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

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

demandside's picture
Jul. 31, 2007 4:01 pm

Income Inequality Has Gone Up

The chairman of the White House Council of Economic Advisers, Jason Furman, recently wrote in the Washington Post that "Last year saw the largest single-year reduction in poverty since the 1960s."

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