Beating around the bush: polycrisis, overlapping emergencies, and capitalism / by Güney Isikara

Photo: Jernej Furman Originally published in Developing Economics on November 22, 2022 It is in vogue nowadays to describe the multifaceted and intertwined crises of capitalism without referring to capitalism itself. Obscure jargon of ‘overlapping emergencies’ and ‘polycrisis’ are brought up to describe the complexity of the situation, and they serve, with or without intention,Continue reading “Beating around the bush: polycrisis, overlapping emergencies, and capitalism / by Güney Isikara”

The Indian economy since Independence / by Prabhat Patnaik

Indian Farmers – Bacbone of Economy | Photo credit: IJR The post-colonial state in India had two primary tasks before it: one was to overcome the hegemony of metropolitan capital, so that a development strategy in relative autonomy from imperialism could be pursued; the second was to attack landlordism both to free the agrarian populationContinue reading “The Indian economy since Independence / by Prabhat Patnaik”

The anatomy of inflation / by Jack Rasmus

Whether the Fed can succeed in taming inflation and do so without precipitating a recession remains to be seen but is highly unlikely. The focus of the U.S. media and economists for the past several months has been increasingly on inflation. In recent weeks, however, U.S. policymakers awoke as well to the realization that inflationContinue reading “The anatomy of inflation / by Jack Rasmus”

Inflation, wages, and profits / by David Ruccio

CEOs Get Huge Raises While Workers Suffer (Photo: Jobsanger) On one side of the debate are mainstream economists and lobbyists for big business, the people Lydia DePillis refers to as having a simple mantra: “Supply and demand, Economics 101.” In their view, inflation is caused by supply and demand in the labor market, which is allowing workers’Continue reading “Inflation, wages, and profits / by David Ruccio”

Neo-liberalism and anti-inflationary policy / by Prabhat Patnaik

Federal Reserve Board of Governors | Photo: Wikipedia Central banks all over the capitalist world are raising, or are about to raise, interest rates as a means of countering the currently rampant inflation, which is certain to push a world economy that is barely recovering from the effect of the pandemic, back towards stagnation andContinue reading “Neo-liberalism and anti-inflationary policy / by Prabhat Patnaik”

Report card on a failing economic system / by Greg Godels

On Friday, May 6, the Federal Reserve released data showing that consumer credit (debt) has been accelerating since the fourth quarter of last year, with revolving credit (largely credit card debt) speeding up at an even greater pace since the third quarter of 2021. Total consumer credit grew by an annualized rate of 7% inContinue reading “Report card on a failing economic system / by Greg Godels”

It’s past time for a $15 federal minimum wage / by Martin Hart-Landsberg

It may seem like a lot, but it’s not the most important change in the bill. (Photo: J. Scott Applewhite / AP) President Biden’s 2022 State of the Union Address included a call for a $15 federal minimum wage. According to an Economic Policy Institute study, a phased increase to a $15 federal minimum wage by 2025Continue reading “It’s past time for a $15 federal minimum wage / by Martin Hart-Landsberg”

Blaming workers, hiding profits in primetime inflation coverage / by Ines Santos and Luca GoldMansour

An NBC Nightly News segment (11/12/21) on the “Inflation Crisis” stressed the role of labor shortages. Rising prices directly impact virtually the entire population, so it’s not surprising that there has been a constant drumbeat of reports in the corporate media laying out the factors contributing to inflation as well as its economic and political consequences.Continue reading “Blaming workers, hiding profits in primetime inflation coverage / by Ines Santos and Luca GoldMansour”