehman Brothers keeled over and nearly took the entire banking system down with it, capitalism remains broken. British workers are suffering their most severe pay squeeze in at least seven decades. And even though politicians and the policymakers have pulled on every lever – cuts, investment, housing boom, hundreds of billions pumped into the markets – still the engine refuses to purr. The failure is international: the Bank of International Settlements, the central banks’ central bank, warned a few months ago that “the global economy seems unable to return to sustainable and balanced growth”. (...)

He sees the support for Brexit and Trump as stemming from the same source. “You have a growing group of all people, who, under the impact of neoliberal internationalisation, have become increasingly excluded from the mainstream of their society. (...)

But doesn’t he want something better than a new dark ages for his grandchildren? “If I am honest, now I am thankful for every passing year that is good and peaceful. And I hope for another one. Very short-term, I know, but those are my horizons.”

Full article

Obrázek/fotografieBefore capitalism will go to hell, it will hang in limbo from an overdose of itself’ … Wolfgang Streeck.

Tags: #neoliberalism #capitalism #1% #inequality #unemplyment #jobless #brexit #greece #trump #democracy #eu #european union #the left #social democracy

Wolfgang Streeck: ‘Look at London – it’s a second Rome. This is what an empire looks like’

The political economist on Trump’s election, why we should be happy about Brexit and the crises facing western democracy
Obrázek/fotografie

More Than 4,000 Died Within Six Weeks Of Being Deemed 'Fit For Work', Reveals Government



More than 4,000 people died within six weeks of being found “fit for work”, the Department for Work and Pensions (DWP) has revealed.

Figures released today show that between December 2011 to February 2014, 4,010 people died after being told they should find work following a “Work Capability Assessment”.

Of that figure, 1,360 died after losing an appeal against the decision.

http://www.huffingtonpost.co.uk/2015/08/27/benefits-death-claimants-welfare-ids_n_8047424.html

#uk #britain #austerity #neoliberalism #fascism #benefits #socialsecurity #welfare #murder #murder

More Than 4,000 Died Within Six Weeks Of Being Deemed 'Fit For Work', Reveal Government

More than 4,000 people died within six weeks of being found “fit for work”, the Department for Work and Pensions (DWP) has revealed.

Figures released today show that between December 20
Link to source
unity100 4 years ago from Diaspora
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