Quote of the week

“Neo-liberal pro-rich reform in the 1980s. According to World Bank data, the world economy used to grow in per capita terms at over 3 per cent during the 1960s and 70s, while since the 1980s it has been growing at the rate of 1.4 per cent per year”

– Ha-Joon Chang – Faculty of Economics and Politics, University of Cambridge


The National Security Complex: Too Big to Fail?

“The Pentagon budget is, for instance, about 50 percent higher today than the Cold War average and accounts for nearly half of all military expenditures globally. And yet it has kept right on growing;”

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Source : Mother Jones

Spatial Protest in the Era of Fast Capital

“There is nothing to oversee the hyper growth of derivatives or high frequency trading or endless debt games, because there is no global institution that equates with the global markets. It is a clash of the market state and the nation state … The market state is winning, which is probably why we are all on the brink of losing everything.”
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Source : Polis

US Businesses Not Being Strangled By Regulation And Taxation, World Bank Says

“Overall, however, the ease of doing business in the U.S. remained unchanged at No. 4 worldwide even as Washington complains that the regulatory and tax burden is making matters worse.”

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Source :Forbes

New Inequality Data Likely to Boost “Occupy” Movement

“Lawmakers have effectively blocked all efforts to increase taxes on the corporations and wealthiest individuals, initiatives supported by about two-thirds of the public, according to the poll.”
“The CBO findings should bolster popular support for such efforts. While the after-tax income of the poorest 20 percent of U.S. households grew by an average of less than one percent per year”

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Source : Common Dreams

Rich People Create Jobs!

“This fear is easy to understand. No one likes paying higher taxes. But do lower taxes actually spur economic growth? Bruce Bartlett,an economist in the Reagan administration, has compared tax rates in various rich countries in 1979 to each country’s growth rate since then. His conclusion? There’s virtually no correlation.”

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Source : Mother Jones