Understanding Money and the Dollar System with Radhika Desai & Michael Hudson
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.
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Amartya Sen’s Work Shows Us the Human Cost of Capitalist Development
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.
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Nestlé’s Blatant Misconduct Shows Us the Darkness of Capitalism
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.
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Davos 2023: Capitalist Rulers Incapable of Resolving Global Crises
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.
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While You Count Hours, They Count Billions
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.
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A Hard-Edged Rock: Waging Economic Warfare on Humanity
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.
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How Not to Deal with a Debt Crisis
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.
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Capitalism | China | Online Blog | Russia | World Economy
By the Numbers: The De-Dollarization of Global Trade
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.
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GMO | Online Blog | USA | World Economy | World Politics
In a Soybean Game Dominated by Capital, No One Wins
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.
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A Shrinking Fraction of the World’s Major Crops Goes to Feed the Hungry, with More Used for Nonfood Purposes
Rising competition for many of the world’s important crops is sending increasing amounts toward uses other than directly feeding people. These competing uses include making biofuels; and converting crops into processing ingredients, such as livestock meal and hydrogenated oils.
