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Greek Lessons: Democracy vs. Debt-Bondage


It is a truism to say that democracy began with the Greeks—less so to say that it originated in popular rebellion against debt and debt-bondage. Yet, with the Greek people ensnared once more in the vice-grip of rich debt-holders, it may be useful to recall that fact. For the only hope today of reclaiming democracy in Greece (and elsewhere) resides in the prospect of a mass uprising against modern debt-bondage that extends the rule of the people into the economic sphere.


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Follow the Money: Behind the European Debt Crisis Lie More Bank Bailouts


While I was cursing the inane mainstream commentary on the global economy recently, I was reminded of a pivotal scene in the 1976 movie, All the President’s Men. As two young reporters investigate the burglary of Democratic Party offices in the Watergate Hotel, a disgruntled, high-ranking FBI agent, code-named Deep Throat, advises, “Follow the money. Always follow the money.”
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And They Call This a Recovery?


This is no more a normal economic recovery than the Great Recession of 2008-9 was an ordinary downturn. Instead, we are in the midst of a much more complex period - one of deep recessions, shallow upturns, high unemployment, government debt crises, renewed recessions . . .
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Mubarak's Folly: The Rising of Egypt's Workers


Rarely do our rulers look more absurd than when faced with a popular upheaval. As fear and apathy are broken, ordinary people – housewives, students, sanitation workers, the unemployed –remake themselves. Having been objects of history, they become its agents.
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Night in Tunisia: Riots, Strikes and a Spreading Insurgency


Popular upheavals always carry a distinct sonic resonance. The cascading chants that reverberate through the streets, the roar of the crowd as it drives back the riot police and seizes the city square
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Like we said, it's a global slump


I have never accepted the postmodernist contention that contemporary capitalism is all about smoke and mirrors. The notion that ideology and illusion make the system go round strikes me as another mode of reductionism – this one based on culture rather than, say, economics. But it must be said that, at first blush, the mainstream business media certainly offers some sustenance for the smoke and mirrors thesis.
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