Bit obvious really. It destroys the notion of impersonal market forces determining capitalist outcome. It demonstrates that there is indeed a plan, created through interaction of the elite. That can be very destructive, such as unleashing oligopoly or financial profiteering. Generally speaking though, it's about artificially inflaming inequalities through the creation of economic rent.
Already gave two examples. First, the financial crisis was enabled through liberalisation engineered by the financial elite. Second, neoliberalism is a deliberate attempt to further accentuate inequalities.
it was caused by massive interference with capitalism For example, Fan/Fred owned or guaranteed 75% of subprime or Alt A mortgages at time of crisis. Simple enough?
Is this your new script? If so, please adjust it to taken into account fhe answes. You already have two examples. And you don't have to be Einstein to understand them!
I'll keep repeating and hope that I get through to you. The technostructure destroys any notion of impersonal market forces. Those personal relationships ensure planning. Neoliberalism is deliberate planning to increase economic divides.
Example? Any private public close relationship counts (so any industry with oligoplistic markets). You've already been educated, for example, over one of the most researched areas: the military industrial complex where government actually determined the merger process)
You might enjoy this as an example of an economy becoming more like Israel in her good ol' days. In the town of Canso, N. S. two families were making 95% or so of the profits from the fishing industry. Dr. Moses Coady got the fishermen to form a cooperative....... market their own fish....... and all of a sudden real income surged for most members of the community. They organized something similar for farmers as well. There was no net growth really.... just a more fair distribution of wealth within all the people who were producing that wealth. https://en.wikipedia.org/wiki/Antigonish_Movement
A shift in the economy of Nova Scotia from being surprisingly FEUDAL........ where one percent of the population had 95% of the wealth....... to a situation where 80% or more of us can eat steak just as often as those one percenters do!
I think that you will also enjoy reading about The Worgl Experiment....... especially how successfully it was applied in America during the Great Depression. http://www.politicalforum.com/index...iment-can-be-applied-in-america-again.387345/ Do you think that the Worgl, Austria experiment can be applied in America again? http://www.whatcomwatch.org/php/WW_open.php?id=717
how insane of you!! we are talking about capitalism, not military where there is one buyer, the govt! The liberal has just just proved he has no examples!!
Unfortunately you demonstrate a naivety over how capitalism operates. What do you think Galbraith and co are focusing on? They're demonstrating that the distinction between the private and public sector are necessarily blurred. The private sector evolves to protect economic rents; the public sector becomes the key economic agent in ensuring that. The MIC is a great example of the consequences for capitalism. The public sector has a goal: attempting to stabilise the industry by maximising economies of scale. However, by doing that, they merely maximise influence costs. Government stabilisation, needed in capitalism because of its innate tendency towards crisis, ensures the reproduction of inefficient profit.
There's no reason why, if people want to consume less, that they can't produce less, which would mean a reduction in production.
not blurred to Republicans who want to shrink the public sector because it is socialist and inefficient.
Two errors here. First, Republicans don't shrink the public sector (as shown by their insistence in increasing debt). Second, you confuse the public sector and socialism. Government interventionism is a natural part of capitalism, given it's tendency to crisis and the need for stabilisation.
the private sector evolves to bankrupt millions of businesses in order for innovative survivors to serve customers with always increasing standards of living. Your old world perspective is out of the 1930's. How old are you?
