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September 09 2011

02mydafsoup-01
via The goose-step : a study of American education

The Goose-step: A Study of American Education is a book, published in 1923, by the American novelist and muckraking journalist Upton Sinclair. It is an investigation into the consequences of plutocratic capitalist control of American colleges and universities. Sinclair writes, “Our educational system is not a public service, but an instrument of special privilege; its purpose is not to further the welfare of mankind, but merely to keep America capitalist." (p. 18)

The book is one of the “Dead Hand” series: six books Sinclair wrote on American institutions. The series also includes The Profits of Religion, The Brass Check (journalism), The Goslings (elementary and high school education), Mammonart (great literature, art and music) and Money Writes! (literature). The term “Dead Hand” criticizes Adam Smith’s concept that allowing an "invisible hand" of capitalist greed to shape economic relations provides the best result for society as a whole. [source: WP]

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September 06 2011

02mydafsoup-01
[...]

The state debt crisis became visible in the Dubai crisis in November 2009, but it has unfolded since 2010 in the European periphery. The huge imbalances within the Euro zone, which have been working well for the German export economy, are pushing the states of the periphery into bankruptcy. The 'Euro crisis', which returns in short intervals, is not a currency crisis – in comparison, the Euro is to date more stable than the Deutsche Mark used to be, in relation to the US Dollar the Euro is overrated, and it becomes increasingly important as a global reserve currency. The 'Euro crisis' is a crisis of the European banks, of political governance and of the EU itself. In particular, it is the structure of the EU itself which aggravates the crisis. It is not designed for a common European welfare and fiscal policy; the ECB independently decides about monetary policy, and is focused exclusively upon the stability of the Euro. Therefore the crisis has so far been managed by 'shadow governments in Brussels' and a 'state of permanent emergency to rescue the Euro'. The main burden is on the ECB, which rescued the banks by buying their junk assets. It bought the state bonds of the over-indebted states (for what it's worth breaking a cherished taboo by this), and at the same time putting pressure on these states to cut their public expenditure. But first of all, by its interest rate policies, the ECB tries to prevent workers from struggling and obtaining higher wages.

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Wildcat.english – Movement in Spain – .... and all of a sudden everything became real - 2011-07-08
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