Without food sovereignty, private businesses will continue profiteering at the expense of the planet Davi Martins Imagine being able to provide food, shelter, medicine and clean drinking water for the 230 million most vulnerable people on Earth, and still having a cool $2bn in spare change. That’s the equivalent of the entire economic output of… Read More Food corporations paid shareholders $53.5bn while millions went hungry
How the US dollar shapes geopolitical power Herman Mark Schwartz What does the US dollar’s continued dominance in the global monetary and financial systems mean for geo-economic and geo-political power? In a recent article, Yakov Feygin and Dominik Leusder question whether the United States actually enjoys an “exorbitant privilege” from the global use of the USD… Read More The Dollar and Empire
More than £75bn was wiped off the FTSE 100 on Wednesday, as Swiss authorities stepped in to reassure panicked markets over the health of the embattled European banking giant Credit Suisse. The Swiss central bank and its financial markets regulator issued a joint statement on Wednesday evening, pledging to provide emergency funding if necessary. They… Read More More than £75bn wiped off FTSE 100 amid Credit Suisse crisis
Money and Empire: Charles P. Kindleberger and the Dollar SystemBy Perry Mehrling. Reviewed by Herman Mark Schwartz Money makes the world go round, or as Karl Marx put it, Geldgespräche, Quatsch-Spaziergänge. How does this work at the global or international level? Perry Mehrling’s elegantly written biography of the MIT economist Charles Poor Kindleberger illuminates the relationship between… Read More Money as Empire?
Moni Mohsin Last year, more than 800,000 Pakistanis left the country in search of better economic prospects abroad. With rocketing inflation and the rupee devaluing by 30% during 2022, millions of urban middle-class people have been pushed to the brink of poverty. Cataclysmic floods have ravaged the rural poor. With only enough foreign reserves to pay for less than… Read More Pakistanis are leaving our country in droves due to inflation and job losses – who can blame them?
Adam Tooze As far as we are currently able to judge, our best chance to halt the further escalation of the climate crisis through decarbonization of the economy depends on electricity and electrification. Given the current horizon of technological expectations, electric power and electric technology offer us the best chance of reconciling the insatiable desire… Read More Repowering the world: the challenge of electrification
How conservatives made him their icon and distorted his ideas Kim Phillips-Fein How did Smith’s ideas become so thoroughly integrated into conservative defenses of the free market against regulation? And are these the only ways of reading his work? These are the questions at the heart of Adam Smith’s America, Glory M. Liu’s intriguing account of… Read More The Betrayal of Adam Smith
Between ageing populations, shifting attitudes and challenges to capitalist beliefs, workers have unprecedented power James Meadway As strikes and labour disputes surge around the world, we appear to be at the beginning of a period in which the balance of power in workplaces and labour markets swings in favour of workers, having long been skewed… Read More Covid reshaped the global labour market – these strikes are just the start
TCA SHARAD RAGHAVAN A month after the release of the Hindenburg Research report, which claimed stocks of the Adani Group’s companies are substantially overvalued, its assessment seems to be turning out to be correct and in some cases — nearly exactly so. The report was released on 24 January. In its original report, Hindenburg Research,… Read More Month after Hindenburg report, Adani stock fall shows short seller’s findings could have been right
Jonathan Barrett Tens of millions of dollars worth of Australian retirement savings have been exposed to the beleaguered Adani Group as the Indian conglomerate faces a stock rout after allegations of fraud. Several major superannuation funds, including those that cater for government workers in Queensland and employees at the Commonwealth Bank (CBA), invested in the company after… Read More Adani stock rout leaves tens of millions in Australian retirement savings exposed
After the truth-shower 