Tag: Capital

What follows farce?

At this week’s UK Treasury Select Committee hearing on the Budget of 2012, attendees were invited to draw parallels between George Osborne’s view of economics and the military stratagems of Field Marshall Haig. It seems that the British Chancellor of the Exchequer has followed Haig in believing that the best way to confound one’s enemies…

The Muppet Show

Greg Smith’s resignation letter in the New York Times yesterday, announcing a bridge-burning departure from his position as Executive Director of Goldman Sachs’ Equity Derivatives Division (Europe, Asia, Africa) certainly brought Wall St. to a relative halt. GS cancelled conference calls and the Goldman Flacks (PR goons) were rounded up to pour scorn on Mr. Smiths allegations as “unrecognisable”.

The importance of the letter was not so much it’s revelation of a eat-what-you-kill culture in which clients are the main course, not even the contention that somehow GS had changed culture – it hadn’t any more than any other investment bank since the Big Bang. The letter was important because it effectively took GS clients’ faces and slammed them against the restaurant window, through which they could now see their GS contact engaged in anthropophagia between raucous tales of how the current dish had of its own volition signed up to sit on the plate […]

Law and Infinite Debt

    In his critique of free will, Spinoza’s first argument against his opponents, named (Heereboord) and unnamed (Descartes, Aquinas, Burgersdijk) is that the intellect is not only the same as the will, but that in no way can the will be said to exceed the intellect.1 The position is characterised as the claim that…

Towards a Radical Anti-Capitalist Schizophrenia?

Internet shopping has entered mainstream culture. Every major corporation in the world has a web site offering product information, interactive advertisements, and, increasingly, the ability to buy products on-line. Discount books, pizza delivery, stocks, and just about anything else you can imagine are available for purchase in cyberspace. Internet based commerce exemplifies and extends the…