Saturday, October 04, 2008

Sociologist Walden Bello's "Primer on the Wall Street Meltdown"


For those of us who still don't fully comprehend the details of what occurred--even if we're not surprised, but still horrified at what has come to pass.

Walden Bello writer/activist/scholar, "is president of Freedom from Debt Coalition, senior analyst at Focus on the Global South, and professor of Sociology at the University of the Philippines" where he teaches political economy. Bello's article was originally published in Inquirer.net "Philippine News for Filipinos" on October 1st, and reprinted "for educational purposes" in the Monthly Review's online publication on October 3rd, as well as on Focus on the Global South's website. (Of course once you have a better grasp of globalization, it becomes plain that Philippine news isn't only relevant for Filipinos.)

Check out the primer here. Bello does a great job, using a Q&A structure with the questions most people are likely to ask, and his responses for the most part accessibly identify all the threads, and explain how they've combined to tear the US economy apart; and how it isn't over yet. (If you want more you can also read Bello's "The Wall Street Meltdown: the View from Asia".)

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