Daily Archives: July 22, 2019


Incentivizing an Ethical Economics

Naked Capitalism has the article Incentivizing an Ethical Economics.

Ethical economics, in which welfare is reconceptualised as a growth promoter, is not only important to restore our economic health. It is also fundamental to a genuine democracy – one in which everyone shares in economic success because they acquire the skills and support to do so. It may sound too good to be true, but the good news is that we’ve already achieved this mix twice in Britain’s history, each time with remarkably positive economic outcomes.

Also skimmed and set aside for future reading.


Michael Hudson: U.S. Economic Warfare and Likely Foreign Defenses

Naked Capitalism has the post Michael Hudson: U.S. Economic Warfare and Likely Foreign Defenses.

The American promise is that the victory of neoliberalism is the End of History, offering prosperity to the entire world. But beneath the rhetoric of free choice and free markets is the reality of corruption, subversion, coercion, debt peonage and neofeudalism. The reality is the creation and subsidy of polarized economies bifurcated between a privileged rentier class and its clients, their debtors and renters. America is to be permitted to monopolize trade in oil and food grains, and high-technology rent-yielding monopolies, living off its dependent customers. Unlike medieval serfdom, people subject to this End of History scenario can choose to live wherever they want. But wherever they live, they must take on a lifetime of debt to obtain access to a home of their own, and rely on U.S.-sponsored control of their basic needs, money and credit by adhering to U.S. financial planning of their economies. This dystopian scenario confirms Rosa Luxemburg’s recognition that the ultimate choice facing nations in today’s world is between socialism and barbarism.

I have skimmed the article, but I’ll have to go back and read it more carefully.