Posts Tagged ‘Paul Street’

From the end of Paul Street’s They Rule: The 1% vs. Democracy (2014):

Those on the radical left who worry that pursuing a Green New Deal and leading with the environmental issue means giving up on the struggle against the 1% for a democratically transformed “world turned upside down” can rest easy. The green transformation required for human survival will be bright rouge. With its inherent privileging of private profit and exchange value over the common good and social use value, its intrinsic insistence on private management; its inbuilt privileging of the short-term bottom line over the long-term fate of the earth and its many species, with its deep-sunk cost investment in endless quantitative growth and the carbon-addicted way of life and death, and with its attachment to the division of the world into competing nations and empires that are incapable of common action for the global good, capitalism is simply inconsistent with the deep environmental changes required for human survival. “Green capitalism” is an oxymoron. It is na├»ve to think that the green transformation required for civilization’s survival can take place without an epic confrontation with — and defeat of — the concentrated wealth and power enjoyed by the capitalist elite and its profits system. [p. 197]

An astounding sentence (sandwiched for context) from They Rule: The 1% vs. Democracy (2014) by Paul Street:

The contemporary wealthy do not simply benefit from society; they accumulate fortunes at the expense of it. They profit from mass unemployment’s depressive impact on wages, which cuts their labor costs; regressive tax cuts and loopholes, which increase with wealth while shutting down social services for the poor; the cutting and undermining of environmental regulations, which reduce their business costs while spoiling livable ecology; wars and giant military budgets, which feed the bottom lines of the “defense” corporations they own while killing and crippling millions and stealing money from potential investment in social uplift; a hyper-commercialized mass consumer culture that despoils the environment while reducing human worth to exchange value and destroying peoples’ capacity for critical thought; dealing with corrupt dictators who provide natural resources at cheap prices while depressing wages and crushing democracy in “developing countries”; the closing down of livable wage jobs in the United States and the export of employment to repressive and low-wage peripheries; a health care system that privileges the profits of giant insurance and drug companies over the well-being of ordinary people; exorbitant credit card interest rates that lead to millions of bankruptcies each year; predatory lending practices that spread and perpetuate poverty and foreclosure; agricultural and trade practices that destroy sustainable local and regional food cultivation and distribution practices at home and abroad; the imposition of overly long working hours that keep employee compensation levels down while helping maintain a large number of unemployed workers; exorbitant public business subsidies and taxpayer incentives and bailouts of the rich paid for by the rest; and … the list goes on and on. Corporate and financial profits were restored in the wake of the 2008 financial crisis largely because the working-class majority paid for them, through taxpayer bailouts, slashed social services, layoffs, and reduced wages, hours, and benefits. [p. 89]

From They Rule: The 1% vs. Democracy (2014) by Paul Street, which I’m just starting to read:

The contemporary United States, I find in this volume, is neither a dictatorship nor a democracy. It is something in between or perhaps different altogether: a corporate-managed state-capitalist pseudo-democracy that sells the narrow interests of the wealthy business and financial elite as the public interest, closes off critical and independent thought, and subjects culture, politics, policy, institutions, the environment, daily life, and individual minds to the often hidden and unseen authoritarian dictates of money and profit. It is a corporate and financial plutocracy whose managers generally prefer to rule through outwardly democratic and noncoercive means since leading American corporations and their servants have worked effectively at draining and disabling democracy’s radical and progressive potential by propagandizing, dulling, pacifying, deadening, overextending, overstressing, atomizing, and demobilizing the citizenry. At the same time, American state and capitalist elites remain ready, willing, and able to maintain their power with the help from ever more sinister and sophisticated methods and tools of repression brutality, and coercive control.