The free market guru Milton Friedman understood what so many progressives do not: that crises create opportunities for radical change. From low-wage workers, to local entrepreneurs, from independent
thinking elected officials to the global networks that brought you the
Battle in Seattle a decade ago, there's a new questioning of the Wall
"The financial crisis" is one facet of the systemic and converging crises of capitalism - a predictable symptom of oligopolistic late capitalism; but what main challenges lie ahead for the Left in South Africa?
Three years since the outbreak of the global financial crisis, the banks are back making mega-profits while the burden has clearly shifted to citizens and workers. However civil society action at European level could still make a difference in reining in the financial sector.
John Cavanagh, Sarah Anderson, Chuck Collins, Sam Pizzigati
26 September 2008
Congress should use the proposed bailout legislation for much-needed reform ' in particular the need to start confronting the top-heavy distribution of American income and wealth that has fueled this Wall Street meltdown in the first place.
The occupy movement has achieved an incredible and much-needed shake-up of a long-standing political stasis in the US and elsewhere, but it is crucial now to highlight the connection between failed foreign policy, bloated military spending and illegal wars, and the economic crisis at home.