The COVID-19 Debt Deluge
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The COVID-19 Debt Deluge

Jayati Ghosh   Pandemics like COVID-19, alarming and destructive as they are, can serve a useful purpose if they remind everyone of the critical importance of public health. When a contagious disease strikes, even a society’s most protected elites must worry about the health of neglected populations. Those who have advocated privatisation and cost-cutting measures…

Economy Sliding into Stagnation
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Economy Sliding into Stagnation

Prabhat Patnaik   Changes in estimation methods have of late made statistics on the Indian economy increasingly bewildering; besides, whenever the statistics show the performance of the economy in a poor light, the BJP government simply suppresses them. Nothing however can suppress the fact that the Indian economy is sliding into a serious state of…

Capitalism, Socialism and Over-Production Crises
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Capitalism, Socialism and Over-Production Crises

Prabhat Patnaik   It is in the nature of capitalism to have “over-production crises”, i.e., crises arising from “over-production” relative to demand. “Over-production” does not mean that more and more goods keep getting produced relative to demand, so that unsold stocks keep piling up. This may happen only for a brief period in the beginning;…

Apartheid in the Global Governance System
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Apartheid in the Global Governance System

Jason Hickel   In my research I have argued that rising global inequality is driven in large part by power imbalances in the global economy, in that rich countries have disproportionate influence when it comes to setting the rules of international trade and finance.   Nowhere is this problem more apparent than when it comes…

France: Striking Workers Continue the Fight Against Neoliberalism
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France: Striking Workers Continue the Fight Against Neoliberalism

Alan MacLeod   January 21, 2020: Nationwide protests against the government of Emanuel Macron entered their seventh continuous week today in France, as between 187,000 (a government estimate) and 250,000 people (the unions’ count) took to the streets to oppose Macron’s plans to radically alter the country’s pension plan, seen by many as the crown…

World’s 500 Richest People Gained $1.2 Trillion in Wealth in 2019
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World’s 500 Richest People Gained $1.2 Trillion in Wealth in 2019

Jake Johnson   The 500 richest people in the world, all of whom are billionaires, gained a combined $1.2 trillion in wealth in 2019, further exacerbating inequities that have not been seen since the late 1920s.   That’s according to a new Bloomberg analysis published last week, which found that the planet’s 500 richest people…

A Note on the Communist Manifesto
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A Note on the Communist Manifesto

Harry Magdoff   Probably the passage in the Communist Manifesto most frequently cited these days is a portrayal of the global spread of capitalism:   “All old-established national industries have been destroyed or are being destroyed. They are dislodged by new industries, whose introduction becomes a life and death question for all nations, by industries…

‘Let’s Do This Everywhere’
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‘Let’s Do This Everywhere’

Julia Conley   Lawmakers in Kansas City, Missouri took a “visionary step” on December 5, 2019 by unanimously voting to make public transportation in the city free of charge, setting the stage for it to be the first major US city to have free public transit.   The Kansas City Council voted to direct the…

The Imperialism of Finance Capital and ‘Trade Wars’
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The Imperialism of Finance Capital and ‘Trade Wars’

Jacky Muniello and Soy Migrante interview Prabhat Patnaik   Hegemony of Global Finance   What is your first impression about the ‘trade wars’ initiated by Trump? Is this a serious policy shift or is there something else that we need to be aware of?   I    believe    that the    whole discussion   …