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Subjects Archives: Political Economy

Time is running out

Time is running out

Richard Reeves is right about one thing: time is crucial to capitalism’s legitimacy. The premise and promise of capitalism are that the future will be better than the present. And “if capitalism loses its lease on the future, it is in trouble.”

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Agustin Marcarian/AFP/Getty Images Comments 3 Add to Bookmarks English Facebook Twitter Whatsapp The IMF’s Latest Victims

The IMF’s latest victims

In 2013, the International Monetary Fund produced a report acknowledging that it had “underestimated” the effects that austerity would have on Greece’s economy. Yet the Fund has made the same mistakes in its subsequent deals with Argentina and Ecuador.

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