Economics

By Medea Benjamin and Nicolas J S Davies Tensions between the United States and China are rising as the U.S. election nears, with tit-for-tat consulate closures, new U.S. sanctions and no less than three U.S. aircraft carrier strike groups prowling the seas around China. »

By Yanis Varoufakis* On 15th July, Ben Arc published in Bitcoin Magazine an open letter addressed to me in a bid to convince me that I should re-assess my rejection of Bitcoin as a force for good; as a bulwark for democratising capitalism and paving the ground for socialism. Here… »

After years of talking about abandoning the U.S. dollar, Russia and China are doing it for real. In the first quarter of 2020, the share of the dollar in trade between the countries fell below 50 percent for the first time. By Countercurrents Collective Goldman Sachs has issued a bold… »

We need immediate and comprehensive RENT RELIEF. We strongly support legislation that will be introduced to the New York State Assembly by Assembly Member Harvey Epstein. After listening to our concerns and heeding our input, Assembly Member Epstein drafted a bill that calls on landlords and tenants to face… »

By Vijay Prashad and Alejandro Bejarano On July 24, 2020, Tesla’s Elon Musk wrote on Twitter that a second U.S. “government stimulus package is not in the best interests of the people.” Someone responded to Musk soon after, “You know what wasn’t in the best interest of people?… »

Viewpoint by Jonathan Power* There is “Magic Money” around in case you didn’t know. Not quite made out of thin air, but getting on that way. This is a phrase invented by the economic writer, Sebastian Mallaby, in the new issue of Foreign Affairs, America’s leading foreign policy bi-monthly journal. It… »

By Richard D. Wolff In January 2020, the NASDAQ stock market’s index stood just under 10,000. In the March crash, it fell to 7,000. As of July 10, 2020, it hit 10,600. The U.S. government’s economic policies produced a “recovery” for the rich who own the vast bulk of stocks. »

Of course we all know that a lot has to change on this earth so that humans and animals have a viable future on this planet. In order to achieve this goal, you can and must bring about a system change in the political and economic area, or you have… »

Response measures have forced coastal communities in South Asia to choose between a super cyclonic storm or shelters with no physical distancing. South Asia, one of the world’s poorest and populous regions of the world, is struggling with control measures as Covid cases continue to rise. This public health crisis is being compounded by… »

The U.S. House of Misrepresentatives on Tuesday voted 324 to 93 (with 13 not voting) to defeat a proposal to move a mere 10% of military spending to human, environmental, and health needs. The 324 people who voted the wrong way on this really should never show their… »