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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

  • The Migrant Genocide: Toward a Third World Analysis of European Class Struggle
    Iker Suarez  | A banner at a memorial rally for victims of the 2014 massacre of migrants at Tarajal 2021 | MR Online

    Over 10,000 people died in transit to Spain in 2024 alone.[1] On June 2022, the border fence of Melilla, one of two Spanish enclaves in Morocco, was witness to a massacre that killed or disappeared over a hundred African migrants.[2]  A recent BBC investigation revealed that Greek border guards systematically repeal immigrants already on Greek […]

Lost & Found

  • Strike at the Helm: The First Ministerial Meeting of the New Cycle of the Bolivarian Revolution
    Hugo Chávez  | Mural of Chávez in Caracas Univision | MR Online

    On October 7th, 2012, after hearing of his victory as the nation‘s candidate with 56 percent of the vote, President Hugo Chávez Frias announced from a balcony in his hometown that a new cycle was beginning the very next day, October 8th.

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