Sam Girdin and Leo Panitch teach political economy at York
University. The Toronto School for Creativity and Inquiry offers
this mp3 audio in the hope that thousands of discussion groups will
arise in the world. Governments run deficits because of drying up
of the tax base. Populists brought Greenspan and Paulson before
congressional committees. Crisis is systemic to capitalism and part
of its dynamic and evolution. Capitalism has developed with
contradictions. As capitalism spread to become today's global
capitalism involving globalization of production, investment and
trade, financial capital has become important in spreading and
hedging risk. Capitalism deepens itself socially by integrating the
mass of the people in the financialization of everyday life. The
state has facilitated this process and is central to its happening.
Corporations do not sign free trade agreements.