Maximizing Risk and Uncertainty in a Changing World

Notes on Volatility in Cultures of Finance

One of the most remarkable contemporary developments has been the rise of what might be called a “politics of volatility” in which volatility is deliberately produced to take advantage of the uncertainty it creates. Its current embodiment is Donald Trump. Like the efficient market that he embraces, in the primaries, ...
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Maximizing Risk and Uncertainty in a Changing World

Erik Olin Wright & Class Today

------ What if we tried a thought experiment? Just for shits and giggles? The thought experiment runs as follows: What if this was no longer capitalism, but something worse? Could we start by describing relations of exploitation and domination in the present, starting with the newest features, and work back and ...
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Erik Olin Wright & Class Today

Minding the Gap of “The Great Divide”

A review of the book by Joseph Stiglitz

In the wake of Occupy Wall Street and the anti-austerity protests in Spain, Greece, and elsewhere around the world, economic inequality has emerged as one of the more hotly debated issues in the public sphere. One of the more prominent voices in the discussion is economist <a href="http://en.wikipedia.org/wiki/Joseph_Stiglitz" target="_blank" ...

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America as a Lottery

In a series of recent works on the rise of inequality in the United States and other countries, economists have proposed a number of policies that might help reverse current trends. But critics of Joseph Stiglitz, Paul Krugman and Thomas Piketty also often complain that their proposals aren’t feasible ...

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America as a Lottery

How Capitalism Will End

The need to organize the economic life of humanity better than capitalism does is well established. Capitalism -- by which I mean the buying and selling of labor power -- breeds inequality, as Karl Marx showed and as Thomas Piketty has just re-demonstrated. Capitalism subordinates collective needs, such as our ...
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