Review (Guest): Beyond Mainstream Explanations of the Financial Crisis – Parasitic Finance Capital

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Amazon Page

Ismael Hossein-azdeh

5.0 out of 5 stars Review of Hossein-zadeh, Ismael. 2014. Beyond Mainstream Explanations of the Financial Crisis: Parasitic Finance Capital., May 16, 2014

By Isaac Christiansen

Ismael Hossein-zadeh has done a masterful job in explaining the causes of the 2007-08 financial collapse and in identifying what must be done in response. He sets out in Beyond Mainstream Explanations of the Financial Crisis to first demonstrate the origins of the crisis and the subsequent transfer of “tens of trillions” of dollars from the vast majority of society into the coffers of the financial speculators through the imposition of austerity cuts on the many for the benefit of the few; and secondly to examine potential societal responses to avoid the repetition of such crises in the future. To do this, he begins by examining the two most prominent explanations for the crisis: the neoliberal explanation, which claimed it was due to irrational market actors and/or intrusive government policies that interfered with the self-correcting market mechanism; and the Keynesian explanation, which explained the crisis as the result of excessive deregulation, “inappropriate” public policy and supply side strategies. The author skillfully exposes the weaknesses of both and offers a compelling and well grounded alternative explanation, as indicated in the book’s title.

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Review: Governing the Commons: The Evolution of Institutions for Collective Action (Political Economy of Institutions and Decisions)

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Amazon Page

Elinor Ostrom

5.0 out of 5 stars 6 Star Collective Common Sense Relevant to CYBER-Commons Not Just Earth Commons, May 27, 2014

I read this book shortly after I had read Stop, Thief!: The Commons, Enclosures, and Resistance (Spectre) and my first impression is that the book should be re-issued in 2015, a quarter-century after it was first published, with additional material on how everything here is applicable to governing the cyber-commons. I have to recommend the two books together — STOP THIEF lays down with deep historical and multi-cultural foundation that gives GOVERNING THE COMMONS even more credibility — and for those that do not realize, this book earned the author a Nobel Prize in Economics.

On that note, I would point out that this book crushes the traditional explanations for why the state or the firm are superior decision-making alternatives to bottom-up citizen common sense. This book is also consistent with the LOSING proposal to the Club of Rome that recommended we focus on educating the global public (a universal bottom-up approach). As well now know, the Club of Rome chose the wrong solution, Limits to Growth: The 30-Year Update, because is assumed that top-down mandated measures were the only measures that could be effective.

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Review: STOP, THIEF! The Commons, Enclosures, and Resistance

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Amazon Page

Peter Linebaugh

5.0 out of 5 stars David Bollier’s Review is Better, This Is My Attempt, April 21, 2014

I was very impressed by David Bollier’s review of this book at his web site (look for < “Stop, Thief!” – Peter Linebaugh’s New Collection of Essays > and am encouraging him to port that excellent review here to Amazon. Indeed, after working my way through the book myself, I consider myself unable to do proper justice to this deep work that integrates history, poetry, political economy, anthropology, and sociology among other disciplines. Hence I hope others will write substantive summary reviews and I again recommend Bollier’s review above.

Three thoughts keep recurring as I went through this book of original current essays and presentations:

01 Holy Cow. This guy is DEEP and BROAD in terms of arcane as well as popular sources, delving down into little known poems, essays, public statements, etcetera. This book is the one book version of the Durant’s Story of Civilization applied to one topic, the commons.

02 Holy Cow. This is what my top political science professor was trying to explain when I was in college in 1970-1974 – yes, a half century ago — and I was just not smart enough, patient enough, to appreciate it.

03 Holy Cow. This book is not just subversive, it does a magnificent job of head slapping every politician, economists, talking head, and other pretender who presumes to talk about public welfare without for one instant understanding that wages are a form of slavery and disconnection of humanity from everything else. Lionel Tiger makes related points in The Manufacture of Evil: Ethics, Evolution and the Industrial System but this book — if you focus and do not get lost in the poetry and minutia of exemplar citation — beats the commons versus capitalism drum along every possible note on the musical scale.

Among my high-level notes:

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Review: Who Rules America (2013)

Amazon Page

Amazon Page

G. William Domhoff

5.0 out of 5 stars 6 Stars for Early Warning on 1%, Holistic Analytics, and Clear Attention to Weakness of the 99%, April 19, 2014

This book was central to my education in Political Science (more political than science, more passive aggressive than normative). In light of all that we know now, the book MUST be considered both a 6 Star classic (in my top 10%, I read non-fiction in 98 categories), and highly relevant today.

It distresses me that there are no good reviews visible right now, this is partly because Amazon has destroyed really great reviews from past editions in order to make way for new generations of young reviewers, most of whom do not get pointed toward this book by their college professors, if they are lucky enough to even go to college.

Here is the 6th edition of the book where useful reviews are to be found:

Who Rules America? Challenges to Corporate and Class Dominance

Click on Image to Enlarge

Click on Image to Enlarge

I am posting an image from the author that shows how the social, corporate, and “hired hand” elite (for the latter, think tanks and politicians) intersect, with the 1% shown in the center (I added that bit).

Democracy is hard. Responsibility in democracy cannot be delegated or integrity is lost. When I and the author speak of integrity we are talking about accountability, the assurance of diversity in all councils, feedback loops, and the recognition of true costs of any decision. When the public delegates its responsibility for self-government, democracy is quickly lost. For other books that support this one, which can be considered “the original” in modern history (Toqueville’s Democracy in America (Penguin Classics) is THE original), see my easily found list of my Amazon reviews on this topic and its anti-thesis corruption, by searching for:

Worth a Look: Book Reviews on Democracy Lost & Found

Worth a Look: Book Reviews on Corruption 2.0

For anyone wanting more than is available from Inside the Book, or seeking a summary of the book, there is no better summary available than that provided by the author himself on a very powerful web site of his own, search online for:

The Class-Domination Theory of Power by G. William Domhoff

For myself, this book is both a celebration of what Politica Science can offer (see also the books listed below within my ten link limit), and also an indictment of the discipline of Political Science. I am in the process of thinking about how to change the discipline to answer these three WHAT IF questions:

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