How is finance killing the economy? Credit is a powerful tool of capitalism. It can be used to stimulate economic growth, or it can be used to deter capital investment by shifting money creation into the Finance, Insurance, Real Estate (FIRE) sector. The latter will inevitably cause the economic system to go into crisis.
Kevin Rashid of the blog Democracy and Class Struggle attempts to take on the Maoist International Movement (MIM) by claiming he can debunk the idea of a global labour aristocracy.[1] His answer contains no tangible refutation whatsoever. He mere dogmatically reasserts what has been stated in the past about the labour aristocracy without actually confronting…
Ed: A wonderful piece regarding a Marxist view of gold as currency in relation to a parable by Paul Krugman. This is part of a larger post that must be read. I highly recommend subscribing to this blog Critique of Crisis Theory. Paul Krugman writes: “The legend of King Midas has been generally misunderstood…. What…
A response to a reactionary video by anarcho-capitalist Jacob Spinney, by Klaas Velija (a good friend and a great teacher of Marxism) http://crushcapital.wordpress.com/2012/10/28/critique-of-jacob-spinneys-video-on-exploitation/ “So what exactly do people mean when they say that workers are being exploited?” Exploitation is defined as “making use of some vulnerability in another person in order to use them to…
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