Top Menu

Author Archive | Tony Norfield

Trump & Xi, with flags

China & U.S. power

Can China do much to fight back against the power wielded by the U.S. in the world economy? At first sight, that looks unlikely. China is big, but world trade is conducted in dollars, and the U.S. has economic, political and military influence across the globe.

Continue Reading
Artsy Mike Mozart | Slam Dunk Success (2017) | Artsy

Richie Rich & friends

Being the biggest rich capitalist country, the U.S. also has the largest number of wealthy people. Quite how many will come as a bit of a surprise for those who have heard the ‘1% versus 99%’ slogan; it is not just Bill Gates and Jeff Bezos.

Continue Reading
Flickr No War with Iran- Durham (2020 Jan) | Anthony Crider | Flickr

Viruses & imperialism

Despite conspiracy theories, there is no evidence whatsoever that the virus was manufactured in or escaped from a laboratory, in China or anywhere else. Such accusations ignore how easy viral transmission can be when other factors come into play.

Continue Reading
unemployment

British workers

As we wait impatiently while the Brits go through the interminable travail of Brexit, let us have a look at who they are. Not directly in a social, cultural or political sense, but by reviewing the data on UK employment. Work gives a foundation for people’s daily lives and will, in turn, have an impact […]

Continue Reading
Currency

FX & Imperialism

What affects the exchange rate of a country’s currency? The answer depends on where that country stands in the world economy. Not simply because an exchange rate is the value of one currency versus another, so that you must weigh up two or more countries.

Continue Reading
Total Non-Financial Sector Debt, of GDP

Debt update

While the ratio of debt to GDP fell in 2018—for the first time in a decade—for both advanced & emerging market economies it remains high, much higher than at the start of the 2007-08 crisis; and has also continued to rise in some major economies. Debt update

Continue Reading
Iran Sanctions Imperial problems (Photo: eaworldview.com)

Iran sanctions, imperial problems

Trump’s anti-Iran move on Tuesday was deeply worrying for allies of the US. It is a blow for those countries, especially in Europe, that were hoping to build on the big expansion of trade with and investment in Iran after the July 2015 nuclear deal was signed.

Continue Reading
Boris & Spitfire

Nervous about Russia

Two weeks ago in Salisbury, less than 10 kilometres from the UK’s Porton Down chemical weapons establishment, a Russian and his daughter appear to have been poisoned. Sergei Skripal was a former Russian military intelligence officer who acted as a spy for the UK’s MI6.

Continue Reading
Index of Power, 2016–17

Index of power

he overall picture shows a small number of countries, led by the U.S., towering over the rest. Only 33 countries out of 180 have an index that is more than 1% of the U.S. index number! In the chart, the columns for these would look like the x-axis, so I have shown just the top […]

Continue Reading
Warren Buffett (Rebalance IRA)

Warren Buffett & imperial economics

Warren Buffett is one of the wealthiest people in the world. He is also Chairman of the Board, President and Chief Executive Officer of Berkshire Hathaway, a huge U.S. investment conglomerate. Looking at Berkshire’s investment policy reveals some important features of the economics of imperialism today and the role of money capitalists.

Continue Reading
Blair, Mugabe, 1997

Mugabe, Land, Thatcher, Blair & imperialism

So, farewell then, Robert Mugabe, ruler of Zimbabwe for 37 years. As the western media celebrate your demise, and Zimbabwe’s people wonder what will happen next, it is worth making a note of some forgotten events that helped pave the way for your country’s crisis. As one might expect, this involves the Brits.

Continue Reading