Economics
Why 5G Is the First Stage of a Tech War Between the U.S. and China
By Prabir Purkayastha The U.S. tech war on China continues, banning Chinese equipment from its network, and asking its Five Eyes partners and NATO allies to follow suit. It is a market and a technology denial regime that seeks to win back manufacturing that the… »
A Solution to Keynes´ Problem
´Keynes´ Problem´ is the lack of sufficient business activity in a modern market society. It is an economic problem that morphs into any number of crucial political and social problems. People depend on business activity to provide essential goods, and to avoid catastrophic bads. The catastrophic bad that weighed most… »
Why Taiwan Is at the Heart of a Geopolitical Struggle to Produce Cutting-Edge Computer Chips
Geopolitical contests between the U.S. and China hinge on technology more than the ability to deploy a gunboat somewhere; Taiwan could resemble a prototype for a tech proxy war. By Marshall Auerback The media likes to dabble in war game fantasies between the 21st-century great powers China and the U.S.,… »
Argentina’s debt restructuring deal explained
The Argentine government has struck a substantial debt deal with some major creditors, saving it billions. What exactly is the deal about and could it save the ailing economy? Argentina owes a fortune — $323 billion (€274 billion) as of the end of 2019 — which it cannot pay back. »
Why the Idea of Jobless Benefits Scares the Conservative Mind
The coronavirus pandemic has allowed us to conduct an experiment on how government assistance is good for people and the economy. By Sonali Kolhatkar When Congress passed the CARES Act earlier this year, lawmakers gave some low-wage Americans who lost their jobs an income they’ve been demanding for years: $600… »
U.S. Cold War China Policy Will Isolate the U.S, Not China
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. »
Why Bitcoin Is Not a Socialist’s Ally – Reply to Ben Arc
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… »
U.S. Dollar’s Grip on Global Markets Might Be Over, Warns Goldman
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… »
SOS: Save Our Storefronts! Save Our State!
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… »
‘We Will Coup Whoever We Want’: Elon Musk and the Overthrow of Democracy in Bolivia
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?… »
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