Economics

02.10.2012

India: Anti-Corruption Movement Withering Away

India: Anti-Corruption Movement Withering Away

By Shastri Ramachandaran* As skeletons keep tumbling out of the cupboard of a government besieged by corruption charges, an agitated people may well despair that battling corruption in India’s officialdom is a Sisyphean task. Far from gaining in momentum, the popular protest movement against corruption led by the Gandhian activist… »

20.09.2012

Eurozone: Record Unemployment Rate Hurts Consumer’s Confidence

Eurozone: Record Unemployment Rate Hurts Consumer’s Confidence

Record unemployment rates and budget cuts implemented by governments have caused a fall in consumer confidence within the Eurozone, the European Commission (EC) reported on Thursday. The indicator dropped to a negative 25.9 points from a negative 24.6 in August, an action also caused by dismissals and elevated inflation resulting… »

16.09.2012

Zambia – The Good, the Bad and the Chinese

Zambia – The Good, the Bad and the Chinese

China’s voracious appetite for natural resources has driven a boom of investments and aid to African countries. In the Southern African country of Zambia, Chinese companies are building roads, hospitals, sports stadia as well as reviving copper mines abandoned in the country’s Copperbelt region. The Chinese have also… »

06.09.2012

Spain’s Robin Hood Mayor and Landless Peasants Battle Bankers

In Southern Spain, Juan Manuel Sánchez Gordillo, mayor of the small town of Marinaleda, is helping organize a growing protest movement against the austerity measures imposed by the Spanish government. Sánchez Gordillo and the landless peasants that follow him are at the forefront of demonstrations seeking a radical change in… »

03.09.2012

Power Madness

[/media-credit] Christine Lagarde | Credit: MEDEF [CC-BY-SA-2.0 |Wikimedia CommonsThe International Monetary Fund’s director, Christine Lagarde, caused outrage in May 2012 when she said that what Greeks should do is help themselves collectively by all paying their taxes. Few days after, The Guardian made public that her salary –$467,940 a… »

06.07.2012

U.N. Calls for Tax on Wealthy to Aid World’s Poor

The United Nations is calling for a number of new taxes in a bid to help aid the world’s poor. In a new report, the World Economic and Social Survey calls for proposals including taxes on carbon emissions, financial transactions, and on the world’s billionaires. Robert Vos of the U.N. Department of Economic and Social Affairs unveiled the report. »

04.06.2012

Local currencies appearing in Greece, like they did in Argentina after the 2001 debacle

When it becomes clear to everyone that the all-powerful economists have little to offer other than more cuts, more austerity measures, more insults (“go pay your taxes” or “you’re poor because you are lazy”), then people realise it’s up to them, and real human creativity takes over. That’s how a crisis becomes an opportunity. »

01.06.2012

Europe: Unemployment Affects 11 Percent of Active Population

The economy in the euro zone, formed by the 17 countries linked to the euro, registered a unemployment level of 11 percent of the active population according tolocal sources today. The Statistics office Eurostat, said that the level is similar to the one reported last month, although it represents 1.1 percent more than the one in the same period of 2011. »

07.04.2012

In the Great Recession, Even Death Is Too Expensive for the Poor

Editor's Note: This story was written for New America Media as the first in a series of columns by Dr. Sanjay Basu called A Doctor's Word, exploring the impact of the recession on health care for poor people. It appeared in the San Francisco Chronicle's Insight and on SFGate.com, media from where Pressenza obtained it. »

15.03.2012

Goldman Sachs: not a “rotten apple” but the system itself

Goldman Sachs’s executive director’s resignation made big headlines. Accusations of corrupt and immoral practices appeared to suggest that this was a particular, perhaps isolated, case. Grateful as we are to Greg Smith for highlighting the shortcomings of the financial giant we should not be distracted from the fact that this is how the present system works. »

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