Trump wants to resolve the crisis for America, caused by neo-liberalism, within the basic confines of neo-liberalism itself, i.e. without violating its core characteristic, which is free global mobility of finance.
Subjects Archives: Global Economic Crisis
Did developing countries recover from the global crisis?
A decade after the Global Financial Crisis, developing countries still bear the scars in the form of lower growth and investment rates.
A spectre is haunting us: it’s the past weighing like a nightmare on the present
The rise of extreme right wing politics is a response by sections of the ruling classes internationally to the economic stagnation.
We struggle against illegitimate public and private debt which are at the core of the capitalist system
What we are fighting is a capitalist system that destroys nature.
Why is there always an economic crisis of some sort?
Unlike liberal economists, Marxists explore the primary role of internal contradictions within the capitalist economy. The MARX MEMORIAL LIBRARY explains why.
Not a matter of if, but when
The capitalist crisis will deepen as new bubbles created by easy money begin to burst.
The crisis in neoliberalism and its ramifications
The neoliberal model that has dominated mainstream politics and economics for decades is in crisis.… Mass dissatisfaction has joined with the growing realisation by the managers of the capitalist system that neoliberal policies are incapable of dragging the world economy out of the rut in which it now finds itself 10 years after the onset […]
Yanis Varoufakis’s self-incriminating account of the Greek Crisis (Part 1)
Yanis Varoufakis’s entire proposal regarding debt was and is unacceptable from a left-wing point of view because it presupposes evacuating any debate as to the legality and legitimacy of the debts whose repayment is being demanded of Greece.
What is to constitute the new “yes” is the problem
For Klein, developing a meaningful anti-shock politics involves some combination of what Sanders represented and what Clinton symbolized: Sanders with respect to class and economics, Clinton as far as race and gender, and everything else. Imperialism and war scarcely enter the argument.
Trump’s March of Folly
The Trump White House is neofascist in terms of its political base, its ideology, and the policies it is advocating. The rest of the U.S. state, the Congress, the judiciary… are not at present neofascist. So we are in a period which is analogous to what the Nazis called Gleichschaltung (bringing into line), which means […]
The Devaluation of the Yuan
The Chinese central bank’s decision last week to let the yuan depreciate, in three stages by almost 4 percent against the US dollar, was officially explained as a move towards greater market determination of its exchange rate. Though this explanation pacified stock markets around the world, China’s devaluation of the currency portends a serious accentuation […]
Behind Puerto Rico’s Debt, Corporations That Drain Profits from the Island
The Phenomenal Drain of Profits Beginning in the 1970s, Puerto Rico’s economy began to suffer a drain of profits, to the point where the measure of total income produced in the island, the Gross Domestic Product, began to separate dramatically from the measure of income that residents own, the Gross National Product or GNP. […]
The Liberals and Inequality, Then and Now
Articles on income equality sometimes note that the U.S. economy hasn’t faced the current level of disparity since 1928, on the eve of the Great Depression. There has been much less discussion of the responses to the issue back then, even though income inequality was a major concern for policymakers as the Depression deepened and […]
Why Greece Doesn’t Matter
We have to stop talking about Greece. What must emerge from the calamity of SYRIZA-ANEL is a renewed call for democracy. There is a scene in the 1972 political satire The Candidate where Robert Redford looks at the camera and quietly says, “Politicians don’t talk, they make sounds.” For the past five years Greece […]
The Spectre of the Thirties
The Reserve Bank of India, as is to be expected, has been denying that its governor Raghuram Rajan had ever suggested that the world was facing the possibility of a 1930s-type Great Depression. Members of the “global financial community” are not supposed to say such things; so even if Dr Rajan did, a denial was […]
