The Economist (2/15/20) ran a brief article last year with a startling headline: “Immigration to America Is Down. Wages Are Up. Are the Two Related?” Maybe, the article’s anonymous author answered, at least for the short term.
Subjects Archives: Economic Theory
Vaccine developers’ refusal to share publicly funded vaccine research findings is stalling broader, affordable vaccinations which would more rapidly contain COVID-19 contagion. The pandemic had infected at least 109 million people worldwide, causing over 2.4 million deaths as of mid-February.
In the 1960s, the main forms of the Chinese assistance offered to Cuba were preferential trade and interest-free loans. From 1961 to 1965, China gave Cuba an interest-free loan of 60 million U.S. dollars.
Texas’s electricity market “reforms” made the current crisis inevitable.
A new IPS briefing paper highlights the unique role of tax policy in wealth concentration.
Money on the Left is joined by Julia McClure, lecturer in Late Medieval & Early Modern Global History at the University of Glasgow. McClure’s 2017 book, The Franciscan Invention of the World, draws compelling and confounding conclusions about the role of the late Medieval Franciscans in shaping the modern capitalist and colonialist world. We talk with McClure […]
During Tuesday’s confirmation hearings before the Senate, nominees for positions in Joe Biden’s cabinet expressed their support for a tough stance on China.
The peasants gathered on the Delhi border understand all these issues much more clearly than either Modi or the intelligentsia advocating a shift away from food grains. Ironically, it is the latter group who are suggesting that the peasants are ignoramuses!
The recently announced EU-China principally agreed investment deal is a watershed moment, marking a first EU-China investment deal of its kind that would open the doors for the EU to make direct investment in China.
In this episode we are joined by Christine Desan, Leo Goettlieb professor of law at Harvard Law School to discuss her excellent book, Making Money: Coin, Currency, and the Coming of Capitalism.
This is most clearly shown in what is allowed by the powers that run the financial system.
Recent reporting reinforces the false impression that the United States is threatened by Chinese and Russian expansionism.
With the continuing pandemic–and expiring housing and unemployment benefits across the country–millions of people may have their utilities cut off soon.
Both the number of initial unemployment claims for unemployment compensation and the number of continued claims for unemployment compensation are once again on the rise, signaling a worsening of the Pandemic Depression.
Unequal distribution means the poorest countries are getting trampled in the stampede for COVID-19 vaccines.
Capitalism will not ‘automatically’ morph into some ‘postcapitalist’ or socialist system due to technology replacing the human workforce. As the MARX MEMORIAL LIBRARY explains, ending capitalism will require a conscious, collective action on the part of ‘the many’—the working class.
As millions of Americans stand on the brink of economic annihilation, the money keeps flowing to Wall Street thanks to carefully contrived mechanisms to maintain a dying financial system afloat.
Hobsbawm’s thinking was guided by dialectical materialism, which was a scientific outlook based on analysis. It always accounted for unpredictable human agency and, though economic factors played the principal role in the development of history, this study rejects the claim that Hobsbawm was a mechanical determinist.
IT is often believed that the ability to pass on property to one’s progeny is an essential element of capitalism, without which the capitalists’ incentives will dry up and the system will lose its dynamism.
The third major influence on Marx’s critique of political economy (in addition to and combined with classical economics and Hegel’s philosophy) was utopian socialism.