India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
Germany benefited from the cancellation of most of its debt in 1953, which was instrumental in helping the country regain its position as a leading economic power. Since then, no other country has received such favourable treatment. A discussion on the why and how of this debt cancellation.
Economists Radhika Desai and Michael Hudson explain the relations between money and debt, their role in imperialism, and the rise of the US dollar system.
His work is two-sided (or contradictory). Sen punches big holes in mainstream explanations for manifestations of poverty and deprivation that are caused, often directly, by capitalist development. And at the same time, Sen sets out a vision of development that promotes the expansion of capitalist markets.
Corporations like Nestlé are essentially doomsday machines: man-made creations that will ultimately destroy humanity if allowed to continue as they are. It continues to exist only because of the acquiescence and facilitation of its gross misconduct by governments and society.
Davos is where the lords of transnational capital and their agents gather to hammer out annually how they are to maintain and expand their rule. This year, uncertainty over their ability to manage the crisis, maintain control, restabilize global capitalism was on full display.
The richest 1% of the world now own nearly twice as much wealth as the rest of the world put together. These so-called ‘elite’ super-rich accumulated, or to be more precise, looted, nearly two-thirds of all new wealth worth $42 trillion created since 2020.
Why is much modern food of inferior quality? Why is health suffering and smallholder farmers being forced out of agriculture? Mainly because of the likes of Larry Fink of BlackRock – the world’s biggest asset management firm – and the economic system they profit from and promote.
A 100 years ago, Keynes had felt a package of government spending cuts and tax increases would be disastrous. Even worse would be imposing austerity on debtor countries. His arguments were not heeded and fascism in Europe followed. Yet those in charge of global economic governance appear to have learnt nothing.
Data suggests that US dollar reserves in central banks are dwindling, as is the influence of the US on the world economy. This presents a unique opportunity for regional currencies and alternative payment systems to enter the vacuum.
Once the producer of 90% of the world’s soybeans, China today has become the world’s biggest importer. This change is the result of manipulation of soybean production, supply and marketing chain by multinational food magnates.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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