Category: Economics

Paul Street: Yes, There is a Ruling Class

A look st Wall Street’s Think Tank: The Council of Foreign Relations and the Empire of Neoliberal Geopolitics, 1976-2014, by Laurence Shoup

Patrick Bond: Can World’s Worst Case of Inequality be Fixed by Pikettian Posturing?

Entering South Africa this week, stage left, is the celebrated economist Thomas Piketty, whose ideas are already much used and abused

Walden Bello: China’s Stock Market Crash: Symptom of a Bigger Crisis

The spectacular cratering of the Shanghai stock market, which lost nearly 40 per cent of its value in just 10 weeks, is a sign of a much bigger problem: the crisis of the country’s 30-year-old export oriented rapid growth economy

Ellen Isaacs: Hurricane Sandy Is Still Drowning The Poor

It is a few months short of three years since Hurricane Sandy barreled down on NYC. The flooded subways have new barriers. The submerged hospital generators are back in order. The boardwalks along the shore are up and trod by beachgoers once again. But what of the thousands of poor renters, most on public assistance, who lost their homes that day? I don’t know all their stories. I only know one intimately, and it is not a happy story.

Jack Rasmus: Global Corporate Cash Piles Exceed $15 Trillion

The global economy is slowing – from China to Brazil to South Africa and beyond. Currency wars initiated in 2013 by Japan’s introducing a ‘quantitative easing’ (QE) monetary policy, intensified in 2015 by Europe introducing its own ‘QE’, and exacerbated still further by Saudi Arabia initiating a global oil price war to bankrupt U.S. shale Read more…

Jack Rasmus: The New Colonialism: Greece & Ukraine

What both Greece and Ukraine represent is the development of new more direct management of wealth extraction, and the transfer of that wealth in the form of financial assets

Jay Arena: A People’s Reconstruction

A real post-Katrina revitalization of New Orleans would have meant more jobs and public services, not cutbacks and privatization

Yanis Varoufakis: Varoufakis in conversation with leading academics as Syriza splinters and election beckons in Greece

Questions for an “accidental economist

Pete Dolack: Speculators Circling Puerto Rico

Puerto Rico’s governor may have said the commonwealth’s debt is not payable, but that doesn’t mean Puerto Ricans aren’t going to pay for it. Vulture capitalists are circling the island, ready to extract still more wealth. You may already know the drill: capital is sucked out by corporate interests that pay little in taxes, and speculators swoop in

Jack Rasmus: China vs. the IMF

Behind the IMF’s decision to refuse China’s currency reserve status is U.S. commitment to protect its hegemonic role in the global economy

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