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• The economic crisis and the future of capitalism

  Compiled by Cy Gonick | April 6th 2009 | Economic Crisis

  Four themes dominated the web this past month.

  1. How deep this recession is;
  2. Obama’s bailout of AIG and the other financial giants of Wall Street and his bailout and restructuring plans for the automobile industry;
  3. The G20 meetings in London and the future of globalization and American leadership of world capitalism;
  4. the causes of the economic crisis and the return of Keynesian economics and its chances for success.

  The critics represented here range from liberal left like Joseph Stiglitz, Paul Krugman, Robert Scheer to Marxist left like Leo Panitch, John Foster, David Harvey and James Petras.

  How deep this recession is

  • “It’s going to be bad, very bad” by Joseph Stiglitz,
  • A big bear: Markets ‘way too optimistic’, interview with Nouriel Roubini
  • Official Unemployment Numbers Grim by Dollars and Sense
  • Girding for a Depression by Peter Morici

  Obama’s bailouts

  • What if the Obama Administration Treated Detroit like Wall Street? By Robert Weissman
  • In for a Penny, In for $2.98 Trillion by Robert Scheer
  • Restructure the Big 3, but Not with Bankruptcy by Mark Brenner, Mischa Gaus, Jane Slaughter
  • In Defense of Washington and Wall Street by Robert Fitch
  • Working at Goldman-Sachs by Louis Proyect
  • The Dance of the Trillions to Shore up Banks, Bankers and Gamblers by Rodrigue Tremblay
  • The Big Takeover by Matt Taibbi
  • Those poor, persecuted rich people by Linda McQuaig
  • Bait and Switch: The Real AIG Conspiracy by Michael Hudson
  • The Real AIG Scandal by Elliot Spitzer
  • Is the Bail Out Breeding a Bigger Crisis? by Paul Craig Roberts
  • Good Money After Bad: Billions More for Failed Banks by Dean Baker

  The G20 Meeting and the Future of American Leadership

  • U-20: Will the Global Economy Resurface? by Walden Bello
  • Can G20 avert the crisis? by Leo Panitch
  • A G20 Meeting for Naught by Eric Toussaint and Damien Millet
  • Does US Face G20 Mutiny? by Michael Hudson
  • The Financial Crisis and American Power: An Interview with Leo Panitich, The Bullet

  Causes, the Return of Keynes, and Chances for Success

  • From Global Finance to the Nationalization of the Banks: Eight Theses on the Economic Crisis by Leo Panitch and Sam Gindin
  • If We Are in the Death Spiral of Capitalism, Can We Start Using the “S” Word? by Barbara Ehrenreich and Bill Fletcher, Jr.
  • Despair over financial policy by Paul Krugman
  • World Depression: Regional Wars and the Decline of the US Empire by James Petras
  • The Return of Mr. Keynes by Cy Gonick
  • Keynes, Capitalism, and the Crisis, John Bellamy Foster Interviewed by Brian Ashley
  • The Crisis and the Consolidation of Class Power: Is This Really the End of Neoliberalism? by David Harvey
  • Obama’s Ersatz Capitalism by Joseph Stiglitz    
  • Noam Chomsky on the economy and democracy: Part 1, Part 2, Part 3, Part 4. Real News
  • Fiscal Plan Fails both Markets and Taxpayers by Joseph E. Stiglitz
  • The Poverty of Monetarism: Too Big to Fail? by Arno J. Mayer
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