Economics

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… »

Challenges, Opportunities and the Way Forward By Kester Kenn Klomegah As already known, BRICS is an association of five major emerging economies: Brazil, Russia, India, China and South Africa. South Africa joined the association in 2010. The BRICS has a significant influence on regional affairs… »

As Chile gets convulsed by the aggravating effects of the Covid-19 pandemic, the structural brutality of copper mining is being starkly outlined. At Codelco or the National Copper Corporation of Chile, approximately 3,000 workers have been infected with Coronavirus and El Teniente and Chuquicamata are the hardest hit regions with… »

By Yanis Varoufakis* While the media are reporting the news of the deadlocked EU Summit negotiations over the so-called ‘Recovery Fund’, an eerie silence prevails regarding the Elephant in the Room: The huge wave of austerity the Eurozone is sleepwalking towards. Let’s look at the facts. Even if the Dutch… »

EU talks on a shared coronavirus stimulus package have broken up temporarily, with the bloc’s leaders still at an impasse. Dutch Prime Minister Mark Rutte said progress had been made, but failure was still possible. EU leaders wrangled over the details of a €1.85 trillion ($2.1 trillion) post-coronavirus recovery plan… »