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2011 Abstracts Stage 3

Philosophy Behind Recession: a Study of Contemporary Economics Through Philosophy

Jamie Hackett, 2011, Stage 3

An investigation on how the US reached a destination of an estimated 200 trillion in debt. How is it that America can possibly be named the Land of the Free? In a country with a constitution claiming ‘all men are created equal’; why is it that 15% of the population live below the poverty line? Can the ‘poster boy’ of Capitalism be considered moral? The USA is an economic powerhouse with an annual GDP of 14.6 trillion dollars. However, 42% of $14.6 Trillion is controlled by just under 1% of the population.

I intend to investigate the evolution of the global capitalist economy and its current state of disarray. Marxist rhetoric will serve, amongst several thinkers such as Engels, Machiavelli, Ayn Rand, Sun Tzu and Emmanuel Levinas in investigating the evolution of the US Capitalist system.
Oliver Stone’s Wall Street, a damning indictment of corporate America, will be used as the cornerstone for my arguments against big business and the ever widening gulf between the rich and the poor.

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