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The End of an Era
Why do the International Monetary Fund (IMF), the World Trade Organization (WTO) and the World Bank– three of the most highly regarded international economic organizations-project a bleak road ahead for the global economy? Ominously, the World Bank warns of the possibility of a coming “lost decade” for economic growth. In January of this year, the […]
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Playing with Financial Fire
Capitalism, Marx said, is unceasingly prone to crisis. His observation applies as much to financial capital as to industrial capital, as the recent collapse of Silicon Valley Bank and Signature Bank of New York attest. In their pursuit of profits, banks make loans that borrowers cannot repay or back the loans with assets that lose […]
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Freeing America from the Quagmire of Inequality
The levels of wealth inequality we are currently witnessing in this country are unprecedented and alarming. The very richest among us have succeeded in grabbing ever more of the proverbial pie, and the trend is only worsening. Wealth inequality is proving disastrous for America. On both collective and individual levels, we are suffering because of […]
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Standing Together: Resisting the New Normal
The US wanted Russia to attack Ukraine. So says Robert H Wade, professor of Global Political Economy at the London School of Economics. And then it brought in its wide-ranging sanctions regime in response. According to renowned investigative journalist Seymour Hersch, the US subsequently blew up the Nord Stream 2 gas pipeline. The result is that […]
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