Geography Archives: Americas

When a firefighter or medical team make a rescue, the person is usually better off as a result.  This is less clear when the rescuer is the European Central Bank (ECB) or the IMF. Ireland is currently experiencing a 14.1 percent unemployment rate.  As a result of bailout conditions that will require more cuts in […]

  Some time before the offer [at the meetings with the IMF and the WB in Dubai on 22 September 2003], [Argentine Economy Minister Roberto] Lavagna was already preparing the ground: he realized that after the offer “there are going to be sad faces everywhere.”  And indeed the first reaction of the creditors was rejection. […]

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 […]

  Table 14 summarizes the main technical characteristics of the debt restructurings studied in this paper: the size of the exchange, the participation rate, the numbers of instruments tendered and new instruments issued, the options available to investors, etc.  Table 15 contains the main results, both in terms of the level and dispersion of NPV […]

Many people feel sickened on hearing the name of that organization. On Friday, November 19, 2010 in Lisbon, Portugal, the 28 members of that bellicose institution engendered by the United States, decided to create what they cynically describe as “the new NATO.” The institution emerged after World War II as an instrument of the Cold […]

  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 […]

  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 […]

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, […]

  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 […]

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. […]

  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 […]

  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 […]

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 […]

  So there are no technological fixes [to the environmental problem caused by increasing consumption] in sight? I’ve gone on from the basic footprint concept to demonstrate a couple of other interesting spin-offs.  The assumption seems to be, in the mainstream, that improved technology, improved material and energy efficiency will help to solve this problem. […]

Part 1 Part 2 Part 1 Tom Corbett, Governor-Elect for Pennsylvania: It’s now time to come together, to tell the rest of the world — to tell the rest of the world Pennsylvania is open for business. Jesse Freeston: And that business is natural gas.  Pennsylvania’s race was unique in that it was fought primarily […]

If the G-20 is going to be nothing more than a talking shop on economic issues, they ought to at least talk about the economic problems that really matter, and the ones that they can do something about.  Not that currency values don’t matter — they are actually very important.  And it is interesting to […]

  Paul Jay: You recently wrote a piece in the Guardian.  The title is “Who Pays the Bill for the Fed’s QE2?  By Depressing US Interest Rates, Quantitative Easing Forces Developing Countries to Defend Their Currencies at Crippling Cost.”  What do you mean by that? Kevin P. Gallagher: One of the unintended effects of QE2 […]

A strange thing happened on the way to the G-20 meetings: world elite opinion has turned against the Federal Reserve’s “Quantitative Easing” (QE) program, the only significant “Keynesian” macroeconomic policy being implemented anywhere in the face of massive unemployment in much of the developed world; and this criticism is garnering some support from strange places, […]