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  • Monthly Review Essays
  • | Radio Silence Concerning United States President Franklin Roosevelts Repudiation of Debts | MR Online

    Radio silence concerning United States President Franklin Roosevelt’s repudiation of debts

    Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on January 28, 2023 (more by CADTM - Committee for the Abolition of Illegitimate Debt)  |

    During your education, did you learn that during the 1930s the government of the USA unceremoniously repudiated a central provision of debt contracts that represented phenomenal sums?

  • | Richest 1 | MR Online

    Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years

    Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on January 17, 2023 by Oxfam (more by CADTM - Committee for the Abolition of Illegitimate Debt)  | (Posted Jan 19, 2023)

    According to a new report published by Oxfam, the richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

  • | MD Kristalina Georgieva conversation with World Banks David Malpass | MR Online

    The IMF’s announcement of $650 billion in Special Drawing Rights: advertising effect

    Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on September 8, 2021 by Milan Rivié and Éric Toussaint interviewed by the CADTM (more by CADTM - Committee for the Abolition of Illegitimate Debt)  | (Posted Sep 11, 2021)

    The 190 countries that are members of the IMF are entitled to allowances in strong currencies which they do not have to pay back. This device is called Special Drawing Rights. To this we must add loans that the IMF can grant to a country calling for help. Loans must be repaid with interest and are tied to conditions that reinforce neoliberal policies.

  • | Éric Toussaint responds to the questions of the LAnticapiltaliste weekly | MR Online

    The dual explanation of the crisis, the fake social turnaround by governments, the need for radical responses

    Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on July 12, 2021 (more by CADTM - Committee for the Abolition of Illegitimate Debt)  |

    The answer is plain to see: the two explanations are not contradictory. A combination of the two enables us to understand what has been happening right before our eyes.

  • | Rosa Luxemburg | MR Online

    Rosa Luxemburg and debt as an imperialist instrument

    Originally published: CADTM - Committee for the Abolition of Illegitimate Debt on February 6, 2020 (more by CADTM - Committee for the Abolition of Illegitimate Debt)  |

    In her book titled The Accumulation of Capital, published in 1913, Rosa Luxemburg devoted an entire chapter to international loans in order to show how the great capitalist powers of the time used the credits granted by their bankers to the countries of the periphery to exercise economic, military and political domination on the latter.

Monthly Review Essays

  • Extractivism in the Anthropocene
    John Bellamy Foster | Dio Cramer | MR Online

    Late Imperialism and the Expropriation of the Earth.

Lost & Found

  • End of Cold War Illusions
    Harry Magdoff | F 16N Fighting Falcon | MR Online

    In this reprint of the February 1994 “Notes from the Editors,” former MR editors Harry Magdoff and Paul M. Sweezy ask: “The United States could not have won a more decisive victory in the Cold War. Why, then, does it continue to act as though the Cold War is still on?”

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