The work of Richard Wolff and Stephen Resnick contains some insights for socialists but it is not Marxian economics and is not socialist. The late twentieth-century saw the demise of many governments that viewed themselves as heirs of the ideas of Karl Marx. The failure of these regimes was seen by their opponents as the triumph of capitalism and the death of socialism. With the rise of neoliberal economics in advanced industrial countries the future of the left did indeed seem bleak. The legacy of Karl Marx and Marxian socialism, however, was far from dead. As the current global...
Read more »
“I treat the ridiculous seriously when I treat it with ridicule.” Marx explained in “On Freedom of the Press and Censorship.” Born on 5 May 1818, Karl Marx died 14th March 1883 after a long illness, his end undoubtedly being hastened by the death of his wife in 1881 and his favourite daughter, Jenny, in 1882. Marx devoted the best years of his life in the struggle for socialism and the fruits of his labours are a legacy of inestimable value to the working class. There were less than a dozen mourners for his funeral at Highgate Cemetry. You...
Read more »
An article in Scientific American (July 2012) by Professor of Biology and Mathematics Martin Nowak entitled “Why We Help” goes a long way in providing Socialists a scientific argument to refute the idea of “red in tooth and claw” evolution that is supposed to have spawned — on even a genetic level — the strictly competitive “Devil take the hindmost” character of human nature: the product of capitalist society. Professor Nowak writes: “While on retreat with some fellow students and professors in the Alps, I learned about a game theory paradox called the Prisoner’s Dilemma that elegantly illustrates why...
Read more »
Proverbs 10:22 says, ”The blessing of the Lord brings wealth, without painful toil for it.” The world’s largest Christian TV channel, the California-based Trinity Broadcasting Network, has become embroiled in a multimillion-dollar financial scandal after members of the family that founded it alleged widespread embezzlement. The claims – by Brittany Koper, whose grandfather Paul Crouch founded TBN, and by Joseph McVeigh, another family member – describe exorbitant spending on mansions in California, Tennessee and Florida, private jets and even a $100,000 mobile home to house the dogs of Crouch’s flamboyant wife. The network’s lawyer said the Crouches travel by private...
Read more »
A month off his eighty-fourth birthday, Ian Paisley announced his impending retirement as the Member of Parliament for North Antrim in the British House of Commons. If he has not retired a very rich man he must have been exceedingly profligate for during much of his political career he was one of Europe’s biggest political earners on salary and expenses simultaneously from the European Parliament, the British Parliament, the various Northern Ireland Assemblies. Additionally, of course, he had invented the Free Presbyterian route to heaven, incorporated it into an established religion catering for anti-Papist bigotry where he enjoyed the...
Read more »
PROFIT HOTEL (dirty gossip about the capitalist mode of production!)
The dismal art? After the socialist revolution, will economics be demoted to an art form? Is economics even “soft science”? There is one small problem … A recent article in Science News notes: Annual forecasts of currency values from December 2001 to December 2010, which guided banks’ investment decisions, missed the mark nine out of 10 times, says psychologist Gerd Gigerenzer of the Max Planck Institute for Human Development in Berlin. Banks incorrectly foretold the fates of the dollar and the euro in the years leading up to, during and after the recent financial crisis. [Bruce Bower, “Banks confuse...
Read more »