Tag Archives: undermines

Capitalism Becomes Questionable – by Richard D. Wolff

The depth and length of the global crisis are now clear to millions. In the sixth year since it started in late 2007, no end is in sight. Unemployment rates are now less than halfway back from their recession peak to where they were in 2007. Over 20 million are without work, millions more limited to part-time work, millions have been foreclosed out of their homes. Those who retain jobs suffer declining real wages, fewer benefits, reduced job security, and more work. This year of “austerity” began with an increase in the payroll tax rate for over 150 million wage-and-salary earners from 4.2 to 6.2 per cent (a 48% increase from 2012) — a far more significant tax event than the trivial — but wildly hyped — increase of taxes on those earning over $450,000 annually from 35 to 39.6 per cent (a 13% increase from 2012). Austerity deepens as Republicans and Democrats negotiate merely details of their agreements to cut government spending on social programs helping working people.

Between the crisis and today’s austerity policies lie the bailouts — a bought government’s program to aid mega-finance and other large corporations with unlimited funds unmatched by anything comparable for the mass of working people and smaller businesses. The bailouts worked for them, for the large corporations who secured them for themselves. For that reason, “recovery” blessed them while it bypassed everyone else. Now austerity policies shift onto the general population major portions of the costs of the crisis and the bailouts. The situation is so bad and US government complicity with capitalists at the people’s expense so exposed that the capitalist system is becoming questionable. Criticism challenges the last half-century’s treatment of capitalism as the absolutely best possible economic system, beyond any need for discussion or debate, justifiably implanted around the world by military force, etc.

First of all, this deep and long crisis undermines decades of confident assurances and predictions that another deep capitalist depression was no longer likely or even possible. Capitalism’s inherent instability overwhelmed and thus proved the futility of efforts to prevent its crises. Moreover, both conventional and extraordinary monetary and fiscal policies failed repeatedly to bring Europe, Japan, and the US out of the crisis. Central banks, international agencies, and national executives charged with economic responsibilities have, since 2007, spoken with assurance and met often, posed for media photos, puffed and threatened, made a few last-minute, stop-gap agreements, resolved to meet again and do more at the next meeting. However, the crisis continued for most people. In many places it has gotten much worse. All this challenges glib notions that capitalism’s highest authorities have the system “under control.”

Implicitly, at first, millions of people began to question whether capitalism does still “deliver the goods” as its defenders so long insisted. In the US, declining economic conditions for parents coupled with rising school debts and declining job prospects for their children suggest rather that capitalism “delivers the bads.” The widening inequalities of wealth and income that contributed to the crisis have in turn been further aggravated by it.

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The Ottoman empire’s secular history undermines sharia claims

A new paper shows 18th- and 19th-century Ottoman rulers decriminalised homosexuality and promoted women’s education

by Tehmina Kazi

Hardline Muslim groups often portray the Ottoman empire as a magic template for a global caliphate. This is then used as a springboard for grandiose arguments that paint a caliphate as viable, and deem it as the only credible model of governance for the future. These arguments are based on a belief that the empire adhered to a single interpretation of sharia (Islamic law) for over 600 years, and – crucially – that its success was contingent on this.

But a paper by Ishtiaq Hussain, published by Faith Matters on Saturday displays a very different picture. Ottoman sultans, or caliphs, in the 18th and 19th centuries launched secular schools and promoted the education of women. The period of reformation known as the Tanzimat saw customary and religious laws being replaced in favour of secular European ones. More surprisingly, homosexuality was decriminalised in 1858 (long before many western states took their cue, and over a century before the American Psychiatric Association declassified it as a mental illness in 1973). Contrary to the claims of hardline groups, religious authorities approved many of these measures.

In terms of broader social change, the Ottomans made strong attempts to integrate non-Muslim communities. On the cultural front, it is well known that a minority of people claim that Islam frowns upon artistic expression. However, the last sultan/caliph, Abdulmecid Efendi (1922-1924) has numerous paintings on display in Istanbul’s new museum of modern art; many others were also keen musicians and played a variety of musical instruments. It is therefore clear that the sultan/caliphs enunciated a progressive vision for a secular Muslim society, many years before al-Qaida and similar groups came into existence.

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Who Will Bell The Intelligence Agencies In Pakistan?

Presidential Spokesperson, Farhatullah Babar says that apparently no law exists to hold intelligence agencies accountable in Pakistan and parliament should draft such laws. This depicts a very sorry state of affairs and seriously undermines the concept of across the board accountability of all institutions in a democratic dispensation. In this episode of Reporter, Arshad Sharif tries to find out how and who will bring the intelligence agencies of the country under rule of law.

Courtesy: DAWN News (Program “Reporter” with Arshad Sharif) – You Tube