Richard Westra argues that changes across the capitalist world at the turn of the 21st century put into play a global financial system which operates as a reincarnation of ancient usury. Capitalism had tamed the activities of money lending and tethered finance to expanding production of material goods and increased social wealth. But, as the 20th century drew to a close, with capital no longer scarce as exemplified by the aimless bloating of varying categories of funds, finance again turned to its dark side. Wealth for the few is expanded by expropriation and Himalayan levels of debt befalling the many! Like usurers of old the new Merchants of Venice are indifferent to how lent funds are used. And loan repayment is set arbitrarily, often exacting such a high cost that the borrower is ruined or forced to strive for the ruin of others. Big government becomes the handmaiden sweeping as much debt under the public rug as it can. Yet there is only so much in pounds of flesh left on the bones of humanity.
Monday, March 21st, 2:00 – 4:00 p.m., Room RB2228, River Building
Everyone welcome