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In ET’s daily news, these three posts caught my eye. Are they somehow linked, do you think?
Op-Ed: The Free-Trade Regime: Oligarchy in Action
WASHINGTON (IPS) May 17, 2014 – The United States is not really a democracy. That’s the (simplified) conclusion of a recent study from Princeton University. Instead, economic elites and special interest groups enjoy tremendous sway in Washington, while “the preferences of the average American appear to have only a minuscule, near-zero, statistically non-significant impact upon public policy.”
Indeed, the institutions of democracy and sovereignty exist in tension with another powerful institution: the global market and its free trade regimes.
In one sense, the free-market system sustains democracy. It generates wealth and tempers the centralisation of power — two preconditions for democracy. But in another sense, global free-market capitalism conflicts with popular self-governance.
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How aggregate income has changed since 1967 (Business Insider)This is particularly true for the “neoliberal” variety of capitalism, which has been on the rise since the 1980s. It one-sidedly promotes the principles of global deregulation, liberalisation, privatisation, and the rollback of the welfare state — all of which increase inequality and redistribute economic and political power to corporations and wealthy individuals.
One of the most vivid recent examples of the conflict among democracy, sovereignty, and global capitalism is the Trans-Pacific Partnership (TPP) — the so-called “free-trade” agreement among 12 states bordering the Pacific Ocean. They include the United States, Chile, Vietnam, Malaysia, and Japan, among others.
According to U.S. president Barack Obama, who strongly supports the agreement, “the TPP will boost our economies, lowering barriers to trade and investment, increasing exports, and creating more jobs for our people.”
In sharp contrast to the president’s enthusiastic endorsement, however, many critics view the TPP as deceptive and dangerous. Lori Wallach of Public Citizen has called the agreement a “Trojan horse” — a trap disguised as a gift, which will in reality serve the interests of few multinational corporations and the executive branch rather than the public at large.
Great comment from TPP thread Warren told on Capitol Hill:
TPP needs to be secret; else the Public would oppose it.
There must be a reason these talks involving representatives from governments and multinational corporations hold these talks in secret in public buildings.
I mean, seriously, what possible interest would private citizens have in issues that concern public policy being negotiated by duly appointed representatives of public government and public corporations?
WTF? Can’t these private citizens just mind their own business and stick to their knitting in front of the TV or something?
No one is coming to save us, the future is in our hands.
Wealth of Britain’s richest 1,000 people hits new high of £519bn | Business | theguardian.com
(Guardian) – The combined fortune of Britain’s richest 1,000 people has hit a new high of £519bn – equivalent to a third of the nation’s economic output, and double the figure of five years ago.
The worth of Britain’s rich elite is up 15.4% from last year’s total of £450bn, according to the Sunday Times Rich List.
Philip Beresford, who compiled the rankings, said: “I’ve never seen such a phenomenal rise in personal wealth as the growth in the fortunes of Britain’s 1,000 richest people over the past year. The richest people in Britain have had an astonishing year.”
The wealth of the top 1,000 has doubled since the financial crisis, rising from £258bn in 2009. Labour warned that the government was presiding over a widening equality gap.
TTIP, The Secret Trade Agreement About to Complete the Corporate Takeover of Democracy
The Trans Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) enshrine the rights of Corporations under International Law, restricting future governments from overturning the changes through fear of costly legal action. They are the largest trade agreements in history, and yet are not open for review, debate or amendment by national parliaments or the public.
- ○ Leaks Reveal Truth Behind the Secretive Trans-Pacific Partnership (TPP) Deal
○ TTIP Treaty to be Signed – Super NAFTA Undermines Democracy
○ Robert Reich: 10 ways to close the inequality gap
Diary @ET by Democrats Ramshield – Total capitalism is America’s true ruler, and it has the power to destroy the country!