Beyond the speculative and often fraudulent froth that characterizes much of neoliberal financial manipulation, there lies a deeper process that entails the springing of ‘the debt trap’ as a primary means of accumulation by dispossession. Crisis creation, management, and manipulation on the world stage has evolved into the fine art of deliberative redistribution of wealth from poor countries to the rich. I documented the impact of Volcker’s interest rate increase on Mexico earlier. While proclaiming its role as a noble leader organizing ‘bail-outs’ to keep global capital accumulation on track, the US paved the way to pillage the Mexican economy. This was what the US Treasury—Wall Street—IMF complex became expert at doing everywhere. Greenspan at the Federal Reserve deployed the same Volcker tactic several times in the 1990s. Debt crises in individual countries, uncommon during the 1960s, became very frequent during the 1980s and 1990s. Hardly any developing country remained untouched, and in some cases, as in Latin America, such crises became endemic. These debt crises were orchestrated, managed, and controlled both to rationalize the system and to redistribute assets. Since 1980, it has been calculated, ‘over fifty Marshall Plans (over $4.6 trillion) have been sent by the peoples at the Periphery to their creditors in the Center’. ‘What a peculiar world’, sighs Stiglitz, ‘in which the poor countries are in effect subsidizing the richest. David Harvey
After all, if you do not resist the apparently inevitable, you will never know how inevitable the inevitable was.
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Terry Eagleton
Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The businessman's tool is values; the bureaucrat's tool...
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Ayn Rand
America's abundance was created not by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America's industrialization....
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Ayn Rand
Congress shall make no law abridging the freedom of production and trade...
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Ayn Rand
In the pragmatist, streetwise climate of advanced postmodern capitalism, with its scepticism of big pictures and grand narratives, its hard-nosed disenchantment with the metaphysical, 'life' is one among a whole series of discredited totalities. We are invited to think small rather than big — ironically,...
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Terry Eagleton
More Quotes By David Harvey
What separates Rand from Marx is that the latter saw the true flourishing of individual creativity as best accomplished through collaboration and association with others in a collective drive to abolish the barriers of scarcity and material necessity beyond which, Marx held, the true realm...
..those thoroughly incorporated within the inexorable logic of the market and its demands find that there is little time and space in which to explore emancipatory potentialities outside what is marketed as 'creative' adventure, leisure, and spectacle. Obliged to live as appendages of the market...
Empiricism assumes that objects can be understood independendy of observing subjects. Truth is therefore assumed to lie in a world external to the observer whose job is to record and faithfully reflect the attributes of objects. This logical empiricism is a pragmatic version of that...
One of the curious things about our educational system, I would note, is that the better trained you are in a discipline, the less used to dialectical method you're likely to be. In fact, young children are very dialectical; they see everything in motion, in...
This is what the bourgeois political economists have done: they have treated value as a fact of nature, not a social construction arising out of a particular mode of production. What Marx is interested in is a revolutionary transformation of society, and that means an...
