Subjects Archives: Global Economic Crisis

Bitcoin had gone from around USD 4,000 to USD 64,000, a sixteen fold increase, in 20 months. Other cryptocurrencies had even more ridiculous price increases in the same time period – Ethereum had a 50 fold increase, Solana 500 times, and LUNA had a 1,000 times increase. Now, these cryptocurrencies are crashing down.

For over two years now, the world has been facing a pandemic the like of which has not been seen for a century, and which has already taken 15 million lives according to the WHO, without being anywhere near an end.

It is simply impossible to understand what is going on now in the world if we don’t take into consideration the crisis the globally dominant Western capitalism has been facing since 2008.

In addition to today’s fuel and energy crises, food insecurity has been a major issue for a number of reasons and, with the current Russian-Ukrainian war, a global food crisis and hunger is a real risk. Unfortunately, this may pave the way for a kind of food diplomacy and food wars.

If you really want decolonisation, go beyond cultural criticism to the deep structural insights of economist Samir Amin.

Everyone knows that inflation in the United States is increasing. Anyone who has read the news, or for that matter has gone shopping lately. Prices are rising at the fastest rate in decades. The Consumer Price Index rose 8.6 percent in March, which is the highest rate of increase since December 1981 (when it was 8.9 percent).

DOES the Ukraine war and the action of the U.S., EU, and the UK spell the end of the dollar as the world’s reserve currency? Even if the peace talks between Russia and Ukraine reach a 15-point peace plan, as Financial Times has reported, the fallout for the dollar still remains.

COVID-19 has exposed major long-term economic vulnerabilities. This malaise–including declining productivity growth–can be traced to the greater influence of finance in the real economy.

Much has been written about the immense increase in economic inequality that has occurred of late and various startling figures have been provided by bodies like Oxfam, which has just come out with a report titled ‘Inequality Kills.’

Dear friends, Greetings from the desk of the Tricontinental: Institute for Social Research. ‘[T]here is great intellectual poverty on the part of the right wing’, Héctor Béjar says in our latest dossier, A Map of Latin America’s Present: An Interview with Héctor Béjar (February 2022). ‘There is a lack of right-wing intellectuals everywhere’. Béjar speaks […]

Let’s debunk a myth. There is no “Nobel Prize in Economics”. On Nov 27, 1895, when Alfred Nobel signed his will, he left five prizes in alphabetical order to: chemistry, literature, peace, physics, and physiology or medicine. The Nobel Prize in Economics is declared after the Panchapandavas above.

The world has become more unequal in income and wealth in the last 40 years. That’s according to the World Inequality Report 2022.

2023 marks the fortieth year since the passing of Joan Robinson and her one-hundred-and-twentieth anniversary.

Economist Michael Hudson discusses the update of his book Super Imperialism: The Economic Strategy of American Empire and the financial motivations behind the U.S. new cold war on China and Russia.

As developing countries struggle to cope with the pandemic, they risk being set back further by restrictive fiscal policies. These were imposed by rich countries who no longer practice them if they ever did. Instead, the global South urgently needs bold policies to ensure adequate relief, recovery and reform.

A wealth tax would raise badly-needed revenue. More importantly, it could reduce the fortunes—and power—of billionaires.

Hello and welcome. I’m Lynn Fries producer of Global Political Economy or GPEnewsdocs. Today’s guest is Prabhat Patnaik. He is talking about his read on the history of capitalism that he breaks up into 5 periods from colonialism into the present.

The answer is plain to see: the two explanations are not contradictory. A combination of the two enables us to understand what has been happening right before our eyes.

In this episode, we’re joined by Rohan Grey (@rohangrey), President of the Modern Money Network, Director of the National Jobs for All Coalition, Research Fellow at the Global Institute for Sustainable Prosperity, and JSD student at Cornell Law school. Our conversation is dedicated to Rohan’s current work on the political, economic, and cultural implications of money’s digital future.

Ecological and social conditions are mostly ignored in a system in which profit is the goal: Fred Magdoff discusses capitalist agriculture