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Kobe Steel Faked Quality Data For Decades | Auto
NEOLIBERALISM, GLOBALISM, ECONOMIC NATIONALISM
Out of Control: A Brief History of Neoliberal Deregulation in the USA
The final nail in the regulatory coffin was the Bill Clinton administration (1993-2001). Clinton repealed laws and prevented government intervention in speculative markets, until they collapsed. These deregulations built upon the Nixon-Reagan era and ultimately contributed to the Crash of 2007, the Crisis of 2008 and the ongoing Recession.
How to Think
The decision making humans of our society almost all run a particular set of beliefs best called neo-liberalism, a particularly harmful strain of capitalism. They believe in it, because they have benefited from it, and because everyone around them believes in it. If you don’t believe in it, you don’t get into power, with rare exceptions. This set of beliefs has led to catastrophe after catastrophe; starting with the Russian transition from Communism; including the financial collapse and austerity; and certainly including ignoring the last chance to limit climate change to acceptable levels.
Blinkered Economists on “Free Trade” | Naked
Even though the historical facts devastatingly rebut the macroeconomic theory, macroeconomists ignore the facts. Since the uses to which ocountries might put the increased wealth obtained by trade lays outside their theory, they are blinkered and blind to it, and assuming that it does not exist. That World War I rebuts their argument is waved away as ancient history, even though human nature has not changed one wit.
13 ways to raise living standards and strengthen the economy |Noah Smith, Bloomberg
I thought I’d make a list of policies that I would enact if I were in office. The overall goals of these policies would be to improve productivity, to ensure gainful employment for as many people as possible, to alleviate material deprivation and to provide for those who have trouble providing for themselves. Here’s my baker’s dozen:
Globalisation: the rise and fall of an idea that swept the world
It’s not just a populist backlash – many economists who once swore by free trade have changed their minds, too. How had they got it so wrong?
Naomi Klein on Global Neoliberalism
The model that Latin Americans call neo-liberalism, Americans call the free market
But these policies of privatization; free trade . . . the so-called free trade deregulation in the interest of corporations; deep cuts to social spending; healthcare and education cuts; things like that, in Argentina they actually just call this "el modelo" -- the model. Everybody knows what the model is. It's the so-called Washington Consensus. It's the policies that have been imposed on Latin America first through military dictatorships, then as conditions attached to loans that were needed during economic crises . . . the so-called "debt crisis" of the 1980s.
Definition of Economic nationalism | Wikipedia
Economic nationalism is an umbrella term that includes economic policies and theories designed to improve the domestic economy relative to foreign economies. It therefore subsumes theories such as economic patriotism, protectionism, and mercantilism, all of which are different forms of economic nationalism. Economic nationalists oppose globalization, or at least question the benefits of unrestricted free trade.
"Neoliberalism” is characterised by four significant economic policies:
1) the abandonment of full employment as a desirable policy goal and its replacement with inflation targeting;
2) an increase in the globalization of the flows of people, capital, and trade;
3) a focus at a firm level on shareholder value maximization rather than reinvestment and growth; and
4) the pursuit of flexible labor markets and the disruption of trade unions and workers’ organisation.
Beat the Press
The "Free Traders" Who Do Not Believe in Free Trade
Almost none of the people who pronounce themselves devotees of free trade actually do consistently advocate free trade policies. Rather they push selective protectionist policies, that have the effect of redistributing income to people like them, and call them "free trade."