Subjects Archives: Political Economy

The pandemic has effectively provided a laboratory-like demonstration that people do better when states can plan ahead, apply national resources unequivocally to the public good, put science in the service of the people, and practice international solidarity. These are characteristics of socialist societies.

Bumping elbows at the United Nations.

The coronavirus pandemic is a serious public health problem and the human suffering caused by the spread of this virus will be enormous. If it massively affects countries of the Global South with very fragile public health systems that have been undermined by 40 years of neo-liberal policies, the death toll will be very high. We must not forget the critical situation of the Iranian population, victim of the blockade imposed by Washington, a blockade that includes medicines and medical equipment.

COVID-19 has challenged humanity: on what principles do you organise your society? The pandemic could have been defeated by cooperation, planning, transparency, and social solidarity. But instead, it was born into a society based on competition, secrecy, lies, and greed.

On March 16, 2020, the chief of the International Monetary Fund (IMF) Kristalina Georgieva wrote a blog post on the Fund’s website; it represents the kind of generosity necessary in the midst of a global pandemic. “The IMF stands ready to mobilize its $1 trillion lending capacity to help our membership,” she wrote.

This month’s Money on the Left episode departs from the show’s regular interview format to reflect on the past, present and future of the Money on the Left project as a whole. We focus, in particular, on a recent special scholarly journal issue dedicated to Money on the Left, which was published by Liminalities: A […]

In April 2012, at the White House on her first visit to the United States since her election in 2010, Brazilian president Brazil Dilma Rousseff scolded advanced capitalist economies for unleashing a ‘tsunami de liquidez’, a ‘liquidity tsunami’, onto the developing world.

The political answer is not acceleration but refusal. And this is indeed what is has begun to manifest, in a variety of social rebellions. This includes the strikes of gig economy labor, the protests of Silicon Valley tech workers, anti-surveillance movements, urban protests against the smart city, defections from social media sites, algorithmic-bias busting, and “techlash” against the oligopolistic concentration of digital powers.

What are the underlying structural reasons for the coronavirus outbreak? According to Monthly Review Press author Rob Wallace, you have to look at global agriculture if you really want to understand the nature of global outbreaks.

In the midst of a pandemic, one would expect all countries to collaborate; that a humanitarian crisis of this magnitude would provide ample opportunity to end (or suspend) inhumane economic sanctions. Is this not the time for the imperialist bloc, led by the U.S., to end the sanctions against Cuba, Iran, Venezuela, and a series of other countries?

In the likely event that you need some news to give you a bit of faith in humanity today, you should know that supporters of whistleblower Chelsea Manning have raised over a quarter million dollars to pay the cruel, draconian fine that was heaped upon her for her principled stand against testifying at corrupt secret grand jury proceedings.

There are so many wheels coming off that analysts and the business press is on coronavirus crisis overload. And unlike 2008, the Fed can’t save anyone from the Grim Reaper.

The real danger of each new outbreak is the failure or—better put—the expedient refusal to grasp that each new Covid-19 is no isolated incident. The increased occurrence of viruses is closely linked to the proliferation of capitalist food production and distribution.

I am old enough to remember that shortly after the 1968 election of Richard Nixon to the presidency, his campaign manager (and future U.S. Attorney General) John Mitchell said, “Watch what we do not what we say.”

The money trail of U.S. Sanctions leads to the Federal Reserve Bank of New York, which—behind the shadow of secrecy laws that effectively prohibit any form of public accountability—facilitates the theft of public wealth from targeted countries on a scale only previously accomplished through military invasion and occupation.

As Naomi Klein laid out in her bestseller “Shock Doctrine,” the wealthy elite use the confusion caused by economic and other disasters to quickly force through pro-free-market legislation.

Elon Musk, the head of Tesla, wants to build an electric car factory in Brazil. He was supposed to meet Jair Bolsonaro, the president of Brazil, in Miami in early March, but he was too busy; instead, Musk will go to Brazil sometime this year.

In her recent volume Re-enchanting the World: Feminism and the Politics of the Commons (PM Press, 2019), Silvia Federici fruitfully brings together feminist reflections with discussions of the commons as a possible way of overcoming capitalism.

The U.S. blockade of Cuba is like the sun; neither will disappear soon. But different: the U.S. politicians and people are aware of the sun, but may have forgotten about the Cuba blockade. It’s persisted for almost 60 years, basically unchanged. The following is about change.

Lebanon’s state prosecutor suspended an order on Thursday to freeze the assets of 20 local banks, warning it would plunge the country and its financial sector into chaos, according to a copy of the decision seen by Reuters.