Posts tagged ‘economics’

Food for Thought: Larry Grossberg on Cultural Studies

by , posted on Thursday, November 15th, 2012 at 9:00 am

“For me, cultural studies was always partly a response to the dominant practices of the academy, and the dominant practices of knowledge production. … It seemed to me that cultural studies was an attempt to find a different way to be an intellectual, a different way of bringing politics into the academy, and a different way of producing knowledge.” — Larry Grossberg

This video is a preview of a full length conversation with Larry Grossberg, an internationally renowned scholar of cultural studies as well as popular culture, conducted by University of Ottawa professor Boulou Ebanda de B’béri and his research assistant Michael Audette-Longo.

Part 1: Cultural studies as a specific project
Part 2: Discussion on articulation
Part 3: Discussion on past and present projects
Part 4: Discussion on modernity

The full-length conversation can be found after the jump.

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Financialization and the World Economy

by , posted on Sunday, September 30th, 2012 at 7:36 pm

from The Real News Network

Gerald Epstein, Political Economy Research Institute, and Department of Economics, University of Massachusetts, Amherst): Financialization of the economy has been developing since the late 19th century and is now at historic Levels

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Does Obama Economic Policy “Just Need More Time”?

by , posted on Sunday, September 16th, 2012 at 2:08 pm

from The Real News Network

Gerald Epstein (Political Economy Research Institute, and Department of Economics, University of Massachusetts, Amherst): The basic policies must change or recession and high unemployment will continue

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Robert Pollin: Full Employment Is Possible

by , posted on Sunday, July 29th, 2012 at 1:31 pm

from GRITtv with Laura Flanders

The latest book from Robert Pollin, economics professor at University of Massachusetts Amherst and director of the Political Economy Research Institute, is “Back to Full Employment.” If the title seems bold, the road map Pollin lays out behind it is hardly outlandish. In this conversation with Laura Flanders, Pollin explains how the Federal Reserve can grow employment tremendously, without the need for any legislation.

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John Fullerton: Can Financial Reform Fight Climate Change?

by , posted on Monday, July 9th, 2012 at 10:23 pm

from GRITtv with Laura Flanders

Former managing director at JP Morgan John Fullerton wants to see a complete re-imagining of the world of investments. If we don’t, Fullerton argues in this conversation with Laura Flanders, our grandchildren will ask us, “What were you thinking?”

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The Death of the Family Farm and the Death of Real Capitalism

by , posted on Monday, June 25th, 2012 at 7:00 am

It was 1921. He was a young man with a bunch of hopes and dreams, just barely twenty, and entering this country from Sweden with a trunk as his only possession. He came from the farms of Sweden hoping to some day buy a farm in America. Someone there had told him it might be possible to own a farm here. It was a wild dream really, but one in which he believed.

In Sweden he knew it was an impossible dream. All the farms and all the land was owned by a small group of large moneyed families and rented out in parcels to tenants. Reuben’s family had been tenant farmers for generations and generations, able to eke out a living but never able to build a secure foundation from which a family can grow. As far back as records can document, no one in his family had ever owned any of the land they farmed.

And so for over two decades in America, Reuben toiled the land. Milked the cows. Learned to read and write English. Fell in love. Married a farmer’s daughter named Rose. Had three boys. And did buy that farm.

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Memo to the #Occupied Movement (A Post Growth Economy)

by , posted on Wednesday, October 5th, 2011 at 8:46 pm

Cross-posted from the website of the Post-Carbon Institute.

Here’s a fact that’s hard for most Americans to swallow: economic growth is over. Given the finite nature of our planet and its resources, the recent trend of global economic expansion was destined to end. No stimulus package or slashing of social programs is going to flip the economy back to an expansionary trajectory. We’ve hit the proverbial wall, and this will be the defining reality of our lives from now on.

The growth-seeking political-economic system has failed us. Today that system is dominated by Wall Street. “Goldman Sachs rules the world,” trader Alessio Rastani told us in a now-viral BBC interview. I met people like Rastani in researching my book, The End of Growth. At one lavish conference, 800 global investors packed a hotel ballroom to consider climate change. There was no talk of how to avert or mitigate floods and droughts. Instead, the discussion focused on profiting from warming with — no joke — weather derivatives. These folks were just doing their job, despite any private feelings of concern, remorse, or dread. And each was getting paid enough to single-handedly fund a midsize school district.

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Food for Thought: Downsides of Growth

by , posted on Monday, August 15th, 2011 at 3:00 pm

Cross-posted from the website of the Center for the Advancement of the Steady-State Economy (CASSE).

There is a Conflict between Economic Growth and:

(1) Environmental Protection

A growing economy consumes natural resources and produces wastes. It results in biodiversity loss, air and water pollution, climate destabilization, and other major environmental threats.

(2) Economic Sustainability

A healthy environment is the foundation of a healthy economy. We need healthy soils for agriculture, healthy forests for timber, and healthy oceans for fisheries. Along with clean air for breathing and clean water for drinking, these are the building blocks of a prosperous economy and a good life.

(3) National Security and International Stability

When economic growth threatens the environment and economic sustainability, social unrest is the result, and national security is compromised. Economic growth was once used for building military power, but in an overgrown global economy, economic sustainability is more conducive to diplomacy and stability among nations.
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President Obama’s Big Deal: Cuts for Social Security, but No Taxes for Wall Street

by , posted on Wednesday, July 20th, 2011 at 2:45 pm

Cross-posted from Truthout, where it was originally published on July 18, 2011.

The ability of Washington to turn everything on its head has no limits. We are in the midst of the worst economic downturn since the Great Depression. Even though the recession officially ended two years ago, there are still more than 25 million people who are unemployed, can only find part-time work or who have given up looking for work altogether. This is an outrage and a tragedy. These people’s lives are being ruined due to the mismanagement of the economy.

And we know the cause of this mismanagement. The folks who get paid to manage and regulate the economy were unable to see an $8 trillion housing bubble. They weren’t bothered by the doubling of house prices in many areas, nor the dodgy mortgages that were sold to finance these purchases. Somehow, people like former Federal Reserve Board Chairman Alan Greenspan and his sidekick and successor Ben Bernanke thought everything was fine as the Wall Street financers made billions selling junk mortgage and derivative instruments around the world.

When the bubble burst, one of the consequences was an increased budget deficit. This is kind of like two plus two equals four. The collapsing bubble tanked the economy. Tax revenue plummets and we spend more on programs like unemployment insurance and foods stamps. We did also have some tax cuts and stimulus spending to boost the economy. The result is a larger budget deficit.

All of this is about as clear as it can possibly be. The large deficit came about because the housing bubble, which was fueled by Wall Street excesses, crashed the economy. Yet, we are constantly being told by politicians from President Obama to Tea Party Republicans that we have a problem of out-of-control spending.

The claim of out-of-control spending is simply not true. It is an invention, a fabrication, a falsehood with no basis in reality that politicians are pushing to advance their agenda. And that agenda is not pretty.
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Toward a Post-Growth Society

by , posted on Wednesday, July 13th, 2011 at 1:45 pm

It’s business as usual that’s the utopian fantasy, while creating something very new and different is the pragmatic way forward.

Cross-posted from YES! Magazine, where it was originally posted on July 6, 2011.

Today, the reigning policy orientation holds that the path to greater well-being is to grow and expand the economy. Productivity, profits, the stock market, and consumption: all must go continually up. This growth imperative trumps all else. It is widely believed that growth is always worth the price that must be paid for it—even when it undermines families, jobs, communities, the environment, and our sense of place and continuity.

The Limits of Growth

But an expanding body of evidence is now telling us to think again. Economic growth may be the world’s secular religion, but for much of the world it is a god that is failing—underperforming for billions of the world’s people and, for those in affluent societies, now creating more problems than it is solving. The never-ending drive to grow the overall U.S. economy hollows out communities and the environment; it fuels a ruthless international search for energy and other resources; it fails at generating jobs; and it rests on a manufactured consumerism that is not meeting the deepest human needs. Americans are substituting growth and consumption for dealing with the real issues—for doing things that would truly make us and the country better off. Psychologists have pointed out, for example, that while economic output per person in the United States has risen sharply in recent decades, there has been no increase in life satisfaction and levels of distrust and depression have increased substantially.

We need to reinvent the economy, not merely restore it. The roots of our environmental and social problems are systemic and thus require transformational change. Sustaining people, communities, and nature must henceforth be seen as the core goals of economic activity, not hoped for byproducts of an economy based on market success, growth for its own sake, and modest regulation. That is the paradigm shift we seek.

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