After fleeing Hitler, brilliant Jewish economist Karl Polanyi was never welcomed by the British. Now, for the first time in 80 years, his masterwork The Great Transformation has been be published in the UK
After fleeing Hitler, brilliant Jewish economist Karl Polanyi was never welcomed by the British. Now, for the first time in 80 years, his masterwork The Great Transformation has been be published in the UK
I’ve been saying this for years: The US economy is not “growing” not because we’re making more and better products, but because we’re commercializing social support systems that we used to get at low cost, or for free, from our families, relatives and neighbors: Health care, child care elder care, live-at-home spouses and homemakers, even talking with your neighbors and friends has been replaced with social media.
The cost of birthing and raising a child is even commodified in the health care system.
Is it any wonder why wealthy countries’ birthrates are falling? Asides from environmental factors, like microplastics and climate change.
That’s not productivity growth and making lives better for everyone.
It’s making the production of wealth increasingly meaningless for the average person.
It’s mining social and middle class wealth into the pockets of the wealthy elite and non-human corporations.
But what happens when the wealth in the mines is all gone?