STOCK MARKET WATCH -- Thursday, 10 May 2012

[bread_and_roses]

46. "Waiting for Copernicus: On the Slow-Death of Neoliberalism"

http://www.commondreams.org/view/2012/05/09-10

Published on Wednesday, May 9, 2012 by Foreign Policy In Focus
Waiting for Copernicus: On the Slow-Death of Neoliberalism
by John Feffer

It’s happening in Buenos Aires. It’s happening in Paris and in Athens. It’s even happening at the World Bank headquarters.

The global economy is finally shifting away from the model that prevailed for the last three decades. Europeans are rejecting austerity. Latin Americans are nationalizing enterprises. The next head of the World Bank has actually done effective development work.

... A backlash against austerity in Europe, a move toward greater state control in Latin America, a change in leadership at the World Bank: this might seem slender evidence for a Copernican revolution in economics. The evidence for overturning orthodoxy might even have seemed stronger in 1999, when the Asian financial crisis prompted New Perspectives Quarterly to ask economists Laura Tyson, Jeffrey Sachs, and others whether the Washington consensus was truly at an end (they saw greater “market pluralism” emerging). Moreover, a number of leaders like Barack Obama are styling themselves as Tyco Brahe, the Danish astronomer who attempted to combine both Ptolemy and Copernicus into an untenable geo-heliocentric system. These modern-day Brahes want to preserve the Washington consensus with only a few modifications.

Obama as Tycho Brahe -

aside - where the heck were all these good articles on economic matters on the sites I read last weekend when I was trying to find stuff for WE?