How can we create a Democratic Global Capitalism

Question for Discussion: How can we create a Democratic Global Capitalism?

Readings:; Schwenninger, "Democratizing Capital"; Hertz, "The Death of Gucci Capitalism"; Dowd, "Virtuous Banks, Really"; Baker, "Barack Hoover Obama" ; Daily Kos: Brief survey of Obama/Hoover comparisons;
;Korten,"12 Point New Economy Agenda" (121-136)

Videos: DVD: Moyers: Bankers vs. the Middle Class

Alternative to Economic Globalization

Debating Globalization

Posner, "We are in a Depression"
Banking Collapse of 2008 : Three weeks that changed the world ...
Gross, "Dumb Money"
Government bailouts of the Financial Markets
1982-2008
The Problem is that the Federal Government has
bailed out Wall Street because it is that Finance
is at the center of a healthy economy
The FIRE sector of Wall Street is doing really well
but the real economy of Main Street is hurting. By 2008,
Finance was 31 percent of the wealth created every year
in our GDP
Money creating money on Wall Street through the inflation
of asset bubbles (stocks, housing, bonds, securities, or
derivatives) does not help the real economy of Main Street
The real economy of Main Street involves companies hiring
workers, producing goods and services, and creating wealth
for real communities. If Main Street doesn't work, then our
economy doesn't work.
Is it possible that we owe our foreign creditors so much
money, and depend on their continuing to loan money to
us, that we can't break up the Banks and reform the financial
system without really hurting our Arab, Chinese, and Japanese
creditors? If so, then Friedman is right: The Electronic Herd
is really calling the shots. This would represent the end of
any pretense at democracy in the United States. Friedman would
we right that our politics is just Pepsi or Coke with no other
alternative choices. This is what Friedman means by TINA:
There is No Alternative.
Korten, Wall Street Markets vs. Main Street Markets
Bailout Recipients spent Millions on Lobbying
Watchdog Sees Huge Bill for Banks Bailout (Oct. 2009)
Banks screwed the Government and Taxpayers
Uncle Sam, the Enabler: How Wall Street
screwed Main Street: A Memo from the top
Greenspan and the Wisdom of Markets
Total Bailout Cost : $8 Trillion
Watchdog Sees Huge Bill for Banks Bailout (Oct. 2009)
TPMDC | Talking Points Memo | The Influence Your Money Can Buy ...
Korten, Wall Street Markets vs. Main Street Markets
Brooks, "We Need a Bailout Too"
LInd, "That Sound your Hear is the Social Fabric about to Snap"
What Else could our Bailout Buy
G20 finance ministers agree to maintain fiscal support‎
Hertz, "The Death of Gucci Capitalism"
Naomi Klein: Wall St . Crisis Should Be for Neoliberalism
What Fall of Berlin Wall was for Communism
Baker, "Barack Hoover Obama"
Obama's Huge Deficit Flipflop
Dowd, "Virtuous Banks, Really"
Stiglitz, "How to Prevent the Next Wall Street Crisis"
Schwenninger, "Democratizing Capital"
Hirsh: Why We Should Break Up the Big Banks | Newsweek Voices
Robert Reich: Breaking Up the Big Banks, and
Why Congress Won't Do It
Leonard, The Break Up the Banks Delusion
Leonard, Boom and Gloom
Johnson, "Fix the Economy"
Boone and Johnson, "The Next Financial Crisis"
Lewis, The End of the Financial World as We Know It
Lewis, How to Fix a Broken System
RGE - New recommendations to solve our financial crisis (pdf)
RGE - New recommendations to solve our financial crisis (html)
Korten is right. We have the power and chance to reform this
Money monster that Wall Street has become. The danger is that
we won't be able to do it because of the influence of Big Money
in Politics
Korten,"12 Point New Economy Agenda"
Reich, "Why Wall Sreet Reform is Stuck in Reverse"
Korten: Summary of Political and Economic Reforms