Showing posts with label capitalism. Show all posts
Showing posts with label capitalism. Show all posts

Monday, September 5, 2011

Happy Capital Day

Washington Post reporter E. J. Dionne, writing for The Moderate Voice, argues that we should just go ahead and change the name of Labor Day to Capital Day.

Imagine a Republican saying this: “Labor is prior to and independent of capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.”

These heretical thoughts would inspire horror among our friends at Fox News or in the tea party. They’d likely label them as Marxist, socialist or Big Labor propaganda. Too bad for Abraham Lincoln, our first Republican president, who offered those words in his annual message to Congress in 1861.

...In scores of different ways, we paint investors as the heroes and workers as the sideshow. We tax the fruits of labor more vigorously than we tax the gains from capital — resistance to continuing the payroll tax cut is a case in point — and we hide workers away while lavishing attention on those who make their livings by moving money around.

Consider that what the media call economics reporting is largely finance reporting... Workers are regarded as factors of production. At best, they’re consumers; at worst, they’re “labor costs” cutting into profits and the sacred stock price...

With the worker disappearing from our media and our consciousness, isn’t it only a matter of time before Labor Day falls off the calendar? As long as it’s there, it should shame us about our cool indifference to the heroism of those who go to work every day.

Read the full article via the link above.

Tuesday, September 21, 2010

Thursday, March 18, 2010

Some of Today's Blog and Twitter Discoveries


Thanks to The Official Ramen Homepage (which you can find in the blog roll) for a couple of interesting posts. The first reports on an article from MIT about how the 3d representation of the human genome ends up looking like uncooked ramen.

“It turns out actually that the fractal globule pretty deeply resembles the model of uncooked ramen noodles,” he said. “You can contrast this with the classic polymer structure, which is the arrangement that the noodles take once you’ve cooked them.”


It also shared a great broke folk recipe that was featured on the Food Network's "Dinner Impossible" program. It's called Pork Ramen Alfredo College Dorm Special.

So ramen fans, I urge you to add the Offical Ramen Homepage to your favorite rss feed reader. (I like a free open source one called Feedreader.)

Although I was initially skeptical, I've come to enjoy Twitter as a personalized newswire that leads me to a host of interesting stories I would not otherwise have seen. I learned today, for example (thanks to my hyper-posting twitter buddy @IanAspin) about the New Economics Foundation, and have added them to the blog roll.

Here's how they describe themselves: "nef is an independent think-and-do tank that inspires and demonstrates real economic well-being. We aim to improve quality of life by promoting innovative solutions that challenge mainstream thinking on economic, environment and social issues. We work in partnership and put people and the planet first."

Today in the blog Andy Wimbush wrote about a lecture by the iconoclastic Lord Turner at the Cass business school:

Lord Turner also reflected on an interview last year in which he branded much of the activity in the financial sector as “socially useless”. “People have asked me whether I regret those comments,” he said, “The answer is no, except in one very small respect, which is that I think it would have been better to use the phrase ‘economically useless’ or ‘of no economic value added’.” This echoes nef’s recent report A Bit Rich which found that Elite City bankers (earning £1 million-plus bonuses) destroy £7 of value for every £1 they create....

Lord Turner’s comments show that, contrary to what been said by some defeatists in the movement for a just and sustainable economy, there is still plenty of opportunity to introduce new ideas and challenging, radical policy proposals. The door that was flung open by the financial crisis hasn’t closed yet. So let’s delve deep into that index of forbidden thoughts and see what works.

Discussion Question: Market Speak in Everyday Life

I have posted my first discussion question over at the Facebook group "The Broke is Beautiful Movement." I hope you will go over there to join in the discussion, or if you do not have Facebook, feel free to post to the comments here.

So I was watching the news yesterday at there was a feature on Robert Bobb, Detroit's emergency financial manager, and his plan to completely revamp the city's school system. What struck me (besides the fact that someone named their kid Bob Bobb) was that he said the schools needed to be re-invented from the ground up to "stay competitive."

Competitive? Businesses have to "be competitive" so they can win out and make bigger profits. But why are we applying this business terminology to something outside the market like educating our kids? Is it helpful to see our school systems as "competing" with one another to be the best?

By "competitive" I believe Mr. Bobb really meant "at level" or "successful" or "giving our kids the same quality education you'd expect from the best school systems." But to express that, the first thing that came to mind was market jargon.

So here are my discussion questions: Do you have an example of market-speak being applied to something that is not really part of "the market"? I hope you'll share it.

And second, when we use market place metaphors for other areas of life, how do you think it affects our thinking about the issue?

Tuesday, October 6, 2009

Word of the Day: Plutolatry- The Worship of Wealth

Did you know that there is a movement among some right-wing conservative Christians to re-translate the Bible to make its language more in line with their ideology? I learned this today via the blog Below the Beltway.

Some of the suggestions seem like fairly reasonable updates to make the text more easily understood by a modern reader such as using "register" rather than "enroll" in the census or "gamble" instead of "cast lots."

(I, personally prefer the poetry and the cultural tradition of the King James version, even if scholars are in agreement that it is probably one of the worst translations out there.)

Other changes are more contentious such as eliminating gender neutral language, getting rid of "liberal" words like "comrade" and replacing them with words like "volunteer" and pumping up references to the devil and Hell.

For our
Broke is Beautiful purposes, the most interesting suggestion is number 7: "Express Free Market Parables; explaining the numerous economic parables with their full free-market meaning."

The political right has for some time mixed conservative Christian faith with an almost equal religious faith in free markets. The concept of Free Market Fundamentalism as a religion has been recognized by economists and theologians alike.

Economics professor Richard Wolf put it this way: "an unregulated economy, with free markets and private enterprise is a magic road to prosperity and growth. Particularly in the last 30 years, that has become a mantra. It’s the Morning Prayer with which every economics department begins."

Harvey Cox, professor of divinity at Harvard University penned an article for the Atlantic Monthly in 1999 titled The Market as God. Cox argued that “there lies embedded in the business pages and entire theology, which is comparable in scope if not in profundity to that of Thomas Aquinas or Karl Barth.”

He came to this belief after observing the reverence that The Market inspired in business people. “Such is the grip of the current orthodoxy that to question the omniscience of The Market is to question the inscrutable wisdom of Providence,” he wrote. “I am beginning to think that for all the religions of the world, however they may differ from one another, the religion of The Market has become the most formidable rival, the more so because it is rarely recognized as a religion.”

Faith in Free Markets as a God is one thing, but using Christianity to support it always seemed contradictory given what I read in The Bible. Now I see my confusion may just have been the result of a faulty translation.

For example 2 Corinthians 8:9:
"For you know the grace of our Lord Jesus Christ, that though He was rich, yet for your sakes He became poor" is really just a celebration of Free Markets when you read it right.

(For more see the Top Verses That Televangelists Won't Preach on the blog Tithe Stewardship and Church Tithing and my own entry on the irony of the prosperity gospel church selling its private jet.)


*Please excuse my font issues. I can't figure out how to make the text consistent.