What is paradoxical is that U.S. imperial ideology happens to be not fascism but an all-encompassing and intolerant liberalism refitted for rationalizing military and political expansion.
Economic models do not, and never can, fully reflect the extraordinary complexity of human markets. The point is to create useful abstractions to provide decision-makers with a sense of the budgetary and economic impacts of a given policy proposal.
Workers vs neoliberalism — it's happening everywhere
News and analysis from and about left parties, movements and upsurges around the world
The real culprit here is the diminution of US productive capacity and supply chain disruption caused by four decades of neoliberal policies – disinvestment, deregulation, outsourcing - which have prevented supply-side measures to bring prices down.
While industrial capitalism got rid of the landlord class, capitalism still had economic rent, but instead of being paid to the landlord class, it is now paid to the banks in the form of interest.
It would be tragic if Ukraine defeated Russian neo-imperialism only to yoke itself to Western neoliberalism. While being a Western economic colony is certainly better than being absorbed into a new Russian empire, neither outcome is worthy of the suffering Ukrainians are now enduring.
This week: left economists cut through the baloney, rumblings of general strike, and a guide to wrecking your party
Mass media as stepping stone—three talking heads who lie their way to political dominance
Human capital theory cannot solve our economic woes. It’s time to tell the truth of how we got here and how we can move forward. Replacing human capital theory with a socialist theory of education and collective intelligence would be a good start.
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