Some Good Pro-Communist Articles on the Financial Crisis

I thought this was a good article on how we should approach the financial crisis.

Capitalism happens. When and where it does, capitalism casts its own special shadow: a self-critique of capitalism's basic flaws that says modern society can do better by establishing very different, post-capitalist economic systems. This critical shadow rises up to terrify capitalism when -- in crisis periods such as now -- capitalism hits the fan. Karl Marx poetically called that shadow the specter that haunts capitalism.

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Here is another one that I thought had some good insight into why the rush for huge bailouts is a bad idea.

One of the most striking things about the reaction to the current financial meltdown is that, as one of the participants put it: ‘No one really knows what to do.’ The reason is that expectations are part of the game: how the market reacts to a particular intervention depends not only on how much bankers and traders trust the interventions, but even more on how much they think others will trust them. Keynes compared the stock market to a competition in which the participants have to pick several pretty girls from a hundred photographs: ‘It is not a case of choosing those which, to the best of one’s judgment, are really the prettiest, nor even those which average opinion genuinely thinks the prettiest. We have reached the third degree where we devote our intelligence to anticipating what average opinion expects the average opinion to be.‘ We are forced to make choices without having the knowledge that would enable us to make them; or, as John Gray has put it: ‘We are forced to live as if we were free.’

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