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ANCYLThe tragedy – and most severe critique of the South African Left – is that Julius Malema and the ANC Youth League were allowed to hijack the struggle for economic freedom, for their own opportunistic and demagogic purposes. It would thus be a big mistake for the...
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 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...
While North America and Europe were hard hit, China has survived the international crisis of 2008, thanks to huge public spending, a low interest rate and consumption subsidies. China’s growth rate reached 9% in 2009 and 10.4% in 2010; in its wake, China dragged Asia...
“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...
Philosopher and Critical theorist Slavoj Zizek, says he’s not an optimist when it comes to Europe and the broad political and ideological struggle in the continent and the world. But he salutes the demonstration of the British workers and the awackening “of some kind...
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...
As a new unelected government of 'National Unity' takes office Matthaios Tsimitakis writes on the deepening political crisis in Greece. While European elites are sinking within their inability to overcome ideological biases and national fears mainly coming from the...
The G20 is no more legitimate than its progenitor the G7 (Canada, France, Germany, Italy, Japan, UK and USA). It was launched by the industrialized countries three years ago when they were beginning to feel the effects of the biggest economic crisis since the 1930’s....