Economic Crisis Quotes

Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.

Congress shall make no law abridging the freedom of production and trade...

The present convergence of crises––in money, energy, education, health, water, soil, climate, politics, the environment, and more––is a birth crisis, expelling us from the old world into a new.

social mobility isn’t just about money and economics, it’s about a lifestyle change. The wealthy and the powerful aren’t just wealthy and powerful; they follow a different set of norms and mores. When you go from working-class to professional-class, almost everything about your old life becomes unfashionable at best or unhealthy at worst.

Funny thing about those Middle Ages, said Joseph. "They just keep coming back. Mortals keep thinking they're in Modern Times, you know, they get all this neat technology and pass all these humanitarian laws, and then something happens: there's an economic crisis, or science makes some discovery people can't deal with. And boom, people go right back to burning Jews and selling pieces of the true Cross. Don't you ever make the mistake of thinking that mortals want to live in a golden age. They hate thinking.

There is no group of Americans more pessimistic than working-class whites. Well over half of blacks, Latinos, and college-educated whites expect that their children will fare better economically than they have. Among working-class whites, only 44 percent share that expectation.

This is the permanent tension that lies at the heart of a capitalist democracy and is exacerbated in times of crisis. In order to ensure the survival of the richest, it is democracy that has to be heavily regulated rather than capitalism.

The financial crisis we are facing today arises from the fact that there is almost no more social, cultural, natural, and spiritual capital left to convert into money.

The world has never been as divided as it is now, what with religious wars, genocides, a lack of respect for the planet, economic crisis, depression, poverty, with everyone wanting instant solutions to at least some of the world's problems or their own. And things only look bleaker as we head into future.

As Tony Benn, the British Labour politician, once suggested, we should constantly ask those who govern us five questions: What power have you got? Where did you get it from? In whose interests do you exercise it? To whom are you accountable? And how can we get rid of you?

The test of a progressive policy is not private but public, not just rising income and consumption for individuals, but widening the opportunities and what Amartya Sen calls the 'capabilities' of all through collective action. But that means, it must mean, public non-profit initiative, even if only in redistributing private accumulation. Public decisions aimed at collective social improvement from which all human lives should gain. That is the basis of progressive policy—not maximising economic growth and personal incomes. Nowhere will this be more important than in tackling the greatest problem facing us this century, the environmental crisis. Whatever ideological logo we choose for it, it will mean a major shift away from the free market and towards public action, a bigger shift than the British government has yet envisaged. And, given the acuteness of the economic crisis, probably a fairly rapid shift. Time is not on our side.

I will feel no guilt on shutting my door to those who didn't listen.

The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable: its general nature, if not its magnitude. Markets are always inefficient.

We can and must respond creatively to the triple crisis and simultaneously overcome dehumanization, economic inequality, and, ecological catastrophe.

Oil may run out, liquidity may dry up, but as long as ink flows freely, the next chapter of Life will continue to be written.

It has been decided by our leaders that economic growth is more important. That the extinction crisis is an acceptable trade for their greed.

13. 99 percent is a very large percentage. For instance, easily 99 percent of people want a roof over their heads, food on their tables, and the occasional slice of cake for dessert. Surely an arrangement can be made with that niggling 1 percent who disagree.

This story is the ultimate example of American’s biggest political problem. We no longer have the attention span to deal with any twenty-first century crisis. We live in an economy that is immensely complex and we are completely at the mercy of the small group of people who understand it – who incidentally often happen to be the same people who built these wildly complex economic systems. We have to trust these people to do the right thing, but we can’t, because, well, they’re scum. Which is kind of a big problem, when you think about it.

We give more economic aid to multinational corporations to increase their profits than we do to all the countries in the world combined.

Then the shit hit the fan.

Racial and ethnic tensions simmer just below the surface in virtually all multiethnic societies, but it usually takes an economic crisis to blow off the lid of civility and allow deep-seated hatred to degenerate into violence.

All the mega corporations on the planet make their obscene profits off the labor and suffering of others, with complete disregard for the effects on the workers, environment, and future generations. As with the banking sector, they play games with the lives of millions, hysterically reject any kind of government intervention when the profits are rolling in, but are quick to pass the bill for the cleanup and the far-reaching consequences of these avoidable tragedies to the public when things go wrong. We have a straightforward proposal: if they want public money, we want public control. It's that simple.

Capitalism cannot cause a financial crisis because capitalism is about markets constantly correcting errors. It is government intervention that can and often does cause crises,

The climate crisis is the result of social, political, and economic systems that are wildly skewed to benefit those who already have so much.

...If you look at mainstream economics there are three things you will not find in a mainstream economic model - Banks, Debt, and Money. How anybody can think they can analyze capital while leaving out Banks, Debt, and Money is a bit to me like an ornithologist trying to work out how a bird flies whilst ignoring that the bird has wings...

We must realize that growth is but an adolescent phase of life which stops when physical maturity is reached. If growth continues in the period of maturity it is called obesity or cancer. Prescribing growth as the cure for the energy crisis has all the logic of prescribing increasing quantities of food as a remedy for obesity.

In these ways, your son's economic health can dictate his ability to be loved, which makes his economic health inseparable from his mental health, and therefore his physical health. And few things affect his economic health more than his education.

The genuine object of debate raised by the [2008 financial] crisis ought to be how to overcome the short-termism to which we have been led by a consumerism intrinsically destructive of all genuine investment in the future, a short-termism which has systematically, and not accidentally, been translated into decomposition of investment into speculation.

Poor kids, through no fault of their own, are less prepared by their families, their schools, and their communities to develop their God-given talents as fully as rich kids. For economic productivity and growth, our country needs as much talent as we can find, and we certainly can’t afford to waste it. The opportunity gap imposes on all of us both real costs and what economists term “opportunity costs.

Leonard Schapiro, writing on Stalinism, warned us that “the true object of propaganda is neither to convince nor even to persuade. But to produce a uniform pattern of public utterances in which the first trace of unorthodox thought reveals itself as a jarring dissonance.

But Empire building also bears the seeds of its own destruction. The closer a state comes to the ultimate goal of world domination and one-world government, the less reason is there to maintain its internal liberalism and do instead what all states are inclined to do anyway, i.e., to crack down and increase their exploitation of whatever productive people are still left. Consequently, with no additional tributaries available and domestic productivity stagnating or falling, the Empire’s internal policies of bread and circuses can no longer be maintained. Economic crisis hits, and an impending economic meltdown will stimulate decentralizing tendencies, separatist and secessionist movements, and lead to the break-up of Empire. We have seen this happen with Great Britain, and we are seeing it now, with the US and its Empire apparently on its last leg.

I believe the crisis started when we started prioritizing redistribution of wealth instead of its creation.

I was reading in the paper today that Congress wants to replace the dollar bill with a coin. They’ve already done it. It’s called a nickel.

General Motors is alive and kicking today, it is because in 2009 President Obama’s administration wrote off 90 percent of its debt.

What is needed is a form of tax which not only spares the small man at the expense of his wealthier rival, but actually subsidizes the small man where subsidy is necessary.

Even if we could grow our way out of the crisis and delay the inevitable and painful reconciliation of virtual and real wealth, there is the question of whether this would be a wise thing to do. Marginal costs of additional growth in rich countries, such as global warming, biodiversity loss and roadways choked with cars, now likely exceed marginal benefits of a little extra consumption. The end result is that promoting further economic growth makes us poorer, not richer.

Brexit promised three hundred and fifty million a week for the NHS, they promised controls on immigration, they promised an end to the housing crisis, to the education crisis, to the economic crisis, to the …” “What I don’t understand is that when the British public voted to name a research vessel Boaty McBoatface, the government said no. But when we voted to commit cultural and economic seppuku, the powers-that-be didn’t seem to have a fucking clue …

The crisis besetting America is not just an economic or political crisis; something deeper is wreaking havoc across the land, a mercenary and utilitarian attitude that demonstrates little empathy for people's actual well-being, that dismisses imagination and thought, branding passion for knowledge as irrelevant.

it may be said unequivocally that whenever anyone is in extremis (whether it is a marital crisis, an economic crisis, a political crisis, or a health crisis), their chances of survival are far greater when their horizons are formed of projected images from their own imagination rather than being limited by what they can actually see.

Funny thing about those Middle Ages,” said Joseph. “They just keep coming back. Mortals keep thinking they’re in Modern Times, you know, they get all this neat technology and pass all these humanitarian laws, and then something happens: there’s an economic crisis, or science makes some discovery people can’t deal with. And boom, people go right back to burning Jews and selling pieces of the true Cross. Don’t you ever make the mistake of thinking that mortals want to live in a golden age. They hate thinking.

The gap between financial capital of US$190 trillion looking for highly profitable investment opportunities and a real economy and social sector without access to the financial capital needed to operate and grow is at the heart of the worldwide economic crisis.

Contemporaneous with the financial crisis we have an ecological crisis and a health crisis. They are intimately interlinked. We cannot convert much more of the earth into money, or much more of our health into money, before the basis of life itself is threatened.

Oh, and 13.1 million American people had their homes foreclosed. Because their debt, it turns out, was real; it was only the debt within the financial sector that was imaginary. It was only the people who generated the crisis who got three magical wishes from an economic genie. There was no abracadabra for ordinary people; they just got abraca-fucked.

Extreme inequality and financial crisis usually coincide. But the elite who cause it usually come out OK. And they are usually man.

We do know that working-class Americans aren’t just less likely to climb the economic ladder, they’re also more likely to fall off even after they’ve reached the top. I imagine that the discomfort they feel at leaving behind much of their identity plays at least a small role in this problem. One way our upper class can promote upward mobility, then, is not only by pushing wise public policies but by opening their hearts and minds to the newcomers who don’t quite belong. Though

all loans, in the eyes of honest borrowers, must eventually he repaid. All credit is debt. Proposals for an increased volume of credit, therefore, are merely another name for proposals for an increased burden of debt. They would seem considerably less inviting if they were habitually referred to by the second name instead of by the first.

There are an estimated 258 million migrants around the world, and many of us are migrating to countries that previously colonized and imperialized us. We have a human right to move, and governments should serve that right, not limit it. The unprecedented movement of people - what some call a "global migration crisis" - is, in reality, a natural progression of history. Yes, we are here because we believe in the promise of the American Dream - the search for a better life, the challenge of dreaming big. But we are also here because you were there - the cost of American imperialism and globalization, the impact of economic policies and political decisions.

Regular crises perpetuate the past by reinvigorating cycles which started long ago. In contrast, (capital-C) Crises are the past's death knell. They function like laboratories in which the future is incubated. They have given us agriculture and the industrial revolution, technology and the labour contract, killer germs and antibiotics. Once they strike, the past ceases to be a reliable predictor of the future and a brave new world is born.

These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas. Wait—Texas? Wasn't Texas supposed to be thriving even as the rest of America suffered? Didn't its governor declare, during his re-election campaign, that 'we have billions in surplus'? Yes, it was, and yes, he did. But reality has now intruded, in the form of a deficit expected to run as high as $25 billion over the next two years. And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting—the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending—has been implemented most completely. If the theory can't make it there, it can't make it anywhere.

It can also be useful to politics, enabling that science to discover how much of it is no more than verbal construction, myth, literary tops. Politics, like literature, must above all know itself and distrust itself. As a final observation, I should like to add that it is impossible today for anyone to feel innocent, if in whatever we do or say we can discover a hidden motive - that of a white man, or a male, or the possessor of a certain income, or a member of a given economic system, or a sufferer from a certain neurosis - this should not induce in us either a universal sense of guilt or an attitude of universal accusation. When we become aware of our disease or of our hidden motives, we have already begun to get the better of them. What matters is the way in which we accept our motives and live through the ensuing crisis. This is the only chance we have of becoming different from the way we are - that is, the only way of starting to invent a new way of being.

Those who seek power at any price detect a societal weakness, a fear that they can ride into office. It could be ethnic differences, as it was then, perhaps different amounts of melanin in the skin; different philosophies or religions; or maybe it’s drug use, violent crime, economic crisis, school prayer, or “desecrating” (literally, making unholy) the flag.

One cannot exclude the possibility of a fascist period in Russia,” Staravoitova said on the radio station Echo of Moscow. “We can see too many parallels between Russia’s current situation and that of Germany after the Versailles Treaty. A great nation is humiliated, and many of its nationals live outside the country’s borders. The disintegration of an empire has taken place at a time when many people still have an imperialist mentality.… All this is happening at a time of economic crisis.

The end of an age is always a time of turmoil, war, economic catastrophe, cynicism, lawlessness and distress. But it is also an era of heightened challenge and creativity, of issues, and their world-wide scope, never has an era faced a more demanding and exciting crisis. This then, above all else, is the great and glorious era to live in, a time of of opportunity, one requiring fresh and vigorous thinking, indeed, a glorious time to be alive.

Study history, Alleluia. In this century history stopped paying attention to the old psychological orientation of reality. I mean, these days, character isn't destiny any more. Economics is destiny. Ideology is destiny. Bombs are destiny. What does a famine, a gas chamber, a grenade care how you lived your life? Crisis comes, death comes, and your pathetic individual self doesn't have a thing to do with it, only to suffer the effects. This Gibreel of yours: maybe he's how history happens to you.

This focus on money and power may do wonders in the marketplace, but it creates a tremendous crisis in our society. People who have spent all day learning how to sell themselves and to manipulate others are in no position to form lasting friendships or intimate relationships... Many Americans hunger for a different kind of society -- one based on principles of caring, ethical and spiritual sensitivity, and communal solidarity. Their need for meaning is just as intense as their need for economic security.

the immersive ugliness of the built environment in the USA is entropy made visible. It indicates not simple carelessness but a vivid drive toward destruction, decay and death: the stage-set of a literal “death trip,” of a society determined to commit suicide. Far from being a mere matter of aesthetics, suburbia represents a compound economic catastrophe, ecological debacle, political nightmare, and spiritual crisis — for a nation of people conditioned to spend their lives in places not worth caring about.

What imperialists actually wanted was expansion of political power without the foundation of the body politic. Imperialist expansion had been touched off by a curious kind of economic crisis, the overproduction of capital and the emergence of "superfluous" money, the result of oversaving, which could no longer find productive investment within national borders. For the first time, investment of power did not pave the way for investment of money, since uncontrollable investments in distant countries threatened to transform large strata of society into gamblers, to change the whole capitalist economy from a system of production to a system of financial speculation, and to replace the profits of production with profits in commissions. The decade immediately before the imperialist era, the seventies of the last century, witnessed an unparalleled increase in swindles, financial scandals, and gambling in the stock market.

It is worse, much worse, than you think. The slowness of climate change is a fairy tale, perhaps as pernicious as the one that says it isn’t happening at all, and comes to us bundled with several others in an anthology of comforting delusions: that global warming is an Arctic saga, unfolding remotely; that it is strictly a matter of sea level and coastlines, not an enveloping crisis sparing no place and leaving no life undeformed; that it is a crisis of the “natural” world, not the human one; that those two are distinct, and that we live today somehow outside or beyond or at the very least defended against nature, not inescapably within and literally overwhelmed by it; that wealth can be a shield against the ravages of warming; that the burning of fossil fuels is the price of continued economic growth; that growth, and the technology it produces, will allow us to engineer our way out of environmental disaster; that there is any analogue to the scale or scope of this threat, in the long span of human history, that might give us confidence in staring it down. None of this is true. But let’s begin with the speed of change. The earth has experienced five mass extinctions before the one we are living through now, each so complete a wiping of the fossil record that it functioned as an evolutionary reset, the planet’s phylogenetic tree first expanding, then collapsing, at intervals, like a lung: 86 percent of all species dead, 450 million years ago; 70 million years later, 75 percent; 125 million years later, 96 percent; 50 million years later, 80 percent; 135 million years after that, 75 percent again. Unless you are a teenager, you probably read in your high school textbooks that these extinctions were the result of asteroids. In fact, all but the one that killed the dinosaurs involved climate change produced by greenhouse gas. The most notorious was 250 million years ago; it began when carbon dioxide warmed the planet by five degrees Celsius, accelerated when that warming triggered the release of methane, another greenhouse gas, and ended with all but a sliver of life on Earth dead. We are currently adding carbon to the atmosphere at a considerably faster rate; by most estimates, at least ten times faster. The rate is one hundred times faster than at any point in human history before the beginning of industrialization. And there is already, right now, fully a third more carbon in the atmosphere than at any point in the last 800,000 years—perhaps in as long as 15 million years. There were no humans then. The oceans were more than a hundred feet higher.

[[ ]] The story goes like this: Earth is captured by a technocapital singularity as renaissance rationalization and oceanic navigation lock into commoditization take-off. Logistically accelerating techno-economic interactivity crumbles social order in auto sophisticating machine runaway. As markets learn to manufacture intelligence, politics modernizes, upgrades paranoia, and tries to get a grip. The body count climbs through a series of globewars. Emergent Planetary Commercium trashes the Holy Roman Empire, the Napoleonic Continental System, the Second and Third Reich, and the Soviet International, cranking-up world disorder through compressing phases. Deregulation and the state arms-race each other into cyberspace. By the time soft-engineering slithers out of its box into yours, human security is lurching into crisis. Cloning, lateral genodata transfer, transversal replication, and cyberotics, flood in amongst a relapse onto bacterial sex. Neo-China arrives from the future. Hypersynthetic drugs click into digital voodoo. Retro-disease. Nanospasm.

The chief causes of the environmental destruction that faces us today are not biological, or the product of individual human choice. They are social and historical, rooted in the productive relations, technological imperatives, and historically conditioned demographic trends that characterize the dominant social system. Hence, what is ignored or downplayed in most proposals to remedy the environmental crisis is the most critical challenge of all: the need to transform the major social bases of environmental degradation, and not simply to tinker with its minor technical bases. As long as prevailing social relations remain unquestioned, those who are concerned about what is happening are left with few visible avenues for environmental action other than purely personal commitments to recycling and green shopping, socially untenable choices between jobs and the environment, or broad appeals to corporations, political policy-makers, and the scientific establishment--the very interests most responsible for the current ecological mess.

University biologists working with infectious viruses have airtight facilities to ensure that the objects of their study do not escape from the laboratory and damage the population at large. Unfortunately, no such safeguards are imposed on economics departments.

The “9/11 truth movement” seemed to reach peak momentum around 2006. Possible factors in the slow-down since then include infiltration, infighting and fatigue. The economic crisis focused concern on existential issues. Elections under the two-party system always force attention to the politically correct middle ground, and the color revolution of the false prophet Obama sapped the energies of many idealists. Regime rotation removed Bush, the target the opposition most loved to hate. With him and his neo-con team went also much of the immediate and obvious relevance of 9/11. Is there still a way forward with 9/11 awareness as a political force? There needs to be, if only because if they can get away with 9/11, they can get away with anything.

If our basic needs were neglected: our need for safety, economic security, loving connection, autonomy, self-realization and meaningful work, our need to feel equal and respected, then poor emotional well-being will be an inevitable result. Materialism was therefore an unhelpful response to various deprivations. A culturally endorsed coping mechanism that ultimately backfired.

As the systems theorist Fritjof Capra points out, humanity's social, political, economic, and environmental plights are all manifestations of a cultural crisis brought about by adherence to outdated conceptual models ... Under the reductionist paradigm, humans' concept of nature devolved from that of living organism to machine, and the predominant value system came to be based on the domination and control of nature rather than respect for and harmony with the natural world.

Britain never regained its naval and economic dominance over the world, and it remains notoriously conflicted (“Brexit”) about its role in Europe. But Britain is still among the world’s six richest nations, is still a parliamentary democracy under a figurehead monarch, is still a world leader in science and technology, and still maintains as its currency the pound sterling rather than the euro

The most enduring lesson of the Cuban missile crisis is that, in a world with nuclear weapons, a classic military victory is an illusion. Communism was not defeated militarily; it was defeated economically, culturally, and ideologically. Khrushchev’s successors were unable to provide their own people with a basic level of material prosperity and spiritual fulfillment. They lost the war of ideas. In the end, as I have argued in Down with Big Brother: The Fall of the Soviet Empire, communism defeated itself.

People aren't pissed just to be pissed. They're mad because a tiny group of crooks on Wall Street built themselves beach houses in the Hamptons through a crude fraud scheme that decimated their retirement funds, caused property values in their neighborhoods to collapse and caused over four million people to be put in foreclosure.

And a young man with every reason to work—a wife-to-be to support and a baby on the way—carelessly tossing aside a good job with excellent health insurance. More troublingly, when it was all over, he thought something had been done to him. There is a lack of agency here—a feeling that you have little control over your life and a willingness to blame everyone but yourself. This is distinct from the larger economic landscape of modern America. It’s

It is an iron rule of history that what looks inevitable in hindsight was far from obvious at the time. Today is no different. Are we out of the global economic crisis, or is the worst still to come? Will China continue growing until it becomes the leading superpower? Will the United States lose its hegemony? Is the upsurge of monotheistic fundamentalism the wave of the future or a local whirlpool of little long-term significance? Are we heading towards ecological disaster or technological paradise? There are good arguments to be made for all of these outcomes, but no way of knowing for sure. In a few decades, people will look back and think that the answers to all of these questions were obvious. It

But the real danger is that liberal environmentalists and feminists will strengthen the right by lending credibility to reactionary arguments. Adopting the argument that population growth causes global warming endorses the strongest argument the right has against the social and economic changes that are really needed to stop climate change and environmental destruction.

This is not to say that immigration and economic pain are irrelevant to the current crisis: clearly they are genuine sources of anger, distress, discomfort, and division. But as a complete explanation for political change—as an explanation for the emergence of whole new classes of political actors—they are insufficient. Something else is going on right now, something that is affecting very different democracies, with very different economics and very different demographics, all over the world.

I watched with incredulity as businessmen ran to the government in every crisis, whining for handouts or protection from the very competition that has made this system so productive. I saw Texas ranchers, hit by drought, demanding government-guaranteed loans; giant milk cooperatives lobbying for higher price supports; major airlines fighting deregulation to preserve their monopoly status; giant companies like Lockheed seeking federal assistance to rescue them from sheer inefficiency; bankers, like David Rockefeller, demanding government bailouts to protect them from their ill-conceived investments; network executives, like William Paley of CBS, fighting to preserve regulatory restrictions and to block the emergence of competitive cable and pay TV. And always, such gentlemen proclaimed their devotion to free enterprise and their opposition to the arbitrary intervention into our economic life by the state. Except, of course, for their own case, which was always unique and which was justified by their immense concern for the public interest.

The Marshall Plan was the ultimate weapon deployed on this economic front. After the war, the German economy was in crisis, threatening to bring down the rest of Western Europe. Meanwhile, so many Germans were drawn to socialism that the U.S. government opted to split Germany into two parts rather than risk losing it all, either to collapse or to the left. In West Germany, the U.S. government used the Marshall Plan to build a capitalist system that was not meant to create fast and easy new markets for Ford and Sears but, rather, to be so successful on its own terms that Europe’s market economy would thrive and socialism would be drained of its appeal.

In America, the materio-economic conditions relate to a societal, multi-group existence in a way never before know in world history. American Negro nationalism can never create its own values, find its revolutionary significance, define its political and economic goals, until Negro intellectuals take up the cudgels against the cultural imperialism practiced in all of its manifold ramifications on the Negro within American culture. But this kind of revolution would have to be predicated on the recognition that the cultural and artistic originality of the American nation is founded, historically, on the ingredients of a black aesthetic and artistic base.

I became convinced that the advanced industrial countries, through international organizations like the International Monetary Fund (IMF), the World Trade Organization (WTO), and the World Bank, were not only not doing all that they could to help these [developing] countries but were sometimes making their life more difficult. IMF programs had clearly worsened the East Asian crisis, and the "shock therapy" they had pushed in the former Soviet Union and its satellites played an important role in the failure of the transition.

You know, Tsitsi, you are so quick to point out that you are not a prostitute. I just want to laugh because you are just falling into rank. You all should spare us your ‘morality’ that lauds ‘women’ over the supposedly lesser ‘whores’ and ‘girls’. That’s how society sees us. That’s how you see us. You want it to be that we are like coal, only to be loved in the dark and tossed like ashes come morning.

The United States is now a bloated military empire on the cusp of steady and irrevocable economic decline. Historically, the danger in such cases is that when the fiscal stability of the empire begins to weaken, the governing elites double down on the very policies of military profligacy that caused the fiscal crisis in the first place. And that appears to be what the people who run America would like to do. This

The final neoliberal fallback is geoengineering, which derives from the core neoliberal doctrine that entrepreneurs, unleashed to exploit acts of creative destruction, will eventually innovate market solutions to address dire economic problems. This is the whiz-bang futuristic science fiction side of neoliberalism, which appeals to male adolescents and Silicon Valley entrepreneurs almost as much as do the novels of Ayn Rand.

The United States thus achieved what no earlier imperial system had put in place: a flexible form of global exploitation that controlled debtor countries by imposing the Washington Consensus via the IMF and World Bank, while the Treasury bill standard obliged the payments-surplus nations of Europe and East Asia to extend forced loans to the U.S. Government. Against dollar-deficit regions the United States continued to apply the classical economic leverage that Europe and Japan were not able to use against it. Debtor economies were forced to impose economic austerity to block their own industrialization and agricultural modernization. Their designated role was to export raw materials and provide low-priced labor whose wages were denominated in depreciating currencies. Against dollar-surplus nations the United States was learning to apply a new, unprecedented form of coercion. It dared the rest of the world to call its bluff and plunge the international economy into monetary crisis. That is what would have happened if creditor nations had not channeled their surplus savings to the United States by buying its Government securities.

As Jeffrey Reiman points out in the Rich Get Richer and the Poor Get Prison, the criminal justice system excuses and ignores crimes of the rich that produce profound social harms while intensely criminalizing the behaviors of the poor and nonwhite, including those behaviors that produce few social harms. When the crimes of the rich are dealt with, it’s generally through administrative controls and civil enforcement rather than aggressive policing, criminal prosecution, and incarceration, which are reserved largely for the poor and nonwhite. No bankers have been jailed for the 2008 financial crisis despite widespread fraud and the looting of the American economy, which resulted in mass unemployment, homelessness, and economic dislocation.

On a personal level, all of us have to come to terms with the fact that, sooner or later, we will die. And yet today no aspect of human existence, not even the ending of it, is immune to the hegemonic pretensions of neoclassical economic thought. Not only the intellectual poverty, but also the emotional poverty, of what it has to say about death give us little reason to believe that it will be able to face up to the fact of its own mortality. 4.

we’ve been redefining what it means to be human. Over the past 60 years, as mechanical processes have replicated behaviors and talents we thought were unique to humans, we’ve had to change our minds about what sets us apart. As we invent more species of AI, we will be forced to surrender more of what is supposedly unique about humans. Each step of surrender—we are not the only mind that can play chess, fly a plane, make music, or invent a mathematical law—will be painful and sad. We’ll spend the next three decades—indeed, perhaps the next century—in a permanent identity crisis, continually asking ourselves what humans are good for. If we aren’t unique toolmakers, or artists, or moral ethicists, then what, if anything, makes us special? In the grandest irony of all, the greatest benefit of an everyday, utilitarian AI will not be increased productivity or an economics of abundance or a new way of doing science—although all those will happen. The greatest benefit of the arrival of artificial intelligence is that AIs will help define humanity. We need AIs to tell us who we are.

We repeat like a religious mantra the unquestioned benefits and power of science, information and economics, without inspecting the structures and methodology on which they are built. Many of these beliefs are insupportable and dangerous. For example, the notion that human beings are so clever that we can use science and technology to escape the restrictions of the natural world is a fantasy that cannot be fulfilled. Yet it underlies much of government’s and industry’s rhetoric and programs.

The real question I am asking here is the one Marcuse asked in the sixties. How does a way of life break down? How does it break down. And Marcuse doesn’t give the pat Marxist answer, which means economically, and we ought to be glad that that pat Marxist answer is false because if a society could be driven to ruin by debt, you know, the way a lot of people said the Russians – the Soviet Union – fell because it was broke. Let’s hope that’s not true [laughs] since we are broke, let’s hope that’s false. As a generalisation, we had better hope it is false. How do they break down? Well, here there is an analogy – for me – between the social and the self under siege, in many ways. In many ways, not in a few, and some of the symptoms we see around us that our own lives are breaking down and the lives of our society is a generalised cynicism and scepticism about everything. I don’t know how to characterise this situation, I find no parallel to it in human history. The scepticism and cynicism about everything is so general, and I think it’s partly due to this thing I call banalisation, and it’s partly due to the refusal and the fear of dealing with complexity. Much easier to be a cynic than to deal with complexity. Better to say everything is bullshit than to try to look into enough things to know where you are. Better to say everything is just… silly, or pointless, than to try to look into systems of this kind of complexity and into situations of the kind of complexity and ambiguity that we have to deal with now.

write these pages, Japan and the U.S. are still practicing widespread selective denial of major problems. Japan currently acknowledges some problems (its large government debt and aging population), and incompletely acknowledges the issue of Japanese women’s role. But Japan still denies other problems: its lack of accepted alternatives to immigration for solving its demographic difficulties; the historical causes of Japan’s tense relations with China and Korea; and denial that Japan’s traditional policy of seeking to grab overseas natural resources rather than to help manage them sustainably is now outdated. The U.S., as I write, is still in widespread denial of our own major problems: political polarization, low voter turnout, obstacles to voter registration, inequality, limited socio-economic mobility, and decreasing government investment in public goods.

No more idiotic could be laid down than to require a people to follow a written rule of government 90 years old, if that rule has been definitely broken in order to preserve the unity of the government and to destroy an economic anachronism. In such a crisis legalists may insist that consistency with precedent is more important than firm and far sighted rebuilding. But, manifestly, it is not. Rule following, legal precedence, and political consistency are not more important than right, justice, and plain common sense.

Thirty years ago [written 2009], over-regulation, over-taxation, mis-regulation, statism, state corporatism, and economic folly, cosiness and regulatory capture, and a crescent ideological enemy without, who were assisted by enemies – both fifth columnists and useful fools – within, had led to a crisis of confidence in the West, and in all lands that – and amongst all peoples, particularly those who were oppressed in their own lands, who – loved and desired liberty. Of course, thirty years ago, Britain had Margaret Thatcher to turn to.

To put it slightly differently, small sovereign nations, like Iceland, have choices to make within the broader constraints created for them by nature and by the rest of humanity. However limited these choices might be, Iceland’s body politic retains absolute authority to hold their elected officials accountable for the decisions they have reached within the nation’s exogenous constraints, and to strike down every piece of legislation that it has decided upon in the past. (...) In this sense, small, powerless Iceland continues to enjoy full sovereignty while the comparatively omnipotent European Union has been stripped of all forms of sovereignty.

In post-modern culture there is a deep hunger to belong. An increasing majority of people feel isolated and marginalised. Experience is haunted by fragmentation. Many of the traditional shelters are in ruins. Society is losing the art of fostering community. Consumerism is now propelling life towards the lonely isolation of individualism. Technology pretends to unite us, yet more often than not all it delivers are simulated images. The “global village” has no roads or neighbours; it is a faceless limbo from which all individuality has been abstracted. Politics seems devoid of the imagination that calls forth vision and ideals; it is becoming ever more synonymous with the functionalism of economic pragmatism. Many of the keepers of the great religious traditions now seem to be frightened functionaries; in a more uniform culture, their management skills would be efficient and successful. In a pluralistic and deeply fragmented culture, they seem unable to converse with the complexities and hungers of our longing. From this perspective, it seems that we are in the midst of a huge crisis of belonging. When the outer cultural shelters are in ruins, we need to explore and reawaken the depths of belonging in the human mind and soul; perhaps, the recognition of the depth of our hunger to belong may gradually assist us in awakening new and unexpected possibilities of community and friendship.

The assumption that economic expansion is driven by consumer demand—more consumers equals more growth—is a fundamental part of the economic theories that underlie the model. In other words, their conclusions are predetermined by their assumptions. What the model actually tries to do is to use neoclassical economic theory to predict how much economic growth will result from various levels of population growth, and then to estimate the emissions growth that would result. Unfortunately, as Yves Smith says about financial economics, any computer model based on mainstream economic theory “rests on a seemingly rigorous foundation and elaborate math, much like astrology.” In short, if your computer model assumes that population growth causes emissions growth, then it will tell you that fewer people will produce fewer emissions. Malthus in, Malthus out.

It is an obvious fact that the banks and big monopolies are now dependent on the state for their survival. As soon as they were in difficulties, the same people who used to insist that the state must play no role in the economy, ran to the government with their hands out, demanding huge sums of money. And the government immediately gave them a blank cheque. Trillions of pounds of public money has been handed over to the banks, totalling some $14 trillion. But the crisis continues to deepen. All that has been achieved in the last four years is to transform what was a black hole in the finances of the banks into a black hole in public finances. In order to save the bankers, everybody is expected to sacrifice, but for the bankers and capitalists no sacrifices are demanded. They pay themselves lavish bonuses with the money of the taxpayer. This is Robin Hood in reverse.

For four decades, since my time as a graduate student, I have been preoccupied by these kinds of stories about the myriad ways in which people depart from the fictional creatures that populate economic models. It has never been my point to say that there is something wrong with people; we are all just human beings—homo sapiens. Rather, the problem is with the model being used by economists, a model that replaces homo sapiens with a fictional creature called homo economicus, which I like to call an Econ for short. Compared to this fictional world of Econs, Humans do a lot of misbehaving, and that means that economic models make a lot of bad predictions, predictions that can have much more serious consequences than upsetting a group of students. Virtually no economists saw the financial crisis of 2007–08 coming,* and worse, many thought that both the crash and its aftermath were things that simply could not happen.

The general economic growth of the quarter of a century that followed World War II not surprisingly created many illusions. In the West, people thought that they had found in Keynesianism the definitive solution to the problem of crises and unemployment. It was thus thought that the world had entered into an era of perpetual prosperity and definitive mastery of the business cycle. In the socialist world, it was also thought that the model formula for even higher growth had been discovered which enabled Khruschev to announce victoriously that by 1980 the USSR would have overtaken the united States "in every domain." In the third world of Africa and Asia, the national liberation movements which had seized political independence, also had a battery of prescriptions which, in a mix of capitalist and socialist recipes, in doses that varied from case to case, would enable these movements to overcome "underdevelopment" in "interdependence.

This morally blinkered way of conceiving merit and the public good has weakened democratic societies in several ways. The first is the most obvious: Over the past four decades, meritocratic elites have not governed very well. The elites who governed the United States from 1940 to 1980 were far more successful. They won World War II, helped rebuild Europe and Japan, strengthened the welfare state, dismantled segregation, and presided over four decades of economic growth that flowed to rich and poor alike. By contrast, the elites who have governed since have brought us four decades of stagnant wages for most workers, inequalities of income and wealth not seen since the 1920s, the Iraq War, a nineteen-year, inconclusive war in Afghanistan, financial deregulation, the financial crisis of 2008, a decaying infrastructure, the highest incarceration rate in the world, and a system of campaign finance and gerrymandered congressional districts that makes a mockery of democracy.

There have been ample opportunities since 1945 to show that material superiority in war is not enough if the will to fight is lacking. In Algeria, Vietnam and Afghanistan the balance of economic and military strength lay overwhelmingly on the side of France, the United States, and the Soviet Union, but the will to win was slowly eroded. Troops became demoralised and brutalised. Even a political solution was abandoned. In all three cases the greater power withdrew. The Second World War was an altogether different conflict, but the will to win was every bit as important - indeed it was more so. The contest was popularly perceived to be about issues of life and death of whole communities rather than for their fighting forces alone. They were issues, wrote one American observer in 1939, 'worth dying for'. If, he continued, 'the will-to-destruction triumphs, our resolution to preserve civilisation must become more implacable...our courage must mount'. Words like 'will' and 'courage' are difficult for historians to use as instruments of cold analysis. They cannot be quantified; they are elusive of definition; they are products of a moral language that is regarded sceptically today, even tainted by its association with fascist rhetoric. German and Japanese leaders believed that the spiritual strength of their soldiers and workers in some indefinable way compensate for their technical inferiority. When asked after the war why Japan lost, one senior naval officer replied that the Japanese 'were short on spirit, the military spirit was weak...' and put this explanation ahead of any material cause. Within Germany, belief that spiritual strength or willpower was worth more than generous supplies of weapons was not confined to Hitler by any means, though it was certainly a central element in the way he looked at the world. The irony was that Hitler's ambition to impose his will on others did perhaps more than anything to ensure that his enemies' will to win burned brighter still. The Allies were united by nothing so much as a fundamental desire to smash Hitlerism and Japanese militarism and to use any weapon to achieve it. The primal drive for victory at all costs nourished Allied fighting power and assuaged the thirst for vengeance. They fought not only because the sum of their resources added up to victory, but because they wanted to win and were certain that their cause was just. The Allies won the Second World War because they turned their economic strength into effective fighting power, and turned the moral energies of their people into an effective will to win. The mobilisation of national resources in this broad sense never worked perfectly, but worked well enough to prevail. Materially rich, but divided, demoralised, and poorly led, the Allied coalition would have lost the war, however exaggerated Axis ambitions, however flawed their moral outlook. The war made exceptional demands on the Allied peoples. Half a century later the level of cruelty, destruction and sacrifice that it engendered is hard to comprehend, let alone recapture. Fifty years of security and prosperity have opened up a gulf between our own age and the age of crisis and violence that propelled the world into war. Though from today's perspective Allied victory might seem somehow inevitable, the conflict was poised on a knife-edge in the middle years of the war. This period must surely rank as the most significant turning point in the history of the modern age.

Honesty requires that we each recognize the need to limit procreation, consumption, and waste, but equally we must radically reduce our expectations that machines will do our work for us or that therapists can make us learned or healthy. The only solution to the environmental crisis is the shared insight of people that they would be happier if they could work together and care for each other. Such an inversion of the current world view requires intellectual courage for it exposes us to the unenlightened yet painful criticism of being not only anti-people and against economic progress, but equally against liberal education and scientific and technological advance. We must face the fact that the imbalance between man and the environment is just one of several mutually reinforcing stresses, each distorting the balance of life in a different dimension. In this view, overpopulation is the result of a distortion in the balance of learning, dependence on affluence is the result of a radical monopoly of institutional over personal values, and faulty technology is inexorably consequent upon a transformation of means into ends

The most important lesson to take from all this is that there is no way to confront the climate crisis as a technocratic problem, in isolation. It must be seen in the context of austerity and privatization, of colonialism and militarism, and of the various systems of othering needed to sustain them all. The connections and intersections between them are glaring, and yet so often, resistance to them is highly compartmentalized. The anti-austerity people rarely talk about climate change; the climate change people rarely talk about war or occupation. Too many of us fail to make the connection between the guns that take black lives on the streets of US cities and in police custody and the much larger forces that annihilate so many black lives on arid land and in precarious boats around the world. Overcoming these disconnections, strengthening the threads tying together our various issues and movements, is, I would argue, the most pressing task of anyone concerned with social and economic justice. It is the only way to build a counterpower sufficiently robust to win against the forces protecting the highly profitable but increasingly untenable status quo.

Female prophecy must be situated in the crisis of reproduction in the middle of the seventeenth century. This was the peak period for the criminalization of women in England and throughout Europe, as prosecutions for infanticide, abortion, and witchcraft reached their highest rate. It was also the period in which men began to wrest control of reproduction from women (male midwives appeared in 1625 and forceps soon thereafter); previously, "childbirth and the lying-in period were a kind of ritual collectively staged and controlled by women, from which men were usually excluded." Since the ruling class had begun to recognize its interest in increased fecundity, "attention was focussed on the 'population' as fundamental category for economic and political analysis." The simultaneous births of modern obstetrics and modern demography were responses to this crisis. Both, like the witchcraft prosecutions, sought to rationalize social reproduction in a capitalist context - that is, as the breeding of labor power. A recurring motif in the ruling-class imagination was intercourse between the English witch and the "black man" - a devil or imp. The terror was not limited to an imaginary chamber of horrors; it was an actuality of counterevolution.

In the same vein, the problem in economic life is supposedly greed, both outside ourselves in the form of all those greedy people and within ourselves in the form of our own greedy tendencies. We like to imagine that we ourselves are not so greedy—maybe we have greedy impulses, but we keep them under control. Unlike some people! Some people don’t keep their greed in check. They are lacking in something fundamental that you and I have, some basic decency, basic goodness. They are, in a word, Bad. If they can’t learn to restrain their desires, to make do with less, then we’ll have to force them to. Clearly, the paradigm of greed is rife with judgment of others, and with self-judgment as well. Our self-righteous anger and hatred of the greedy harbor the secret fear that we are no better than they are. It is the hypocrite who is the most zealous in the persecution of evil. Externalizing the enemy gives expression to unresolved feelings of anger. In a way, this is a necessity: the consequences of keeping them bottled up or directed inward are horrific. But there came a time in my life when I was through hating, through with the war against the self, through with the struggle to be good, and through with the pretense that I was any better than anyone else. I believe humanity, collectively, is nearing such a time as well. Ultimately, greed is a red herring, itself a symptom and not a cause of a deeper problem. To blame greed and to fight it by intensifying the program of self-control is to intensify the war against the self, which is just another expression of the war against nature and the war against the other that lies at the base of the present crisis of civilization.

She was theorizing on the Deep State; that enduring Turkish paranoia that the nation really was a conspiracy run by a cabal of generals, judges, industrialists and gangsters. The Taksim Square massacre of three years before, the Kahramanmaraş slaughter of Alevis a few months after, the oil crisis and the enduring economic instability, even the ubiquity of the Grey Wolves nationalist youth movement handing out their patriotic leaflets and defiling Greek Churches: all were links in an accelerating chain of events running through the fingers of the Derin Devlet. To what end? the men asked. Coup, she said, leaning forward, her fingers pursed. It was then that Georgios Ferentinou adored her. The classic profile, the strength of her jaw and fine cheekbones. The way she shook her head when the men disagreed with her, how her bobbed, curling hair swayed. The way she would not argue but set her lips and stared, as if their stupidity was a stubborn offence against nature. Her animation in argument balanced against her marvellous stillness when listening, considering, drawing up a new answer. How she paused, feeling the regard of another, then turned to Georgios and smiled. In the late summer of 1980 Georgios Ferentinou fell in love with Ariana Sinanidis by Meryem Nasi’s swimming pool. Three days later, on September 12th, Chief of General Staff Kenan Evren overthrew the government and banned all political activity.