The utopian potentials inherent in twenty-first-century technology cannot remain bound to a parochial capitalist imagination; they must be liberated by an ambitious left alternative.
We must create a Europe that does not squander its blood and strength on internecine conflict, but forms a compact unity.
endnote v
The differences between Greece and Ireland are instructive. Ireland had a tiny debt before 2008. Greece had a large one. The reason is simple: capital flow from the surplus countries was directed into the Greek state, which in turn passed it on to developers--those who built highways, 2004 Olympic …
Heavy industry centres are typified by large, networked, powerful corporations. To cover their overheads these entities must have large outputs and contain their labour costs. This means that local people (mostly wage earners) cannot consume all that the factories are producing. This is why powerhouse economies require a hinterland to generate the necessary demand for their surplus goods. If the exchange rate between the powerhouse economy and the hinterland is fixed, the hinterland will remain in permanent trade deficit
endnote 39; you need a surplus recycling mechanism to fix that
