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

Sunday, May 29, 2011

Capital Kills Its Own Market - Hilaire Belloc

Hilaire BellocImage via Wikipedia




Some quotes from Hilaire Belloc, in an essay re-published recently in The Distributist Review:


Those are the two principal material disadvantages of capitalism as we now have it. They are translated, in the actual world, into the terms “Unemployment” and “Insufficient purchasing power.” So long as control is in few hands and gets into fewer and fewer hands-these evils must grow larger and larger.

But the spiritual disadvantages of control by few and yet fewer men, over the process of production, transport and the rest, are  even worse than the material disadvantages.

These spiritual disadvantages take three main forms. First there is loss of choice.....

Second ... is the counterpart of this: an increasing uniformity in the pattern of existence.....

The third ... is that the mass of men fall under the will of a few.....


On the loss of the habit of economic freedom:

When any bad process begins there is, in its first stages, a memory, a tradition, of better things. The old and better state of affairs still possesses what physical science calls “acquired momentum.” So it is with freedom when monopoly of control is growing up. All the older people can remember real competition and a fairly good division of property.

A human generation is short. When it has lost what it once knew, habit turns the new conditions into matters of course till the new conditions come to seem almost part of the universe. At least it becomes impossible for men to imagine what the older and better state of affairs was like.

Now this habit in any evil, but especially the habit of dependence, is what makes evil permanent; and as things are now going there is a rapidly increasing dangers that his condition of dependence upon a few, and of accepting monopoly of control over our lives, will become second nature. If we allow that to happen by allowing the gradual decay of individual property and freedom to continue unchecked, it will be impossible to return. That is the real danger when we pass the point after which reform becomes practically impossible because the mind cannot conceive it.















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Tuesday, October 26, 2010

Unmasking the Tea Party

Protestors at the Philadelphia Tea Party on Ap...Image via Wikipedia
Following an in depth expose in the New Yorker magazine of the funding behind America's Tea Party movement - a supposedly grass roots political movement which receives vast amounts of financial support from organisations controlled and funded by billionaires David and Charles H. Koch - a new film has been released that further reveals that the Party is not "grass roots" but "astro turf". That is to say, it is an artificial grass roots movement.

The film can be viewed here and is previewed below.

Interested to note that the story of the Koch brother's backing to the Tea Party, which is committed to wrecking Obama's domestic agenda, is also now receiving coverage in the British press - as evidenced by this article by George Monbiot in today's Guardian.








(Astro) Turf Wars trailer from (astro)turf wars on Vimeo.











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Monday, May 31, 2010

Corporations Profit From Permanent War: Memorial Day 2010

The following article by Bill Quigley is reproduced from today's Truthout under an Attribution-Noncommercial 3.0 Creative Commons Licence.



US law officially proclaims Memorial Day "as a day of prayer for permanent peace."

However, the US is much closer to permanent war than permanent peace. Corporations are profiting from wars and lobbying politicians for more. The US and the rest of the world cannot afford the rising personal and financial costs of permanent war.

Number One in War

No doubt, the USA is number one in war. This coming year, the US will spend 708 billion dollars on war, and another $125 billion for Veterans Affairs - over $830 billion. In a distant second place is China, which spent about $84 billion on its military in 2008.

The US also leads the world in the sale of lethal weapons to others, selling about one of every three weapons worldwide. The USA's major clients? South Korea, Israel and United Arab Emirates.

Our country has 5 percent of the world's population, but accounts for more than 40 percent of the military spending for the whole world.

Harm

Our nation does not respect our soldiers by engaging in permanent war. War is grinding up our children. The wars in Afghanistan and Iraq have cost over 5,000 US lives and tens of thousands more lives of people in those countries. Over 20 percent of those in our military who served in these two wars, 320,000 people, have war-related traumatic brain injuries. Suicide rates are up by 26 percent among 18- to 29-year-old male veterans in the latest Veterans Administration study. Mental health hospitalizations are now the leading cause of hospital admissions for the military, higher than injuries. On any given night, over 100,000 veterans are homeless and living on our nation's streets.

Rising Costs of War

Since 2001, the US has spent over $6 trillion (a trillion is a million millions) on war and preparations for war. That is about $20,000 for every woman, man and child in the US. Iraq and Afghanistan alone have cost the US taxpayer over a trillion dollars since 2001.

No End in Sight

Earlier this month, Marine Gen. James Cartwright, the vice chair of the military Joint Chiefs of Staff, told the Army Times that the US can expect continuing war "for as far as the eye can see."

In the name of this perpetual war against terrorism, the US still jails hundreds without trial in Guantanamo, holds hundreds more in prisons on bases and in secret detention worldwide, tries to avoid constitutional trials for anyone accused of terrorism, admits it is trying to assassinate an American citizen Muslim cleric in Yemen and launches deadly drone strikes in Iraq, Afghanistan, Pakistan and Yemen, killing civilians and suspects whenever they decide.

Who Benefits From Permanent War?

One support for permanent war is that there are corporations in the US which openly lobby for more and more money to be invested in war. Why? Because they profit enormously from government contracts.

President Dwight Eisenhower, who believed in a strong military, warned the US about just this in his farewell address to the nation in 1961. "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes."

War Is Big Business

War is very big business. People know that private companies are doing much more in war. In January 2010, the Congressional Research Service reported that there are at least 55,000 private armed security contractors in Iraq and Afghanistan and maybe many more - as many as 70,000 in Afghanistan alone.

But much bigger money is available to defense contractors. In 2008 alone, the top ten defense contractors received nearly $150 billion in federal contracts. These corporations spent millions to lobby for billions more in federal funds and hired ex-military leaders and ex-officials to help them profit off war.

For example, look at the top three defense contractors, Lockheed Martin, Boeing and Northrop Grumman. They demonstrate why perpetual war is profitable and part of the reason it continues.

Lockheed Martin

Lockheed Martin is the largest military contractor in the world with 140,000 employees, taking in over $40 billion annually, over $35 billion of which comes from the US government. Lockheed Martin boasts that they have increased their dividend payments by more than 10 percent for the seventh consecutive year - perfectly in line with the increase in war spending by the US. Its Chairman Robert Stevens received over $72 million in compensation over the past three years.

Lockheed's board of directors includes a former under secretary of defense, a former US Air Force commander of the US Strategic Command, a former deputy director of Homeland Security and a former supreme allied commander of Europe. These board members receive over $200,000 a year in compensation. Its political action committee gave over a million dollars a year to federal candidates in 2009, and is consistently one of the top spending PACs in the US. They appeal to all members of Congress because they strategically have operations in all 50 states. And since 1998, Lockheed has spent over $125 million to lobby Congress.

Northrop Grumman

Northrop Grumman is a $33 billion company with 120,000 employees. In 2008, it received nearly $25 billion in federal contracts. Its Chairman Ronald Sugar received over $54 million in compensation over the past three years.

Northrop's Board includes a former admiral of the Navy, a former 20-year member of Congress, a former chair of the Joint Chiefs of Staff, a former commissioner of the Security and Exchange Commission and a former US naval officer. The members of its board of directors received over $200,000 each in 2009. Its PAC is listed as making over $700,000 in federal campaign donations in 2009. Since 1998, it has spent over $147 million lobbying Congress.

Boeing

Boeing has 150,000 employees and took in over $23 billion in federal contracts in 2008. With revenues of $68 billion in 2009, its Chair James McNerney was paid over $51 million over the past three years. Its board members are paid well over $200,000 a year. Boeing's directors include a former US secretary of Commerce, a former White House chief of staff, a former vice chair of the US Joint Chiefs of Staff and a former US ambassador and US trade representative. It hosts the tenth largest political action committee, giving away more than one million dollars to federal candidates in 2009. Since 1998, it has spent $125 million lobbying Congress.

Time to Terminate the Permanent War

These corporations take billions from the government and profit from our perpetual state of war. They recycle some of that money back into lobbying the same people who gave it to them, and hire ex-military and government officials to help smooth the process. Their leaders make tens of millions off this work.

The trillions of dollars that it costs to wage permanent war are taxing the US economy. Yet, where are the voices in Congress, Democrat or Republican, that talk seriously of dramatically reducing our military spending? President Obama and the Democrats are effectively continuing the permanent war policies of the Bush years. It is past time for change.

Remember this Memorial Day that, while thousands have been laid in their graves and hundreds of thousands wounded, private military contractors are prospering and profiting as the business of war booms.

The US should not only remember its dead, but work to reverse the profitable permanent war that promises to add more names to the dead and disabled in this country and around the world.










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Saturday, November 14, 2009

Defining Capitalism


"[T]he combination of a Fed that can print money, deposit insurance, and a Congress that can authorize bailouts provides an extensive safety net for big financial firms. In such an environment, pursuing a policy of easy money plus deregulation doesn't amount to free market economics: it's a form of crony capitalism."

John Cassidy


"Perhaps we should try and think of a name for the new economic system, which certainly isn’t capitalism: that, remember, is all about ‘creative destruction’, and the freedom to fail. That’s exactly what we don’t have. The most accurate term would probably be ‘bankocracy’."

John Lanchester








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