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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.
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Neo-Liberal falsehoods
The basic theme is to suggest that under neo-liberalism there has been such an acceleration of the growth rate of Gross Domestic Product that the people as a whole have become much better off, and vast masses of them have been lifted out of poverty (one particular enthusiast has even claimed that poverty now afflicts only 2 per cent of the population).
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Pitfalls of export-led growth
THE wisdom of pursuing a strategy of export-led growth has been discussed among development economists for at least half a century, ever since the so-called East Asian “miracle” started to be contrasted with the comparatively sluggish growth experience of countries like India that were pursuing, in the World Bank’s language, an “inward looking” development strategy.
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Cuba’s economists committed to Che’s example
On the eve of Economist’s Day, it is important to review some aspects of Che’s core ideas on the Political Economy of Socialism and especially when for some the solution to current problems is to completely free the market and reduce the role of the State in the economy.
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Sam Bankman-Fried and the moral abyss of the market
“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.
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How could a BRICS+ bank and settlement currency work? Economist Michael Hudson explains
Economist Michael Hudson details how BRICS could create a mutual settlement currency for payment imbalances among central banks and build an alternative to the financialized neoliberal model of the dollar/NATO bloc.
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U.S. Academic Steve Ellner: ‘Venezuela needs more checks and balances to fight corruption and abuse of power’
Orinoco Tribune interviewed U.S. academic Steve Ellner on different issues, ranging from Venezuelan domestic issues to global matters.
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Sri Lanka’s dangerous domestic debt restructuring
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.
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Behind BRICS expansion
AT the Johannesburg summit of the BRICS countries, it was decided to expand the group beyond its original five, namely, Brazil, Russia, India, China and South Africa, to include six more countries.
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The news is full of headlines about ‘China’s economic collapse’ — ignore them
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.
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Alienation under capitalism and the conspiracy pipeline
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.
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Third World external debt in the light of simple economics
INDIA and other third world countries can morally justify their being a part of G-20 alongside the imperialist powers, only if they raise common and pressing problems of the third world as a whole at G-20 meetings.