Capitalism’s brain is the theory you will find in any standard economics textbook. Like any theory, it tells the body what to do. That theory says, “There is never enough. Let every person compete for what there is. Supply and demand will set prices and everything will work out for the best for everyone (at least for everyone who deserves it).”
Resuscitations are interventions from the outside when the system breaks down. For Capitalism, there have been many. To mention a few: anti-trust laws to break up corporations whose large size is reducing competition; progressive income taxes to restore money circulation to parts where it has been drained away; deficit government spending to restart a stalled economy; massive new spending for war; tax cuts for the wealthy as incentives to invest in new products; free trade agreements to remove tariffs and any other obstacles to the freely competitive international flows of money, material, labor, and finished products; neoliberal austerity programs including cuts in education, health care, and public services generally to reduce government interference with the free market; the sale of government owned land, water, forests, and airways to pay interest on debts; bank and corporate bail outs; bankruptcies and lower interest rates; and more and faster growth.
We know that Capitalism’s brain is dead because these resuscitations have helped only temporarily if at all and the theory is silent, no more brain activity, on what to try next.
Bob Blain: on what to try next.
ReplyDeleteJct: Dennis Kucinich's bill HR2990 to End the FED by using US Treasury Dollars for paychecks to create jobs rather than FED bank dollars is a workable alternative used by Lincoln. When you End, what alternative is there to provide paychecks for jobs? It's amazing that Dennis "T-notes for Paychecks" Kucinich touts Lincoln's Greenbacks and no one is helping him! It's exactly the same principle as used by Argentine to go from being broke in 2001 to all foreign debts paid off in 2006 using small-denomination provincial bonds which could be used for Hydro, Taxes, Medical, Licenses, just like Treasury Greenbacks would. Both are government chips paid out in exchange for labor! Both back by labor. Youtube Argentine Solution for the feel of how having jobs with Treasury Greenbacks could help pay off your national and foreign debts too End the FED with no alternative is stupid. Kucinich is one smart yankee.