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“A capitalist economy cannot be maintained, however, if it oscillates between threats of an imminent collapse of asset values and employment and threats of accelerating inflation and rampant speculation, especially if the threats are sometimes realized. If the market mechanism is to function well, we must arrange to constrain the uncertainty due to business cycles so that the expectations that guide investment can reflect a vision of tranquil progress.”
― Stabilizing an Unstable Economy
― Stabilizing an Unstable Economy
“What if depression is, in fact, a form of grief—for our own lives not being as they should? What if it is a form of grief for the connections we have lost, yet still need?”
― Lost Connections: Uncovering the Real Causes of Depression - and the Unexpected Solutions
― Lost Connections: Uncovering the Real Causes of Depression - and the Unexpected Solutions
“Debt leveraging is a major reason why the United States and Britain have lost their industrial advantage. Debt-inflated costs for housing, education and other basic needs have priced their labor out of markets abroad and at home.”
― Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy
― Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy
“Whenever I hear an economist use the word “efficiency” (or “productivity”), I can guess with near 100% accuracy that he (it usually is a he, as I’ll explain below) hasn’t the slightest idea what he’s talking about. With rare exceptions, he is inappropriately applying an engineering term to an economic process he does not understand.”
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“Oligarchy: Rule by the few, usually the richest One Percent. In Aristotle’s political theory, oligarchy is the stage into which democracy evolves, and which ends up becoming a hereditary aristocracy. “The essence of oligarchic rule,” wrote George Orwell in Nineteen Eighty-Four, “is not father-to-son inheritance, but the persistence of a certain world-view and a certain way of life ... A ruling group is a ruling group so long as it can nominate its successors ... Who wields power is not important, provided that the hierarchical structure remains always the same.” The word “oligarchy” has been applied to Russia’s kleptocrats who obtained natural resources and other assets under Boris Yeltsin, most notoriously in the 1994-1996 “bank loans for shares” insider deals. It also applies to Latin American and other client oligarchies that concentrate wealth in the financial and propertied class at the top of the pyramid. However, U.S. media vocabulary defines any country as a democracy as long as it supports the Washington Consensus and U.S. diplomacy.”
― J IS FOR JUNK ECONOMICS: A Guide To Reality In An Age Of Deception
― J IS FOR JUNK ECONOMICS: A Guide To Reality In An Age Of Deception
Oliver’s 2024 Year in Books
Take a look at Oliver’s Year in Books, including some fun facts about their reading.
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