Dissatisfaction with what has happened to the study of economics is producing a rapidly growing revolt among economics students in France, Britain, the United States, and elsewhere. Within a matter of months, this new movement has made considerable inroads in exposing the meaninglessness of orthodox economics in contemporary capitalist societies. Students are eagerly looking for answers about the issues of the day, such as expanding globalization, growing dominance of international finance, increasing polarization between the rich and poor nations and between the rich and poor of each nation. But orthodox economics has no meaningful answers to any of these questions—a fact that has fed the widening rebellion among economics students in numerous countries. Before reporting on this new discontent, we need to provide some background on how economics has been transformed, since its classical period, into a study that is becoming more and more irrelevant.
Volume 52, Issue 06 (November)
Socialists since the time of Marx have been proponents of democracy, but they have argued that democracy in capitalist societies is fundamentally flawed. In capitalist societies, the wealthy have tremendous social and economic advantages over the working class that undermine political equality, a presupposition for viable democracy. In addition, under capitalism the most important economic issues—investment and control over production—are not the province of democratic politics but, rather, the domain of a small number of wealthy firms and individuals seeking to maximize their profit in competition with each other. This means that political affairs can only indirectly influence economics, and that any party or individual in power has to be careful not to antagonize wealthy investors so as to instigate an investment strike and an economic collapse that would generally mean political disaster
For ten years, the Brazilian Workers Party (PT) has run city hall in Porto Alegre, the capital of Rio Grande do Sul state (on the border with Uruguay) and one of the main cities in the country. The PT is quite an original party, founded in 1980 by unionists, leftist Christians, and Marxist militants, all convinced that the emancipation of the workers will be the task of the workers themselves and stirred by the desire to invent a different, radical, democratic, libertarian socialism that breaks with the old models of Stalinism and social democracy. The current mayor, Raul Pont, a former director of the teachers’ union, belongs to the PT’s most radical current, the Socialist Democracy tendency, which bases itself on the Fourth International
Judging by the number of column inches now devoted to the subject in the national press, suburban sprawl has at last come of age. The sudden popularity of the topic may reflect the fact that suburbanites now constitute a majority of Americans. The impact of 132 million Americans on the landscape is hard to ignore. If, as environmentalists claim, more than four thousand acres of farmland are being devoured by suburban sprawl every day, then the prospect of a countryside bereft of open space can no longer be dismissed as alarmist. Sprawl is so pervasive and its predations so disturbing that its dynamics appear as almost a force of nature, inevitable and uncontrollable. So it is good to be reminded, as we are in the pages of Picture Windows, that the origins of large-scale suburbs were, in fact, anything but accidental and that the prime mover behind their massive postwar expansion was the federal government itself