Capitalism

To solve the extreme inequality of US capitalism requires systemic change, an end to capitalism pitting employers against employees. By Richard D. Wolff To grasp the sheer magnitude of US economic inequality in recent years, consider its two major stock market indices: the Standard and Poor (S&P) 500 and Nasdaq. »

By Mark Lesseraux Isn’t it ironic that over the last 40 years no American has received more (financial) government assistance than Donald Trump? Which begs the question: If our socio-economic system has “evolved” in such a way that it has been celebrating, subsidizing and… »

The United States, the wealthiest and most powerful nation in world history, is also number one in COVID-19 infections and deaths. As White House coronavirus advisor Dr. Deborah Birx warned last weekend, “It is extraordinarily widespread. It’s into the rural as equal urban areas. To everybody who lives in a… »

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… »

‘Capitalism, colonialism, and ecological devastation are all cause and effect of each other, and they coevolved together.’ Capitalism is the virus. I present this as both a literal and metaphorical statement. My aim is to supplant the “humans are the virus” claim. Let’s begin then with a very brief… »

Prof. Vandana Shiva | Navdanya International– Message for World Environment Day, 5th June 2020   On 31st May, while people were dying during the Corona Pandemic, while millions had lost their livelihoods and were going hungry during the “lockdown”, while millions were marching in city after city in… »

Brendan Montague The environmental campaigner and journalist argues we need to abandon capitalism as we recover from coronavirus and establish a new economy of private sufficiency and public luxury. The environmental journalist and campaigner George Monbiot has called for a complete transformation of the global economy away from capitalism towards… »

Now is the moment to transition away from an economic system that thrives on exploitation. The Covid-19 pandemic is tearing the neoliberal playbook apart as politicians and citizens realise that, in times of pandemic, markets won’t save the day. The privatisation-deregulation-austerity recipe is becoming obsolete, leaving ways for a diversity of interventionist… »

By Richard D. Wolff The desperate policies of panic-driven governments involve throwing huge amounts of money at the economies collapsed in response to the coronavirus threat. Monetary authorities create money and lend it at extremely low interest rates to the major corporations and especially big banks “to get them through… »

There is much debate about what the world will be like after the pandemic, and we really don’t even know when that will be. It may be that in some countries contagion will peak in a few weeks and then decline, but simultaneously contagion may advance in other nations. We… »