Category: Economy

  • Global Finance, the Current Crisis and Challenges to the Dollar

    It is not often that we find ourselves living through financial turmoil so serious that the International Monetary Fund calls it “the largest financial crisis in the United States since the Great Depression.” Yet that is where we are today. Already, commercial banks have collapsed in both Britain and Germany, as has the fifth-largest investment … Keep reading »

  • Disaster in the Making: Canada Concludes Its Free Trade Agreement With Colombia

    What’s the monetary value of a Colombian trade unionist’s life? As it turns out, it depends on how many are killed in a given year since the potential fines the Colombian government will have to pay as penalty under its free trade agreement (FTA) with Canada whenever a union activist is killed is capped at … Keep reading »

  • Falling Wages, High Prices and the Failure of an Export-Oriented Economy

    In April 2008, after a wave of protests over low wages and high food prices, including an attempt to generate a general strike by many workers and social activists on April 6 and led by workers in the state-run textile industry, the Egyptian government suspended its export of rice and cement in order to meet … Keep reading »

  • Farmers Seek Defenses Against the Giants of Agribusiness

    Around the world, farm income is plummeting, pushing farmers off the land and into destitution. At the very same time, soaring food prices are putting tens of millions onto starvation diets. Welcome to the bizarre world of capitalist agriculture, where the drive to boost profits of giant transnational corporations is imperiling the production of our … Keep reading »

  • The Credit Crisis in Canada: The First Six Months

    The 2007 credit crisis irrupted in Canadian financial markets in mid-August. The immediate backdrop to this was the growing concern in financial markets about the value of assets underlying commercial paper, and especially the extent to which these assets were connected to a deteriorating real estate market in the United States. The subprime mortgage sector … Keep reading »

  • Differences between 1982 and 2007-2008

    In 1982, the external public debt crisis of the developing countries was triggered by the combined effects of the rise in interest rates imposed by the United States two years earlier, and the fall in prices of raw materials, particularly oil. The epicentre was in the South and the first casualties were the governments of … Keep reading »

  • Decline of the Dollar, Decline of the Empire?

    Toronto — 18 January 2008. Moderated by Leo Panitch. Presentations by: Chris Rude is a political economist with an interest in finance. He has taught economics at NYU and the New School and political science at York University in Toronto Scott Aquanno is a Ph.D. student at York University David McNally teaches at York University … Watch video »

  • Financial Capital: Crises Are Part of the Game

    Everything went well during the summer of 2007. The economy was in an upswing and stock-market prices rose even faster. Then the end of the housing boom in the United States triggered an international financial crisis. Up to now it has been contained by heavy central-bank intervention; but the euphoria is gone. The world of … Keep reading »

  • The Crisis in Manufacturing Jobs: Struggling for Answers

    The last weeks of May have seen major demonstrations of workers’ discontent with the crisis that has been unfolding in Canada’s manufacturing sector. Some 52,000 jobs have been lost in the manufacturing sector since January alone. The demonstrations were kicked off on May 23 by protests by the USW at nine plants, as part of … Keep reading »

  • The Auto Industry

    Concretizing Working Class Solidarity: Internationalism beyond Slogans by Sam Gindin. Keep reading »