Economics
Your Privileges Are Not Universal: The Eighth Newsletter (2021)
Greetings from the desk of the Tricontinental: Institute for Social Research. By Vijay Prashad – @vijayprashad Stenciled in red on the walls of Santiago, Chile is a statement of fact: ‘your privileges are not universal’ (tus privilegios no son universales). This is a factual declaration because the privileges of power… »
A Minimum Wage? A Fake Debate
By Richard D. Wolff Capitalism’s “conservative” defenders yet again oppose raising the minimum wage. They fought raising it in the past much as they tried to prevent the Fair Labor Standards Act (1938) that first mandated a U.S. minimum wage. The major argument opponents have used is this: setting or… »
No to the privatization of the Brazilian Central Bank
By Marcos Arruda* Why have a Central Bank? Central banks are by nature public because they formulate and administer the MONETARY POLICY. And the objective of this policy is, by nature, investment in the “real economy”, i.e. the part of the economy concerned with socioeconomic development and the production of… »
Like a Colonial Ruler
Demands for new sanctions against Moscow are raised in Berlin: “We want regime change.” Among Germany’s ruling elites, demands for imposing new sanctions on Moscow and stirring up Russia’s younger generation are increasing. “The objectives we have in relationship to Russia are very big” explained Gabriel Felbermayr, President of the… »
How One Rural Community Creatively Solved Keeping Its Residents Well Fed During a Pandemic
The people of Comox Valley broke many molds to keep people fed through COVID-19 and got its government’s attention on food security. By April M. Short Hunger and food insecurity have increased worldwide since COVID-19 took hold. In December 2020, the United Nations warned of the threat of… »
Coup in Myanmar
Following Monday’s coup in Myanmar, the EU and the USA are considering imposing new sanctions on that country. Already on Monday, US President Joe Biden declared that he would immediately review the reintroduction of coercive measures. The EU announced yesterday that it will “consider all options at its disposal to… »
Lithuania a gateway for Indian firms to expand presence in Europe
Led by one of the youngest governments in the world, Lithuania is looking to broad-base ties with India in emerging high-growth areas like fintech, life sciences, digital technology and pharmaceuticals while offering a dynamic business environment to Indian investors, its ambassador Julius Pranevicius said on Sunday. The Lithuanian envoy… »
It’s Easy to Fix Inequality: Tax the Rich
There is no better time than now to address the ridiculous levels of wealth and income inequality in the United States. It can be done with ease through aggressive taxation of the wealthiest handfuls of individuals. By Sonali Kolhatkar As Democrats and Republicans jostle over the particulars of… »
Warren Blasts ‘Unconscionable’ $740 Billion Pentagon Budget While Millions Suffer From Poverty, Joblessness, and Covid-19
“A budget is about priorities,” said the Democratic senator. By Kenny Stancil “We continue to overinvest in defense while underinvesting in public health and so much more.” “We can spend less on the military and obtain not only the same amount of security, but more.” —Stephen Wertheim, Historian That’s… »
US Economy Excels at One Thing: Producing Massive Inequality
To solve the extreme inequality of US capitalism requires systemic change, an end to capitalism pitting employers against employees. By Richard D. Wolff To grasp the sheer magnitude of US economic inequality in recent years, consider its two major stock market indices: the Standard and Poor (S&P) 500 and Nasdaq. »
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