Saturday, November 5, 2011

Structural Adjustments - applied at home

Immanuel Wallerstein's 'World-System's Theory' talks about the relationship between the Core (ex. United States), Semi-Periphery (ex. Brazil), and Periphery (countries in Africa for example)... this relationship was one of exploitation by the Core of the others.  A piece of this was something called "Structural Adjustments", in which the Core (through groups like the IMF) would loan money to the periphery knowing that they couldn't repay, then we'd loan more (or forgive loans) with certain stipulations... we'll give you more money IF you'll open more markets to international companies, stop paying welfare, do away with common property, etc. 

The general pattern sounds exactly what has been applied now to parts, if not all, of the United States. 

I've written earlier about the US Postal Service (HERE)... the Daily Yonder had a piece this week about the "deal" that's being struck to "save" it HERE.  An excerpt:

"It would allow the Postal Service to tap into a multibillion retirement fund surplus to ease current financial problems. "

"Too many people still rely on the Postal Service for us to sit back and allow it to collapse," said Lieberman, whose committee oversees the Postal Service and plans to debate the bill next week.

"The Postmaster General made it very clear to us that he needs the ability to cut $20 billion from the Postal Service's annual budget. We're giving him and his employees ... the tools to achieve that significant amount of savings," he said."...

"Congress has used postal service retirement fund surpluses to fund normal government operations. The surplus amounts to $15 billion. The proposed bill would allow the postal service to use $7 billion to offer buyouts and retirement incentives to cut the workforce."

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