Wednesday, January 22, 2020

BUKHARIN & VEBLEN ECONOMIC THEORY OF THE LEISURE CLASS

Nikolai Bukharin 1927

Economic Theory of the
Leisure Class


Source: Economic Theory of the Leisure Class by Nikolai Bukharin;
First published: by International Publishers in 1927;
Transcribed: by Ted Crawford.

CONTENTS

1. Objectivism and subjectivism in political economy
2. The historical point of view and the unhistorical point of view
3. The point of view of production, and the point of view of consumption
4. Conclusions
1. The importance of the problem of value
2. Subjective and objective value; definitions
3. Utility and value (subjective)
4. The measure of value and the unit of value
1. The theory of utility by substitution
2. The amount of marginal utility and the quantity of commodities
3. The fixing of the value of commodities in various types of consumption; Subjective exchange value; Money
4. The value of complementary goods (the Theory of Imputation)
5. The value of productive commodities. Production costs
6. Conclusions
1. The importance of the problem of distribution; Formulation of the question
2. The concept of capital; “Capital” and “profit” in the “Socialist” State
3. General description of the capitalist production
1. Two causes for the overestimation of present goods
a. The difference in the relation between needs and the means for their fulfilment at various times.
b. The systematic underestimation of future goods.
2. The third cause for the overestimation of present goods; Their technical superiority.
3. The subsistence fund; The demand for present goods and the supply of such goods; The origin of profit.
1. Tugan-Baranovsky’s formula
2. Tugan-Baranovsky’s “logic”
3. Tugan-Baranovsky’s fundamental fallacy
Commanding Heights


Is to promote better understanding of globalization, world trade and economic development, including the forces, values, events, and ideas that have shaped the present global economic system. 


Nikolai Bukharin

Historical Materialism

A System of Sociology


Written: 1921
Source: Nikolai Bukharin "Historical Materialism", International Publishers, 1925
Online Version: Marxists Internet Archive (marxists.org) 2002
Transcribed by: Edward Crawford
Markup: Mathias Bismo


Following the author's plan in the Russian edition, the material in the original book was printed in two different sizes of type. The general discussion covering the entire field appears in larger type, and may be read without reference to the matter in smaller type. More detailed elucidations of certain subjects including additional references were printed in smaller type for the use of the advanced student and reader.

Some Kenyans say Chinese-built railway leaves them in the dust







By Duncan Miriri
KIU, Kenya (Reuters) - The soporific buzz of bees fills the abandoned train station at Kiu, a two-hour drive from Kenya's capital Nairobi. Rusting rail sleepers lay on the grass outside; a slender snake slithers away after footsteps disturb his sunbaked snooze.
A new Chinese-built rail track lies about 500 meters away from the old colonial-era railway station, which closed down in 2012. But the new high-speed trains thunder through without stopping; Kiu is just a dusty blur glimpsed through the window.
Residents of this eastern Kenya town serving 6,000 people, feel bereft without their station and the old railway line, which they depended on to get to work, or the nearest hospitals. Traveling by road is a slow and costly alternative.
Opened in 2017, the new $3.3 billion railway is part of China's "One Belt, One Road" initiative, a multi-trillion dollar series of infrastructure projects upgrading land and maritime trade routes between China and Europe, Asia and Africa.
The new railway sliced travel times in half for passengers and cargo traveling between the capital Nairobi and the port city of Mombasa. The non-express service takes just over four hours to make six stops but only runs once a day, a steep reduction from the 46 stops of the old service that ran twice a day.
"This new railway is just for the rich. We do not benefit," said Thomas Mutevu, a welder in Kiu.
He used to commute to work in Nairobi by train every day, he said. But now the train no longer stops and it is too far and expensive by road, he has stopped commuting. Other Kiu residents who work in Nairobi now only come home at weekends, he added.
State-run Kenya Railways said the new line has boosted local travel. Passengers surged to 1.765 million in the year to June 2019, up from 1.239 million in the year to June 2018, as people who used to travel by road or air opt for the new train.
Cargo was up to five million tonnes last year, although some businesses complain they are being forced to use the new line.
The new rail sliced Emily Katembua's farm in half. Although she was compensated, she struggles to get to the market without the train.
"The government should put a station here so we can benefit since we are traders who need to travel and sell our produce," she said, surrounded by goats and sheep.  
Vegetable seller Margaret Njeri struggles to see a doctor without the old train. The nearest hospital is 24 kilometers away, mostly on an unpaved road.
Residents must now pay about 500 shillings ($4.93) to get there by motor-bike and minibus, five times what it used to cost on the old rail, they said. Taxis are only for emergencies – they cost 10,000 shillings, almost a month's wages for a laborer.
"We have to wait on the road many hours for transport because the new railway does not have a stop here," said Njeri.
Some want the old line, dubbed "the Lunatic Express" when British colonialists built it more than a century ago as it cost the lives of thousands of construction workers from British India and was considered a huge waste of British taxpayers money, revived as an attraction.
"It should actually be a steam train so you can actually see the smoke," said Mohammed Hersi, the chairman of the Kenya Tourism Federation, a private sector lobby. "That would be something special."
For photo essay click on: https://reut.rs/3aACTFZ
(Additional reporting by Baz Ratner; Editing by Katharine Houreld and Alexandra Hudson)

Credit Suisse says Mozambique liable for $622 million loan at heart of bribery scandal


JOHANNESBURG (Reuters) - Credit Suisse has hit back against Mozambique in a case in Britain's High Court, arguing a government guarantee for a $622 million loan - part of a $2 billion debt scandal - is valid and that it is entitled to claim damages.
Mozambique sued the investment bank last year, alongside a number of other defendants, in a bid to cancel the guarantee and seek compensation for losses related to the debt saga, which tipped its economy into crisis.
Credit Suisse rejected Mozambique's arguments in its defense papers and submitted a counter claim, dated Jan. 21, requesting the court declare the guarantee binding and arguing it is entitled to seek interest and damages, namely the money it says it is owed.
"The claims against CSI and CSLB are denied in their entirety," the papers said, referring to Credit Suisse International and its London branch. "CSI and CSLB are not liable to pay any damages, compensation or indemnity."
Credit Suisse and Russia's VTB bank provided or helped arrange financing, granted in 2013 and 2014, for a project spanning tuna fishing, maritime security and shipyard development, which U.S. authorities now say was an elaborate front for a bribery and kickback scheme. Hundreds of millions of dollars went missing.
Mozambique is trying to claim hefty sums that the country has paid or still owes under the agreements, which also included an $850 million eurobond, now restructured, and a $535 million loan from VTB , as well as compensation for economic losses.
A series of court cases spanning three continents has ensnared three former Credit Suisse bankers, Mozambique's former finance minister and its former president's son. However, Mozambique's action against Credit Suisse is the only one to target the bank itself.
The country says Credit Suisse employees, and therefore the bank, knew that large bribes were being paid and that guarantees for the loans exceeded limits set out in law, or were wilfully blind to it.
Mozambique's Attorney General's Office did not immediately respond to a request for comment.
VTB earlier this month lodged its own lawsuit in Britain's High Court suing a Mozambique state-owned company over the $535 million loan.
All of the lending for the project was guaranteed by Mozambique's government, though some of it was not disclosed. The International Monetary Fund and other donors cut off support to Mozambique when the additional borrowing came to light in 2016, triggering a currency collapse and debt default it is yet to fully recover from.
(Reporting by Emma Rumney; Editing by Kirsten Donovan)
BUDDHIST FASCISM

Rohingya refugees pray for justice as court to rule in genocide case


By Ruma Paul
COX'S BAZAR, Bangladesh (Reuters) - Rohingya refugees who fled persecution and violence in Myanmar are praying for justice as the International Court of Justice (ICJ) in The Hague prepares to deliver an initial verdict on Thursday in a genocide case filed against Myanmar.
More than 730,000 Muslim Rohingya fled an army offensive in Myanmar's Rakhine state in 2017. The United Nations says gang rapes and mass killings were carried out with "genocidal intent". Hundreds of villages were burned to the ground and later razed. Myanmar denies the charges of genocide.
Gambia has asked the ICJ to order "provisional measures" to prevent more harm, a first step in a legal case that is expected to run for years. It has also asked judges to order Myanmar to ensure any evidence of atrocities is preserved.
At the world's largest refugee camp in Bangladesh, where the Rohingya who fled are settled, many hope for a ruling in their favor after years of persecution.
"The Burmese (Myanmar) government and the army tried to wipe out the entire Rohingya community. We want justice," said 30-year-old refugee Nurul Amin, who fled to Bangladesh with his pregnant wife during the 2017 army crackdown.
Mohammed Zubair, a 19-year-old teacher living in the camps, said Myanmar "must be held accountable for the horrific crimes".
"We saw so many people killed before our eyes. All we could do was run while our villages were burned down," he said.
The refugees have urged Bangladesh authorities to restore internet connectivity in the camps - curtailed due to what the Bangladesh government says are security concerns - so they can watch the court deliver its verdict.
"ONLY JUSTICE CAN HEAL OUR WOUNDS"
The Rohingya are demanding to be allowed to return to their homes in Myanmar in safe and secure conditions.
Buddhist majority Myanmar says its forces have been waging a counter-terrorism operation against an armed insurgency in Rakhine state. Myanmar also says the U.N. court should have no jurisdiction on the issue and views its interventions as a violation of its national sovereignty.
A Myanmar government-appointed panel established to probe allegations of abuses against the Rohingya said on Monday it had found no evidence of genocide. Rohingya leaders branded the probe a "whitewash".
The quest for justice has been an intensely emotional one for many refugees at the camps who said they saw their family members killed.
"The killers of my son must all be punished," said 65-year-old refugee Nur Alam, whose son was allegedly shot dead by a Myanmar soldier. "Only justice can heal our wounds."
(Writing by Zeba Siddiqui; Editing by Euan Rocha and Gareth Jones)

Shafted elevator builder gets his job back after accusation of being high on the job

Ryan Prime has been exonerated from claims of being high on the job.
Ryan Prime has been exonerated from claims of being high on the job. - 123RF Stock Photo
HALIFAX, N.S. — 
A grievance concerning an elevator builder accused of being high on the job turned out to be an open and shut case.
Ryan Prime was part of a two-man team installing elevators in a new seniors complex in Hammonds Plains when he was accused last October of smoking weed one morning before work.
He was terminated from his job with Kone, Inc. for breaching its drug and alcohol policy by allegedly smoking marijuana.
Prime’s union grieved the dismissal, and arbitrator Eric Slone ruled in Prime’s favour on Saturday after holding a hearing last week.
“Elevator construction is dangerous work, and there is no place for employees whose faculties are impaired by intoxicants, whether they are legally available or not. Such a person would be a risk to himself, his co-workers and other people who might be present at the time,” Slone wrote in his decision. “On the other hand, an individual who is accused of being in breach of such a policy, with the serious career and financial consequences that it brings, is entitled to have the case against him proved properly.”
The project manager on the site, David Plummer, testified that as he walked from his vehicle to the site on Oct. 22 he was close to Prime’s parked Jeep, and smelled what he believed to be cannabis. He also saw a smoky haze and what he described as a furtive gesture by Prime, sitting in the vehicle.
Later, Plummer spoke to Prime’s supervisor, who then consulted a manager. Those two consulted the company’s policy and decided to terminate Prime.

'the evidence of Mr. Plummer has some inherent weaknesses.'

When the supervisor handed Prime a termination letter, Prime became upset and adamantly disputed that he had been smoking marijuana. He admitted that he did smoke marijuana when not working, and showed the supervisor a bag of marijuana that he had in his car.
During the arbitration hearing, the supervisor conceded that he saw no signs of impairment when he was with Prime that morning. He testified that he took the word of Plummer over that of Prime because he didn’t believe Plummer had any reason to make up the allegation.
Prime’s testimony was that he does smoke marijuana in his vehicle, typically after work while waiting to pick up his wife.
He said his vehicle did smell strongly of marijuana even when he was not actively smoking, which he knew because other people had noticed it.
Prime also said he was aware of the company’s drug and alcohol policy and supported its objectives, because elevator work is inherently dangerous.
In his decision, the arbitrator said the only evidence to support the termination was Plummer’s evidence that he smelled marijuana as he walked by Prime’s Jeep.
“The employer’s case is that if Mr. Plummer smelled marijuana, then the grievor must have been smoking marijuana,” wrote Slone. '... the evidence of Mr. Plummer has some inherent weaknesses. Mr. Plummer did not see much of anything. The evidence that he saw the grievor become startled and move to conceal something, does not mean much.
“It all comes down to what Mr. Plummer smelled. Did he smell fresh marijuana smoke, or the fumes from a vehicle which had been smoked in many times? While it is a matter of general experience that there is a distinct 'skunky' smell of marijuana that differs from most ordinary domestic cigarettes, there is no evidentiary basis to conclude that Mr. Plummer has a great deal of experience with the various types of smell that may be associated with cannabis.”
Slone also wrote that Prime’s habitual lateness likely played a part in Kone deciding to terminate him.
He ordered Prime reinstated with “full compensation for the losses that he has incurred.”
RELATED:

Newfoundland storm makes news around the world

This story, taken from the Tribune de Geneve’s website from Geneva, Switzerland, was one of many around the world that featured news about eastern Newfoundland’s record-breaking blizzard. SCREEN GRAB
This story, taken from the Tribune de Geneve’s website from Geneva, Switzerland, was one of many around the world that featured news about eastern Newfoundland’s record-breaking blizzard. — Screenshot

Blizzard amazes international observers

ST. JOHN'S, N.L. — 
The monster snowstorm that whipped through eastern Newfoundland last Friday dominated the news in much of Canada for the last several days, but the record-breaking blizzard — which dumped more than 90 centimetres of snow in some parts of the St. John's metro area and resulted in a state of emergency being issued — wasn't just big news here.
It grabbed people's attention around the world.
From the United States to the United Kingdom and France, to Turkey, Brazil and Australia, media outlets internationally featured stories and video footage of the storm and its aftermath in its newspapers, websites, TV programs and radio shows.
The Washington Post wrote, "Powerful blizzard slams Newfoundland: The storm underwent bombogenesis — and is still strengthening."
CNN featured the storm on its broadcast, saying, "Residents are digging their way out."
In the New York Post, Mike Wehner wrote, "Winter is well and truly upon us here in the States and while shovelling out from a couple of feet (or even just a few inches) of snow can be a real pain, that's nothing compared to what residents in Newfoundland, Canada, have had to endure."
It shows a photo gallery, including one of a resident walking in thigh-deep snow in downtown St. John's and a dog standing in front of a wall of snow that was seen when a patio door was opened.
In its broadcast, Fox2 Detroit TV station touched on some lighter moments of the storm, showing a video of a woman who left her windows of her car down, resulting in the inside getting covered in snow. The video has been shown in many other media outlets around the world and has gone viral.
In the Independent newspaper in the United Kingdom, the headline over reporter Samuel Lovett's story reads, "State of emergency called after-record-breaking snow buries entire neighbourhoods." The website version of the story also features video, showing garage doors opening to find a wall of snow, as well as footage of residents shovelling out their properties.
The Daily Mail in the U.K. wrote, "Terrifying moment: 'Bomb Cyclone' blizzard buries Newfoundland in 30 inches of snow as the province asks Canada's military for help digging out the island."
On its website, Ouest France posted a story under the headline, "Toute une villa canadienne ensevelie sous la beige par le blizzard," meaning, "An entire Canadian city buried under snow by a blizzard."
The Estadao news outlet in Brazil also featured storm coverage, but linked it with Calgary's weather.

"The Canadian government decreed a state of emergency on Saturday, the 18th, due to the situation faced by the population," it reads when translated, "Risk of road accidents and lack of energy were some of the consequences caused by heavy snowfalls."
"Blizzard in Newfoundland: army to the rescue," was the headline in the Tribune de Geneve in Geneva, Switzerland. It features a photograph of a car half buried in snow and a time-sequence video from a home, showing the rapid snowfall.
In Australia, Adelaide Now News, under the headline, "Crews work to clear snow after severe blizzard in Newfoundland and Labrador," video shows snowplows clearing mountains of snow from streets in a St. John's neighbourhood.
The New Zealand Herald wrote, "Bomb blizzard buries cars and homes with 3.5 metres of snow," noting that St. John's superceded its record for the most snow in 24 hours, recording 76.2 cms.
While coverage has slowed in many places outside the province, how the storm was managed here may have an impact elsewhere.
The Red Deer Advocate website featured an article under the headline, "Red Deer's emergency management team is watching to learn how Newfoundland handles its massive snowfall."
Twitter: @TelyRosie

Province will discuss emergency funding for workers in the coming days



Payday stock.
123RF Stock Photo
ST. JOHN'S, N.L. — 
The province has declined to say whether or not it will provide funding to lower-income workers whose paycheques have been affected by the state of emergency, indicating the issue won't be discussed until after current storm cleanup efforts are complete.
In an article published in Tuesday’s Telegram, Common Front NL, a coalition of organizations fighting for a higher minimum wage, called on the province to step in and offer subsidies to workers who aren’t being paid for missed shifts due to last Friday’s record-setting blizzard and the state of emergency that followed, banning residents in a number of communities on the Avalon Peninsula from leaving their homes.
The restrictions have been lifted in Mount Pearl, Conception Bay South and Torbay, but the state of emergency still exists in St. John’s, where snow clearing operations continue and services are resuming gradually.
Absent a contract or a collective agreement stating otherwise, employers are not obligated to pay their staff for days not worked, even if in a state of emergency, though many in the St. John’s area have chosen to do so.
With more than 70,000 workers in the province earning $15 an hour or less, the missed pay could mean the difference between being able to pay rent and not.
“We’re really hoping the government will step in and do some emergency funding, especially since there is so much support for it,” Alyse Stuart, chairwoman of Common Front NL, told The Telegram earlier this week. “I think we have a new perspective on what we need to do going forward and how, if this happens again, we are going to need to protect those vulnerable workers so if they are missing shifts, the government is able to step in and help them and give those folks the budget they need to survive the state of emergency.”
The province has an emergency social assistance program, which offers essential services to, according to the government website, “all those affected by wide-scale emergency or disaster in Newfoundland and Labrador.” The program provides temporary assistance until regular services resume or other programs are implemented.
Among the services provided by the program are emergency food, lodging, clothing and personal services like spiritual support and interpretation services.
The website also lists “alternate financial income” among the personal services provided.
The Department of Advanced Education, Skills and Labour didn’t say much when asked by The Telegram whether it would provide funding to affected lower-wage workers, or whether the state of emergency has triggered the emergency social services program to come into effect.
“The priority is a co-ordinated response to the current situation. These and other issues will be discussed in the coming days,” said a department spokesman.
Readers commenting on Tuesday’s Telegram story reiterated the call for emergency government funding.

“You would think that there would be something with an employers’ insurance in which they could recoup the wages they would have to cut,” posted one person. “I hope the government steps in and does something. But I have a feeling if they do it’ll be a long wait and vulnerable people will already be in the bad position of not being able to pay their bills or eat.”
“For small businesses it could really affect these owners if they had to pay when they cannot open and make money,” wrote another person. “On the other hand, those in low-income situations will need help for the lost income if their employers can’t do anything for them.
“It’s not about money, it’s about quality of life and there’s got to be something to help those in need.”
Twitter: @tara_bradbury

Related