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Both major wings of contemporary mainstream economists—'Retro Classicalists' and 'Hybrid Keynesians'—fail in fundamental ways to understand the qualitative characteristics of the economic crisis that continues to impact the U.S. and global economy. Neither wing has...
It’s that time of the decade again. In June we will see the world’s attention focus upon another United Nations-sponsored international environment conference in Rio de Janeiro, Brazil (“Rio+20″). Twenty years ago the UN’s conference at the same venue took place in an...
It was not solely disrespect for reserve bank governor Gill Marcus that saw many delegates to the National Union of Metalworkers (Numsa) congress largely ignore her speech last week. Nor was it, as general secretary, Irvin Jim, maintained, because the chattering...
Faced with an even more complex and deeper crisis, capitalism is launching a fresh attack that combines the old austerity measures with an offensive to create new sources of profit and growth through the “Green Economy” agenda. No to the Green Economy I. A New Phase...
Very near the Dulles International Airport west of Washington last weekend, I found myself a couple of dozen meters away from a formidable gathering of 150 powerbrokers – the Bilderberg Group (named after a Dutch hotel) – whose capacity to move money and influence...
Twenty years since the Rio Earth Summit, Ian Rappel looks at the growing ecological crisis and how we can rekindle resistance. It's that time of the decade again. In June we will see the world's attention focus upon another United Nations-sponsored international...
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...
Just before last weekend’s meetings of the World Bank and International Monetary Fund (IMF) board in Washington, South Africa's finance minister dropped us an obscure news item: “Gordhan concerned about rand volatility”(Reuters, April 16). Hidden away in the business...
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...