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View Diary: the new outsourcing; why the jobs are NEVER coming back. (316 comments)

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  •  "financialism" is a better word than (0+ / 0-)

    "capitalism" for the phenomenon in question.

    To put the torture behind us is, inevitably, to put it in front of us.

    by UntimelyRippd on Thu Jan 09, 2014 at 02:55:43 PM PST

    [ Parent ]

    •  Actually not (0+ / 0-)

      Financialization of the economy is a consequence of capital's need to grow. So what you call financialism can only occur in a capitalist economy that has evolved to the point where it can no longer survive by being productive.

      We cannot win a war crime - Dancewater, July 27, 2008

      by unclejohn on Thu Jan 09, 2014 at 03:01:07 PM PST

      [ Parent ]

      •  financialism can occur anytime and anywhere (1+ / 0-)
        Recommended by:
        AoT

        that the capitalists are given control of the financial system, which is what has happened. why work to grow "capital" at 3% per year when you can grow phony financial wealth at 20% per year?

        either way, the system is unsustainable -- even 3% per year cannot be sustained for more than a couple of centuries, nevermind the 10% that the capitalists arbitrarily think of as their due, never nevermind the 20, 40, 80% rates possible via financialism.

        To put the torture behind us is, inevitably, to put it in front of us.

        by UntimelyRippd on Thu Jan 09, 2014 at 05:16:41 PM PST

        [ Parent ]

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