Category: Economy
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Bail Out Financial Speculators, But Not Social Security or Medicare
Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human veins … Keep reading »
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Why Recent Bad Economic News Means It’s Time for Working Less
The economic news of the last few weeks has not been encouraging. In Europe, the various national debt crises remain unresolved, with a continued monopoly of banker-friendly austerity programs, and … Keep reading »
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Globalization And Its Consequences
Although capitalism has always been a global system, the international integration of production and finance and our dependence on cross-border activities seems greater than ever before. At the risk of … Keep reading »
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Germany and the Eurozone Sovereign Debt Crisis: the Lessons of History
“The eurozone has decided that the losses of private sector creditors should be socialized and the ultimate burden fall on the taxpayers of deficit countries. The latter will then suffer … Keep reading »
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Austerity, Security and Resistance
New York — 15 March 2011. As austerity measures intensify around the world, the axe has come down particularly hard on public- and private-sector unions, the un/underemployed, and those denied … Watch video »
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And They Call This a Recovery?
The strut of confidence is gone and the jitters are back. A flurry of dreadful statistics at the end of April made sure of that. On April 26 came the … Keep reading »
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Book Launch: Global Slump
Toronto — 20 January 2011. Introductions by Faria Kamal, Liam McNally and Syed Hussan: Jesook Song is an associate professor in Anthropology at the University of Toronto. John Clarke is … Watch video »
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The Great Recession and the Deficit
The Great Recession will take a long time to come to an end. Even the most optimistic forecasters expect the official unemployment rate in the U.S. to stay above 9 … Keep reading »
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Launch of the 2011 Socialist Register: The Crisis This Time
Toronto — 20 January 2011. Listen to audio on Radio4All website Introduced and moderated by Leo Panitch, co-editor of the Socialist Register: Sam Gindin, is a former research director of … Watch video »
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Like We Said, It’s a Global Slump
I have never accepted the postmodernist contention that contemporary capitalism is all about smoke and mirrors. The notion that ideology and illusion make the system go round strikes me as … Keep reading »
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Halo Came Off Canadian Recovery as 2010 Drew to Close
Canada’s recovery from the 2008-09 recession ground to a painful halt during the second half of 2010. The economy created no net new jobs from the summer onward, economic growth … Keep reading »
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Portugal: The Prospect of a Full Bailout and More Austerity Looms in 2011
A full financial bailout of Portugal involving the European Central Bank (ECB) and the International Monetary Fund (IMF) looks set to happen in the first half of 2011. This will … Keep reading »