• | Declining productivity growth 1990 2021 | MR Online

    Inflation targeting farce: High costs, moot benefits

    Sep 20, 2022 (IPS). Policymakers have become obsessed with achieving low inflation. Many central banks adopt inflation targeting (IT) monetary policy (MP) frameworks in various ways. Some have mandates to keep inflation at 2% over the medium term. Many believe this ensures sustained long-term prosperity. 

  • | Elizabeth II dancing with Nkrumah 1961 | MR Online

    Africa struggles with neo-colonialism

    After a quarter century of economic stagnation, African economic recovery early in the 21st century was under great pressure even before the pandemic, due to new trade arrangements, falling commodity prices and severe environmental stress.

  • | Americas real debt dilemma Philosophers for Change | MR Online

    1980s’ redux? New context, old threats

    As rich countries raise interest rates in double-edged efforts to address inflation, developing countries are struggling to cope with slowdowns, inflation, higher interest rates and other costs, plus growing debt distress.

  • | Ghanas President Says Africa Must Quit Its Mindset of Dependency on Western Aid Global Voices | MR Online

    How France underdevelops Africa

    SYDNEY and KUALA LUMPUR, Aug 30 2022 (IPS) – Most sub-Saharan African French colonies got formal independence in the 1960s. But their economies have progressed little, leaving most people in poverty, and generally worse off than in other post-colonial African economies. 

  • | Stealing Resources enPermaCultureScienceorg | MR Online

    How NOT to win friends and influence people

    After four years of Trump’s ‘America first’ isolationism, U.S. President Joe Biden announced “America is back”. His White House has since tried to find allies against China and Russia.

  • | Stagflation Fears Are Excessive If Break Even Curve is Right | MR Online

    Stagflation: From tragedy to farce

    SYDNEY and KUALA LUMPUR. Half a century after the 1970s’ stagflation, economies are slowing, even contracting, as prices rise again. Thus, the World Bank warns, “Surging energy and food prices heighten the risk of a prolonged period of global stagflation reminiscent of the 1970s.” 

  • | A hunter offering a French gentleman three hottentot steatopygous women | MR Online

    Neo-colonial currency enables French exploitation

    SYDNEY and KUALA LUMPUR. Colonial-style currency board arrangements have enabled continuing imperialist exploitation decades after the end of formal colonial rule. Such neo-colonial monetary systems persist despite modest reforms.

  • | Neocolonialism in Africa Youth Voices | MR Online

    Africa taken for ‘neo-colonial’ ride

    SYDNEY and KUALA LUMPUR. Like so many others, Africans have long been misled. Alleged progress under imperialism has long been used to legitimize exploitation. Meanwhile, Western colonial powers have been replaced by neo-colonial governments and international institutions serving their interests.

  • | FTA = Death Photo citizennewsorg | MR Online

    Weaponizing Free Trade Agreements

    Long seen as means to seek advantage on the pretext of providing mutual benefit, free trade agreements may increasingly become economic weapons in the new Cold War, disrupting earlier globalization.

  • | SWIFT strengthened dollar | MR Online

    SWIFT dollar decline

    SYDNEY and KUALA LUMPUR: U.S.-led sanctions are inadvertently undermining the dollar’s post-Second World War dominance. The growing number of countries threatened by U.S. and allied actions is forcing victims and potential targets to respond pro-actively.

  • | Not War but Class War graffiti in Turin | MR Online

    Fighting inflation excuse for class warfare

    SYDNEY and KUALA LUMPUR. A class war is being waged in the name of fighting inflation. All too many central bankers are raising interest rates at the expense of working people’s families, supposedly to check price increases.

  • | USA Federal Reserve System | MR Online

    When saviours are the problem

    SYDNEY and KUALA LUMPUR: Central bank policies have often worsened economic crises instead of resolving them. By raising interest rates in response to inflation, they often exacerbate, rather than mitigate business cycles and inflation.

  • | On the trail of capital flight from Africa | MR Online

    Out of Africa: Rich continent, poor people

    KUALA LUMPUR: Capital flight from the global South is immense, with widespread adverse effects. A new book proposes measures to curb, even reverse capital flight from Africa. It also offers pragmatic lessons for many developing countries.

  • | Galle Face Evening Flag Lowering Ceremony | MR Online

    Sri Lankan economic crisis inflicted by self-serving elite

    SYDNEY and KUALA LUMPUR: Once deemed a basic human needs success story, Sri Lanka (SL) is now in its worst economic crisis since independence in 1948. Nonetheless, SL’s ‘moment of truth’ now offers lessons for other developing countries.

  • | Page for individual images Quoteinspectorcom | MR Online

    Financialization at heart of economic malaise

    COVID-19 has exposed major long-term economic vulnerabilities. This malaise–including declining productivity growth–can be traced to the greater influence of finance in the real economy.

  • | Department of Public Health and Primary Care University of Cambridge | MR Online

    Climate inaction, injustice worsened by finance fiasco

    KUALA LUMPUR: Many factors frustrate the international cooperation needed to address the looming global warming catastrophe. As most rich nations have largely abdicated responsibility, developing countries need to think and act innovatively and cooperatively to better advance the South.

  • | Island state nations like the Marshall Islands are often among the most vulnerable to climate change and need financial support from wealthier countries | MR Online

    Climate change: Adapt for the future, not the past

    Funding for developing countries to address global warming is grossly inadequate. Very little finance is for adaptation to climate change, the urgent need of countries most adversely affected. Also, adaptation needs to be forward-looking rather than only addressing accumulated problems.

  • | WWF Global Warming Ad 1 | MR Online

    Profiting from the carbon offset distraction

    Carbon offset markets allow the rich to emit as financial intermediaries profit. By fostering the fiction that others can be paid to cut greenhouse gases (GHGs) instead, it undermines efforts to do so.

  • | Climate injustice at Glasgow COP out | MR Online

    Climate injustice at Glasgow COP-out

    Former Irish President Mary Robinson observed, “People will see this as a historically shameful dereliction of duty,… nowhere near enough to avoid climate disaster.”

  • | COVID 19 vaccines wealthier nations including the UK must drop their opposition to the proposed TRIPS waiver at the WTO | MR Online

    WTO finished without TRIPS waiver

    The World Trade Organization (WTO) will soon decide on a conditional temporary waiver of Trade-Related Intellectual Property Rights (TRIPS).