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Another Great Problem in Today’s World
The financial crisis is not the only problem; there is another that is worse because it deals not with the production and distribution methods but with existence itself. I am referring to climate change. Both are present and will be discussed at the same time.
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This Crisis of Capitalism Is Not All Bad News
I think that what we’re going through now — which is really just starting, we’re nowhere in the middle of it yet either, I think — is much bigger and more extensive than the Great Depression. There are particular difficulties of fixing it because of the fact that it is bigger, it is more global, […]
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Wanted: Red-Green Alliance for Radically Democratic Reorganization of Production
Private capitalism (in which productive assets are owned by private individuals and groups and in which markets rather than state planning dominate the distribution of resources and products) has repeatedly demonstrated a tendency to flare out into overproduction and/or asset inflation bubbles that burst with horrific social consequences. Endless reforms, restructurings, and regulations were all […]
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Interview with Alí Rodríguez Araque, Minister of Economy and Finance, Venezuela
The government estimates the growth rate will be 2% at the maximum this year.
“The strategy is to create a public instrument in which the banks place certain percentages of their targeted portfolios.”
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Venezuela: Anti-Crisis Measures without Devaluation or Higher Gas Prices: VAT Rises 3%, But Minimum Wage Rises 20%
No neoliberal package, to the disappointment of the Right! President Chávez announced a series of “anti-crisis measures” to protect the country from the capitalist crisis, which are devoid of the typical neoliberal ingredients that the Right predicted. The 2009 budget is revised based on $40 a barrel (previously it was based on $60). Sumptuary expenses […]
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Keynes, Capitalism, and the Crisis
The essence of Keynes’s contribution was the demolition of Say’s law of markets. Say’s Law argued that supply created its own demand, so that there could never be an actual glut of production. Marx had rejected Say’s Law from the beginning, calling it “the childish babbling of a Say, but unworthy of Ricardo.” But neoclassical economics was built on it.
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Why the Islamic Republic Has Survived
Obituaries for the Islamic Republic of Iran appeared even before it was born. In the hectic months of 1979 — before the Islamic Republic had been officially declared — many Iranians as well as foreigners, academics as well as journalists, participants as well as observers, conservatives as well as revolutionaries, confidently predicted its imminent demise. […]
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The World Bank’s Reforms: Different Image, Same Tune?
The World Bank’s Board of Governors has approved the first of a series of reforms aimed at amplifying the voice and influence of developing countries inside the World Bank Group. The centrepiece of these much-awaited reforms, announced in mid-February, is an additional seat for Sub-Saharan Africa on the Bank’s Board of Executive Directors, a change […]
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The Soils of War: The Real Agenda behind Agricultural Reconstruction in Afghanistan and Iraq
In this Briefing, we look at how the US’s agricultural reconstruction work in Afghanistan and Iraq not only gives easy entry to US agribusiness and pushes neoliberal policies, something that has always been a primary function of US development assistance, but is also an intrinsic part of the US military campaign in these countries and […]
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Getting to the Bottom of Sea-level Rise
Sea level rise will displace millions across the world. Photo: Shamsuddin Ahmed/IRIN. JOHANNESBURG, 10 March 2009 (IRIN) — In the past few months, newspapers across the globe have been flooded with a debate over new studies projecting a higher and faster sea-level rise by the next century, which would sound the death-knell for low-lying countries […]
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Eighth of March: A United March in Caracas to Commemorate Fighting Women’s Day
This Sunday, the Eighth of March, Assemble at Plaza O’Leary at 9 AM in Silence, to March toward Plaza Los Museos, the Location of the Cultural Festival We Are Marching to Open New Paths. Big Marches Work Their Magic Because We Make the Path by Marching, Which Is the Legacy of the Collective Memory of […]
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Global Crisis: Economists’ Conference in Havana
The global economic crisis was the main protagonist on the first day of Globalización 2009, the 9th International Conference of Economists on Globalization and Problems of Development, presided over by First Vice President José Ramón Machado Ventura; Dominican President Leonel Fernández Reyna; Cuban Vice President Esteban Lazo Hernández; Nobel Laureates in economics Edmund Phelps […]
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Amnesty NOW: How and Why
Most analysts agree that the chances of immigration reform in the first year or two of Obama’s administration are extremely slim. We can’t expect politicians and policymakers to take action. The change we want to see has to come from below. We can make it happen if we unite around a common goal: swift, practical, […]
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Where Are Iran’s Working Women?
See, also, Hajir Palaschi, “Interview with Shahla Lahiji on Women’s Presence in the Labor Market: No Vocation Must Be Prohibited for Women,” Trans. Yoshie Furuhashi, MRZine, 18 February 2008. The Iranian Revolution and its aftermath have generated many debates, one of which pertains to the effects on women’s labor force participation and employment patterns. For […]
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How Should Venezuela Face the Coming Recession?
How Should Venezuela Face the Coming Recession? Presently much of the industrialized world is in a severe economic recession. The United States, Europe, and Japan are definitely in one and other important countries such as China are close to being in one. So far most South American countries have not entered into a recession. […]
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We Are at the Beginning of a Long, Profound, Painful Process of Change
Statement by James K. Galbraith, Lloyd M. Bentsen, jr., Chair in Government/Business Relations, Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin and Senior Scholar, Levy Economics Institute, before the Committee on Financial Services, U.S. House of Representatives, Hearings on the Conduct of Monetary Policy, February 26, 2009. Mr. Chairman and […]
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Resisting a Police State: The Importance of Dr. Binayak Sen
Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. Its February 2009 issue features the following editorial. — Ed. We have lost twice over from the late November terror attacks in Mumbai. We must add to the anguish of the loved ones of the poor people who […]
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Who’s Telling the Truth About Iran’s Nuclear Program?
Since February 2003, Iran’s nuclear program has undergone what the International Atomic Energy Agency (IAEA) itself admits to be the most intrusive inspection in its entire history. After thousands of hours of inspections by some of the most experienced IAEA experts, the Agency has verified time and again that (1) there is no evidence […]
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The Global Collapse: a Non-orthodox View
This is the longer version of an essay by the author released by the British Broadcasting Corporation (BBC) on 6 February 2009. Week after week, we see the global economy contracting at a pace worse than predicted by the gloomiest analysts. We are now, it is clear, in no ordinary recession but are headed for […]
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Tehran Has No More Pomegranates
Directed by Massoud Bakhshi, Tehran Has No More Pomegranates, a feature-length experimental documentary made over the span of five years, tells the story of Iran’s encounter with modernity and its social and political changes through a comic and ironic narrative about the transformation of its capital, Tehran, from a small village to a huge […]