Tuesday, September 30, 2008
Banks failing... Wall St in crisis; Is it finally acceptable to criticize capitalism?
It wasn't acceptable 6 years ago, when writer James Rossi wote this about After Capitalism: From Managerialism to Workplace Democracy by Seymour Melman
Few topics inspire as much fervor and unprincipled rhetoric as capitalism. Free market barons trumpet the faceless expansion of multinational corporations and lambast any environmental or labor regulation as an undemocratic assault on economic freedom. Critics of capitalism, on the other hand, have become as taboo in mainstream media as frank discussions of sex were during the Production Code.
The latter group boasts Seymour Melman, a professor of industrial engineering at Columbia University, who has long criticized American capitalism as alienating, militaristic, increasingly inequitable, and economically inefficient...
(read rest of review at Human Nature Reviews)
We could build a new society for $700 billion. Don't bail out the banks, buy them. Give home owners new loans. If they don't have jobs, start a public works program -- there's plenty of work to do -- fix roads; clean up the environment, teach school, and 100s of billions to spend to pay salaries.
Sure, I"m not an economist, so let me stop talking and just remind you that there are experts who know how to move us to a better system, we just have to start examining some of our decades-old taboos.