Posts Tagged ‘Free Market Capitalism’

Free Market Economics

December 31, 2020

            “In our culture the concept of the market is akin to religion. In fact, for many people the fantasy that their life is shaped by a market is a substitute for thinking that it was shaped by a deity, or else the market itself is understood as a deity.” “A market is a way for people to distribute resources and goods. That’s all it is. The human race for most of its history has not used markets to do that. When I say distribute resources, I mean land. Who’s going to get what piece of land to cultivate?” (Richard Wolff from Occupy the economy: challenging capitalism by Richard Wolff; interviews with David Barsamian) 12-30-20 Henry Fountain writing for the New York Times headlines: Sale of Arctic Drilling Leases Draws an Unusual Taker. It May Be the Only One. “After a three-year push by the Trump administration to open the Arctic National Wildlife Refuge in Alaska to oil drilling — an effort that culminated in a rush to sell leases before the White House changes hands — in the end the only taker may be the state of Alaska itself. With a Thursday deadline [12-31-20] for submitting bids for 10-year leases on tracts covering more than 1 million acres of the refuge, there is little indication that oil companies are interested in buying the rights to drill under difficult conditions, to extract more costly fossil fuels for a world that increasingly is seeking to wean itself off them. Amid the uncertainty, a state-owned economic development corporation voted last week to authorize bidding up to $20 million for some of the leases.” In Ohio, JobsOhio is “a state-owned economic development corporation”. In Licking County it would be Grow Licking County. And in Licking County’s seat of government, Newark, it would be Newark Development Partners. You can throw the Port Authority in there too as it likewise is an “economic development corporation” and covers a multitude of “governments.” The gist of Fountain’s article, you ask? “But if the development authority proceeds, it sets up the possibility that when the sealed bids are opened on Jan. 6, the state may find itself the sole owner of leases.” “He [Frank Murkowski, Lisa’s dad] also pointed out that because leasing revenue is split equally between the federal and state governments, if its bids were successful the state would be getting a unique deal. “You’re going to get half your money back,” he told the authority’s board. Only the state, he added, “can buy at a 50% discount.”” “In the [2017] tax bill, the sales were presented as a way to raise $900 million over 10 years for the federal treasury to help offset more than $1 trillion in tax cuts. But that figure has long been questioned by outside experts. An analysis last year by The New York Times suggested the actual amount would be about $45 million.” “The group [Taxpayers for Common Sense] said its most recent estimate showed that the federal treasury could receive as little as $15 million from the lease sales.” Where’s the market in all this? Indeed, where’s the market in the various tax abatements, credits and infrastructure enhancements offered by JobsOhio, Grow Licking County and the Port Authority in their offerings to secure corporate “investment” in Etna, Pataskala and the Rt 79 corridor? It certainly is about “Who’s going to get what piece of land to cultivate”. And what about Newark Development Partners purchase  and projected multi-million dollar “development” of the Newark Arcade being totally contingent on receiving government funded “historic tax credits” while the low barrier shelter “projected” by these same folks goes nowhere? “A market is a way for people to distribute resources and goods. That’s all it is.” Free and equitable, it’s not.

And The Creep Goes On

April 12, 2020

Man-made climate change is not news. The scientific community has been studying it and notifying the world about it for nearly a half century. Geologists label the current era as the Anthropocene to designate the effects of man on the environment. Geologists talk in terms of large periods of time, with sudden occurrence evidencing change being rare (volcano, meteorite strike, etc.). The change within “climate change” is slow and, for the most part, barely noticeable. Referencing historic records, natural records (ice cores, etc.), and statistical data makes the change jump out and allow for projections. Analogous change takes place when a democracy slides into authoritarianism though there are no records or statistical data to reveal the movement. Any history is always the history of current time being made (news). The change taking place is likewise so slow as to be barely noticeable. In the US the current national conversation on mail-in voting gives a stark illustration of the authoritarian creep taking place within America today. Free market capitalism frames the debate as a competition, a partisan “free choice.” Nothing could be more obfuscating. In Ohio, as in other states, the dominant GOP has relied on mail-in voting as the “compromise” to the Dems demand for early voting, wide spread polling places, Sunday voting, and same day registration/voting. The authoritarian creep comes to the fore when what actually occurs is considered, not the rhetorical cover meant to obfuscate the factual change. In the past week’s propaganda briefings, Dear Leader has reiterated his opposition and disdain for mail in voting, returning to the voter fraud mantra that his earlier administration’s defunct, disbanded and discredited voter fraud commission could not reveal (but like the Emperor’s clothes, the Emperor is sure it is there). “The president fiercely criticized mail-in voting as “horrible” and “corrupt” during the White House coronavirus task force’s daily news conference Tuesday [4-7-20], but also conceded that he voted by mail in Florida’s primary last month. Trump offered no legitimate explanation for the discrepancy between his position on mail-in voting and his personal voting habits, but insisted “there’s a big difference between somebody that’s out of state and does a ballot, and everything’s sealed, certified and everything else.” In other instances of mail-in voting, however, “you get thousands and thousands of people sitting in somebody’s living room, signing ballots all over the place,” Trump claimed. “You look at what they do, where they grab thousands of mail-in ballots, and they dump it. I’ll tell you what — and I don’t have to tell you, you can look at the statistics — there’s a lot of dishonesty going along with mail-in voting, mail-in ballots,” he continued, adding: “I think if you vote, you should go.”” (Trump: GOP should fight mail-in voting because it ‘doesn’t work out well for Republicans’, Quint Forgey, Politico, 4-8-20). How is one to grasp such a contradiction (especially in light of the same Dear Leader advocating Americans wear masks but he himself will not)? White House rejects bailout for Postal Service battered by coronavirus by Jacob Bogage for the Washington Post contributes more factual evidence of authoritarian activism. “Trump threatened to veto the $2.2 trillion Coronavirus Aid, Relief, and Economic Security, or Cares, Act if the legislation contained any money to directly bail out the postal agency, according to a senior Trump Administration official and a congressional official. “We told them very clearly that the president was not going to sign the bill if [money for the Postal Service] was in it,” the Trump Administration official said. “I don’t know if we used the v-bomb but the president was not going to sign it, and we told them that.”” Funding would run out by the end of spring without a loan provision included in the CARES Act. “Without the loan, which still has not been approved by the Treasury Department, USPS would be “financially illiquid,” by Sept. 30, according to estimates provided to lawmakers.” “And while the Trump Administration and Mnuchin pushed through private-sector bailouts in the Cares Act — $350 billion to the Small Business Administration loan program, $29 billion to passenger airlines and air cargo carriers, and economic incentives for the construction, energy and life sciences industries, among others — Mnuchin has signaled any postal relief funds in a “Phase IV” stimulus package currently under negotiation would amount to a poison pill.” Nothing would benefit Dear Leader’s authoritarian aspiration better than privatizing the USPS (particularly during the start up of the fall Presidential balloting). Akin to the demise of net neutrality, various “competing” mail delivery services would make for all the more reasons to invalidate a mailed in vote (limited service, hierarchical pricing,  uncommitted and insecure service, etc.). Though not privatized, the recent primary election in Wisconsin gave clear evidence to what patchwork requirements and deadline commitments result in. Analysis finds further evidence of authoritarian creep when the Republican Governor of Ohio shut down the March 17 primary and was challenged by the Democrats  over the legality of his move, the Trump appointed SCOTUS refused to hear it and let Mike Dewine have his way. When the Democratic Governor of Wisconsin opted to do the same, the SCOTUS deigned to consider the Republican challenge and voted 5-4 to allow the election to proceed. Oho is left with a pretend election at the end of April (all mail-in balloting). To vote in said pretend election requires multiple mail-in documentation hoops to jump through. The actual ballot itself is rife with opportunities of invalidation on grounds the envelope was not sealed properly, enough information/verification was not or incorrectly provided, lacking correct postage, etc. Like the hanging chad election outcome in the 2000 SCOTUS decided presidential race, there is ample grounds for ambiguous interpretation of outcome. In short, mail-in voting offers no panacea for the future of Democracy in America. It does, however, open a window on the continuous creep of authoritarianism within the current workings of the established, two party reliant system.

 

Days Of Irony: Gaslighting For Beginners

April 5, 2020

Analysis shows irony instrumental in gaining insight into the totality of a nation being consumed by Covid 19. The dictionary’s primary definition is “the expression of one’s meaning by using language that normally signifies the opposite” but the supplement speaks more to the times we live in: “a literary technique, originally used in Greek tragedy, by which the full significance of a character’s words or actions are clear to the audience or reader although unknown to the character.” After all, we all are consumed by the news we consume which is essentially a literary technique; Dear Leader’s daily propaganda conferences come to mind. Which brings up the local leadership of not only Newark’s Mayor Jeff Hall, as well as the Licking County Commissioners – all MIA. But when they do surface (Local governments brace for possible recession as coronavirus pandemic continues, 4-4-20, The Advocate) their primary concern is the projected loss of revenue. As long as the dollars show up, what difference does it make whether there is a healthy hand or sick one holding it? The last time we heard from the Licking County Health Department was its refusal to allow for a needle exchange. Be safe Newark! Staying with the politics of it all, what if they gave an election and no one showed up? The slightest proposed gun regulation legislation always provokes swift and vociferous protest while Ohio’s primary being shifted to a “mail in” election, slated less than a month after legislation, is received with not even a whimper. The irony is that the alternate date of April 28 (and mail in format) was lobbied for by none other than David Pepper and the Ohio Democratic Party. Ostensible reason was for the expediency of vetting delegates for the July convention. Ironically, the anointed candidate for said convention changed the date of that convention to August (or even September). The irony grows when one considers that nasty old Democratic Socialist Bernie Sanders mucking up party unity with all his agitated speech about income inequality, direct universal healthcare, free higher education and childcare. Too radical for the American people to embrace! They’d prefer Biden’s more moderate ACA HMO approach that determines ahead of time, for the doctors, who deserves care and who doesn’t qualify. Or Dear Leader’s “be nice to me” approach of dispensing patronage health care benevolence. NOT. Ironically (which is the theme of this posting), Covid 19 has shown otherwise. The current time sees an active preference for universal direct health care, forgiveness of student debt and child care urgency. There are smaller ironies, like abortion clinics “needing” to be closed while churches (and gun stores) “need” to be left open. Some rights are essential rights while others are non essential. But the largest, most blatant irony of them all is that, in just over 10 years, “free market” capitalism has required a total bail out of enormous proportions, again! This is no small individual bank collapse or savings and loan scandal. We’re talking maintaining and subsidizing an entire system to make sure it doesn’t become something else, entirely or partially (think hybrid cars). Both the incumbent candidate, Dear Leader, as well as his presumed opponent, Joe Biden, advocate bailing out the entire “free market” system in order to maintain and preserve it. Free market capitalism has abdicated responsibility for any of it through promotion of entrepreneurial agency (subjectivity), personal choice (and responsibility for) individual health care, retirement, employment, etc. The ultimate irony lies in the solution to the collapse of these entrepreneurial enterprise, self employed subjects with the current crisis. Stay at home or go to work? The token response is a one time cash hand out “dole” that is way short of even smelling like Mr. Sanders’ capitalist socialist state (with the added welfare insinuation that a “dole” implies and all); all done to ensure the health, safety and exclusivity of “free market” capitalism in these days of Covid 19.