After months of street battles and political meetings, a new draft of the Bolivian constitution was ratified by Congress on October 21. A national referendum on whether or not to make the document official is scheduled for January 25, 2009. “Now we have made history,” President Evo Morales told supporters in La Paz. “This process […]
Geography Archives: Americas
South America, Central America, United States & Canada
Three Months in the Wilderness
The next three months are unlikely to see much movement on any of the crucial issues that have been simmering just below the boiling point in the Middle East. On October 13 Kadima leader Tzipi Livni and Labor Party leader Ehud Barak signed a draft agreement to form a new Israeli government under her leadership. […]
Responses from the South to the Global Economic Crisis
International Political Economy Conference Responses from the South to the Global Economic Crisis Caracas, Venezuela Final Declaration Academics and researchers from Argentina, Australia, Belgium, Canada, Chile, China, Cuba, Ecuador, France, Mexico, Peru, Philippines, South Korea, Spain, United Kingdom, United States, Uruguay and Venezuela participated in The International Political Economy Conference: Responses from the South to […]
Who Is Counting the Dead in Afghanistan? Another War Lost
Within the political and intellectual circles in the country I am living in, and maybe even beyond, in mainland Europe and North America, an ignorant and insidiously complacent attitude towards the war in Afghanistan is more or less taken for granted. At the time of writing it is exemplified in the few editorials, scholarly analyses […]
Israel and the Financial Crisis
The financial crisis does not skip over Israel. The country that has been integrating itself in global capitalist markets in the last decades is once again seeing the ugliest side of capitalism, as the stock markets have dropped over a stunning 10 percent since the beginning of the month and the GDP growth forecast for […]
On the Financial Crisis of Iceland
The current financial crisis in Iceland is of course part of and connected to the international upheaval, but it also has its domestic roots. To put it briefly, for more than 17 years, we Icelanders have had a right-wing government led by the right-wing Independence Party in coalition with social democratic or center parties. The […]
Russia Draws Closer to Venezuela
Zaa Nkweta, The Real News: Venezuela just announced that it plans to buy Russian tanks as well as Russian armed reconnaissance vehicles. At the same time, the Russian naval fleet is on its way to Venezuela to conduct joint military exercises. What do you make of this? Forrest Hylton: On the one hand it’s […]
The Problem Is Capitalism, Not Just the Banks
Don’t panic! That’s the panicked cry of governments and central bankers around the world. Meanwhile their behaviour shows that they expect a very, very deep recession. After repetition over more than a quarter of century — by mainstream economists, ministers, the World Bank and International Monetary Fund — neo-liberal platitudes have been forgotten. Today, we […]
Monopoly-Finance Capital and the Crisis
Klassekampen: Is the credit crisis a symptom of overaccumulation of capital? It seems to me that investments worldwide, but especially in the United States, were funneled into the traditionally “safe” housing market following the bursting of the dotcom-bubble. This overinvestment in turn generated a new bubble, thus causing today’s havoc. Is this correct? JBF: […]
The Depression: A Long-Term View
The depression has started. Journalists are still coyly enquiring of economists whether or not we may be entering a mere recession. Don’t believe it for a minute. We are already at the beginning of a full-blown worldwide depression with extensive unemployment almost everywhere. It may take the form of a classic nominal deflation, with all […]
Marathon for Peace 2008
“I was born by the river in a little tent And just like the river I’ve been running ever since It’s been a long time coming But I know a change is gonna come.” — Sam Cooke Dear family & friends, Had Sam Cooke not been shot on a tragic day in 1964, he’d be […]
Iran: Comprehensive Sustainable Development as Potential Counter-Hegemonic Strategy
The questions regarding variations in social development, economic progress, and political empowerment have produced a voluminous literature over the past century, and because of the complexity of these issues, much important reflection will continue well into the future. In the early 1980s, a United Nations’ Commission coined the term “sustainable development” as a public statement […]
Choreographing Permanent War
Notwithstanding the renewed public concern about the economy in the wake of the implosion of the global financial architecture, the so-called “war on terror” remains at the forefront of the American presidential election campaign as it heads into its final stretch. Despite continuing popular opposition to Washington’s blatant empire-building policies both within the US and […]
The Mad Activist’s Declaration of Codependence
The sages of History say, Know Thyself — and I do. I used to be a peace activist, but thanks to the sages of pop-psychology, I see now that I am a codependent. Yet I refuse to be your ordinary, run-of-the-mill codependent, who’s stuck in a crappy relationship with just one needy, abusive individual. I […]
How to Think about the Crisis
The Financial Crisis Goes beyond Finance The crisis today in mortgage lending does not come as a surprise to me. I discussed the build up to the crisis in a book published last year, The Confiscation of American Prosperity.1 The book describes more than three decades of concerted efforts to restructure the economy to respond […]
Can the Financial Crisis Be Reversed?
Página/12: What is your opinion about the decision of the Treasury Department to consider taking ownership stakes in many United States banks? Do you think this is the right political-economic strategy? I mean, will it lead to the recovery of the system? JBF: The Treasury Department proposal to purchase majority shares in major U.S. banks […]
Israeli Bestseller Breaks National Taboo: Idea of a Jewish People Invented, Says Historian
No one is more surprised than Shlomo Sand that his latest academic work has spent 19 weeks on Israel’s bestseller list — and that success has come to the history professor despite his book challenging Israel’s biggest taboo. Dr. Sand argues that the idea of a Jewish nation — whose need for a safe haven […]
The Global Financial Crisis Has a Social Cause, Too: the World of Low Wages: An Interview with Emiliano Brancaccio
Emiliano Brancaccio is a professor of labor economics at the University of Sannio, member of Rifondazione Comunista, and advisor to the largest union of Italian metalworkers FIOM-CGIL. You maintain that the financial crisis is not purely a technical financial phenomenon but has a social cause. Why? The starting point is the weakness of the […]
Financial Crisis Hits Mexico: Social Crisis on the Horizon?
The international financial crisis that originated in mortgages and derivatives in the United States has spread to Europe, Asia, and Latin America, and Mexico will be significantly affected by the crisis. Government, business leaders and analysts say that for Mexico the crisis means: Less foreign direct investment. A decreasing market for its exports. Lower prices […]
Wall Street — Cold, Flat, and Broke
“Dreamed about AIG and the stock market, woke up with the urge to stock up on canned goods and shotguns.” — Michele Catalano of Long Island, an angry blogger. The month of September was cruel for Wall Street. Stormy winds blew away the venerable institutions of Wall Street and they collapsed one by one […]
