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What has the South African government delivered in 20 years? A massive welfare state with 16 million grant recipients (nearly a third of the population); 95% of the people served with clean water access; a rising rate of matriculation by 12th graders; a dramatic...
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...
European Union's 2010 greenhouse gas emissions rise of 2.4% blamed on cold winter and economic recovery in some areas Greenhouse gas emissions for the European Union increased in 2010, despite the economic recession and policies intended to tackle climate change. The...
May brought home to the world evidence of the popular rejection of the irrational pursuit of austerity amidst recession in Europe and elsewhere. One telling signal was the victory of Francois Hollande in the French Presidential run-off, making this the first...
Friday, June 1, is a date that marks a shift in the public consciousness of the state of the US and global economy. What was touted for months over the past winter as a rebound taking hold in the US economy and that the US economy was ‘exceptional’ and would not...
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...
Occupy Wall Street and the Politics of Financial Morality We’ve been at war for decades now -- not just in Afghanistan or Iraq, but right here at home. Domestically, it’s been a war against the poor, but if you hadn’t noticed, that’s not surprising. You wouldn’t often...
All recent economic indicators point almost unambiguously to a new global recession, one which threatens to be more severe and prolonged than the 2007 crisis. While the epicentre of this developing crisis is located in the metropolitan countries, specifically the EU...
COSATU General Secretary, Zwelinzima Vavi’s, input to a meeting with French President Nicholas Sarkozy, Cannes, France, I am a trade unionist from South Africa a country with the highest rate of unemployment when compared to other middle-income countries. South Africa...