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James K. Galbraith – From the destruction of Greece to democracy in Europe

IN PROTESTING the Treaty of Versailles ending World War I, John Maynard Keynes wrote: “The policy . . . of depriving the lives of millions of human beings, of depriving a whole nation of happiness should be abhorrent and detestable — abhorrent and detestable, even if it were possible, even if it enriched ourselves, even if it did not sow the …

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Bernanke’s Former Advisor: “People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned”

With every passing day, the Fed is slowly but surely losing the game. Only it is not just former (and in some cases current) Fed presidents admitting central banks are increasingly powerless to boost the global economy, even if they still have sway over capital markets. What is far more insidious to the Fed’s waning credibility is when former economists affiliated …

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Jomo Kwame Sundaram – Some Real Costs of the Trans-Pacific Partnership: Nearly Half a Million Jobs Lost in the US Alone

The Trans-Pacifc Partnership (TPP) Agreement, recently agreed to by twelve Pacifc Rim countries led by the United States,1 promises to ease many restrictions on cross-border transactions and harmonize regulations. Proponents of the agreement have claimed significant economic benefits, citing modest overall net GDP gains, ranging from half of one percent in the United States to 13 percent in Vietnam after fifteen …

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MICHAEL HUDSON -Parasites in the Body Economic: the Disasters of Neoliberalism

Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new bookKilling the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy, available in print on Amazon and an e-version on CounterPunch. Michael Hudson, welcome to CounterPunch Radio. Michael Hudson: It’s good to be here. ED: Thanks so much …

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ROBERT REICH – Labor Day 2028

In 1928, famed British economist John Maynard Keynespredicted that technology would advance so far in a hundred years – by 2028 – that it will replace all work, and no one will need to worry about making money. “For the first time since his creation man will be faced with his real, his permanent problem – how to use his freedom …

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Bernie and the Plutocrats by ROBERT HUNZIKER

Senator Bernie Sanders’ candidacy for the presidency of the United States is in full blossom, on tour with rousing speeches to standing room only extraordinarily motivated crowds. Senator Sanders, the tough-minded Independent with socialists’ tendencies, is labeled a long shot to win the Democratic nomination, especially in the face of the odds-on-favorite Hillary Clinton, whose political machinery is so well …

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Eco Economics Takes on Neoliberalism – ROBERT HUNZIKER

Ever since Milton Friedman, American economist (1912-2006), who considered himself the heir to Adam Smith, used the term neoliberalism in an essay “Neoliberalism and its Prospects” in 1951, the world has tilted in that direction, starting with Chile as the “Chicago Boys” lab experiment under the watchful eye of the infamous dictator General Augusto José Ramón Pinochet Ugarte, president from …

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Capitalism in America: Giving Crazy a Bad Name While Subverting Democracy

Ever since Milton Friedman’s series of essays on Capitalism and Freedom, conservatives have tried to link democracy and capitalism into essential handmaidens.  But as the evidence shows, it’s a reality-busting bundle that only a psychotic could love.  Or believe.The fact is, capitalism as practiced in America – far from being democracy’s handmaiden — is anathema to freedom, and ultimately, impoverishing to …