The End of the "Golden Age" of Capitalism and the Rise of Neoliberalism

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"The central point is that the financial sphere has the potential of developing into an autonomous subsystem of the whole economy with an enormous capacity for self-expansion.. Like cancer, it has no internal control mechanism. It can only be brought under control through external interventions..

In Pinochet's Chile, deregulation, privatization, tax cuts, monetarism and social dismantling were tested in detail by the Chicago Boys before this policy mix was applied in the first industrial countries under US president Ronald Reagan and the British "iron lady" Margaret Thatcher."

to read Tomasz Konicz' article "The End of the `Golden Age' of Capitalism and the Rise of Neoliberalism" published in the German-English cyber journal Telepolis 11/24/2008, click on

http://portland.indymedia.org/en/2011/01/405441.shtml

Among the related links is Tom Tomorrow's cartoon on Goldman Sachs:

http://climateprogress.org/2010/05/04/tom-tomorrow-goldman-sachs/

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demandside
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Who will be this Generation’s Thomas Jefferson?

We could be looking at the end of the American experiment, and it has gone so far that it'll take a political revolution to set things right again.

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