The Left confuses globalisation with neo-liberalism and gets lost

“But the problem is not the global trends in supply chains etc. Rather it is that their elected representatives have become co-opted by neo-liberal elites who fully understand that state power can be skewed to work in their favour and deprive a vast majority of citizens of the benefits of such global economic activity.” Bill Mitchell questions the sustainability of economic growth with labour productivity growth continuing to outstrip growth in real wages.

Nimm, was du kriegen kannst!

“Der Westen, der so stolz auf seine Werte ist, verschließt seine Grenzen für verängstige Menschen auf der Suche nach einem besseren Leben. Aber er öffnet sie für schmutziges Geld auf der Suche nach einer besseren Anlage.” Jakob Augstein identifiziert nicht die Flüchtlinge als unser Problem—sondern die Steuerflüchtlinge.

Forget Panama: it’s easier to hide your money in the US than almost anywhere.

The Piketty Panic

“But how do you make that defense if the rich derive much of their income not from the work they do but from the assets they own? And what if great wealth comes increasingly not from enterprise but from inheritance?” After reviewing Capital in the Twenty-First Century by french professor Thomas Piketty, Paul Krugman reflects on why this particular book is reshaping the debate on wealth and inequality.

What the fluck!

“I think there is an equally diffuse malaise today—waiting for a new kind of journalism to bring it into focus. Like with McClure’s it won’t be just a catalogue of shocking facts—it will be an imaginative leap that pulls all the scandals together and shows how they are part of some new system of power that we don’t fully comprehend.” Adam Curtis attempts to define the point at which journalism fails and modern power begins.