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The curious case of strengthening dollar, falling rupee
The primary cause of the rupee’s depreciation is the preference of the Indian rich to hold their wealth in the form of U.S. dollars rather than in Indian rupees.
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Amiya Kumar Bagchi, 1936-2024
Several obituaries of Amiya Kumar Bagchi have appeared since his death on November 28, covering his remarkable achievements.
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U.S. economy: An exceptional boom or a bubble to burst?
Recently, there has been a spate of articles and commentary about ‘U.S. exceptionalism’, namely that the U.S. economy is bounding forward in terms of economic growth, hi-tech investment and productivity, leaving the rest of the world behind.
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A tale of two summits: U.S. influence on the decline as China and BRICS on the rise
The United States is continuing its economic battle against China in South America. However, its influence in the region is in decline as nations seek alternatives in order to forestall U.S. hegemony.
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Amiya K Bagchi: ‘A political economist, economic historian who stands tall in South Asia’
Rich tributes flow in for the ‘towering’ Marxist ideologue who passed away in Kolkata on November 28 at the age of 88.
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The Kazan summit of BRICS
The BRICS declaration presumes that the international institutions in their current state are flawed because they are dominated by imperialist countries and are not representative enough; but they are flawed because their very essence is flawed, no matter how they are governed.
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The dialectics of wealth and poverty
THIS year’s Nobel Prize in economics (the Riksbank Prize to be more precise) has been awarded to three U.S.-based economists for their research into what promotes or hinders the growth of wealth among nations; and they assign a crucial role to institutions, arguing that western institutions like electoral democracy are conducive to growth.
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Another Nobel for Anglocentric Neoliberal Institutional Economics
New institutional economics has received another so-called Nobel prize, ostensibly for again claiming that good institutions and democratic governance ensure growth, development, equity & democracy.
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Cuba requests entry into the BRICS
On Monday, the Director of General Affairs of the Cuban Foreign Ministry, Carlos Pereira, announced that his country had requested to join BRICS+.
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IIPPE 2024: Imperialism, China and BRICS+
The countries of the BRICS+ were just as capitalist and imperialist as the imperialist bloc of the Global North, argued Ngawani.
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Further thoughts on the economics of imperialism
Since the end of WW2, the imperialist bloc (IC) annually got around 1% of their GDP through the transfer of surplus value in international trade from the rest of the major ‘developing’ economies (DC) in the G20; while the latter lost about 1% of their GDP in surplus value transferred to the imperialist bloc. And these ratios were rising.
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How private equity conquered America
Blackstone, Apollo, and a handful of other firms are demolishing the US economy for short-term gain, and leaving workers and communities in the wreckage.
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Latest CPI Report : The ‘soft landing’ plane is still circling
For months the mainstream media and Washington Pols have been pushing the metaphor that the U.S. economy is a plane on its final approach to a ‘soft landing’. Soft landing is defined as inflation steadily coming down to the Federal Reserve’s goal of a 2% price level AND does so without provoking a recession.
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Americans deserve fairer social security taxes
Social Security has been a financial rock for seniors ever since benefits first began flowing in 1940.
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The living wage gap
According to an analysis from the Massachusetts Institute of Technology, the minimum wage does not suffice to pay for a typical set of living expenses in any state of the United States. Hawaii, Georgia and Utah, where the living wage gap exceeded $10 per hour, fared the worst.
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Mali, Burkina Faso, and Niger withdraw from ECOWAS
Land area under ECOWAS, which is condemned by West Africa’s popular movements as an agent of French imperialism, has been reduced to less than half after their withdrawal.
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Has China really reached the end of its economic boom?
China’s state sector still has a powerful ability to sustain investment and production.
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A minimum-wage increase can benefit the whole economy
CounterSpin interview with Sebastian Martinez Hickey on minimum wage.
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Paul Burkett, rest in power
In memory of Paul Burkett, Marxist scholar and jazz musician, 1956-2024.
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Russia and China no longer using dollar in trade, claims Russian PM Mishustin
Western currencies have almost been completely phased out in Russia-China trade, as nearly all payments between the countries are now carried out in rubles and yuan, according to Russian Prime Minister Mikhail Mishustin.