Subjects Archives: Economic Crisis

Rich tributes flow in for the ‘towering’ Marxist ideologue who passed away in Kolkata on November 28 at the age of 88.

The fact that the world economy has slowed down since the financial crisis of 2008 is beyond dispute.

Nigeria is experiencing its worst economic crisis in a generation. Annual inflation stands at more than 30%. Prices for food like yams, a staple food, are almost four times higher than last year.

The ‘degrowth’ debate raises critical issues to which only a Marxist approach can provide answers, argues the Marx Memorial Library.

By sanctioning so many countries so readily, the Empire has in effect sanctioned itself–and convinced an ever-increasing number of states to seek alternative economic and financial structures.

We are on the possible verge of a major escalation in the war in the Ukraine, one which risks war between NATO and Russia, and one involving nuclear weapons, argues Chris Bambery.

There are well-known problems associated with the concept of gross domestic product as well as with its measurement.

WHEN an economy shrinks, as did the British economy last month, it triggers an alarm bell to all those who live not by their labour but by ours.

“There will probably never be anything I can do to make my lifetime impact net positive”, Sam Bankman-Fried wrote in his diary after the collapse of his cryptocurrency company FTX.

Poverty is rising in one of the world’s oldest colonies: In Puerto Rico, 41.7% of people, including 57.6% of children, live in poverty. This is nearly four times the U.S. rate. And Puerto Rican workers are getting poorer even while unemployment falls.

Three days before the Abu Mansur and Al Bilad dams collapsed in Wadi Derna, Libya, on the night of September 10, the poet Mustafa al-Trabelsi participated in a discussion at the Derna House of Culture about the neglect of basic infrastructure in his city. At the meeting, al-Trabelsi warned about the poor condition of the dams.

The recent bailout agreement between the International Monetary Fund and Sri Lanka fails to address the economy’s structural problems. Instead, it focuses on highly regressive measures that disproportionately affect the working poor and are likely to exacerbate the country’s ongoing debt distress.

On March 8, 2023, General Laura J. Richardson of the United States (U.S.) Southern Command gave testimony at a congressional hearing wherein she issued a warning to U.S. lawmakers about the expansion of Chinese influence in the Caribbean that were at odds with purported U.S. interests in the region.

Once again, the Western media Establishment, and sadly some on the left, are talking up an impending economic disaster in China, when the truth is quite the opposite, argues JOHN ROSS.

When class analysis is absent from discussions about systemic problems, issues like income inequality, access to resources, and power imbalances are often oversimplified or ignored.

Colombian President Gustavo Petro has shared an analysis on the current situation of the cocaine market structure, warning that this illicit business has moved to Ecuador after its collapse in the U.S. due to the fentanyl boom.

South Africa’s media agencies report that the country’s authorities have rejected a French request to send an invitation to President Emmanuel Macron to attend the upcoming summit of the BRICS economic group.

Jayati Ghosh speaks about the growing debt crisis in the global south, the IMF’s never-ending affinity for austerity and the need to confront the power of financial capital.

AFTER Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis.

While a geopolitical tussle between Washington and Beijing over Zambia’s debt default has received significant international attention, Canada’s contribution has been largely ignored.