The power of poverty — rather than consumer sovereignty — determines the rational choices of “our people”.
How the longevity of absurd economic theories shortens the lives of untold millions
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economics
Knowledge. The final frontier
Some suggest that unemployment rates are high because of laziness or a dependency effect created by social grants, but numerous studies have failed to find empirical support for these claims. The one drum of this kind that continues to be beaten is the claim that...
Time to stop the tax cuts
'There is no money!' This is the standard response to the demands with which the government continues to be bombarded by people whose basic needs have still not been met after nearly 20 years of post-apartheid rule. People in South Africa are angry and impatient in...
Economics for people
Amandla! introduces a new column: Economics for people. In this column we demystify basic economic processes, concepts and debates so that activists are able to participate better in the struggles over the nature and direction of economic policy. One of the factors...
Economics for people
Amandla! introduces a new column: Economics for people. In this column we demystify basic economic processes, concepts and debates so that activists are able to participate better in the struggles over the nature and direction of economic policy. One of the factors...
The Endless Crisis | by John Bellamy Foster and Robert W. McChesney
We have had [in England], ever since 1876, a chronic state of stagnation in all dominant branches of industry. Neither will the full crash come; nor will the period of longed-for prosperity to which we used to be entitled before and after it. A dull depression, a...
Reflections on the Current Crisis and Its Effects | by Rémy Herrera
The crisis of capital at the present juncture when capitalism is deeply financialised is extremely difficult to resolve. The main structural problem of the system is the downward pressure on the rate of profit, but further financialisation is no longer a sustainable...
The growth paradigm: a critique | by Gareth Dale
In respect of climate change, the hurricane that tore into New York was the game changer. The floods it unleashed forced the authorities to organise a mass airlift evacuation of much of the city’s population, and to begin planning the relocation of the city’s stock...
Economics: selling the truth, or telling the truth? | by Khadija Sharife
The fundamental market theory of equilibrium, in economics, can be compared to notions of justice conceived in other disciplines, such as electoral democracy and politics. After centuries of trading trials and wars, we were told by leading governments (who may be...