MARXIAN ECONOMICS & POLITICAL ECONOMY: “Ten Years Ago: Defense Spending [10th Anniversary of Economic Update with Richard Wolff]” / Democracy At Work / Richard Wolff ☮

Defense spending was never really a story of military issues. It’s really more of an economic story.

To mark Economic Update’s 10th anniversary year, Professor Wolff is revisiting relevant moments from 10 years ago to explore how capitalism, its defenders, and its critics have all changed.

For the month of April, Prof Wolff takes a look at defense spending, which was at its height in 2011, accounting for 4.5% of the total US GDP. 10 years later, the Biden Administration has announced the final withdrawal of American troops from Afghanistan, ending the 20 year war without the defeat of the Taliban. But there was a winner: the defense industry.

INTERVIEW: “Christopher Hitchens” / BBCs Jeremy Paxman

BOOK REVIEW: “Macro Cultural Psychology: A Political Philosophy of Mind” / Carl Ratner

Fight Evil. Read Books.Society—especially capitalist societies, but also some earlier types such as feudalism—is divided by class, with a minority constituting a ruling class that lives by exploiting the direct producers. Thus, the majority is exploited and hence oppressed.

[…]

. . . [O]ne of capitalists’ favorite ideological ploys: individualism. We are the masters of our own fate, not society and its culture. If we fail, it is our own fault. We simply did not try hard enough or follow the right path. Individualism favors self-blame and a refusal even to look for social causes.

[…]

Enforced subordination calls forth coping reactions and leads to identities grounded in how well we manage to cope.

Examples of this kind of coping include what can be called “the good soldier” and “the sexy woman.” In the former, a person prides him or herself on the ability to demonstrate undying loyalty to a superior. In the latter, a woman prides herself on her ability to manipulate men in a world where men are dominant.

Read more . . .

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