Subjects Archives: Global Economic Crisis

1. Introduction The predominance of US economic, political and military power in the world was established at the end of the Second World War.1 With just 6.3 percent of global population, the United States held about 50 percent of the world wealth in 1948. As the only power which had used nuclear weapons on civilian […]

Rich tributes flow in for the ‘towering’ Marxist ideologue who passed away in Kolkata on November 28 at the age of 88.

To track progress towards its goal of eradicating extreme poverty by 2030, the UN relies on World Bank estimates of the share of the world population that fall below the so-called International Poverty Line (IPL).  

The fact that the world economy has slowed down since the financial crisis of 2008 is beyond dispute.

The countries of the BRICS+ were just as capitalist and imperialist as the imperialist bloc of the Global North, argued Ngawani. 

A study by the Urban Institute (UI) in 2018, before the pandemic struck, found that nearly 40 per cent of non-elderly adults and their families struggled to afford at least one basic need for health care, housing, utilities or food in 2017.

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020–at a rate of $14 million per hour– while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power.

WHEN an economy shrinks, as did the British economy last month, it triggers an alarm bell to all those who live not by their labour but by ours.

THE G-20 meeting in Delhi was occurring in the midst of an acute economic crisis of the world economy.

AS SIGNIFICANT as the fact of BRICS expansion are which countries are now set to join: Iran, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Argentina.

Despite the limitations of the BRICS project, it is clear that the increase in South-South trade and the development of Southern institutions (for development financing, for instance) challenges the neo-colonial system even if it does not immediately transcend it.

South Africa’s media agencies report that the country’s authorities have rejected a French request to send an invitation to President Emmanuel Macron to attend the upcoming summit of the BRICS economic group.

The 2019 Global Climate Strike—in which more than 6 million people from 150 countries partook—is a misnomer.

A gas mogul’s case against Beto O’Rourke could deter candidates from ever talking about money in politics.

Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries.

The International Labour Organisation’s Global Wage Report 2022–23 tracks the horrendous collapse of real wages for billions of people around the planet.

It is in vogue nowadays to describe the multifaceted and intertwined crises of capitalism without referring to capitalism itself. Obscure jargon of ‘overlapping emergencies’ and ‘polycrisis’ are brought up to describe the complexity of the situation, and they serve, with or without intention, to conceal the culprit, namely the totality of capitalist relations.

A new book explains how an economist, in challenging the orthodoxy, has helped activists change the world.

Preoccupied with enhancing their own ‘credibility’ and reputations, central banks (CBs) are again driving the world economy into recession, financial turmoil and debt crises.

WHAT is called OPEC+, that is the 13 members of the Organisation of Petroleum Exporting Countries (OPEC) together with 11 other petroleum exporting countries led by Russia, decided on October 5 to cut their oil production by 2 million barrels per day, starting from November. The U.S. had been pressing OPEC not to take this decision.