Subjects Archives: Economic Crisis

Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries.

On January 12, Cuba took the presidency of the G77+China for the first time in history after being elected in September 2022 during the 77th Session of the United Nations General Assembly (UNGA).

As a rainbow of social movements in Peru prepare for a general strike starting on 4 January the country is polarised between party politicians’ intrigues and action of the masses on the streets. 

The people of Puerto Rico woke up on the morning of September 19 only to relive a nightmare. Two days before Hurricane Maria’s five-year anniversary, on September 18, Hurricane Fiona made landfall on the island’s southwest coast. The storm caused widespread flooding, landslides and power outages. At least 16 people have died as a result.

Foster begins by referencing the fact that the 19th century, Newtonian view of nature, and the mechanistic, positivist approach to science originally penetrated socialist thought.

The United States and its allies are trying to impose new restrictions on the Russian economy, but like attempts so far, this one too looks fated to fail.

Former president Lula is in the lead in the polls ahead of the first round of elections in Brazil to be held on October 2. These elections will be transformative for Brazil and will have ramifications across the globe.

Ubiquitous, and worsening, environmental instability means we will have to throw out the anthropocentrism of economics.

We have to recognize that there is a pathway forward for humanity, but that the capitalist world system, and today’s governments that are largely subservient to corporations and the wealthy, are blocking that pathway, simply because it requires revolutionary-scale socioecological change.

New data show the end of pandemic relief coincided with a 49 percent increase in the number of families struggling to survive.

This week President Joseph Biden stopped at an Illinois farm to say he’s going to help the  Ukraine ship 20 million tonnes of wheat and corn out of storage into export, thereby relieving  grain shortages in the international markets and lowering bread prices around the world. 

The Problem Is Actually At Home

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.

On April 19, the International Monetary Fund (IMF) released its annual World Economic Outlook, which forecasted a severe slowdown in global growth along with soaring prices. ‘For 2022, inflation is projected at 5.7 percent in advanced economies and 8.7 percent in emerging market and developing economies–1.8 and 2.8 percentage points higher than projected in… January.’

The unsettling video portrays a mock execution of a Russian soldier.

Many ecologists, activists and academics argue that an obsession with economic growth is the cause of our current ecological crisis and a commitment to “degrowing” the economy is the solution.

There appears to be growing consensus among economists and policy makers that inflation is now the main threat to the U.S. economy and the Federal Reserve Board needs to start ratcheting up interest rates to slow down economic activity.

Let’s debunk a myth. There is no “Nobel Prize in Economics”. On Nov 27, 1895, when Alfred Nobel signed his will, he left five prizes in alphabetical order to: chemistry, literature, peace, physics, and physiology or medicine. The Nobel Prize in Economics is declared after the Panchapandavas above.

The very day, December 11, when the Indian finance ministry spuriously claimed a robust recovery in the post-pandemic Indian economy, newspapers carried news of an acceleration in the U.S. inflation rate.

Pretty much everyone accepts that inequality is a big problem in the U.S. But it is doubtful that most people truly grasp how successfully U.S. elites have captured the benefits of economic growth and, as a result, how much the resulting inequality has cost them.