The economic Crisis of U.S. Capitalism

In April 2009, proclamations of Obama Administration chief economic adviser Larry Summers, Treasury Secretary Tim Geithner and President Obama assured himself the public that the administration 787.000.000.000 $ stimulus package bill, together with measures to rescue the banks would create millions of jobs and get make credit flowing again . But followed neither jobs nor credit. Overall, job loss, as measured by the Labor Department the unemployment rate, the most comprehensive indicator of unemployment rose from 15.4 percent in April 2009 to 16.5 percent a year later. At the same time, total lending in the U.S. by 10 percent in 2009 and a further 3.25 percent in the first three months of 2010(Haigh, pp 22). For a better understanding of the historical phenomenon that we need it with the right philosophical views investicate.

Economists do not use the word capitalism very much although we talk about capitalism all the time. We just do not have that name with the system as often as we should. When I was given the title of today's discussion, "the financial crisis of U.S. capitalism," she altered out of necessity, what I liked to say in an interesting way. For while it is important to talk about the state of the economy, will the weaknesses of the bailout proposed and discussed, still creates some clarity when their class character is discussed and it is clearer why meaningful reform is so difficult. These major issues are a lot with how capitalism works, how the economy can not be separated from politics and how politics can not will be separated from the distribution of wealth and power class(Gill, 54).

This theme, the current financial crisis described as a crisis of capitalism is the way a lot of the most conservative people in America see our situation, even a good number of members of the House of Representatives. Representative Jeb Hensarling, a conservative Texas Republican told his colleagues that give these representatives the time to free-market principles and start along the "slippery slope to socialism." "How can capitalism on the way up and socialism on the way down?" He asks. How indeed. Representative Thaddeus McCotter, a Michigan Republican, recalls that "peace, land and bread" was the 1917 slogan of the Bolshevik Revolution. "Today," he said, told his colleagues: "I suggest that people on Main Street, she said, prefer their freedom, and I'm with them." Actually, they ...