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Answer: what do you think they've been doing? On Monday, the Greek Prime Minister announced that his government would hold a referendum on the latest Euro austerity package. And look at the reaction to this ostensible democratic naivete. Stock markets slide...
Q: In the context of global crisis, what is at stake at the G20 meeting under French presidency? The crisis is worsening, especially for the most industrialized countries. The governments of the so called "emerging" countries such as Brazil, China, India and Russia...
Have so many ever been so enthusiastic over a plan to beg, borrow, and steal $1.5 trillion? •Beg - Weaker European banks will have to raise over $100 billion in capital. •Borrow - Eurozone will borrow $1.4 trillion to bailout future sovereign and bank defaults. •Steal...
Mat Little interviews the economist Harry Shutt about economic crisis and the left alternative. What marks Harry Shutt out as an economist is not that he predicted the financial crisis that struck in 2007 (two years before he warned of ‘an unavoidable financial...
The collapse of the American financial system that occurred in 2008 has since turned into an economic and political crisis of global dimensions. [1] How should this world-shaking event be conceptualized? Mainstream economics has tended to conceive society as governed...
The collapse of the American financial system that occurred in 2008 has since turned into an economic and political crisis of global dimensions. [1] How should this world-shaking event be conceptualized? Mainstream economics has tended to conceive society as governed...
As it has remorselessly unwound, the global economic and financial crisis has passed through a succession of turning points. The first came when the credit crunch began in August 2007. Then there was the collapse of Lehman Brothers in September 2008, precipitating the...
What if debt deflation strikes, will the Eurozone’s financial elite still bay for sound finance? Finance capital’s imposition of fiscal austerity on both sides of the Atlantic – and this at a time when private consumption and investment are stagnating – is pushing the...
John Maynard Keynes keeps a main influence on the current economic thinking. Even if the neo-liberal movement dominated over the last decades, the Keynesian ideas remain enduring, especially at times of recession. When the subprime mortgage crisis started, it was...