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An essay on the global economic crisis
Social economic classes in usa
Financial crisis of 2008 global economy
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Harvey explained the global crises of 2008 as a class war and neoliberalism as a ruling class project purposely orchestrated by a class conscious elite as a means to facilitate capital accumulation through Accumulation by Distribution. Harvey says neoliberalism is intrinsic to the capitalist class and works because of porous structural boundaries and an overlap between the state and capitalist. E.g. Harvey asserts the 2008 Economic crisis was facilitated by the legislators, cooperating with the bankers. During the mortgage bust, bankers and legislator’s porous connection was front and center as the bankers and investors received bail outs from the government in the form of taxpayer dollars for bad mortgage transactions, the sector gambled
Coming from an “unconventional” background, George Saunders is readily able to relate to the circumstances the everyday working laborer goes through (Wylie). However, Saunders has an advantage to spread out his ideas and concerns about life in the U.S. via his short stories and novellas. Because of neoliberalism and capitalism and its correlation to the huge wealth gap in the U.S. Saunders focuses his protagonists’ view from a proletariat standpoint, allowing the reader to see the life of consumerism has impacted our society. Saunders does not use conventional methods to portray this reality. Instead, Saunders emphasizes on the “absence” of certain moral human characteristics in order to take the reader away from viewing into a hero’s looking glass— to set a foundation of a world where our morals become lost to our materialistic and inherent need of money (Wylie).
Hurricane Harvey is located in Houston, Texas. It was the first major hurricane to make landfall in the United States since Wilma in 2005, ending a record 12- years period with no major hurricanes making landfall in the country. The sprawling and soaked Houston metro area and other deluge towns in southeast Texas braced for devastating floods and pummeling rainfall on Sunday as tropical storm Harvey stalled over land and drenched dogged searchers and anxious residents. Houston, Texas has set up shelters for people to stay out of the weather with good food, clean and fresh water, and dry, clean clothes. It is getting bigger and it has been confirmed that there will be more flooding close by to that area.
William Domhoff’s investigation into America’s ruling class is an eye-opening and poignant reading experience, even for enlightened individuals regarding the US social class system. His book, Who Rules America, exploits the fundamental failures in America’s governing bodies to provide adequate resources for class mobility and shared power. He identifies history, corporate and social hierarchy, money-driven politics, a two-party system, and a policy-making process orchestrated by American elites amongst a vast array of causes leading to an ultimate effect of class-domination theory pervading American society. In articulating his thesis and supporting assertions, Domhoff appeals rhetorically toward an audience with prior knowledge of America’s
Hurricane Harvey was one of the most devastating hurricanes to strike the United States in several years. Harvey resulted in over eighty fatalities and over 150 billion dollars in damages. This proves to be one of the most destructive hurricanes to be recorded. The overwhelming damage was caused by many different aspects; however, three of the greatest aspects are: varying weather patterns throughout the storm, the city structure of Houston, Texas, and the lack of evacuation. Each of these factors affected the city in a different way, but all resulted in a common outcome, devastation.
Natural disaster can be traumatic events that have a huge impact on the mental health of communities often resulting in an increase in mental health needs that don’t get met. In 2005, one of the worst natural disasters in U.S. History, Hurricane Katrina, hit the states of Louisiana and Mississippi affecting 90,000 square miles. In addition to the 2000 people killed and million displaced as a result of the Hurricane, a significant number of people, according to multiple studies, suffered and continue to suffer from mental health issues including stress, anxiety, depression and PTSD. After the Hurricane, communities were both physically and emotionally devastated leaving individuals without loved ones, homes, belongings or jobs (Rhodes, J., Chan, C., Paxson, C., Rouse, C. E., Waters, M. and Fussell, E., 2010. p. 238). The Gulf Coast, whose mental health system had been obliterated by the Hurricane, was in desperation of mental health services in order to prevent chaos and initiate recovery immediately. The U.S. government did not provide sufficient services; thus, illustrating how the affected communities’ mental health needs weren’t being met and continue to not be met today. The survivors of Hurricane Katrina did not receive sufficient mental health services due to lack of government action and lack of programs with the capacity to assist large numbers of people which resulted in the individuals and communities affected to endure homelessness, poverty, and mental health issues even till this day.
In an article entitled “Resisting and reshaping destructive development: social movements and globalizing networks”, P. Routledge describes neoliberal development, “Contemporary economic development is guided by the economic principles of neoliberalism and popularly termed ‘globalization’. The fundamental principal of this doctrine is ‘economic liberty’ for the powerful, that is that an economy must be free from the social and political ‘impediments,’ ‘fetters’, and ‘restrictions’ placed upon it by states trying to regulate in the name of the public interest. These ‘impediments’ - which include national economic regulations, social programs, and class compromises (i.e. national bargaining agreements between employers and trade unions, assuming these are allowed) - are considered barriers to the free flow of trade and capital, and the freedom of transnational corporations to exploit labor and the environment in their best interests. Hence, the doctrine argues that national economies should be deregulated (e.g. through the privatization of state enterprises) in order to promote the allocation of resources by “the market” which, in practice, means by the most powerful.” (Routledge)
It is better to accept this than to pretend that it isn 't true” (Wachowski and Wachowski). In this case, the rich and wealthy’s lives are important and those who are not are insignificant and subject to consumption by the wealthy. This is the way the market is seen to function and one can act in any way one wishes in order to function within it. To pretend that it can function in any other way means struggle and war, as Jupiter and her peers must do. This once again falls under the “market-in-the-gaps” – death and destruction of humans as by-products of the neoliberal market is just the way everything operates. Under neoliberal governance, the “the best practice” is one that effectively delivers one to capital and positional improvement (Brown). Governance is concerned with the environment, constraints, and tools that are created or used in order to achieve neoliberal goals. As a result of neoliberal governance, as Brown states, the political and ethical – i.e. equality or justice – are eliminated from discussion in favour of only what is deemed to be practical to achieve one’s goal. Governance through “best practices” consolidates goals of all institutions and subjects into economic and market values and eradicates all other aims that do not fall in line to the market rationality. Jupiter and Caine are attacked and hunted by the Abrasax
The ways Hurricane Harvey affected us with the ESPN factors.Hurricane Harvey affected us economically because we couldnt produce gas which means we had no oil so the oil companies had to shut down. Also we couldnt pay taxes because of it and people couldnt go their jobs and make money to either pay rent or just buy their famiy food.The way it affected us Socialywas that we couldnt go on with our daily lives of simply going to the movies so companies couldnt make any money that way. It may have taken some photos or objects from peoples cultures if their house flooded and maybe took away all the clothes they had too. The way it affected us politically was that our mayor took matters into his own hands and put a curfew at 10pm because of our saftey
On a Friday evening , August 25, 2017 through September 3rd, Hurricane Harvey became the first ever category 4 hurricane to ever hit the United States since the 2004 Hurricane Charley. This hurricane brought along with it heavy rainfall, damaging winds, and a very powerful storm surge. In some areas, there was rainfall topping fifty inches. Harvey devastated a good part of Texas, stretching from Houston to Louisiana. There have been 84 recorded fatalities . There have been volunteers for the survivors who have lost everything, some even including loved ones. Houses collapsed, walls caved in, and some people even had to await on their rooftops until rescue. More than 300,000 people did not have power on the gulf coast. More than a dozen tornadoes
This review can be seen in the example of someone who owns a small, local business not being seen as belonging to the same class as someone who owns a nationwide corporation, despite both people owning property. They are not seen as belonging to the same class because the large corporation makes a greater impact on society than the small, local business, and generates a larger income. Those who do not own property are differentiated in the same way by Weber, except this time he analyzes them based upon what kinds of services they offer and if they themselves participate in receiving services. In his final piece about class, Weber mentions class struggle. Class struggles are where people in the same class situation react, in large numbers, in ways that are an advantageous way to materialize and achieve their interests. Weber calls the factors that bring about class struggles, and determine class situations, markets. There are three types of markets that he mentions; the labor market, the commodities market, and the capitalistic market. The labor market is where people sell labor for money, the commodities
This essay will examine the causes of the 2008 Global Financial Crisis (GFC) from a Marxist perspective. This paper will specifically examine and critique how Marx’s Theory of Crisis can be applied to understand and interpret the underlying structural causes of the 2008 Global Financial Crisis.
Evans, T. L. (2011). Neoliberalism: deepening enforced dependency. Retrieved April 05, 2014, from The Foundation for the Economics of Sustainability website: http://www.feasta.org/documents/enforced_dependency/neoliberalism.html
For further consideration we turn to one of the major works of neo-Marxist school - Monopoly Capital: An Essay on the American Economic and Social Order.
What really amazes me is how this minority use their power and expertise skills to dominate the majority. They exploit the majority or the working class to be always on top of their games. They work in circle through the same jobs and are severally appointed in the same cabinets. They move from one company to the other and teach in well known schools. I see the impact of their power not only on financial industry but also on school system. Basically they build and control the system. David Harvey proposal’s theory of how neo-liberalism has achieved growth has been confirmed in this documentary. In this paper, I will be talking about how the four elements of accumulation by dispossession which are privatization, financialization, manipulation of crises, and state redistributions are verified throughout the movie.
Wall street has run the american society for a long time and has corrupt congress system legal ( Harvey). It also caused many Americans to go through the greatest economic depression since the Great Depression. Many individuals before this went along with this neoliberal agenda because it has become an accepted common sense. Wall street was a dominate power and has one universal code there shall be no serious challenge to the absolute power of money to rule absolutely ( Harvey 403). These principles have been carved into the body politics of our world through the collective will of capitalist class animated by the coercive law of competition ( Harvey 403 year). However, it was not just the neoliberal economic that played a huge role, but also the neoliberal political policy. “Neo liberal political police aimed to break down social solidarity and have similarly paved the for broad based democratic uprising” Brown 409)..When individuals becomes newly unemployed and long term poor become desperate, these facts lead to disorderly and disruptive protest against institutions such as banks and other corporations that have grown richer and the gap has increasingly grown. Butler