In Praise of Inefficiency: Should We Serve the Economy or Should It Serve Us?
Inefficiency, it turns out, has considerable upsides. Only the morbidly rich lose out when nations return to slightly inefficient but fully competitive marketplaces.
Capitalism | Economy | Online Blog | USA | World Economy
Four US Banks Crash in 2 months: Banking Crisis Explained by Economist Michael Hudson
Economist Michael Hudson discusses the collapse of four US banks in two months, giant JP Morgan Chase taking over First Republic Bank, and how government regulators are in bed with the bankers.
Why the Saudis Have Called Off Their Israeli Wedding
The latest Saudi moves and their implications for the United States and its client Israel can only be understood in the context of epochal geopolitical changes. Namely, the rise of China as a world power, its deepening alliance with Russia and the erosion of American power.
The World Bank and the BRICS Bank Have New Leaders and Different Outlooks
The BRICS Bank is a young institution compared to the World Bank, but it has considerable financial resources and will need to be innovative in providing assistance that does not lead to endemic debt. Whether it will be able to break with the IMF’s orthodoxy is yet to be seen.
Militarism and the Coming Wars
This essay is based on the preface to a Turkish translation of ‘Socialism or Barbarism: From the “American Century” to the Crossroads’ by István Mészáros. It was written prior to the U.S. invasion of Iraq.
The Bottled Water Industry Is Masking the World’s Failure to Supply Reliable Drinking Water to All
In 2016, the annual financing required to achieve a safe drinking water supply throughout the world was estimated to cost $114 billion, which amounts to less than half of today’s roughly $270 billion global annual bottled water sales.
The Intertwined Food and Climate Emergencies: Culpability
Contrasting images come to mind when it comes to hunger and climate: a world in which a child under age ten dies of hunger every five seconds and the oligarchs of agri-food and finance decide every day who on this planet will die and who will live. This article is about loss of both morality and of thinking.
China | Economy | Online Blog | Russia | USA | World Economy | World Politics
The Dollar Is in Trouble! Here Are 7 Signs that Global De-Dollarization Has Just Shifted Into Overdrive
For decades, the U.S. dollar was the undisputed king of global currencies, but now dramatic changes are happening. Much of the planet is preparing for a future in which the U.S. dollar will be far less important than it is right now.
Africa | Online Blog | USA | World Economy | World Politics
Slavery Did Not End in 1865
For more than a century after the Civil War, the treatment of Black Americans was so horrific that it is easy to see why these atrocities were left out of textbooks.
Authoritarian Macron on the Back Foot: Could France Explode?
President Emmanuel Macron has impose his pensions bill by decree, thus avoiding a parliamentary vote he would have lost. It has led to spontaneous demonstrations across France. The lower house of the Parliament is also set to vote on a motion of no confidence in the government.