Capitalism creates CRISIS!

Course Blog for Soc 3151: Social Issues and Social Policy at Baruch College

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Archive for April, 2009

Examples of Capitalist exploitation in Romania…

As we have talked about in class many times before, capitalists in a capitalist country try their hardest to squeeze what they can out of their workers as they are the ones who turn supplies into goods.Their exploitation is one of the single worst aspects of capitalism and in Romania some foreign workers finally took [...]

“The Commodification of Wisdom”

This is an academic article i read while doing research for my paper, which deals with the commodification of education, and how education today has been increasingly standardized similar to other commodities in economic markets. Author Mary Kupiec Cayton, shows how education has essentially entered the global market and has been standardized to a point where [...]

Profesional Athletes Cheating the Game They Love

I just read the article Risk, Reward, Steroids Inside a Tempting World of Easy Steroids by Michael S. Schmidt on NewYorkTimes.com it explained that over the past decade the use of performance enhancing drugs has become known to the public.  This illegal practice has been going on inside major league baseball for longer than any fan [...]

Jobs and health care

I read the radical perspectives article called ” When a Job Dissapears, so does the Health care”. It gave an overview of the unfortunate unemployment situation in the U.S and the jobless numbers ever increasing.  The main point of the article was that not only are people losing jobs but they’re losing their health benefits [...]

Pharma Corruption

I have just read, Dean Baker: How to End Corruption in the Drug Industry by Yves Smith, an article from Naked Capitalism.  The article raises many of the big issues within the Pharma market, particularly within research.  It then suggest some solutions that arguably can fix this corruption.  Overall, the problems it sites are rather [...]

Consumers are thinking twice about using their credit cards

This article is from http://www.nakedcapitalism.com and it is about American Express credit card.
American Express (AXP) reported 1st quarter earnings after the close Thursday and from the behavior of the stock, you’d think it suggested a major turnaround and economic recovery.
The stock was up 20% on very strong volume. The stock is now up 150% from it’s [...]

Musings on Structural Challenges to the Financial System

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I read my article from Naked [...]

Crisis in China

“Crisis in China” by John Clegg, discusses the past crisis, present crisis and the possible future crisis of China. Over the past 20 years, China has been significantly industrializing. China was the “go to” spot for many capitalists looking to increase their profits. And because of that, it brought millions of migrant workers from the [...]

On Good and Bad Financial Innovation

 People tend to generally assume that the word innovation always carries a positive connotation. While for the most part they may be right, this isn’t always the case. Innovation has the ability to fuel prosperity, but unfortunately it sometimes comes at the expense of the common man. The concept follows that of the distribution of [...]

How China Deals with Crisis

Since U.S has accepted the new president, the nation have had hope that he would be the one who brings this financial crisis to the end, however, issues that this world faces is more complicated than ever. The International Labour Organization (ILO), stated that twenty million more people will be out of employment by the [...]

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RSS Naked Capitalism

  • Links 11/7/09 November 7, 2009
    Three bald bears perplex experts BBC Antidepressants and Violence EconoSpeak. One of my pet peeves is how psychoactive medications are handed out like candy in the US. Just go to your MD, say you are exhausted, and once they eliminate anemia, chronic fatigue syndrome, and low thryoid, they assume it’s in your head and will offer [...] […]
  • Einhorn: First, Let’s Kill All the Credit Default Swaps November 7, 2009
    David Einhorn, who enjoys his considerable reputation for hard-fought battles against firms with shaky finances and dubious accounting (Alliance Capital and Lehman), has taken aim at a new and equally deserving target: credit default swaps. In an interesting bit of synchronicity, Einhorn’s comments in a letter to investors overlap to a considerable degree w […]
  • Guest Post: Investor Psychology … Fear Turns People Into Sheep November 6, 2009
    By George Washington of Washington’s Blog. Investors are basically rational, right? In fact, as many studies have demonstrated, the answer is no. But instead of wading through all of the investment psychology research, let’s look at research into people’s basic reasoning abilities. Bear with me for a minute. A study in an area unrelated to investing sheds li […]
  • The less optimistic view of Treasury’s handling of the crisis November 6, 2009
    By Edward Harrison of Credit Writedowns The Obama Administration is captured. To understand why it has acted as it has, one doesn’t have to take the view that its efforts to save the banking industry were a deliberate attempt to line bankers’ pockets by transferring money from taxpayers to the banking industry. One need merely read [...] […]
  • Links 11/6/09 November 6, 2009
    Newborn Babies Cry in Native Tongue Live Science (hat tip reader John D) Understanding long term chronic pain symptoms from minor motor vehicle accidents RFK Action Front, This is intriguing. Second Life creates virtual world for businesses Raw Story (hat tip reader John D) Fannie Mae’s results – oh, and what if Bank of America reported the [...] […]

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RSS Naked Capitalism

  • Links 11/7/09 November 7, 2009
    Three bald bears perplex experts BBC Antidepressants and Violence EconoSpeak. One of my pet peeves is how psychoactive medications are handed out like candy in the US. Just go to your MD, say you are exhausted, and once they eliminate anemia, chronic fatigue syndrome, and low thryoid, they assume it’s in your head and will offer [...] […]
    Yves Smith
  • Einhorn: First, Let’s Kill All the Credit Default Swaps November 7, 2009
    David Einhorn, who enjoys his considerable reputation for hard-fought battles against firms with shaky finances and dubious accounting (Alliance Capital and Lehman), has taken aim at a new and equally deserving target: credit default swaps. In an interesting bit of synchronicity, Einhorn’s comments in a letter to investors overlap to a considerable degree w […]
    Yves Smith
  • Guest Post: Investor Psychology … Fear Turns People Into Sheep November 6, 2009
    By George Washington of Washington’s Blog. Investors are basically rational, right? In fact, as many studies have demonstrated, the answer is no. But instead of wading through all of the investment psychology research, let’s look at research into people’s basic reasoning abilities. Bear with me for a minute. A study in an area unrelated to investing sheds li […]
    George Washington
  • The less optimistic view of Treasury’s handling of the crisis November 6, 2009
    By Edward Harrison of Credit Writedowns The Obama Administration is captured. To understand why it has acted as it has, one doesn’t have to take the view that its efforts to save the banking industry were a deliberate attempt to line bankers’ pockets by transferring money from taxpayers to the banking industry. One need merely read [...] […]
    Edward Harrison
  • Links 11/6/09 November 6, 2009
    Newborn Babies Cry in Native Tongue Live Science (hat tip reader John D) Understanding long term chronic pain symptoms from minor motor vehicle accidents RFK Action Front, This is intriguing. Second Life creates virtual world for businesses Raw Story (hat tip reader John D) Fannie Mae’s results – oh, and what if Bank of America reported the [...] […]
    Yves Smith