Category: Economy
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Feral Capitalism Hits The Streets
“Nihilistic and feral teenagers” the Daily Mail called them: the crazy youths from all walks of life who raced around the streets mindlessly and desperately hurling bricks, stones and bottles … Keep reading »
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Eurozone Debt Crisis on the Road to Credit Crunch II?
The public debt crisis that is currently at its deepest in the Eurozone has its roots in the general crisis of capitalism. To attempt to solve capitalism’s crisis of the … Keep reading »
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Public Sector Austerity: Why is Canada Leading the Way?
The major economic problem faced by Canadians is a very slow recovery and weak job market, not government deficits or rising debt. But public spending cuts at the federal and … Keep reading »
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The Deficit Battle
The tension mounts as President Barack Obama and Speaker of the House John Boehner appear locked in a battle over how best to slash the federal deficit. The Treasury Department … Keep reading »
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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 »