Archive for the ‘exploitation’ Category

“A great vampire squid wrapped around the face of humanity”

January 16, 2013 4 comments

from  David Ruccio

“relentlessly jamming its blood funnel into anything that smells like money,” Matt Taibbi observed back in 2009.

And, in 2012, Goldman Sachs [pdf] made an extraordinary comeback in terms of capturing a larger share of the available surplus, with net earnings of $7.48 billion (compared to $4.4 billion in 2011), based on growth in the bank’s trading activity and “principal transactions” while keeping compensation and benefits close to where they were in the previous year.   Read more…

Categories: exploitation

Poverty and exploitation

September 19, 2012 4 comments

from David Ruccio

What would happen if the concept of exploitation became the entry point into our analyses of poverty?

According to Thomas B. Edsall, Matthew Desmond, an assistant professor of sociology at Harvard, asked exactly that question at a recent symposium on inequality at Yale:

If exploitation long has helped to create the slum and its inhabitants, if it long has been a clear, direct, and systematic, cause of poverty and social suffering, why, then, has this ugly word — exploitation — been erased from current theories of urban poverty?  Read more…

Categories: exploitation, The Economy

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