Category: Economics

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Walden Bello: Contagion: how the crisis spread

Were there commonalities between the financial crisis that happened in the US, and the one that hit Europe? If so, what were they? One common factor in the US and Europe was unregulated, undisciplined finance capital. First, European banks, including German banks, bought huge amounts of toxic subprime securities and as a result they saw their balance sheets Read more…

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Noam Chomsky: Myths of Globalization

Since the late 1970s, the world’s economy and dominant nations have been marching to the tune of (neoliberal) globalization, whose impact and effects on average people’s livelihood and communities everywhere are generating great popular discontent, accompanied by a rising wave of nationalist and anti-elitist sentiments. But what exactly is driving globalization? And who really benefits Read more…

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Dean Baker: Interest Rate Hike Will Hurt Jobs Growth

The Federal Reserve’s interest rate hike will slow jobs growth, but is probably being done to please Wall Street

Lawrence Mishel: The zombie robot argument lurches on

There is no evidence that automation leads to joblessness or inequality

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Walden Bello: Europe’s Faustian Bargain with Big Finance

Europe’s social democrats played a central role in unleashing the financial sector that created the European economic crisis that continues to today

Rubrick Biegon: Trump’s “War on Trade” in the Americas

Will Trump’s mercantilist approach to trade threaten a more coercive economic regime, or will it follow traditional conservative trade policy?

Pete Dolack: Austerity Never Ends

No, you can’t really make this stuff up: orthodox economists continue to tell us that the reason for ongoing economic stagnation is that wages and unemployment benefits are too high. Yes, that’s right. You haven’t suffered enough

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Noam Chomsky: Income Inequality

Excerpt from Noam Chomsky’s new book, Requiem for the American Dream: The Ten Principles of Concentration of Wealth and Power

Pete Dolack: Housing is a human right

A basic problem of housing it this: Housing is a commodity instead of a human right. We’re not accustomed to seeing housing as a basic right for everybody, but why isn’t it? Other than food and water, what is more basic a need than shelter? It is here that questions about why the cost of Read more…

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Patrick Bond: G20 threat to Africa

At the World Economic Forum-Africa, Germany pitched a dubious new G20 corporate strategy

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