While some of what he writes makes a lot of sense he also pens jewels such as this:
When the gullable(sic) weak are convinced by the devious strong in society that government is the problem, not the solution, the weak are inadvertently trapped into a political climate that permits the destruction of their only institutional protector, since the existential function of government, regardless of political and economic color, is to protect the weak from the strong.
http://www.atimes.com/atimes/Global_Economy/LF10Dj03.html
That is news to me that the existential function of government is to protect the weak from the strong. I should think that the existential function of government is to help the ruling class exploit the gullible weak. Sometimes it is in the interest of the ruling class to buy off the working class through providing a social safety net that will help keep social peace but this happens usually through struggle with the government of whatever political stripe.
I find it interesting that when corporations are able to make large profits they are applauded and encouraged. When unions gain good wages and benefits for their members they are said to be greedy and make a country uncompetitive and so must be forced to give back what they have gained when times are tough. Corporations on the other hand need to increase their profits and be bailed out.
Cheers, ken hanly
Blog: http://kenthink7.blogspot.com/index.html Blog: http://kencan7.blogspot.com/index.html
----- Original Message ---- From: "123hop at comcast.net" <123hop at comcast.net> To: lbo-talk at lbo-talk.org Sent: Sat, June 19, 2010 11:47:31 PM Subject: [lbo-talk] Liu on Eurozone austerity
very good stuff. Doug, have you ever had him on your show? He's good on economics in general, and very good on China.
http://www.atimes.com/atimes/Global_Economy/LF10Dj02.html
Joanna ___________________________________ http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk