Obama has not just backpedaled from his campaign commitments to renegotiate the North American Free Trade Agreement (NAFTA). He has ended up expanding the accord which will remove even more checks and balances on the exchange of capital, services, and goods.
Obama's Cairo speech shifted the discourse, away from justifying reckless imperial hubris, unilateralism and militarism and towards a more cooperative and potentially even internationalist approach. It is the task of people across the US to mobilise and turn that new language into new policies.
"The banks are ours!" Public money was used to bail out the banks, and now they are lending back to the public at interest, while governments ignore the social and environmental crises that confront society. It is time to demand real solutions that will work not only for the sake of the economy but for the lives and conditions of people on whom it depends.
It wasn’t the events of September 11th that changed the world, but the events of September 12th and beyond, when the Bush administration took the world to war in response; that changed the world, and continues to threaten U.S. and global security, and shred U.S. democracy.
This paper examines global inequalities and the future of capitalism and socialism through an investigation of the oligarchic wealth on which the current global order is based and also looks at growing challenges to these social foundations of the present global system.