Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
Looking back at J.B. Clark we can see that he could discuss the 'appropriation' of the lands of Native Americans so directly because in his youth that appropriation was in full final swing and because US triumphalism and sense of moral entitlement blinded his contemporaries to the monstrous nature of what was happening. The Franks had settled on underutilized land in the initial phases of their move over the Rhine and into the Roman Empire. William of Normandy had conquered England and killed Anglo-Saxons, but he had not killed non-combatants on any significant scale. While after the Civil War the USA consciously sought to destroy the main means of existence of the plains dwelling tribes and reduced their numbers to a small fraction of what they had been. But the vast majority of US citizens thought that this was necessary and right. Today the vast majority of US citizens consider the ongoing appropriation of their wealth by the FIRE sector of the economy to be necessary and right. Another 'appropriation' is in process.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 29th, 2012 at 07:28:27 PM EST
[ Parent ]
..appropriation of their wealth by the FIRE sector of the economy..  

Indeed. Private monopoly sector crowds out private market (competetive) sector in accelerating phase via the help of and by finance (money monopoly). All finance goes to that sector that gives the highest yield, and that is always the monopoly sector that captures all surplus from the markets, especially debt leveraged capital gains. That leaves no purchase power to labour. Only by keeping public wealth in the control of government can private markets be saved.

So, unlike santiago says there is no zero sum game between government and private markets.

by kjr63 on Wed May 30th, 2012 at 06:49:25 AM EST
[ Parent ]

Display:

Occasional Series