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Partners: China and Cuba
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.
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Cold truth: The Texas freeze is a catastrophe of the Free Market
Texas’s electricity market “reforms” made the current crisis inevitable.
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Taxes on the rich: One-sixth of what they used to be
A new IPS briefing paper highlights the unique role of tax policy in wealth concentration.
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The Franciscan Invention of the New World with Julia McClure
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 […]
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Biden nominees call for tough stance on China during confirmation hearings
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.
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Why are people going hungry in India despite a massive grain surplus?
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!
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The Geo-politics of EU-China Investment deal
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.
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Money as a Constitutional Project with Christine Desan
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.
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Airbnb’s A’s and B’s
This is most clearly shown in what is allowed by the powers that run the financial system.
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Why is the Guardian promoting more Pentagon propaganda?
Recent reporting reinforces the false impression that the United States is threatened by Chinese and Russian expansionism.
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In a pandemic, why are cities still making it hard for people to get utilities?
With the continuing pandemic–and expiring housing and unemployment benefits across the country–millions of people may have their utilities cut off soon.
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Chart of the day
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.
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Canada is choosing corporate property rights over the health of billions
Unequal distribution means the poorest countries are getting trampled in the stampede for COVID-19 vaccines.
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Does automation spell the end of capitalism?
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.
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With rent freezes about to expire, Mnuchin lobbies for more Wall Street bailouts
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.
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Eric Hobsbawm’s dialectical materialism in the postwar period 1946-56
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.
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Capitalism and inheritance
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.
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Utopian socialism
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.
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Why the military establishment backed Biden
The U.S. military establishment will breathe a sigh of relief at Joe Biden’s victory in the presidential election. Nearly 800 former high-ranking military and security officials penned an open letter in support of the Democratic candidate during the campaign.
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India’s move toward a de facto unitary state
India is being pushed toward a de facto unitary state, with states being kept totally out of the loop in decision-making, as seen in the new agricultural laws, goods and services tax compensation, Jammu and Kashmir bifurcation and new National Education Policy.