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The global political economy is likely to remain in crisis for at least another three to five years, with high unemployment and slow growth. The character of this period makes a grim cyclical crisis worse by adding to it both a financial component and a deeper...
The economic storm triggered by the 2008 financial crash in the USA and Europe led to the loss of more than one million jobs in South Africa. Today we know that the crisis never really abated.How could it? Claims for hefty profits, wheedled through strange and complex...
A slow dawn of realisation is setting in among sensible elites: that the world economy isn’t going to recover according to any prior experience, that financial markets are rigged to transfer from the 99% to the 1%, and that ecological barriers are emerging fast on the...
The economic crisis that has shaken the world may have started in Wall Street, but it has been made much worse by the actions of both the European institutions and European member states.Much of the so-called debt crisis was caused not by states spending too much, but...
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“Italy is now mathematically beyond the point of no return.” –Barclays Capital The situation in Europe gets more depressing by the day. Policymakers have waited too long and now events are beyond their control. The only way to avert a disorderly breakup and another...
ABSTRACT: In Greece and other countries of the Eurozone there are a number of misconceptions about the debt crisis. I argue against seven of such misconceptions (or, myths) about the effects of default, the primary cause of the crisis, the likely effects of an exit...
Not judging by this year’s long-range response from the National Planning Commission’s talented technical, political, civil society and business thinkers. Its fascinating diagnostic analysis of why South Africa is beginning to slide off the rails is negated by the...
“THE CRISIS OF 2007-2009, coming from the U.S. core of the globalized system, the crisis that threatens the weak links of the euro, and the third crisis that started to affect Eastern Europe in 2009 have a major common point. Whether we are talking about the United...