In the course of the past twenty years, the Republican Party has fundamentally altered the basis of their ideological tenets, moving from a hands on, exceedingly progressive tax code under Eisenhower, to a laissez faire economic policy under contemporary Republicans. The party foundation suffered a paradigm shift so contradictory to the previous ideology, that there was a considerable exodus of moderate conservatives to the Democratic camp. This, in effect… continue reading →
A friend of mine recently said in response to Cameron’s claim that Britain should use Christian values. that we need jobs, not social engineering. Avoiding the ideological quicksand that this is, it seems a pretty legitimate statement. Instead of tinkering with the social order, we need to create jobs through investment.
This is a pretty Labour-ite criticism, and I’ve got no problem with it. Of course everyone needs jobs. Of course everyone is a bit annoyed at Cameron’s increasingly ideological politics, and heavy handed approach, and I’m sure many would relish the chance to get a swipe at him… continue reading →
You only have to turn over a British twenty pound note, to see arguably one of the most influential philosophers of all times, Adam Smith. Smith formulated one of the most crucial social sciences in understanding human interactions – economics – in his renowned book ‘The Wealth of Nations’. The book is considered his magnum opus and earned Smith a massive contemporary reputation as well as a legacy as ‘the father of modern economics’ and, importantly to this article, has often been labelled the first advocator of free-market capitalism... continue reading →
As often is the ironic truth, failure stems from success. When communism fell, we thought it was capitalism that triumphed. But with the severity of financial crashes, lurid accounts of corporate wrongdoing, unsustainable inequalities and increasingly volatile commodity prices all point in one direction.
Declining private sector growth through the entire capitalist world has for years been patched up by governments that allow their financial institutes to lend and borrow well in excess of economic growth in order to win elections and to fuel a materialist ‘feel-good factor’ in big business and investment institutions to stimulate their high return, short term wants… continue reading →
Of all the excuses capitalists conjure to excuse exploitation, trickle down has been one of the most commonly referred to. As capitalism inevitably concentrates the majority of wealth in the hands of a minority, it is difficult to pass neo-liberal policies as developmental. There is little question that capitalist methods are the most effective in increasing economic growth, and are better than perhaps any other model in that regard. However, capitalism as a model for development is simply ridiculous. Neo-liberals calling on trickle down as when imperialists called on social Darwinism to excuse foreign expansion. To enforce a system that is immoral and only serves… continue reading →