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Some oil producing nations agree to cut production 10%
Oil-producing nations led by Russia, the U.S. and Saudi Arabia reached an unprecedented agreement on Sunday to cut oil production by 9.7 million barrels per day, or nearly 10 percent of what is currently produced, as The New York Times reported.
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#MintTheCoin & COVID Relief with the Modern Money Network
Rohan Grey and Nathan Tankus join Money on the Left to discuss the flurry of debate about Modern Monetary Theory (MMT) arising out of the Coronavirus crisis. We focus, in particular, on the Modern Money Network’s multi-pronged efforts to illuminate and remedy the resulting economic devastation. At the center of our conversation is Rohan’s contribution […]
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Stanch the bleeding from local and state finances with local currencies
At the risk of making it seem like central bank swap lines are the solution to every problem, a swap line for local and state governments is the perfect tool using the Federal Reserve’s existing legal authority and can facilitate supporting these local currencies.
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Why are we still exchanging goods on the market?
Empty hotel rooms, bare supermarket shelves, factories producing jet engines and luxury cars instead of ventilators, governments competing with each other to purchase testing kits and masks. This way of organising society doesn’t make sense.
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Why coronavirus could spark a capitalist supernova
There is no magic money tree – the ‘rescue packages’ aim to rescue a rotten system, and won’t work.
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Yanis Varoufakis on the economic and political impact of the Coronavirus | DiEM25
Yanis Varoufakis, DiEM25 co-founder and MeRA25 MP, on the economic and political impact of the coronavirus.
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Building Capacity with Money on the Left
This month’s Money on the Left episode departs from the show’s regular interview format to reflect on the past, present and future of the Money on the Left project as a whole. We focus, in particular, on a recent special scholarly journal issue dedicated to Money on the Left, which was published by Liminalities: A […]
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Climate change and the class divide
No, we’re not all in it together. Our rulers are responsible for the system that’s creating an ecological catastrophe. As that crisis intensifies, it’s exposing and intensifying the divide between us and them.
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Capitalism, socialism and over-production crises
Unlike capitalism, socialism avoids any waste or slack, such as is caused by an over-production crisis, by raising the consumption of workers appropriately to avert it.
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Rosa Luxemburg and debt as an imperialist instrument
In her book titled The Accumulation of Capital, published in 1913, Rosa Luxemburg devoted an entire chapter to international loans in order to show how the great capitalist powers of the time used the credits granted by their bankers to the countries of the periphery to exercise economic, military and political domination on the latter.
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World’s super rich meet in Davos to discuss the climate change problem they created
Research has shown that the people most responsible for a warming planet were disproportionately the same people attending the summit and an increasing number of observers see climate change, inequality and capitalism as bound together.
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A Stock Market boom is not the basis of shared prosperity
The U.S. is currently enjoying another stock market boom which, if history is any guide, also stands to end in a bust. In the meantime, the boom is having a politically toxic effect by lending support to Donald Trump and obscuring the case for reversing the neoliberal economic paradigm.
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When it comes to pay, U.S. business leaders are world champs
U.S. CEOs not only draw the highest salaries (including bonuses and equity awards, etc.), but they are king of the hill when it comes to lording it over their employees, as illustrated by the high ratio of CEO to worker earnings.
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What inequality?
Economic inequality in the United States and around the world is now so obscene, and has convinced more and more people to do something about it, that the business press has initiated a campaign to deny its very existence.
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Covering the Paradigm Crisis with Alexandra Scaggs
Alexandra Scaggs joins Money on the Left to discuss her experience covering the ongoing paradigm crisis in mainstream economics, central banking and finance—and why leftists should be paying close attention.
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Is degrowth an alternative to capitalism?
In what follows, I will first briefly summarize the core arguments of the book, which promises to provoke important discussions on the matter of limits and subjects. Then I will reflect on the fuzziness of the primarily cultural conceptualization of capitalism, and argue that neither self-limitation nor degrowth qualifies as a mode of production, such that they could constitute an alternative to capitalism.
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Sanders report shows how Millennial generation is ‘being punished with crushing student debt and low-paying jobs’
“In the richest country in the history of the world, we have an obligation to turn this around and make sure our kids live healthier and better lives than we do.”
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End of the free trade myth
“Is that a big deal?”, some may ask. It is to those who have pushed for achieving the far-reaching liberalisation of trade in an unequal global order, first under the General Agreement on Tariffs and Trade (GATT), and then under the auspices of the agreements that established the WTO and defined and expanded its remit.
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Neoclassical Marxism (Christmas Special) with @NMarxism
This December, we bring you a special Christmas episode of our program, featuring the enigmatic operator behind the increasingly popular Twitter account known as “Neoclassical Marxism,” or @NMarxism. @NMarxism is a deeply satirical Twitter project, which deploys Modern Monetary Theory and some very dark humor to critique the neoclassical economics and neoliberal assumptions that unconsciously […]
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Changing the subject
From Chile to Lebanon, young people are demonstrating—in street protests and voting booths—that they’ve had enough of being disciplined and punished by the current development model.