Daron Acemoglu, Simon Johnson and James A Robinson have been awarded the Nobel (really the Riksbank prize) in economics “for studies of how institutions are formed and affect prosperity.”

To track progress towards its goal of eradicating extreme poverty by 2030, the UN relies on World Bank estimates of the share of the world population that fall below the so-called International Poverty Line (IPL).  

A site called Marxism and Collapse (M&C) has conducted a ‘dialogue’ with an AI model called Genesis Zero (GZ) that includes “an expansion and refutation” of Marx’s theory of value.  The human voice (M&C) asks questions and leads the AI model (GZ) into discussing the inadequacies of Marx’s value theory and to reach a new, […]

The countries of the BRICS+ were just as capitalist and imperialist as the imperialist bloc of the Global North, argued Ngawani. 

The Third Plenum is a meeting of China’s Communist Party Central Committee composed of 364 members which discusses China’s economic policy for the next several years.

Last Tuesday, the trade and technology war launched by the U.S/.on China back in 2019 took another ratchet up.

Grace Blakeley is a media star of the radical left-wing of the British labour movement. She is a columnist for the left-wing journal, Tribune, and a regular panellist on political debates in broadcasting—often the only spokesperson on the left advocating socialist alternatives.

Since the end of WW2, the imperialist bloc (IC) annually got around 1% of their GDP through the transfer of surplus value in international trade from the rest of the major ‘developing’ economies (DC) in the G20; while the latter lost about 1% of their GDP in surplus value transferred to the imperialist bloc. And these ratios were rising.

China is the only country in the world that produces all categories of goods classified by the World Customs Organization (WCO).

China’s state sector still has a powerful ability to sustain investment and production.

Last month, the U.S. National Security Advisor, Jake Sullivan, outlined the international economic policy of the U.S. administration. This was a pivotal speech, because Sullivan explained what is called the New Washington Consensus on U.S. foreign policy.

The recent massive demonstrations against the Macron administration in France forcing through so-called pension reforms reveals the determined attempts of pro-capitalist governments in all the major economies to cut real wages when we are old and can no longer work.

Bank stock prices have stabilized at the start of this week. And all the key officials at the Federal Reserve, the U.S. Treasury and the European Central Bank are reassuring investors that the crisis is over.

China’s Congress of the Communist Party takes place this week. 

The UK government’s economic policies under new PM Liz Truss have caused a stir among, not only leftists, but also among mainstream economists.

Life expectancy is one of the best measures of human development. 

The G7 governments have a problem.

Last week, Ukraine’s foreign private creditors agreed to the country’s request for a two-year freeze on payments on about $20bn of foreign debt.

The major economies are moving closer to recession, if they are not already there; and yet inflation rates continue to rise (for now). 

So, is this the moment of collapse in the Chinese model of development and the end of all that talk about ‘moving towards socialism’ etc? Many Western experts think so.