Archive | Commentary

Acclaimed philosopher and activist Noam Chomsky is Institute Professor Emeritus of Linguistics at the Massachusetts Institute of Technology.  He shared his perspectives on international affairs, economics, and other themes in an interview conducted at his office in Boston on September 14, 2010. Keane Bhatt: Your new book Hopes and Prospects begins with the story of […]

  . . . The travails of the lands of Ire and Ice are not so much at odds with each other and come down essentially to the same point — the size of banking assets to that of the general economy; but they do differ considerably in how the two economies approached the battle. […]

  In 2009, the European Union, United States and Mexico filed a complaint with the World Trade Organisation (WTO) against China’s export restrictions on certain raw materials, including bauxite, coke, fluorspar, silicon carbide and zinc.  They said that, firstly, these constraints — in the form of export taxes, quotas, licences and so on — caused […]

Poblacht na h Éireann™ The Temporary Government To the people of Anglo-Ireland™ IRISHMEN AND IRISHWOMEN: In the name of Mammon and of the dead generations from which she receives her old tradition of subservience, we declare the name of this country to be Anglo-Ireland™, and through us, Anglo-Ireland™ summons her children to aid her banks […]

He must think workers are stupid.  How else can anyone explain it? He says, if UAW members lower the automakers’ fixed costs by cutting wages and benefits and trimming work rules to the bone — as in less break time and a jack-of-all-trades paradigm — it will help the union organize. It’s crazy.  It’s straight […]

  The capitalist media say that there is no alternative to the thrust of the economic policies being advanced by the government, the EU and the IMF.  This is completely untrue.  There is an alternative — a socialist alternative. Shut Down Anglo Irish Bank The bailout of Anglo Irish Bank is set to cost the […]

  Paul Jay: So if you’ve got more or less zero percent inflation and you’re getting 3 percent on your bond, you’re making 3 percent.  But if inflation’s 3 percent and you’re getting 3 percent on your bond, you’re down to zero.  Now, the Fed is saying that we can do this quantitative easing, increasing […]

As another one of the so-called “PIIGS” countries is being led to the slaughterhouse, it is worth asking whether all the carnage advocated by the European authorities is really necessary.  Ireland is in its third year of recession and income per person has already declined by more than 20 percent since 2007.  Unemployment has more […]

  Oscar Martínez is Deputy Head of the International Relations Department of the Cuban Communist Party.  This interview was conducted during the South African Communist Party visit to Cuba this month. What is the nature of the economic problems Cuba is currently experiencing? In the context of our other problems, the US economic and financial […]

International prices of most agricultural commodities have increased in recent months, some sharply.  The FAO Food Price index has gained 34 points since the previous Food Outlook report in June, averaging 197 points in October, only 16 points short from its peak in June 2008.  The upward movements of prices were connected with several factors, […]

  Paul Jay: On November 7, the president of the World Bank, Robert Zoellick, issued a statement calling for the reintroduction of some form of gold standard to establish the value of money.  Why now? . . .  Is Robert Zoellick’s proposal grasping at straws? Jane D’Arista: Well, what you’re saying is quite right.  The […]

The Consumer Price Index rose 0.2 percent in October as the inflation in the price of energy rebounded to 2.6 percent in the month.  The overall price of core consumer goods and services remained virtually flat for the third consecutive month.  Over that time, the core rate of inflation has been only 0.2 percent, annualized. […]

  Juliana Ruhfus: In these elections Haitians actually have a choice between no less than 19 different presidential candidates. . . .  Haiti’s political history has been one of revolt, dictatorship, and violence. . . .  Democracy arrived in the country in 1990, with the election of the priest Jean-Bertrand Aristide.  But, over the following […]

Carlos Latuff is a Brazilian cartoonist.  Cf. Nina Power, “Student Protest: We Are All in This Together” (Guardian, 10 November 2010); and Richard Seymour, “Tories Fall Back in the Polls” (Lenin’s Tomb, 17 November 2010). | Print

If Sudan gets carved up, it won’t be common people in southern Sudan who will benefit. Fahd Bahady is a Syrian cartoonist.  This cartoon was published in his blog on 13 November 2010; it is reproduced here for non-profit educational purposes.   The text above is an interpretation of the cartoon by Yoshie Furuhashi. | Print

In underdeveloped countries the appropriation of the economic surplus by foreign capital or its absorption by nonessential consumption of the parasitic upper classes is emphasized, the repercussions being a low level of investment and slow economic growth.

Have governments everywhere simply lost their marbles?  Not much emerged from the Seoul G-20 Summit — and definitely not anything really desirable in the form of coordinated Global Keynesian policies (of the kind that Matías Vernengo has advocated in the TripleCrisis blog).  But then, quite frankly, not much was really expected to come out, given […]

  Excerpt: The first objective of an audit is to clarify the past, to untangle the web of debt, thread by thread, so as to reconstruct the sequence of events which has led to the present impasse. . . .  Who has loaned and what was his role?  How did the State find itself committed, […]

It has long been argued that expanding commercial relations between countries acts as an incentive for nations to avoid hostilities up to and including armed conflict.  Indeed this was a major impetus behind the economic integration of Europe1 after World War II, which led to the European Union and more recently the currency union of […]

“Elections come and go, but the United States is still careening toward bankruptcy.  By 2020, the U.S. will be spending $1 trillion a year just to pay the interest on the national debt.  Sometime between now and then the catastrophe will come.  It will come with amazing swiftness.  The bond markets are with you until […]