Bleakonomics: A Heartwarming Introduction to Financial by Rob Larson

By Rob Larson

Bleakonomics is a quick and darkly funny consultant to the 3 nice crises plaguing ultra-modern global: environmental degradation, social clash within the age of austerity and fiscal instability. Written for somebody who's thinking about how we’ve come up to now, Rob Larson holds mainstream financial thought up opposed to the awful truth of a planet in meltdown. He appears at scientists’ conclusions approximately weather swap, the company world’s evaluations approximately its personal strength, and divulges the fingerprints of finance on American elections. With a special and interesting method of each one an important topic, scholars, lecturers and activists will discover a lot to understand during this quiet call-to-arms for a saner and extra reliable global.

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Extra info for Bleakonomics: A Heartwarming Introduction to Financial Catastrophe, the Jobs Crisis and Environmental Destruction

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21, No. 3, September 2010. 40 Larson T02603 01 text 40 30/08/2012 11:26 The Brown Peril 41 anthropogenic sources, such as fossil fuel combustion, biofuel cooking and biomass burning,”4 but in fact we can go a step beyond that. In many of their basic aspects, these toxic ABCs are the products of “neoliberal” economic forms, including fiscal reductions in social supports, liberalized trade policies, and foreign direct investment. It’s not correct to say neoliberal globalization fails to protect the environment—the active destruction of livelihoods and ecology in neoliberal Asia now has a physical manifestation visible from space.

The IMF is an institution that organizes “rescue packages” for governments that are drowning in debt. It and its associated institutions, like the World Bank, make these loans only on condition that the receiving government undertake “structural adjustment programs,” which usually involve driving up the payments Larson T02603 01 text 44 30/08/2012 11:26 The Brown Peril 45 on debt by governments through reduction in services for the poor. Indonesia had enormous debt after years of US-backed dictatorship, and so the IMF forced a cornered Indonesia to accept fiscal austerity in exchange for credit, particularly through reduction or elimination of subsidies for many basic products, including food, fuel, and electricity.

10 Indisputable is the fact that BP was days behind the drilling schedule and over budget, with each additional day of rig operation costing the company $1 million. But the ignored pressure test is just one example of BP’s relentless corner-cutting and hastiness, which of course elevate risk, much of which affects others’ livelihoods, the Gulf’s ecology, and future generations. The business press, and especially the Wall Street Journal, has documented a parade of cost externalizing by one of the world’s most powerful corporations.

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