- Posts tagged economics
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Abraham Lincoln, on a Crisis he Foresaw
“We may congratulate ourselves that this cruel war is nearing its end. It has cost a vast amount of treasure and blood… . It has indeed been a trying hour for the Republic; but I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. As a result of the war, corporations have been enthroned and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war. God grant that my suspicions may prove groundless.”
— U.S. President Abraham Lincoln, Nov. 21, 1864 (letter to Col. William F. Elkins) Ref: The Lincoln Encyclopedia, Archer H. Shaw (Macmillan, 1950, NY)
Insider Look At Wall Street
This is a pretty incredible look at the workings in Wall Street around the time of the crash. I'd never heard of such things as naked short-selling but am slightly disturbed we let people get away with it (let alone just regular short-selling). What is the love of money again?
"Neoliberalism As Water Balloon"
Neoliberalism As Water Balloon from Tim McCaskell on Vimeo.
This is a fairly accurate video depicting a science fair project on neoliberalism. It does a decent job explaining the mess we are currently in economically. It might be a bit long for some folks (12 1/2 minutes) but worth it if you can make it through it.
