Category: Economy

  • Neoliberalism: A Useful Concept?

    It is only over the past decade-and-a-half or so that scholars have begun to explore in greater depth the ideological roots of the neoliberal project. Such contributions tend to focus on the emergence of a distinctly neoliberal critique of ‘collectivism’ (especially as expressed in the post-war welfare state and the state-planned economies like the Soviet … Keep reading »

  • Tax Cuts: Its All About Capitalism

    Powerful corporations and the rich in the United States continue their winning ways. By narrow margins, both the House of Representatives and Senate have agreed on a budget proposal that calls for an increase in the federal deficit of $1.5-trillion in order to fund a major reform of the U.S. tax system that will make … Keep reading »

  • Costa Rica’s Banco Popular Shows how Banks can be Democratic, Green – and Financially Sustainable

    A decade on from the 2007-08 global financial crisis, the majority of private banks have changed very little. Most remain solely concerned with maximizing their returns, while sustainable or social goals remain subservient to this. For conventional economists, anything else remains an impossible or distant dream. But there is hope for a different kind of … Keep reading »

  • A Gap in Marx? Value, Nature and Society

    The metabolic exchange between nature and society in a mode of production based upon value So many accusations have been levelled against Karl Marx and, to an even greater extent, his friend and co-author Friedrich Engels in the 150 years since Capital was first published (in German in 1867) that the charges are almost too many … Keep reading »

  • The Duplicity of Law and the Cowardice of Capitalists

    Capitalism is ugly. The major villains at Goldman Sachs, J.P. Morgan, Citigroup, Barclays Bank, Royal Bank of Scotland, AIG, were not impelled by any desperate need they had to meet, or by their lack of education and opportunities, the circumstances that lead the poor to commit crimes. They were acting as self-seeking, greedy, venal individuals … Keep reading »

  • GE’s Switch

    The resignation of General Electric (GE) CEO Jeff Immelt last month is the latest sign of the broad restructuring of political and economic power currently underway in the United States. His departure, and John Flannery’s arrival, reveals a lot about the new phase of financialization that has emerged from the Great Financial Crisis. As financial … Keep reading »

  • Trumping NAFTA: Free Trade versus Democratic Planning

    Opposition to ‘free trade’ is in the air again, though not in the way most of us expected or hoped. Three decades ago, the move to guarantee, extend and deepen Canada’s economic integration with the United States by way of the bilateral Free Trade Agreement (FTA) between the two states mobilized an impressive though ultimately … Keep reading »

  • Anti-Austerity Geringonça in Portugal

    A new word has arisen in the European political debate: Geringonça. This new Portuguese political term geringonça (contraption), refers to the current minority government of the Socialist Party (center-left) supported in the parliament by radical left parties. The name Geringonça was coined by its conservative critics but became popular and is also used by supporters. … Keep reading »

  • NAFTA Redux

    The new Trump administration has made the North American Free Trade Agreement (NAFTA) between Canada, Mexico and the United States, a major issue in its relations with its two neighbours. Recently, Trump has threatened to tear it up. With his standard nationalist demagogy, he claims “previous bad trade deals,” have cost the United States many … Keep reading »

  • Monopolization and Labour Exploitation

    Those who advocate “freeing the market” claim that doing so will encourage competition and thereby increase majority well-being. These advocates have certainly had their way shaping economic policies. And the results? According to several leading economists, the results include the growing monopolization of product markets and steady decline in labour’s share of national income. Neither … Keep reading »

  • Trump’s Economic Policies Are No Answer To Our Problems

    President Trump has singled out unfair international trading relationships as a major cause of U.S. worker hardship. And he has promised to take decisive action to change those relationships by pressuring foreign governments to rework their trade agreements with the U.S. and change their economic policies. While international economic dynamics have indeed worked to the … Keep reading »

  • Toronto Mayor’s Housing Policies Costs Lives

    E ighty people have died in the last two years as a direct result of homelessness in Toronto. That’s one homeless person dying every 10 days. In 1985, people fighting homelessness started keeping track of these senseless, and entirely preventable deaths. Since that time, they’ve recorded over 800 deaths – lives sacrificed in service of … Keep reading »