Login/Sign up

World Association of International Studies

Post re: Economics: Poverty and the Crisis of Capitalism (Bienvenido Macario, Philippines/US)
Created by John Eipper on 10/26/08 4:58 AM - re-economics-poverty-and-the-crisis-of-capitalism-bienvenido

Previous posts in this discussion:


re: Economics: Poverty and the Crisis of Capitalism (Bienvenido Macario, Philippines/US) (John Eipper, USA, 10/26/08 4:58 am)

Bienvenido Macario writes:

I've been reading and reviewing this discussion trying to make sure I
understand the arguments being presented. Once again Jon Kofas in his
24 October post made a valid point, perhaps applicable to the majority
of the situations in developing sovereign and independent countries.

I am not sure, however, if the IMF, World Bank and the UN would really
be interested in seeing these problems solved. In which case what
will happen to these world organizations if there is a significant
reduction in poverty around the world? UK's Tony Blair and Gordon
Brown have both called for the reform of these organization on May 26,
2006 to no avail. Instead on 23 October former Federal Reserve
Chairman Alan Greenspan testified as to the extent of his mistakes
that led to the present crisis. Maybe the US Congress should replace
Ben Bernanke before he makes a mistake.

Has anyone ever wondered why our government is so beholden to the UN,
IMF and World Bank? These international organizations have no
oversight. Maybe we should get used to having children starved to
death until we can reform, rival or replace the UN, IMF and World
Bank. We could possibly see the American electorate replacing the
members of the US Congress who consider these organization sacred.

I think the crisis of capitalism was caused by the lack of
competition. My impression of the need to regulate private businesses
and industries is to protect the people and the economy by protecting
the anti-trust laws with exceptions few and far in between.

Jon Kofas is right to assume that on the Nov. 15 meeting, poverty will
not be seriously tackled because representatives of G-20 nations will
mostly represent their respective country's economic and financial
elite, most of whom did not develop, invent or discover anything upon
which their wealth was built.

I have just one question: What's the difference between capitalism
and mercantilism? Mercantilism came to replace the feudal system in
Europe. One causes of poverty in developing countries is because they
are still living in a feudal system where private armies and warlords
rule. Only this time they have AKs and M-16s.

JE comments: Economics gurus, care to take a stab at Bienvenido
Macario's last question? I view mercantilism as a controlled,
non-"free market" capitalism, in which the colonial center attempts to
exploit its colonies for its own enrichment. The colonies export
cheap raw materials to the center, which adds "value" and returns the
products to the colonies at great profits. In this light, the US
Revolution could be viewed as a revolt against the British
mercantilist system. Spain attempted to run the same system in the
Americas--as well as the Philippines. The last hurrah of mercantilism
was the brutal European colonization of Africa in the 19th and early
20th centuries.

For information about the World Association of International Studies
(WAIS), and its online publication, the World Affairs Report, read its
homepage by simply double-clicking on: http://wais.stanford.edu/

John Eipper, Editor-in-Chief, Adrian College, MI 49221 USA

Rate this post
Informational value 
Reader Ratings (0)
Informational value0%

Visits: 6


Please login/register to reply or comment: Login/Sign up

Trending Now

All Forums with Published Content (42835 posts)

- Unassigned

Culture & Language

American Indians Art Awards Bestiary of Insults Books Conspiracy Theories Culture Ethics Film Food Futurology Gender Issues Humor Intellectuals Jews Language Literature Media Coverage Movies Music Newspapers Numismatics Philosophy Plagiarism Prisons Racial Issues Sports Tattoos Western Civilization World Communications


Capitalism Economics International Finance World Bank World Economy


Education Hoover Institution Journal Publications Libraries Universities World Bibliography Series


Biographies Conspiracies Crime Decline of West German Holocaust Historical Figures History Holocausts Individuals Japanese Holocaust Leaders Learning Biographies Learning History Russian Holocaust Turkish Holocaust


Afghanistan Africa Albania Algeria Argentina Asia Australia Austria Bangladesh Belgium Belize Bolivia Brazil Canada Central America Chechnya Chile China Colombia Costa Rica Croatia Cuba Cyprus Czech Republic Denmark East Europe East Timor Ecuador Egypt El Salvador England Estonia Ethiopia Europe European Union Finland France French Guiana Germany Greece Guatemala Haiti Hungary Iceland India Indonesia Iran (Persia) Iraq Ireland Israel/Palestine Italy Japan Jordan Kenya Korea Kosovo Kuwait Kyrgyzstan Latin America Liberia Libya Mali Mexico Middle East Mongolia Morocco Namibia Nations Compared Netherlands New Zealand Nicaragua Niger Nigeria North America Norway Pacific Islands Pakistan Palestine Paraguay Peru Philippines Poland Polombia Portugal Romania Saudi Arabia Scandinavia Scotland Serbia Singapore Slovakia South Africa South America Southeast Asia Spain Sudan Sweden Switzerland Syria Thailand The Pacific Tunisia Turkey Turkmenistan UK (United Kingdom) Ukraine USA (America) USSR/Russia Uzbekistan Venezuela Vietnam West Europe Yemen Yugoslavia Zaire


Balkanization Communism Constitutions Democracy Dictators Diplomacy Floism Global Issues Hegemony Homeland Security Human Rights Immigration International Events Law Nationalism NATO Organizations Peace Politics Terrorism United Nations US Elections 2008 US Elections 2012 US Elections 2016 Violence War War Crimes Within the US


Christianity Hinduism Islam Judaism Liberation Theology Religion

Science & Technology

Alcohol Anthropology Automotives Biological Weapons Design and Architecture Drugs Energy Environment Internet Landmines Mathematics Medicine Natural Disasters Psychology Recycling Research Science and Humanities Sexuality Space Technology World Wide Web (Internet)


Geography Maps Tourism Transportation


1-TRIBUTES TO PROFESSOR HILTON 2001 Conference on Globalizations Academic WAR Forums Ask WAIS Experts Benefactors Chairman General News Member Information Member Nomination PAIS Research News Ronald Hilton Quotes Seasonal Messages Tributes to Prof. Hilton Varia Various Topics WAIS WAIS 2006 Conference WAIS Board Members WAIS History WAIS Interviews WAIS NEWS waisworld.org launch WAR Forums on Media & Research Who's Who