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[...] the main ideologues and beneficiaries of neoliberalization managed, amazingly, to spin the collapse they precipitated into a story about the profligate irresponsibility and unrealistic expectations of workers, students, and the unemployed. The massive holes in every capitalist nations public …

[...] (Investment bankers like to say "distribute" the risk, since they see their primary social function, the "good" they do in the world, as that of "distributing" risk to those who can bear it. We can see now how well this works, and how valuable this "social function" is. In practice, it is mer…

[...] The biggest problem for finance capital, and almost anybody else who wanted to borrow to invest, was not where to get the money but where to put it all [...]. Idle money is not capital; it is not accumulating [...]. [...]

Speculative currency shorting (usually) targes a weaker nation in the global political economy, because stronger nations can fight back by using reserves to purchase their currency on those same markes, thereby maintaining demand and protecting the currency's exchange rate. [...] Thailand had littl…

[...] despite very low wages for the vast majority of its labour-force, Chinese savings rates are very high. This is probably a function of both cultural norms [...] and the low wages and export-orientation of Chinese industry. High saving propensities and low incomes mean that until very recently,…