Subjects Archives: Political Economy

Today the planet is an immense gulag. The resources of the periphery of the empire — the great majority of human beings — are channeled towards the imperial centre — the richest countries — in the manner of a colossal funnel. There are now in the world two practical routes of resistance to the US […]

Going Global Supporters and even critics of the European Monetary Union (EMU) often see its policies — its rejection of Keynesian demand management that was written into the Maastricht Treaty and later transformed into the Stability and Growth Pact (SGP), as well as its monetarist belief in the priority of anti-inflationary policies over any other […]

  The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, in such quantity as he might see fit, and reasonably expect their early delivery upon his doorstep; he could at the same moment and by the same means adventure his wealth in the […]

  The new economy has placed a variety of pressures on collective bargaining in Canada. These pressures should, in the first instance, be understood in the context of long-term Canadian economic under-performance. Lower growth and productivity performance than the US, combined with higher unemployment, has placed extensive labor market pressures on wages in Canada since […]

  The world watched as people of New Orleans were herded into the Superdome, only to find themselves in a wretched and unsanitary place with no food, water, or proper medical care. Those in areas of high flooding fled to their rooftops, begging rescue helicopters to airlift them to safety. Many died trapped in their […]

David Houston changed my life.  If it weren’t for Dave, I wouldn’t be a political economist, a political activist, and I wouldn’t have a sense of my life as part of a larger historical struggle for economic and social justice. Dave, along with his friend David Bramhall who concentrated on teaching undergraduates, were the sole […]

In the Spring of 2005, workers’ votes in France and the Netherlands made the difference in defeating the draft European constitution and ending socialist party control of the German state of Baden-Wurttemberg. In the few weeks after those momentous events, most politicians and reporters offered one basic explanation. It tells us much more about the […]

  [Author’s note: Let me repeat my invitation at the end of Part Three of this series. Readers are invited to submit short essays, about 1,000 words, about their work. What do you do? In what ways is your work satisfying? In what ways is it not? How could it be made better? Send your […]

Global capitalism is in danger. Leading lights of global finance capital are sending out warning signals with growing urgency and desperation. Alan Greenspan is puzzled, referring to the decline of long-term interest rates at a time of rising short-term interest rates as a “conundrum.” To solve the conundrum, Martin Wolf of the Financial Times argues, […]

On Monday, August 8th, Japan’s upper house of Parliament unexpectedly joined the French and Dutch electorates to give a sharp slap to neoliberal inevitability. Much to the totally delicious distress of all the usual suspects, from the Financial Times to the Christian Science Monitor, the parliamentarians turned down Prime Minister Junichiro Koizumi’s key piece of […]

When arguments turn to economics, most of us (a) flee, (b) fall asleep, or (c) give up and figure it’s just too hard to understand. But you can stand your ground, even if you have never taken an economics course. What it takes is being curious and willing to ask questions and challenge claims. It […]

Imports into the U.S. keep rising and the merchandise trade deficit keeps growing. Manufacturing jobs continue to disappear and wages and working conditions continue to worsen.  Increasingly, those who seek to explain these trends point to China.  It is true that China has become an export powerhouse, and the United States its main market.  China […]

Whatever might be terrorism’s deep origins, whatever the economic and political factors involved in it, and whoever might be most responsible for bringing it into the world, no one can deny that terrorism is today a dangerous and ethically indefensible phenomenon, which must be eradicated.