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Greece and the IMF: Who Exactly Is Being Saved?
Excerpt: Importantly, the initial collapse and following standstill in economic activity and nominal levels of GDP is also extremely bad news for the strategy of fiscal consolidation itself. On the one hand, to keep on servicing interest payments (see above), nominal debt will continue to go up. On the other hand, nominal GDP goes […]
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“Secularism . . . a Really Interesting Problematic”: A Conversation with Joan Wallach Scott
DKK: Joan, because people know you as many things — as a theorist of gender, as a cultural historian, as an inveterate advocate for academic freedom and defender of the rights of the professoriate — I’m curious how you would describe yourself to someone who had never met Joan Scott. JWS: That’s really hard . […]
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Kenneth Rogoff Is Wrong on Debt and Deficits
In much of the world, including the United States and Europe, a debate is taking place about whether the government’s first responsibility should be to reduce unemployment — which is at elevated levels — or to reduce government deficits and debt. Many of the arguments for deficit reduction are simplistic, based on ignorance, or ideologically-based. […]
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Sending a Message, Setting a Precedent: Nuclear Powers vs. Iran, Brazil, Turkey, and Other Emerging Powers
In international politics, if an action seems reckless or callous and the ones taking it are not certified loonies, usually it’s because it was made to look that way, on purpose. To send a message. Take Israel’s attack in international waters on a civilian flotilla that resulted in the death of nine Turkish passengers. […]
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The Myth of Conflict-Free Diamonds
The issue of “blood diamonds” has once again made the news: Farai Maguwu, Director of Zimbabwe’s Mutare-based Centre for Research and Development (CRD), languishes under the long arm of Zimbabwe’s laws on alleged charges related to his research on Zimbabwe’s Marange mines. According to a confidential 44-page report produced by investigators mandated by the Kimberley […]
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The Fed Can Just Hold Mortgage-Backed Securities, Reducing Interest Burdens
The NYT portrayed the Fed as facing a serious dilemma in dealing with its portfolio of mortgage-backed securities (MBS). It argued that it can either start selling them now and risk slowing the economy or wait until the economy has recovered more and risk losing money by selling them in a higher inflation environment. There […]
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‘God Helps Those Who Help Themselves’: Interview with Norman G. Finkelstein, Part 2
What is the British government’s role in the conflict? It is officially committed to the international consensus two-state settlement, but what has our record been in practice? It’s been awful. Britain doesn’t have an independent role — it just does what the US tells it to do. On the other hand, the struggle is easier […]
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Alternatives to Fiscal Austerity in Spain
Executive Summary: This paper looks at the planned austerity measures in Spain, the rationale for the spending cuts and tax increases, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies. It is widely believed that Spain got into trouble because of the over-expansion of government spending. However, during the economic expansion […]
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Iranian Sociology and Its Discontents
I recently returned from the quadrennial International Sociology Association’s World Congress held in Gothenburg, Sweden. It’s kind of like the World Cup of sociology. There I sat in on a session organized by the Iranian Sociology Association, where a few presenters, including its president Hossein Serajzadeh, discussed the state of social science in Iran. I […]
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Co-opting the Anti-Nuclear Movement
No medium of propaganda is as powerful and effective as film. Think of the classics, the most notorious efforts to sway the public with the electrifying and collective passion of cinema: racial apartheid was justified in the US with Birth of a Nation. The Soviets glorified their revolution with The Battleship Potemkin. Then there was […]
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The Sentencing of Lynne Stewart
“At all times throughout history the ideology of the ruling class is the ruling ideology.” — Karl Marx Lynne Stewart is a friend. She used to practice law in New York City. I still do. I was in the courtroom with my wife Debby the afternoon of July 19th for her re-sentencing. Judge John […]
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Treasure Islands: Mapping the Geography of Corruption
When is a tax haven not a tax haven? When Mauritius’ Vice Prime Minister Ramakrishna Sithanen says so. “We are a not a tax haven,” stated Sithanen, who is also the country’s Minister of Finance. Ironically, Sithanen would go on to reveal that ring-fenced financial services (FS) — the legal and financial secrecy vehicles facilitating […]
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Srebrenica 15 Years After: The Politicization of “Genocide”
It has become an annual ritual each July to commemorate the “Srebrenica massacre,” which dates back to July 11-16, 1995. The now institutionalized characterization is that “8,000 [Bosnian Muslim] men and boys” were executed by the Serbs at that time, in “the worst mass killing in Europe since the Second World War.” This memorial is […]
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The 2010 Commonwealth Games: Delhi’s Worrying Transformation
Amid spells of heavy monsoon rain and sticky, sweltering heat, Delhi is an anxious city, struggling to meet a deadline. Preparations are furiously underway for the nineteenth Commonwealth Games, to be held in town in less than three months (from October 3-14). Delhi residents expect that their upturned streets, recurrent blackouts and impassable traffic jams […]
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What Difference Does a Revolution Make? A Preliminary Contrast of India and China
I. Commonalities At the time of their casting off of colonialism — India gaining independence from Britain in 1947, China putting an end to a century of imperialist domination in 1949 — the two largest countries in Asia shared many common characteristics. Each possessed an enormous continental landmass with a population in the hundreds of […]
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The Dawn of Freedom (August 1947)
A poem by Faiz Ahmed.
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Socialism or Reformism?
I We live at a time when resistance to the inequities that exist in this world and the struggle for a better world are almost totally detached from any striving for socialism. Climate change, imperialist aggression, forcible dispossession of peasants in the name of “development”, oppression of the tribal population, gender discrimination, and ecological degradation […]
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A New Order in “Greater West Asia”: AfPak to Palestine
When the Soviet Union was in terminal crisis in 1990 and the prospect emerged of the United States establishing long-term domination of the international political system, the influential Washington Post columnist Charles Krauthammer sought to capture the character of the unfolding geopolitical era. The term he used became a buzzword in then-emerging neo-conservative circles, and […]
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The Merkel Model Spreads to Japan
The European public debt crisis, artificially created by the puritan obtuseness of German Chancellor Angela Merkel, has spread to even Japan. In fact, Naoto Kan, the new prime minister, mentioned Greece in a speech in which he claimed to fear the collapse of the Japanese economy under a heavy public debt equal to 230 percent […]
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To War?
“Until the philosophy which holds one race superior and another inferior is finally and permanently discredited and abandoned . . . everywhere is war.” — Bob Marley, “War,” 1976 (lyrics adapted from a speech by Haile Selassie I at the UN in 1963) Every few months the specter of a new American war in the […]