Friday, January 31, 2025

THE BANKS ARE (STILL) MADE OF MARBLE

 I want to thank you all for your kind birthday wishes.

Reflecting on my birthday, metaphorically, I was thinking that

old songs might still have some use (even though times change).

Below are some links to old songs that still make sense.

 

Harry Targ


Pete Seeger, “The Banks Are Made if Marble”

https://www.youtube.com/watch?v=x-o3CJytIPE

 

 

·                                                          money.cnn.com

 (from December 17, 2017 but still relevant)

The United Nations Office of the High Commissioner for Human Rights issued a report written by its representative, Philip Alston, after an extensive visit to the United States. The report was called “A Journey Through a Land of Extreme Poverty; Welcome to America” and was based on personal observations and an examination of longitudinal and comparative data. He found in California, West Virginia, Alabama, Puerto Rico and elsewhere extremes of poverty and inadequate access to housing, health care, education, and other social needs. He noted that along with the increasing economic misery for the many there was a growing concentration of wealth for the few (the guardian.com, December 15, 2017)

In an NPR interview Alston noted that every other wealthy country provides more for its citizenry than the United States and is more equal in wealth and income. China, he said, a newly developed country, has lowered the gaps in wealth, income, and social well-being more effectively than the United States over the last 15 years.

Paradoxically, this damning report appeared at the same time as the Congress and the President are finalizing a new tax bill that will dramatically increase wealth, income, and security for the tiny ruling class at the growing expense of the vast majority of the United States population: workers, women, African Americans, immigrants, and children, youth, and the elderly.

Many economists are systematically analyzing the impacts of these negative economic trends across time and the draconian effect the new tax bill will have on the whole structure of reform programs that were put in place since the Great Depression of the 1930s. But sometimes the analysis, critique, and call for action is most effectively reflected in song. 

Thus the repost below from New Clear Vision, August 10, 2011

Sometimes We Have to Sing and Cry and Hit the Streets…

 Harry Targ

I’m not a Red Diaper baby. I didn’t read Marx until the 1970s. I don’t know when I decided I was a Marxist. I didn’t start teaching Marx and political economy until the late 1970s. But I became a small “r” red when I first heard the folk group, The Weavers in the 1950s. Then on to Pete Seeger alone, Woody Guthrie, Cisco Houston, and later Arlo Guthrie, Phil Ochs, and even Kris Kristofferson and Bruce Springsteen.

I still listen to the music that makes me angry, makes me cry, and makes me want to hit the streets. I forget the fine tuned lectures I listen to (and even give) on neoliberal globalization, the tendency of the rate of profit to fall, over-production and under-consumption, and financialization — and break into song and tears as I hear the old music in the car or at home.

 

The Bookshelf

CHALLENGING LATE CAPITALISM by Harry R. Targ

Read Challenging Late Capitalism by Harry R. Targ.