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funny-capitalism-cartoon-rich-poor♦ Using the unnerving 2008 financial crash and the ensuing Long Recession, the financial oligarchy and their proxies in the governments of core capitalist countries have embarked on an unprecedented economic coup d’état against the people, the ravages of which include extensive privatization of the public sector, systematic application of neoliberal austerity economics and radical redistribution of resources from the bottom to the top.  Continue Reading 

♦ The Keynesian view that the government can fine tune the economy through “appropriate” fiscal and monetary policies to maintain continuous growth at or near full employment is based on the idea that capitalism can be controlled by the state. The effectiveness of the Keynesian model is, therefore, based largely on a hope, or illusion; since in reality the power or control relation between the state and the market/capitalism is usually the other way around. Continue Reading 

♦ There is now a widespread consensus that mainstream neoclassical economists failed miserably to either predict the coming of the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Not surprisingly, many critics have argued that neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Continue Reading