Karl Polanyi on Unfettered Capitalism

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http://portland.indymedia.org/en/2019/07/437720.shtml

by Rainer Hank and Wolfgang Merkel

Karl Polanyi condemned profit greed and deregulated markets. Today’s capitalism critics are his heirs and don’t know it. An unfettered capitalism is responsible for the world coming out of joint. The ancestors of an orientation that the economy needs social embedding hardly know Polanyi.

“Finance capital was put in the driver’s seat.” Border-crossing capital transactions increased enormously and were used for financial speculation, not for investments in productive projects.

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2 Responses to Karl Polanyi on Unfettered Capitalism

  1. Marc says:

    Video: Killing Joke live at St. Vitus, NYC, April 2019, 1 hr
    Thanx Jaz Coleman!

    https://www.youtube.com/watch?v=iEmYmE17EUU&list=RDiEmYmE17EUU&start_radio=1

  2. Marc says:

    AOC takes on Big Pharma over Stock Buybacks ($515 billion!)
    Democracy in action! Truthtelling can make our system credible, lead to vital reforms and save countless lives!

    https://twitter.com/cspan/status/1154782019144040448

    AOC: “One reason why drugs are so expensive is that Pharma CEO pay is often tied to their stock price. That means Big Pharma spends more money buying their own stocks than in research & devopment to make prescriptions cheaper. It’s a huge Ponzi scheme. Congress needs to end the stock buyback.”

    Like private health insurance, Big Pharma posted a 400% increase in profits over the past 30 years. They know how to twist arms and contribute to campaign financing!

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