Geography Archives: Italy

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 […]

  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 […]

Excerpt: The mechanisms of crisis Gains for German capital, losses for German workers and periphery i. Monetary union has imposed fiscal rigidity, removed monetary independence, and forced economic adjustment through the labour market.  Workers have lost share of output relative to capital in Germany and peripheral countries. ii. The German economy has performed poorly, with […]

  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 […]

  Caesarism.  Caesar, Napoleon I, Napoleon III, Cromwell, etc.  Compile a catalog of historical events which have culminated in a great “heroic” personality.  It may be said that caesarism is an expression of a situation in which the forces in struggle are balanced in a catastrophic way, that is, balanced in a way that continuation […]

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 […]

The global financial crisis that began in 2007 was clearly about money, credit, and finance.  For mainstream economists and politicians — from neoliberals like John B. Taylor at Stanford and Tony Abbott, through pragmatists like Barack Obama and Australian prime minister Kevin Rudd, to Keynesians and social democrats like Paul Krugman at Princeton and John […]

Prior to the 2008 US presidential election, in an essay entitled “What the Future Has in Store for Iran,” I predicted that regardless of who is elected president, the US foreign policy toward Iran will be determined largely by Israel and its various lobby groups in the US, especially the American Israel Public Affairs Committee […]

Not very long ago, one of the main concerns of the U.S. labor movement and left-liberals was winning the passage of a full employment policy at the federal level.  In fact, this goal was attained in 1978 when Congress passed and President Carter signed the Humphrey-Hawkins Full Employment Act, which ostensibly committed the federal government […]

The current turmoil in financial markets around the world is another illustration of the damage that can be done by a bloated and politically powerful financial sector, combined with finance ministers and central bankers who identify with this sector and have their own right-wing policy agenda. Welcome to Europe, which has become the epicenter of […]

Until recently, the discussion on global imbalances focused on the current account deficit of the US and the current account surplus of China, making this a bilateral rather than a multilateral problem.  As a result, the process of rebalancing was seen as involving adjustments in either or both of these countries, and not so much […]

Markets can be irrational, as Keynes famously pointed out, and the Eurozone/Greek crisis is a classic example.  “The markets” for months have been demanding more blood from Greece, as the financial press has continuously and often unquestioningly reported: more commitment to spending cuts, tax increases, and “procyclical” policies that the bondholders, EU authorities, and the […]

Perhaps the wild swings in financial and stock markets over the last week will make people give closer scrutiny to what is going on in Europe, which would be a good thing for the world.  According to most news reporting, markets are worried about a potential default by Greece on its sovereign debt, and the […]

The political conflicts and street battles in Greece today foretell what is coming to many countries including the US.  The struggles are basically over what the government spends on and who pays the taxes.  In today’s class-divided societies, classes differ over what governments should do and who should pay the taxes.  Governments in such societies […]

As I have noted previously, Latvia has experienced the worst two-year economic downturn on record, losing more than 25 percent of GDP.  It is projected to shrink further during the first half of this year, before beginning a slow recovery, in which the International Monetary Fund (IMF) projects that it will not reach even its […]

On April 22, as part of the global Earth Day celebrations, homes, offices, and public buildings in 14 Israeli cities turned out the lights for one hour in an effort to “increase awareness of the vital need to reduce energy consumption.”  The Earth Day celebrations included scenes of green fields, wind generators, and rainbows projected […]

Abstract: From the moment Marx and Engels became involved with the League of the Just, Marxism has always had a long and often difficult relation with theology and the Bible.  Some of the leading figures of the twentieth century were no exception — Althusser, Adorno, Gramsci, Lefebvre, Eagleton are just a few.  And in our […]

A photo essay on the military presence in our nation’s capital. . . . Stephanie Westbrook is a US citizen who has been living in Rome, Italy since 1991.  She is active in the peace and social justice movements in Italy and traveled to Gaza in June 2009.  She can be reached at . | […]

  Jayati Ghosh: What’s happening to Greece is in an interesting way what many developing countries have gone through.  It’s really an inability to have independent monetary and fiscal policies, combined with a fact that during the boom it was chosen as a favorite destination, which creates a situation where you then become uncompetitive.  Suddenly […]

As the EU summit meeting convenes, Greece is dominating the agenda much more than Germany’s Chancellor Angela Merkel had wanted.  This week she has thrown cold water on the idea that Germany and other EU countries would take responsibility for helping Greece to roll over some of its debt, handing that job off to the […]