Subjects Archives: Political Economy

As the EU summit meeting convenes, Greece is dominating the agenda much more than Germany’s Chancellor Angela Merkel had wanted.  This week she has thrown cold water on the idea that Germany and other EU countries would take responsibility for helping Greece to roll over some of its debt, handing that job off to the […]

Harvard just announced its charges for the 2010-2011 academic year: $51,000 per undergraduate.  That covers tuition, fees, room and board.  It does not cover such things as clothing, books and computers, school supplies, room furnishings, cleaning expenses, travel to and from Cambridge, MA, and entertainment.  If we conservatively estimate these to cost another $9,000 on […]

On March 16, Homeland Security Secretary Janet Napolitano announced that she was cutting millions of dollars from SBInet, a high-tech “virtual fence” that Boeing Co. has been developing for use along the U.S. border with Mexico.  Her announcement came just two days before the United States Government Accountability Office (GAO) was scheduled to issue a […]

  Economist Heiner Flassbeck holds the German wage policy responsible for the problems of Greece. Neither the drastic Greek austerity program nor the proposed European Monetary Fund can help the euro zone out of its difficulties.  Instead, Heiner Flassbeck calls for higher wages in the Federal Republic of Germany in order to cope with the […]

  Zimbabwe’s land issue has generated unprecedented debates both within and outside the country.  The debates, which followed the dramatic occupations of white farms by rural peasants in the late 1990s, are generally polarised between those who support radical land reform and those who support market-orientated reforms.  The former stand accused of supporting Mugabe’s regime […]

The prospects for democracy, socio-economic development, and conflict resolution will suffer if the West continues to rely on punitive measures. This time, the warmongers’ silly season found its apogée in U.S. neo-conservative Daniel Pipes’ advice to Obama to “bomb Iran,” which appeared shortly after Tony Blair, having outlined why he helped invade Iraq, remarked ominously, […]

  The austerity measures imposed on Greek workers to reduce the deficits are nothing but a prelude of what may happen to the other European countries.  The Greek crisis demonstrates the divisions in the ruling class on the strategies to adopt. For the second time since December 2008, Greece is at the heart of politics […]

Alan Greenspan had a dream, or rather a nightmare.  Greenspan seems to have woken up in a cold sweat one morning in fear that the period of “disinflationary pressures” that had kept inflation low since the 1990s was about to end.  This was 2007, when he published his autobiographical economic treatise, The Age of Turbulence. […]

The nation state is once again proving its special usefulness as a vehicle for managing capitalist crisis.  Partly, this follows from the renewal of Keynesian monetary and fiscal policies.  Other key dimensions of state usefulness include its more direct provision of financial guarantees to private enterprises and its over-priced purchase of “toxic” assets (those that […]

China and India are generally regarded as the two large countries in the developing world that are the “success stories” of globalisation.  This success has been defined by the high and sustained rates of growth of aggregate and per capita national income; and the substantial reduction in income poverty.  Further, both China and India are […]

  Democracy Insurgent is a majority people-of-color activist group animated by principles of democracy, anti-racism, anti-imperialism, queer liberation, Third World Feminism, and workers’ power.  We are based in Seattle, Washington.  We are a member group of the UW Student Worker Coalition.  Find out more at <nobudgetcutsuw.blogspot.com> and <democracyinsurgent.org>.  Contact us at <d.insurg@gmail.com>. | | Print […]

This is an exercise in historicization.  This lecture concerns the relation between feminism, the movements of second-wave feminism, and the recent history of capitalism.  My aim is to try to shed some light on where the feminist movement stands today in the current crisis of capitalism. So, I want to tell a story that has […]

Of the roughly 56 million homes in the US today with mortgages, one in seven is “delinquent.”  That is over 7 million homes more than 30 days behind in mortgage payments.  Those homeowners face foreclosure procedures likely leading to evictions.  Very high (and still rising) unemployment levels guarantee rising mortgage delinquencies. Mass media and political […]

For some time now, Mr. Ben Bernanke, Chairman of the Federal Reserve Board, has been arguing that three observed phenomena in the world economy in the decade after 1996, viz. the substantial increase in the U.S. current account deficit, the swing from moderate deficits to large surpluses in “emerging-market countries”, and the significant decline in […]

From 21 January to 2 February 2010, Eric Toussaint and Olivier Bonfond — both involved in alterglobalization activism and members of the International Council of the World Social Forum, of the world coordination of social movements, and of the Committee for the Abolition of the Third World Debt 1 — participated in various events and […]

  Interview by Aleix Bombila, for En Lucha (Spain), of John Bellamy Foster, editor of Monthly Review, and author of Marx’s Ecology and The Ecological Revolution En Lucha: In your book Marx’s Ecology you argue that Marxism has a lot to offer to the ecologist movement.  What kind of united work can be established between […]

Alan Greenspan has been judged the economist most responsible for causing the Global Financial Crisis.  He and 2nd and 3rd place finishers, Milton Friedman and Larry Summers, have won the first — and hopefully last — Dynamite Prize in Economics. In awarding the Prize, Edward Fullbrook, editor of the Real World Economics Review, noted that […]

  The current Greek economic crisis has an aspect of ancient tragedy (for the Greek people) mixed with a bad theatrical farce (staged on behalf of the European and the Greek bourgeoisie). The farce comes first.  Till very recently the two establishment parties (the center-left PASOK and the center-right ND) preached that their economic policies […]

Well before the global financial crisis finally broke in September 2008, most people in developing countries were already reeling under the effects of dramatic volatility in global food and fuel markets.  From late 2006, prices of most primary commodities first increased very rapidly, then collapsed even more sharply from their peaks in May-June 2008. This […]

At a Paul Winter concert (I think it was) one summer in the 1980s I somehow found myself backstage at Carnegie Hall beside a very tall man.  I looked up — as it turned out to be, both literally and figuratively — and was shocked to see who stood next to me.  “God bless you, […]