Sub-Saharan Africa is facing its greatest crisis in generations. The continent thus far has been less affected by the pandemic than other parts of the world. But the impact of the global economic crisis is already enormous.
Subjects Archives: Political Economy
The article seeks to re-emphasise that as capitalism exploits society and nature for its own expanded reproduction, it cannot but revolutionise the productive forces, in terms of science and technology. On the other hand, however, it also creates fetters to the realisation of the potential that it creates, by making it a slave to the logic […]
The election in Ireland in early February marked a clear acceleration of the country’s ongoing left turn over recent years. Then came the virus.
In the absence of strong support measures by governments across the world, the estimated loss of mostly informal jobs would result in rising poverty, starvation and inequality, an ILO report says.
The speaker is too poor to move to a different region, so they can only move slightly farther away from an inevitable problem.
There is an exodus of finance from the third world at present, far exceeding in scale what had occurred in 2008 after the financial crisis.
America’s billionaires have accrued more wealth in the past three weeks alone than they made in total prior to 1980.
In this blog post, I want to connect what we’re currently seeing in the retail sector during this pandemic to deep-seated narratives about the nature of economic exchange, in particular to the notion of “the market”.
A new report from the Institute for Policy Studies, “Billionaire Bonanza 2020: Wealth Windfalls, Tumbling Taxes, and Pandemic Profiteers,” reveals that the wealth of U.S. billionaires is indeed staying at home.
More than a dozen health experts working for the WHO in Geneva relayed regular information to Mr Trump about COVID-19, U.S. and international officials have confirmed.
Many people around the world are familiar with this ancient Chinese proverb. Today, this lovely metaphor has materialized and taken the form of a pandemic, wreaking havoc on a system where few felt safe and most had become accustomed to merely surviving.
We live in an era of plagues because of capitalist development, argues socialist author Mike Davis. But he also says coronavirus has exposed the gap between a tiny rich elite and the rest of us—and creates space to put forward socialist ideas
As the COVID-19 health crisis deepens, it looks increasingly clear that the short-term collapse in global output is likely to exceed that of any recession in the last 150 years–that is, in the entire history of capitalism. The ILO estimates that the crisis will lead to the destruction of 195 million jobs. Hence, after discussing […]
Developing countries face collapsing international trade, falling remittances, sharp reversals of capital flows, and currency depreciation. Only bold policies—debt relief, international financing, planning, and more—will avert further catastrophe.
The United States is currently experiencing a dystopian orgy of death and destruction.
The same proposals that were demonized yesterday as radical socialism are embraced today to save the society from collapse.
A great hazard looms. Under duress and as chaos mounts, capital may find it useful to revert to the extremist, even brutal, measures figuring in its past.
Suddenly, we find ourselves in a transformed world. Empty streets, closed shops, unusually clear skies, and climbing death tolls: something unprecedented is unfolding before our eyes.
Local budget cuts enacted a decade ago left states and cities dangerously unprepared for COVID-19. We shouldn’t make those same mistakes again.
How could Karl Marx (1818–1883) help us interpret the current crisis? His theory of history offers critical resources to interpret the unprecedented crisis which is shaking the world today, while indicating at the same time that ‘the world after’ so much mentioned could only be anti-capitalist.