Adam Tooze This Valentines day, Americans gifted each other in the order of 58 million pounds of chocolate, much of it wrapped in 36 million heart-shaped boxes. It was a particularly busy period for the global chocolate industry, which in 2020 processed c. 5 million tons of cocoa beans into chocolate confectionary, generating around 130 billion dollars… Read More The Closing of the Cocoa Frontier
Read an extract from It’s OK to Be Angry About Capitalism by Tim Adams fter the State of the Union address at the beginning of this month, the Wall Street Journal ran an opinion piece that argued: “Joe Biden is Bernie Sanders.” By this it meant that, somehow, by stealth, under the cover of darkness, a “democratic socialist” – both words apparently… Read More Bernie Sanders: ‘Oligarchs run Russia. But guess what? They run the US as well’
First posted March 30, 2019 Series: 1944-2019, 75 years of interference from the World Bank and the IMF (Part 1) In 2019, the World Bank (WB) and the IMF will be 75 years old. These two international financial institutions (IFI), founded in 1944, are dominated by the USA and a few allied major powers who… Read More Eric Toussaint: Concerning the founding of the Bretton Woods’ Institutions
A disclaimer is in order before I venture into the rest of this piece. These days, any hack of standing has to begin with a disclaimer to show that he is someone to be reckoned with, that his background is of interest to his readers, that he is pure as the driven snow, and that… Read More Avay Shukla: Of puppets, surrogates and the real Mccoy : a ‘crash’ course on the Indian stock market
J Jagannath US short seller Hindenburg Research fired another salvo at Adani Group and it involves Vinod Adani, the elder brother of Gautam Adani. “Forbes is out with a major article evidencing hidden Adani promoter pledges: A private Vinod Adani-controlled Singaporean entity pledged Adani promoter stakes for $240m in loans from a Russian bank. Zero disclosure of these… Read More Hindenburg alleges Gautam Adani’s brother pledged Adani Group promoter stakes for $240-mn loans from Russian bank
Madeleine de Trenqualye Naomi Klein published her first book on the climate crisis, This Changes Everything, almost a decade ago. She was one of the organisers and authors of Canada’s Leap manifesto, a blueprint for a rapid and justice-based transition off fossil fuels. In 2021, she joined the University of British Columbia as professor of… Read More ‘It’s inequality that kills’: Naomi Klein on the future of climate justice
Oxfam India’s latest report revealed that 84 percent of the country suffered a decline in wealth in 2022, even as the number of billionaires grew from 102 to 142. The report notes reduced state investment in public education and healthcare, along with an increased reliance on indirect rather than corporate taxes to raise revenue. In their 2013 book, JEAN DRÈZE and AMARTYA SEN analyze… Read More INDIAN INEQUALITY
(the) planet’s billionaires have collectively “earned” (and yes, that’s in quotation marks for obvious reasons) $2.7 billion every one of the last 730 days. Meanwhile, in 2021 alone, at least 115 million people fell into “extreme poverty,” with billions more hanging on by a thread. By 2030, Oxfam reports, the world could be facing the “largest setback in addressing global… Read More Poverty Amid Plenty
Bharat Bhushan If Adani was allegedly just another rogue businessman, a discussion in the Parliament and the institution of a transparent inquiry into allegations of market manipulation should have been the order of the day. However, the demand for an enquiry was stamped down in Parliament by the power of the presiding officers last week.… Read More Censoring debate in Parliament will not help the government
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After the truth-shower 