Capitalism: “It might start sucking less”

From The International Herald Tribune:

On the cusp of economic history

Is economic history about to change course? Among the chieftains of politics and industry gathering in Davos for the World Economic Forum on Wednesday, a consensus appears to be building that the capitalist system is in for one of those rare and tempestuous mutations that give rise to a new set of economic policies . . .

“The pendulum between market and state is swinging back,” Pascal Lamy, director general of the World Trade Organization, said by telephone before traveling to Davos. “The year 2008 is a crucial year that could end up setting the tone for some time to come. What we need is an ideological mutation without falling into the trap of protectionism.”

One such mutation in mainstream economic policy took place after the Depression of 1929, which led to a protectionist interlude and then gave rise to Keynesian demand-side policies and eventually the welfare state. Another took place following the oil price shocks in the 1970s, which refocused policy makers’ attention to supply-side measures and strengthened those pushing for privatization and free markets as the best way to stimulate growth.

When students of economics open their history books in 2030, they might read about 2008 as the year when the groundwork was laid for a re-regulation of certain markets, a more redistributive tax system and new forms of international policy coordination, economists say.

I don’t know, isn’t this just more of the classic cycles we’re supposed to expect from capitalism?  But having said that, it would be unfair to claim that nothing has changed and that we’re stuck in a perpetual circle of death and reincarnation.  Perhaps the roller coaster is a more apt metaphor – things go up and down, but they never go backwards.  After all, the environment is in a more precarious position today and the emerging economies of China and India are far stronger than they have been in the recent past.

So, while no one can expect the abolition or even the gradual phasing-out of the capitalist nation-state system, perhaps we will see some encouraging moves towards allowing more people around the world the chance not to get gang-raped out of nowhere by economic policies they never agreed to.  And perhaps some of these people might be more open-minded to an alternative to the current political-economic system?  Hope springs eternal.

By the way, that picture of Davos just makes me even happier that I’m in Costa Rica right now.  Man, it looks cold up there (although it’s snowing so it must be relatively warm, like only -5 Celsius).

“Canadians” becoming code word for “niggers” in US

Via Language Log: No Dogs or Canadians? 

This is rather bizarre, but apparently in the US, the term “Canadian” is apparently increasingly being used as a replacement derogatory term for “black people”.  It’s ideal for cryptoracists because it doesn’t sound racist.  “Damn Canadians” doesn’t sound like a racial slur, after all.

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The World’s Top Social Networking Sites

From Foreign Policy:

The World’s Top Social Networking Sites

Social networking sites such as Facebook and MySpace have made the world seem like a small place after all. But even on the Internet, persistent language barriers and cultural differences mean that the planet may not be quite as interconnected as you think.

Coming to Costa Rica, I found out first-hand how parochial the Anglosphere really is.  It’s easy to over-estimate the global reach of English when you’re immersed in it, but one must remember that the majority of the world doesn’t speak the language of Shakespeare.  The Anglosphere might seem all-encompassing in its totality, but all you have to do is change your linguistic environment and suddenly people are talking about celebrities you’ve never heard of and singing along to classic songs you never knew existed.

As offline, so also online.  I’m only now dipping my toe into the Spanish Internet and it’s rather fascinating to discover the differences Spanish Internet talk has from standard written Spanish (for instance, hardly anyone uses the upside-down symbol things like ¿).

This article from Foreign Policy is a nice round-up of the state of social networking sites in different language zones of the world.  I hadn’t known that Orkut was big in India or that its membership had plateaud, and neither did I know that Facebook was also big in the Arab countries, nor that Skyrock even existed.  And finally I found out who’s been using Hi5.  Anyway, do read the article, it’s only 2 pages long and is a good corrective to English-language ghettoism online.