The End of Germany’s Delustion
It took a pandemic and the threat of war to get Germany to dispense with the two taboos – against debt and monetary financing of budgets – that have strangled its governments for decades. Now, it must join the rest of Europe in offering a positive vision of self-sufficiency and an “anti-fascist economic policy.”
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The New Washington Consensus
For decades, we have been told that government-operated businesses are bad for the economy. A staple of the “Washington Consensus” that emerged in the 1980s was that “private industry is managed more efficiently than state enterprises,” because the threat of bankruptcy keeps managers in private companies focused on the bottom line. Originally formulated for countries in Latin America and then applied during the post-communist transition in Central and Eastern Europe, the Washington Consensus has been the dominant economic policy paradigm ever since.
To Google or Not to Google
A company that achieves its monopoly status by offering better products or services has not broken any law; but the situation changes when it willfully acquires or maintains that power. With a federal judge ruling that Google has crossed the line, the future of internet search is now an open question.
Outsourcing our Future To For-Profit AI
Recent developments suggest that policymakers and others in positions of public authority are more than happy to cede total control to the corporations commercializing artificial intelligence. Once again, the returns will remain private, but any future costs will inevitably be borne by the public.
Capitalism is Driving Democracy’s Death Spiral
The post-election blame game in the United States will not only tear apart the Democratic Party, but will also distract from the elephant in the room. Democracy has been eroded by a socioeconomic regime that puts price signals above people's needs, undermining the capacity for consensus and collective decision-making.