Economics

Perhaps soon basic income will seem like a worthwhile “thing” in the world, like universal suffrage or the right to divorce. The basic income proposal has been activated – a public, individual, unconditional and universal monetary allowance. If 30 years…

Even the US business magazine Forbes expressed surprise at the reimposition of US sanctions on Venezuela’s gold sales and its threat to do the same with oil. The oil sanctions especially, if reinstated, would precipitate higher gas prices and further debilitate the Venezuelan economy,…

According to Financial Times, Brazilian imports of diesel from Russia last year skyrocketed, with a staggering 4,600 per cent increase pertaining to total value – from $95 million worth of diesel purchases in 2022 to $4.5 billion. Purchases of fuel oil…

Latin America is emerging as the place to look for alternatives to the neoliberal economic system. In Colombia, the Gustavo Petro led government has spent the last year restructuring the previously isolated sector of small businesses and cooperatives. Petro wants…

Conditions and prospects are so bad that two well-known cheerleaders for globalization have called on rich nations to take urgent action. The former deputy managing director of the International Monetary Fund (IMF) and former vice president of the World Bank,…

After the consummation of Brexit, Germany’s hypothetical exit from the Euro would bring about the end of the Eurozone and the gestation of a new European economic cartography that would mean a return to watertight economic compartments. The “debt brake”…

When India promptly felicitated Bangladesh for holding a “free and fair” 12th National Elections, the government leaders in Bangladesh were visibly excited. Indian Prime Minister Narendra Modi congratulated his Bangladesh counterpart Sheikh Hasina on her “victory for a historic fourth…

In two months of existence, the Global Coalition for Social Justice has brought together 100 governments, trade unions, employers’ organisations and international institutions, the International Labour Organisation (ILO) said in a statement on Wednesday, 24 January. By IPS Correspondent With…

At the beginning of 2024, the world finds itself at an unprecedented juncture in history. A world war is underway, but it is unlike the previous ones. It is not called a world war and might not even be perceived…

Liu Guozhong, a Special Representative of Chinese President Xi Jinping, attended the 3rd South Summit in the Ugandan capital Kampala on Sunday, where he delivered a speech calling for further South-South cooperation and reform of the global governance system. This…