Category: Economics

Nick Dearden: Behind the Bankers’ Mask

The economic crisis has led activists in countries such as Greece and Ireland to look to developing countries for models of how to fight an all-powerful, self-serving financial system that forces ordinary people to pay the price for its failures. From Dublin to Harare, the call for ‘debt audits’ is being taken up as a Read more…

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Jérôme Roos: Are the Rich Starting to Get Scared?

It was a week of opposites. As stock markets around the world continued to nosedive into financial meltdown, the world’s third wealthiest man told US Congress to stop coddling the super-rich; Forbes, the ultimate magazine of the rich and famous, warned about the “coming global class war“; and Nouriel Roubini, one of the world’s leading economists, told the Wall Read more…

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Ron Daniels: Implanting a “Black Footprint” on an Economic Renaissance for Haiti

August is a momentous month in the history of the African world. August 17th marked the birthday of the Honorable Marcus Mosiah Garvey, arguably the greatest mass organizer in the history of the Pan African movement. August 14th was the anniversary of Bwa Kayiman, the gathering in northern Haiti convened by the spiritual leader Boukman in Read more…

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Dean Baker: Shorter Weeks, Longer Vacations

The United States is suffering the enduring effects of a collapsed housing bubble, not a financial crisis. This is an important distinction, because it points to the necessity of relying on shorter workweeks and longer vacations to return to full employment. The financial crisis is largely irrelevant to the economy's current weakness. The problem is Read more…

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Richard D. Wolff: Deficits, Debts, and Deepening Crisis

Standard and Poor's downgrades US debt, stock markets gyrate around the world, Sarkozy and Merkel perform yet another empty summit, the Chinese and Japanese economies look worrisome. Serious commentators worry about global recession, another global banking collapse, eurozone dissolution, and austerity programs that only make matters worse. Nouriel Roubini, famed Professor at NYU's Stern School Read more…

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Mark Weisbrot: The “Debt Crisis” Myth

The prevailing understanding of economic troubles in the U.S. and Europe, the world's two largest economies, is mistaken in a number of ways. First: Imagine that you are driving a car down a road packed with snow and ice and you are worried about an accident. At the same time you are ignoring the fact Read more…

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Paul Street: Beyond the Tea Party

Elite pundits and other members of the political class love to blame the Tea Party for the ever more insane rightward drift of American politics and policy that has been on terrible display in 2011—culminating in the “debt ceiling deal” of August 2, 2011, when the conservative Democratic president Barack Obama signed on to a Read more…

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Noam Chomsky: Crisis and Hope: Theirs and Ours

This article is based on a talk delivered June 12, 2009, at an event sponsored by the Brecht Forum.   Perhaps I may begin with a few words about the title. There is too much nuance and variety to make such sharp distinctions as theirs-and-ours, them-and-us. And neither I nor anyone can presume to speak Read more…

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Judy Rebick: Socialism in the 21st Century

“We are building socialism of the 21st century, socialism with participatory democracy,” the young political science student told me at the beginning of the opening demonstration of the seventh World Social Forum in Caracas, Venezuela. This is one of three social forums this year in what they call the Polycentric Social Forum. One just wound Read more…

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