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Showing posts from August, 2011

Feral Global Capitalism in Crisis

August 14, 2011, 8:24 pm


How do we understand the present crisis of capitalism? Can it be grasped theoretically using the categories of neo-liberal economics? What is the sound theoretical perspective that helps us understand the crisis? Of course there is no mono-causal theory of crisis since crises are invariably caused by multiple factors. The most pronounced and seemingly correct explanation of the crisis has been directed to what is generally called over-financialization.
Referring to rioting youth in Tottenham, London, the Daily Mail called them "nihilistic and feral teenagers". Are the teenagers feral? Or, is it the capitalistic system as it has failed in the capitalistic West to provide a secure future for their young people? According to Professor Tony Chapman, only 49% of young people in the UK believe that they would have secure jobs in five years’ time. What have we witnessed since 2008? Credit rating of the USA was downgraded by the Standard & Poor from AAA to…

TNA is very justified in issuing an ultimatum on talks to the govt

TNA is very justified in issuing an ultimatum on talks to the govt8 August 2011, 9:34 pm by Sumanasiri Liyanage At the time of writing, it appears that the talks between the UPFA government and the Tamil National Alliance are on the verge of collapse. It has been reported that the TNA wants the government to address some issues if the latter is willing to continue talks. The government’s argument varies. Some Ministers have said that the issues raised by the TNA are fundamental so that 10 days period is not adequate to take a decision on the issues of such importance.

On the other hand, Minister Nimal Siripala de Silva has informed us that the issues raised by the TNA can be placed before the proposed Parliamentary Select Committee for discussion. If the government wants more time and can inform the time period it seeks, I am sure the TNA will accept that, provided it does not appear as a dilatory tactic. However, if the issues should be placed before the select committee as the Minister …