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The idea of degrowth communism was Marx’s last breakthrough—and perhaps most important
Even if Japanese Marxist Kohei Saito had not written Marx in the Anthropocene: Towards the Idea of Degrowth Communism, the left today would still need to take the idea of degrowth seriously. This is because, economist and anthropologist Jason Hickel explains, “while it’s possible to transition to 100 percent renewable energy, we cannot do it fast enough to stay under 1.5°C or 2°C if we continue to grow the global economy at existing rates.”
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Pitfalls of export-led growth
AFTER Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis.
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Modern supply-side economics and the New Washington Consensus
Last month, the U.S. National Security Advisor, Jake Sullivan, outlined the international economic policy of the U.S. administration. This was a pivotal speech, because Sullivan explained what is called the New Washington Consensus on U.S. foreign policy.
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Ex-CIA advisor predicts date when U.S. dollar hegemony will collapse
The collective push to replace the U.S. dollar as the world reserve currency has much to do with Washington’s “weaponization of the dollar through the use of sanctions.”
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Why China’s socialist economy is more efficient than capitalism
The difficulty the U.S. faces in its current attempts to damage China’s economy was analysed in detail in the article “The U.S. is trying to persuade China to commit suicide”. Reduced to essentials, the U.S. problem is that it possesses no external economic levers powerful enough to derail China’s economy.
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TRANSCRIPT: The roots and consequences of African underdevelopment, Walter Rodney, 1979
In May 1979, the Center for Afro-American Studies at the University of California, Los Angeles hosted a symposium titled The Political Economy of the Black World. We are publishing, for the first time, Walter Rodney’s thoughtful presentation at this symposium.
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Is “de-globalisation” occurring?
The Greek philosopher Heraclitus had said “You cannot step into the same river twice.”
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Exchange rate depreciation and real wages
Most people, including even trained economists, fail to appreciate the fact that an exchange rate depreciation, if it is to work in reducing the trade deficit in a capitalist economy, must necessarily hurt the working class by lowering the real wage rate
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Biden’s debt ceiling betrayal is a Democratic Party tradition
Joe Biden is continuing the ignoble tradition of colluding with republicans while pretending to fight them. The latest debt limit drama is another betrayal of the people.
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Big bad Canada pushes to protect profits from Mexico
The Trudeau government is pressing Mexico to maintain its loosely regulated, pro-capitalist mining policies.
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Michael Lebowitz, presente! (1937–2023)
Marxist economist Michael A Lebowitz passed away at home on April 19.
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The IMF and its ideological orphans
There was a time when the International Monetary Fund’s “recommendations” on how to reorganize an economy were read, defended and executed as if they were a divine mandate.
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Germany: “Craftsmen for peace”
Congress of craftsmen and entrepreneurs in Dessau-Rosslau.
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Credit Suisse: Afterthoughts to the end of the party
If you want to win back the trust of people, you have to protect them from the excesses of the financial world.
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Pivotal moment in India-Russia relations
Most relationships undergo transition with the passage of time from appreciation of each other to a “state of having,” a desire to possess or even to control the other. But the present pivotal moment in the Russian-Indian relationship shows that an equal relationship does not fall into that trap.
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The current state of India’s economy
GOVERNMENT officials never tire of repeating that India is currently the fastest growing major economy in the world.
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The financial backers of the war on woke
Matthew Goodwin wants us to worry about a ‘new elite’ of media workers and academics, not the actual elite of billionaires—like his backers. SOLOMON HUGHES unveils the trail.
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The Puzzle of Financialization
In this reprise from October 1993, Harry Magdoff and Paul Sweezy ask: “Isn’t there anyone around here who understands how this capitalist system works?”
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Banking crisis: is it all over?
Bank stock prices have stabilized at the start of this week. And all the key officials at the Federal Reserve, the U.S. Treasury and the European Central Bank are reassuring investors that the crisis is over.
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Getting ready for the global financial crisis 2.0
We see again that banks have access to the protection of an unlimited nanny state, while others are left to fend for themselves.