Socialist Economist

Exploring alternatives. FB:

[Socialist Economist @SocialistEconom]

SE is on hold, for now. What remains is the need for social movements to think, in depth, about capitalism and its alternatives, from an economic point of view.

"This is a question that needs to be thought through with extreme care – and now."

https://t.co/p9cPSO5NPg

[Socialist Economist @SocialistEconom]

@RedGreenwell Perhaps you would be interested in the work of marxist economist Andrew Kliman in this context. “The Failure of Capitalist Production: Underlying Causes of the Great Recession”. He, as you, sees no “financialization” (in the US), and discusses why this “myth” persists.

[Socialist Economist @SocialistEconom]

Capitalism & Racism are very much related, marxist economist Richard Wolff explains:

https://t.co/w3HSil0ma3

[Socialist Economist @SocialistEconom]

Capitalism ➫ Racism. How?

U.S. capitalism used, absorbed, and built on slavery’s legacy by inserting large portions of the African American community into the shock-absorber role that the system required, marxist economist Richard D. Wolff explains.

https://t.co/w3HSil0ma3

[Socialist Economist @SocialistEconom]

Karl Marx: his life, his theory, summarized in two interesting articles by Eleanor Marx (daughter).

#Marx #Marxism #Marxists
https://t.co/iKqA8M2P8k

[Socialist Economist @SocialistEconom]

More government borrowing ➫ Less private borrowing?

Not really, according to economist Prabhat Patnaik. The idea that there's a fixed pool of savings, has been debunked long ago. It's still being repeated because capitalists fear state intervention.

https://t.co/P4qdd5N5c0

[Socialist Economist @SocialistEconom]

A sea-change in economic thought in the 1870s, often labeled as “the marginalist revolution”, gave rise to what later became “neoclassical economics”. It has its roots in the rise of finance and the escalating class struggles across Europe.

Yair Kaldor:
https://t.co/fZVQSXqT28

[Socialist Economist @SocialistEconom]

Neoliberalism & Inequality➫ Trump?

That's not what the data shows, economist Kliman says.

‟There is no evidence that the shift to Trump was a revolt of low-income voters". It's a "manifestation of a long-standing white-nationalist strain in US politics"
https://t.co/jlM1fec9x2

[Socialist Economist @SocialistEconom]

Capitalism ➫ Racism. How?

Mainstream economists say firms that discriminate will be competed out of business. But profit maximizing firms in fact require economic discrimination.

A brief economic analysis by Leftist economist Robin Hahnel:
https://t.co/xVS1T8PKzH

[Socialist Economist @SocialistEconom]

Hard times in our formative years make us pessimistic long after those times have passed. Which is where class comes in. Being posh insulates you somewhat from hard times.

Insights from Chris Dillow (@CJFDillow), from July 2019, but still relevant today:
https://t.co/U7ClZnLybk

[Socialist Economist @SocialistEconom]

"If human intelligence is turned to the question of how to make the necessary work of the society itself meaningful, we don’t know what the answer will be. My guess is that a fair amount of it can be made entirely tolerable."

https://t.co/O1yr5c4J0q

[Socialist Economist @SocialistEconom]

"The past century has shown that if society does not control the banks and financial sector, they will control society."

Michael Hudson on Socialism, Land and Banking https://t.co/U8NR0DoBMu

[Socialist Economist @SocialistEconom]

As calls to "liberate" economies increase, are "our" freedoms returning? Free Enterprise ≠ Economic Freedom, economist Robin Hahnel once explained:
https://t.co/EGErXYk5Ez

[Socialist Economist @SocialistEconom]

Today is exactly 2,5 months after Rosa Luxemburg's birthday. This is what she said about economists: "They try only to send up a smoke screen for the purpose of defending capitalism as the best of all economic orders, and the only possible one." https://t.co/3mKvt7a4H3

[Socialist Economist @SocialistEconom]

Global trade, also affected by the current crisis, also problematic before the pandemic, as economist Samir Amin (1931-2018) explained. "For the African countries, this globalisation means plunder.." https://t.co/5ybPeWqCUE

[Black Socialists in America (BSA) @BlackSocialists]

“This crippling of individuals I consider the worst evil of capitalism. Our whole educational system suffers from this evil.

...

I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy...”

– Albert Einstein

[Socialist Economist @SocialistEconom]

Why was it that countries with more robust states and with a tradition of public action have been able to more effectively curtail the virus? Tricontinental Institute (@tri_continental) explains:

https://t.co/0sICpcCo8R

[Socialist Economist @SocialistEconom]

The trend of the labor share, already falling prior to the pandemic, will continue to decline as the reserve army of unemployed and underemployed workers increases. Unless we change the configuration of the American economy.

By economist David Ruccio:
https://t.co/pOHckEhraB

[Socialist Economist @SocialistEconom]

"Will what emerges resemble some kind of ‘re-founded communism’, or will it develop into a kind of police state propped up by big data? There is no a priori answer to these questions."

@tri_continental discussing recent history & the choices of today:
https://t.co/JnfW0704VR

[Socialist Economist @SocialistEconom]

"The virus is the product of nature, while the crisis is the product of neoliberalism."

➫ Read Tricontinental Institute's (@tri_continental) latest analysis of the coronacrisis on SE:
https://t.co/JnfW0704VR