Tag: economics

Israel-Hamas War: US arms industry stocks rocket (October 10)

NB: The only people benefiting from this conflict are arms dealers. Western establishments make immense profits from warfare, and have an interest in eternal conflict. As Orwell said, war has been abolished by becoming permanent. DS Defence majors such as Lockheed Martin, Northrop Gruman, Huntington Ingalls, L3Harris Tech and General Dynamics have gained at least… Read More Israel-Hamas War: US arms industry stocks rocket (October 10)

Dilip

Making Gaza Unliveable: Economic dimensions of the war on the Gaza Strip according to international humanitarian law

Palestine Economic Policy Research Institute – MAS – Year: 2023 Today, MAS issued the first edition of the “Economic Summary of the War on Gaza”, monitoring the comprehensively destructive approach adopted by the Israeli military forces in their war on the Gaza Strip. It focuses on Israeli policies and practices that affect the basics of human… Read More Making Gaza Unliveable: Economic dimensions of the war on the Gaza Strip according to international humanitarian law

Dilip

Pfizer to Charge $1,390 for Lifesaving Covid Drug That Costs Just $13

U. S. consumer watchdog Public Citizen on Thursday excoriated Pfizer after the pharmaceutical giant announced it would more than double the price of a lifesaving Covid-19 treatment, which will soon sell for an estimated 100 times the cost of production. Pfizer said Wednesday that it will price its patented Covid treatment nirmatrelvir-ritonavir—sold under the brand name Paxlovid—at $1,390 for… Read More Pfizer to Charge $1,390 for Lifesaving Covid Drug That Costs Just $13

Dilip

Climate Crisis: Economists have severely underestimated the Financial Hit

By Timothy Neal, UNSW Sydney Scientists say severe climate change is now the greatest threat to humanity. Extreme weather is expected to upend lives and livelihoods, intensifying wildfires and pushing ecosystems towards collapse as ocean heatwaves savage coral reefs. The threats are far-reaching and widespread. So what effect would you expect this to have on the economy… Read More Climate Crisis: Economists have severely underestimated the Financial Hit

Dilip

Britain, Europe, the New Cold War Finance & Technofeudalism. Talk at the Cambridge Union

Yanis Varoufakis On 7th February 2023, I returned to the Chamber to discuss a wide variety of issues, beginning with a Europe-at-war, post-Brexit Britain, the New Cold War that marks capitalism’s global transition to (what I call Technofeudalism), the state of the Left in Eastern Europe and more. Thanks Cambridge Union! https://www.yanisvaroufakis.eu/2023/03/24/britain-europe-the-new-cold-war-finance-technofeudalism-at-the-cambridge-union/

Dilip

‘Capitalism is dead. Now we have something much worse’: Yanis Varoufakis on extremism, Starmer, and the tyranny of big tech

We’re now in servitude to the fiefdoms of our new global masters, Lord Zuckerberg of Facelandia and Sir Musk of the rotten borough of X… Technofeudalism feels like an important new book. It’s a big-picture hypothesis rooted in a historical account of how capitalism came into being that describes what is happening in terms of an… Read More ‘Capitalism is dead. Now we have something much worse’: Yanis Varoufakis on extremism, Starmer, and the tyranny of big tech

Dilip

Halliburton equipment worth $7.1m imported into Russia in past year

US oil and gas multinationals are facing fresh questions over their trade with Russia after customs records revealed that more than $7.1m (£5.7m) worth of equipment manufactured by Halliburton has been imported into the country since it announced the end of its Russian operations. Last September Halliburton, one of the world’s largest providers of products and services… Read More Halliburton equipment worth $7.1m imported into Russia in past year

Dilip

World Bank spent billions of dollars backing fossil fuels in 2022, study finds

The World Bank poured billions of dollars into fossil fuels around the world last year despite repeated promises to refocus on shifting to a low-carbon economy, research has suggested. The money went through a special form of funding known as trade finance, which is used to facilitate global transactions. Urgewald, a campaign group that tracks global fossil… Read More World Bank spent billions of dollars backing fossil fuels in 2022, study finds

Dilip

National Westminster Bank boss worked for oil firm under investigation in ‘world’s biggest financial scandal’

The new chairman of NatWest is facing scrutiny over his former role with international oil group PetroSaudi, which is embroiled in one of the world’s biggest financial scandals. City veteran and former MasterCard boss Rick Haythornthwaite worked for PetroSaudi International (UK) Ltd, the oil group’s British arm, for eight years, earning £200,000 a year. The oil… Read More National Westminster Bank boss worked for oil firm under investigation in ‘world’s biggest financial scandal’

Dilip