If the workers of the world want to win, all they have to do is recognize their own solidarity. The

Showing posts with label Wealth. Show all posts
Showing posts with label Wealth. Show all posts

Wednesday, January 6, 2021

The Bezos Earth Fund and the charity of the oligarchs ~~ Shuvu Batta, Tom Carter

https://www.wsws.org/en/articles/2020/12/30/bezo-d30.html

Amidst an unprecedented transfer of wealth from the working class to the billionaires this year, sections of the bourgeoisie have decided to “donate” a small fraction of these ill-gotten gains to philanthropic causes. 

Friday, January 1, 2021

Escalating Plunder ~~ Robert Brenner

 https://newleftreview.org/issues/ii123/articles/robert-brenner-escalating-plunder

~~ posted for dmorista ~~

On 23 march 2020, the Federal Reserve made the historic announcement that, in response to the coronavirus economic crisis, it would provide loans to non-financial corporations in industry and services for the first time since the early 1930s.footnote1 A few days previously, former Fed Chairs Ben Bernanke and Janet Yellen had given their imprimatur to this precedent-shattering step.footnote2 Just how huge a cornucopia for big business the authorities had in mind would soon become clear. The Federal Reserve had, for the better part of a century, confined its lending to the us government, purchasing Treasuries and bonds issued by the Government Sponsored Entities (gses)—Fannie Mae, Freddie Mac, Ginnie Mae. The Central Bank had traditionally resisted extending its loan purchases beyond these instruments, not least because buying the debt of specific companies would leave it open to charges of favouritism. At the time of the 2007–08 global financial crisis, however—with the justification that the meltdown threatened the financial sector’s very functioning—then Fed Chair Bernanke consigned such niceties to the dustbin of history, showing in the process why those norms had been established in the first place.footnote3

Wednesday, October 14, 2020

Charity/Philanthropy and How they Obscure the Violence of Capitalism


Following are articles on philanthropy/charity and how they obscure the violence of capitalism: 

They Offer Charity Instead of Justice ~~ Paul D'Amato

and

Philanthropy: the Capitalist Art of Deception ~~ Susan Rosenthal