We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore LappĂ©, excerpt from Time for Progressives to Grow Up

Saturday, July 2, 2016

Mainstream economics and the public

Click here to access article by David Ruccio from Real-World Economics Review Blog.

The economics profession under capitalist rule has suffered and American economist Ruccio lists many of there failures. The problem, of course, which Ruccio only alludes to, is one that Humpty Dumpty recognized long ago through the words of Lewis Carroll in Through the Looking Glass
“The question is,” said Humpty Dumpty, “which is to be master—that’s all.”
Because capitalists eventually took control of most advanced countries, they refused to adopt Marxist oriented economics because it undermined all capitalist class propaganda. As Ismael Hossein-Zadeh argues in an essay entitled "Marx on Financial Bubbles: Much Keener Insights Than Contemporary Economists", Marx could explain current economic events much better than most contemporary economists.

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