Subjects Archives: Global Economic Crisis

Snuggle in with us for another Cocoon Session where we give you a really cool and easy trick to hack your anxiety, talk about the way the quarantine is changing the world good and bad, and finally Caitlin has her proof that humans are not the problem after all.

The pandemic has effectively provided a laboratory-like demonstration that people do better when states can plan ahead, apply national resources unequivocally to the public good, put science in the service of the people, and practice international solidarity. These are characteristics of socialist societies.

The coronavirus pandemic is a serious public health problem and the human suffering caused by the spread of this virus will be enormous. If it massively affects countries of the Global South with very fragile public health systems that have been undermined by 40 years of neo-liberal policies, the death toll will be very high. We must not forget the critical situation of the Iranian population, victim of the blockade imposed by Washington, a blockade that includes medicines and medical equipment.

COVID-19 has challenged humanity: on what principles do you organise your society? The pandemic could have been defeated by cooperation, planning, transparency, and social solidarity. But instead, it was born into a society based on competition, secrecy, lies, and greed.

On March 16, 2020, the chief of the International Monetary Fund (IMF) Kristalina Georgieva wrote a blog post on the Fund’s website; it represents the kind of generosity necessary in the midst of a global pandemic. “The IMF stands ready to mobilize its $1 trillion lending capacity to help our membership,” she wrote.

President Trump is all in, touting his success in rebuilding U.S. manufacturing.  For example, in his state of the union address he claimed: We are restoring our nation’s manufacturing might, even though predictions were that this could never be done. After losing 60,000 factories under the previous two administrations, America has now gained 12,000 new […]

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.

This dossier is dedicated to offering an assessment of the moment we find ourselves in today. Part 1 provides a quick overview of planetary affairs; and Part 2 there are more detailed reports from our offices on their respective regions: South Africa, India, as well as the Caribbean and Latin America.

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 […]

You may recall that from 17 September 2019, the United States Federal Reserve injected massive amounts of liquidity into banks due to a quite abnormal situation on the repo market.(1) The repo market designates a mechanism used by banks to obtain short-term financing. They sell securities they hold in repurchase agreements (repo).

In response to the Wall Street decline, markets in Asia fell, with Japan’s Topix index down 1 percent while the Australian market dropped 2.9 percent, wiping $60 billion off share values. Markets in Europe also fell before recovering some of their losses later in the day.

The essays compiled in this special issue of Key Words address the theme of crisis. But which crisis?

Governments and central banks that were upbeat about global economic recovery are turning pessimistic. A coordinated fiscal stimulus across nations is the need of hour.

To fully appreciate the exquisitely excruciating crisis which the British state has landed itself in consider the fact that if Britain wants to get out of Europe it must surrender part of its sovereignty over Northern Ireland—and not only this, since there must be a border between Britain and the EU, this border must be drawn between Britain and the whole of Ireland!

“The overwhelming character of the ecological crisis will eventually…[force workers to recognize] that the main material conditions determining their lives are both economic and environmental—and indeed that the latter are more far-reaching.”

In this episode, we speak with Emma Caterine (@emmacaterineDSA), a law graduate and writer with more than a decade of experience working within economic justice, feminist, LGBTQ, and racial justice movements. We talk Democratic Socialists of America, MMT, the advantages of a federal jobs guarantee over a universal basic income, the place for sex work in a jobs guarantee program.

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.

A decade after the Global Financial Crisis, developing countries still bear the scars in the form of lower growth and investment rates.

In this episode, we speak with Fadhel Kaboub (@fadhelkaboub), associate professor of economics at Denison University and President of the Global Institute for Sustainable Prosperity. Fadhel outlines a new critical approach to postcolonial political economy, arguing that re-gaining financial sovereignty is a crucial next step for postcolonial nations hoping to achieve social, economic, and environmental justice.

The rise of extreme right wing politics is a response by sections of the ruling classes internationally to the economic stagnation.