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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The Death of the Middle Class was by Design...

Even in the face of the so-called Recovery, poverty and inequality are getting worse in our country, and more wealth and power is flowing straight to the top. According to Paul Buchheit over at Alternet, this is the end result of winner-take-all capitalism, and this destruction of the working class has all been by design.

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