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Subjects Archives: Political Economy

Osvaldo Martínez: “The Crisis Is Not an Abnormality in Capitalism”

  2009 started off badly.  The international economic crisis is the top priority of governments, companies, international organizations, and individuals preoccupied with having a roof to sleep under and food on the table. The situation has surprised almost everybody, albeit Cuba to a lesser degree.  Almost a decade ago, Comandante Fidel Castro warned that the […]

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Marxism and the Crisis of Capitalism

  Capitalism is going through its greatest crisis since the 1930s or before.  The banking system has been saved from meltdown (at least for the time being) only by extensive government intervention in the USA, Britain, and a number of other countries.  Stock markets all over the world have plummeted.  A long and deep recession […]

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There Is No Zombie Free Lunch

  It is a story that could make The Return of the Living Dead 6.  A group of good people huddle on a roof, with a limited supply of raw meat.  A crowd of zombies surrounds the house: hungry, mad, aggressive.  Fear spreads and bodies collapse; the odour is terrible.  The zombies smell blood and […]

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Keynes, Capitalism, and the Crisis

The essence of Keynes’s contribution was the demolition of Say’s law of markets. Say’s Law argued that supply created its own demand, so that there could never be an actual glut of production. Marx had rejected Say’s Law from the beginning, calling it “the childish babbling of a Say, but unworthy of Ricardo.” But neoclassical […]

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From the Crisis of Distribution to the Distribution of the Costs of the Crisis: What Can We Learn from Previous Crises about the Effects of the Financial Crisis on Labor Share?

Abstract The paper analyzes the possible distributional consequences of the global crisis based on the lessons of the past crises experiences.  The decline in the labor share across the globe has been a major factor that led to the current global crisis.  What we are going through is a crisis of distribution, and similarly the […]

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Why Labor Doesn’t Need a “House of Lords”

“Also being debated [at the AFL-CIO executive council meeting] is whether to create a mechanism to nudge past-their-prime union presidents to retire so unions are not stuck with tired, uninspired leaders.  One negotiator [of AFL-CIO/ Change-to-Win/NEA unity] talked of creating an advisory ‘Labor House of Lords’ to encourage older union presidents to step aside.” — […]

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Interview with Eric Toussaint

Interview with Eric Toussaint, President of the Committee for the Abolition of Third World Debt (CADTM), in Havana. Obama Picked People Who Brought You This Crisis as His Advisers What is your opinion of Team Obama? Toussaint: Obama picked the very people who are responsible for this economic fiasco.  Some hoped that Obama would appoint […]

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Feminist Organizing against the Gaza Conflict

Throughout the seemingly intractable Israel-Palestine conflict, civil society has been active in responding to crises and advocating for peace and justice.  Kathambi Kinoti of the Association for Women’s Rights in Development (AWID) interviewed Eilat Maoz, a general coordinator of the Coalition of Women for Peace, an Israeli organization that works for peace in Israel and […]

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The Reasons for Mobilization in Réunion

  Jean-Hugues Ratenon is President of the “Agir Pou Nou Tout” [Act for All of Us] Association, which is part of the Collective of Trade Unions, Political Organizations, and Community Associations of Réunion (COSPAR), the organizer of the social movement. The prefect of Réunion announced, on Thursday, 5 March, a decrease in the price of […]

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Industrializing amidst a Global Financial Crisis: Is It Possible?

The Center for Economic and Policy Research, Center of Concern and Heinrich Böll Foundation cordially invite you to: Industrializing Amidst a Global Financial Crisis: Is it Possible? with featured speakerHa-Joon Chang, Faculty of Economics, University of Cambridge and remarks byRogerio Studart, Alternate Executive Director for Brazil, World BankandMark Weisbrot, Co-Director, Center for Economic and Policy […]

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American Nightmare

They used to tell me I was building a dream, and so I followed the mob, When there was earth to plow, or guns to bear, I was always there right on the job. They used to tell me I was building a dream, with peace and glory ahead, Why should I be standing in […]

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