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December 17, 2013 | By David Horsey
Rush Limbaugh is freaked out by Pope Francis' sharp critique of capitalism and consumerism. Rush says it sounds like “pure Marxism coming out of the mouth of the pope.”  Well, let us consider the pope's words: “Vast multitudes are still living in conditions of great material and moral poverty. The collapse of the communist system in so many countries certainly removes an obstacle to facing these problems in an appropriate and realistic way, but it is not enough to bring about their solution.
March 16, 2012 | By David Horsey
The good news is that $2.15 billion of Goldman Sachs' market value was wiped out by a disillusioned executive's very public parting shot at the investment bank's greed and selfish cynicism. The bad news is it will probably be a temporary loss and will do little to change the ethical climate at Goldman Sachs or in the larger world of Wall Street. Pirates are a hard bunch to reform. Greg Smith is the 33-year-old, London-based head of Goldman Sachs' overseas equity derivatives business who quit his job just minutes before his explosive Op-Ed article appeared in Wednesday's New York Times.
May 16, 2013 | By Robert Abele
South Korean provocateur Kim Ki-duk's new film "Pieta," about a cold, wraith-like loan-shark enforcer in a poverty-stricken village, is expectedly gruesome in some of its details. But it's the explicitness about capitalism's emotional wreckage that gives this micro-budgeted drama a gut-punch heft. Kang-do (Lee Jung-jin, working a thousand-yard stare) slaps, breaks, tortures and cripples the desperate small-time machinists of cramped, industrial Cheonggyecheon who owe his boss money.
July 10, 2012 | Jonah Goldberg
Why aren't more people furious about the LIBOR scandal? That's a question mostly being asked on the political left these days, and they're right to ask it. Here are the basics: Barclays is the second-largest bank in Britain and one of the largest in the world. It has admitted to U.S. and British regulators that it manipulated the London interbank offered rate, or LIBOR, which basically measures how much it costs banks to borrow money from one another for various periods of time.
November 26, 2013 | By Michael Hiltzik
Here's a denunciation of the financial system and income inequality that people all over the world will find hard to overlook, or ignore. Its author is Pope Francis, and the text is from his apostolic exhortation published this week , which addresses in part what he calls "a socioeconomic system...unjust at its root. " Selections from paragraphs 53-60. No further commentary required:  "Just as the commandment 'Thou shalt not kill' sets a clear limit in order to safeguard the value of human life, today we also have to say 'thou shalt not' to an economy of exclusion and inequality.
July 5, 2009 | Barbara Demick
In the markets of Kilju, a city of 100,000 near North Korea's eastern seacoast, the ruling Korean Workers' Party has ordered the removal of Chinese-made cookies, candies and pharmaceuticals. Even soybeans, many articles of clothing and shoes are now forbidden. It is all part of a great leap backward taking place in the secretive autocracy.
March 25, 1990
Although Calendar isn't the best forum to debate capitalism, Russell Dvonch's March 18 letter defending greed demands a response. The reason capitalism is theft has to do with "surplus value"--the difference between the selling price and the cost of equipment, materials, marketing and labor. All down the line, "profit" is really the result of unpaid labor that creates additional goods without commensurate additional cost. The capitalist claims this profit by virtue of his capital alone, which in most cases is the result of economic, racial and social inheritance, not hard work.
August 16, 1990 | MICHAEL SCHRAGE
It takes money to make money. Money makes the world go 'round. One thing's sure and nothing's surer: The rich get richer and the poor get . . . Life in the global marketplace is filled with such enduring truisms. That's why American industry gets the jitters when economists warn of an impending "capital crunch" as Eastern Europe seeks mega-billions to rebuild itself. And U.S. business gets the heebie-jeebies when it looks at Japan's tsunami of capital spending.
September 15, 1985
I got a natural high reading Dennis McDougal's interview with Mike Mitchell ("First Live Aid, and Then--the World," Sept. 8), chief-orchestrator of the Live-Aid telecast. And to his question, "What's wrong with earning a living while promoting social justice?," I reply: Nothing! Full-speed ahead! People like Mitchell give capitalism a good name. We need more propounders of the philosophy that profit does not necessitate exploitation; that, in fact, one can make money while benefiting humankind.
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