Political Economy.docx

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18 Apr 2012

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Political Economy
November 1, 2011
- flaws abt economics and exploitation of people who do their work
- as long as exploitation exists capitalism is threatened
- Marx argued that ppl who owned the means of production owned everything (politics, media,
Canary Warf
- all brokers lost jobs (thousands)
- don't really know what to do
1. Increasing concentrations of capitalism
What is it? What does it mean?
- there's going to be fewer and fewer corporations and more massive corporations that
ctrl unbeleivable amt of business
- competition limited more and more
2. Falling Rate of Profit
- harder to actually make money
- if u keep replacing ppl w/ machines + they have no jobs .....
Polarization of Classes
- classes moving further away from each other in terms of money each class makes
Increasing Poverty of the masses
- more poor people
- no such thing as poverty line in Canada
Recurrent Crisis in Overproduction
- too much is made and ppl dont want to buy
Treadmill of Technological Innovation
- supposed to create new market (doesn't always work)
- capitalism has been enormously resilient
What's the Evidence?
- Supply and Demand, and competition
- Neoliberalism: everything gov't involved in should be taken over by private enterprise
- associated w/ conservative politics
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