The global crisis has led some to question the dollar’s place as the dominant currency. This column discusses three camps in the literature: those advocating a new synthetic global currency, those arguing that a new reserve currency will emerge, and those suggesting a return to sharing the role. It concludes that talk of the […]
Geography Archives: Asia
Countries in the continent of Asia
End Times with Slavoj Žižek
Slavoj Žižek. Living in the End Times. Verso, 2010. Reading Žižek has always been as challenging as it is enjoyable, an experience of pleasure and pain that seems at times an intellectual correlate to the operation of objet petit a (little object a). The concept of objet petit a has been a constant in […]
Sanctions against Iran and the Next War
In his History of the Peloponnesian War, Thucydides relates how Pericles, in the fifth century BC, imposed economic sanctions against the city of Megara, which had allied itself with Sparta. Athens prohibited trade with this city state and sent a message: if Megara did not break its alliance with Sparta, it would be punished. Megara […]
A Few Days More
A poem by Faiz Ahmed Faiz.
Somalia: Peace, Security, and the Upshot of Political Subjugation
If I could think of any tactfully discreet and diplomatically clear way to describe the outcome of the 15th Extraordinary Session of the IGAD Assembly of Heads of State and Government on Somalia without compromising the essence of my message, I would simply choose that approach. Therefore, going crude is the appropriate way: As a […]
Toronto G20: Remembering Politics, Celebrating Activism
As news of the G20’s Toronto Summit recedes from the headlines, which memories shall prevail? The answer to this question will not only shape official decisions, such as whether allegations of police brutality are seriously investigated, but may also have a profound impact on the political sensibilities of a generation of Canadians. Given the constant […]
A Nuclear Revival?
Justin Pemberton, dir. The Nuclear Comeback. DVD. New York: Icarus Films, 2007. 53 minutes. Are we on the brink of a nuclear revival? Should we be? The Nuclear Comeback, an absorbing documentary video, is titled declaratively but sprinkles question marks. The Nuclear Comeback embarks on a tour of some of the high and low […]
Après moi, le déluge: War, Debt, and Revolution
Michael Sonenscher, Before the Deluge: Public Debt, Inequality, and the Intellectual Origins of the French Revolution. Princeton and Oxford: Princeton University Press, 2007. x + 415 pp. Notes, bibliography, and index. $39.95 U.S. ISBN-13: 978-0-691-12499-5 (hb). The subtitle of Michael Sonenscher’s book calls to mind at least two different, and separate, historical problems. First, […]
Persian Gulf History and Politics: Manama since the First Era of “Global” Capitalism
Nelida Fuccaro. Histories of City and State in the Persian Gulf: Manama since 1800. Cambridge: Cambridge University Press, 2009. xvi + 257 pp. $99.00 (cloth), ISBN 978-0-521-51435-4. In many ways, the city of Manama (now the capital of Bahrain) shares affinities with other Gulf city-states. Like Dubai, Kuwait, and Muscat, the port city drew […]
G20: Where No Side Wins
There is only one message that comes out of Toronto, where the G20 summit has come to an end. The formation, ostensibly created to reflect changing power equations in the world economy, serves no purpose. It has turned out to be one more talking shop in which agreement to disagree is presented as a consensus. […]
Iran, Natural Gas, and EU Sanctions: “Is Europe Shooting Itself in the Foot (to Russia’s Benefit)?”
Earlier this month, after the United Nations Security Council authorized new multilateral sanctions against the Islamic Republic by adopting Resolution 1929, the member states of the European Union (EU) approved guidelines for expanding European sanctions against Iran. Any new sanctions that the EU might apply against Iran on the basis of the new guidelines must […]
Capitalism’s Self-Destructive Spontaneity
Under the Gold Standard the values of different currencies were fixed in terms of gold, which meant that the exchange rates between those currencies were fixed. Exchange rate movements therefore could not be used to enlarge net exports and hence domestic employment. At the same time governments were committed to the principle of “sound finance”, […]
United against Us, Divided among Themselves: Toronto and European Assault on Living Standards
Martin Wolf described it as “a bloodbath.” The Financial Times editorial called it a “chilling read.” Britain’s budget is one of austerity, the likes of which has not been seen in generations. A 25 per cent cut in public spending; a quarter of a million or more public sector jobs to be slashed. It […]
BP — A Long, Bloody History of Reckless Greed
BP, the company responsible for what is already the worst single-source environmental catastrophe in U.S. history, is the largest corporation in Britain, fourth largest in the world, and the world’s third largest energy company. Over the course of its 100-year history, this company has caused a number of environmental and workplace disasters. But the harm […]
India: The Oil Price Hike
What on earth are they thinking? In the midst of an almost unprecedented and continuous increase in the price of necessities, which is increasingly translating into generalised inflation, the UPA government has chosen to “free” the price of petroleum products, to bring them in line with international prices. What this translates into is a significant […]
Robert Samuelson: Economics Is Hard
That seems to be the main point of Robert Samuelson’s column today. It might be a bit easier with a bit more careful thought. For example, Samuelson tells readers that the debt burdens of major countries are rapidly approaching “financial and psychological limits” that prevent further fiscal stimulus. He then cites the 92 percent debt […]
Iran Vote Shows China’s Western Drift
This month, the United Nations Security Council (UNSC) passed a resolution to tighten sanctions on Iran, imposing a ban on arms sales and expanding a freeze on assets of the Islamic Revolutionary Guards Corps in response to the country’s uranium-enrichment activities, which Tehran says are for peaceful purposes but other countries contend are driven […]
Shanghai Power Politics: China Shuts Out Iran from SCO
Two weeks ago, the 10th Shanghai Cooperation Organization (SCO) Council summit, held in Tashkent, Uzbekistan, approved the SCO Rules of Procedure and the regulation on procedure for future membership expansion. Before the summit, Chinese diplomats ritually pointed out that approval of the admission regulations was the first step in forming the basis for a […]
The Excess of the Left in Iran
Maziar Behrooz. Rebels with a Cause: The Failure of the Left in Iran. I.B. Tauris, 2000. The role of the left in the Iranian Revolution is complicated, what Frederic Jameson and Slavoj Žižek would call the ‘vanishing mediator’ of the event. The fact that at their peak Iranian Marxists commanded the loyalty of millions, and […]
Excerpt from “The Prophet and the Proletariat”
What the group around Khomeini succeeded in doing was to unite behind it a wide section of the middle class — both the traditional petty bourgeoisie based in the bazaar and many of the first generation of the new middle class — in a struggle to control the hierarchies of power. The secret of […]
