Word: capitalisme
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That is no joke. The collapse of the ruble has triggered an urgent debate over how to stabilize the currency. Without sound money, experts say, the drive to bring capitalism to the former Soviet republics could come to a halt. "For people to have a currency that is valueless gives...
What, then, would a Polish pessimist predict? About what is expected by gloomy counterparts in Hungary, Czechoslovakia and the other Soviet satellites that broke free of communism in 1989. Standards of living will drop so low and for so long that the populace may rebel, not just against capitalism and...
And the "civil looting"? Surprise. Three days of riots gutted Panama City's small shops, destroying cockroach capitalism for the forseeable future and turning this stable if corrupt country into a nation quickly on its way to hard-core deprivation. The U.S. forces did not have orders to intervene to...
Few at Harvard seem to realize, however, the primary reasons why poverty occurs. Every so often, Marxist exploitation theory, in diluted or concentrated form, pops up as an explanation. Exploitation occurs, of course. But exploitation theory fails to explain why workers who should have continued to grow poorer with the...
So while our military adventures prime the symbolic pump at home, they prime the economic pump abroad, allowing capitalism to continue to reign and the oil to flow freely. At home, of course, Americans see very little economic benefit from the war, but we were feeling so damn proud of...