International investors have a private court of appeal even in criminal matters - "A parallel legal universe, open only to corporations and largely invisible to everyone else, helps executives convicted of crimes escape punishment. [ISDS] operates unconstrained by precedent or any significant public oversight, often keeping its proceedings and sometimes even its decisions secret." (via) [more inside]
You’re witnessing the death of neoliberalism – from within Aditya Chakrabortty comments about the IMF paper titled, "Neoliberalism, Oversold?" that has been making waves. To put it mildly.
The three party system - "There are three major political forces in contemporary politics in developed countries: tribalism, neoliberalism and leftism (defined in more detail below). Until recently, the party system involved competition between different versions of neoliberalism. Since the Global Financial Crisis, neoliberals have remained in power almost everywhere, but can no longer command the electoral support needed to marginalise both tribalists and leftists at the same time. So, we are seeing the emergence of a three-party system, which is inherently unstable because of the Condorcet problem and for other reasons." [more inside]
In a wide-ranging discussion about democracy, capitalism, and the American body politic; Chris Hedges interviews political theorist Sheldon Wolin in eight parts. (via) (previously) [more inside]
Or, why is there still socialism in the United States?
Why, then, would we look for evidence of socialism only where a state seized by radicals of the Left inaugurates a dictatorship of the proletariat? Or, to lower the rhetorical volume and evidentiary stakes, why would we expect to find socialism only where avowed socialists or labor parties contend for state power? We should instead assume that socialism, like capitalism, is a cross-class cultural construction, to which even the bourgeoisie has already made significant contributions – just as the proletariat has long made significant contributions to the cross-class construction we know as capitalism. What follows?
"This is an intriguing little video summarizing the hypothesis of a new study by Vamsi Vakulabharanam. It looks at the puzzle of why China and India are exceptions to the Kuznets curve, that economic development at first increases income inequality but then starts to produce less disparity. But that did not occur in India and China. Vakulabharanam argues that the difference lies in changes in institutional arrangements, and the inflection point was roughly 1980."
Rob Horning has a wide-ranging and insightful essay up at n+1 that seeks connections between three apparently disparate phenomena: global fast-fashion retailers with dubious labor practices like H&M and Forever 21; self-presentation on social media web sites; and neoliberal capitalism's new demands for workers to embrace precarity by endlessly reinventing their identities. [more inside]
All Watched Over by Machines of Loving Grace is the name of a new documentary series by Adam Curtis. The first episode, Love and Power [BBC iPlayer], draws connections between Ayn Rand, Alan Greenspan, an experiment by Pixar co-founder Loren Carpenter, the Californian Ideology of Silicon Valley in the 90s, Bill Clinton's presidency, and the persistence of the global capitalist hegemony in the face of continuing economic crisis. Curtis discusses his ideas in the Guardian.
It is not our role to take power. It is our role to make the powerful frightened of us. And that's what we've forgotten. Give up that dream! Chris Hedges talks neoliberalism and neofeudalism, the civil rights movement, Camden, Obama, Clinton, Tea Parties, moral nihilism, inverted totalitarianism and corpocracy, NAFTA, welfare reform, health care, labor, poverty, Yugoslavia, post-industrial capitalism, economic crisis, imperial collapse, socialism, and democracy, among other things. [more inside]
Adam Smith in Beijing Embedded Flash film 1hr59mins "Is US power in decline? What are we to make of the rise of China? Will a possible equalization of North-South relations herald a more brutal capitalism or a better world? Giovanni Arrighi, Joel Andreas, and David Harvey give their perspectives in this forum, for a discussion of Arrighi's 2007 book Adam Smith in Beijing. The event, filmed in Baltimore, MD, in March of 2008, was organized by the Red Emma's collective."
Kiki and Bubu! Austrian art collective monochrom presents the adventures of two sock puppets. Part One: Kiki and Bubu and The Shift. "Bubu wants to know why his dad is busy all the time. And Kiki explains him why... because of the neoliberal shift." Part Two: Kiki and Bubu and The Privilege. "Bubu ran into a bunch of liberals and they gave him a book. They said if he doesn't read it, they're going to beat him up. But Bubu can't read! And so Kiki helps..." [Via BB]