Tag Archives: debt

Why American market capitalism is broken

Yes, you’ve read correctly. You may not know who Rana Foroohar is, so let me inform you that she is a highly respected business and economic journalist working for TIME magazine, who has just published a book called Makers and Takers, published in May (Crown publishers), in which she makes this (to some startling) announcement….

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Bravo students: ‘The doors of learning and culture shall be opened’

The ongoing student protests across the country confirm, unambiguously, the failure of the neoliberal system in South Africa, which requires a hefty increase in student fees every year, given the fact that universities are now part of the invidious neoliberal economic system, instead of being state-funded public institutions. And don’t tell me that it is…

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The microfinance delusion: who really wins?

I’m always amazed at how many students show up each year in the classrooms of the London School of Economics, where I teach, quivering with excitement about microfinance and other “bottom-of-the-pyramid” development strategies. Like eager young missionaries, they feel they’ve stumbled upon the One Idea that is sure to save the world. Would that it…

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Greece: What you think you know may hurt you

“Nescience”. What a lovely word. It means not knowing. Looking at reactions to the Greek crisis, outside Greece, before and after a somewhat puzzling referendum makes me wish more people would accept the state of nescience on some issues. For me, the Greek tragedy presents a fascinating study of how politics and economics are inseparable….

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Are you allergic to debt?

To be allergic to debt is an inconvenient and annoying affliction. It’s worse than being lactose intolerant or breaking out in hives when you accidentally ingest a strawberry. I do have a credit card, and a cellphone contract, but other than that, I don’t borrow money. I’ve just developed a credit education campaign for a…

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The age of the indebted, mediatised, securitised and depoliticised

In Michael Hardt and Antonio Negri’s latest book Declaration (Argo Navis, 2012) — although, probably given its brevity (just over a hundred pages) compared to the books comprising their trilogy (Empire, Multitude and Commonwealth), they refer to it as a “pamphlet” — they articulate the global crisis of the present era in terms of four…

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Why can’t we get ourselves out of this sticky mess?

By Roger Diamond The news is oozing with opinions on the Eurozone crisis, debt defaults, bailouts and why eating baklava is about to be banned. Although there is plenty of merit in getting stuck into the details of easing the pain of recession and finding short term solutions to employment, liquidity and keeping the monetary…

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