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”

“Notes on Exterminism” for the Twenty-First-Century Ecology and Peace Movements / by John Bellamy Foster

Hiroshima Peace Memorial Park | photo credit: nippon.com Originally published in Monthly Review In 1980, the great English historian and Marxist theorist E. P. Thompson, author of The Making of the English Working Class and leader of the European Nuclear Disarmament movement, wrote the pathbreaking essay “Notes on Exterminism, the Last Stage of Civilization.”1 Although the world hasContinue reading ““Notes on Exterminism” for the Twenty-First-Century Ecology and Peace Movements / by John Bellamy Foster”

The class dynamics of the Fed’s recession program / by Nick Beams

Originally published: World Socialist Web Site (WSWS) on July 30, 2022 On Thursday, the Commerce Department reported that the U.S. economy shrank for the second quarter in a row, bringing it into a “technical recession.” The economic contraction is being accompanied by a series of layoffs that threatens to become a torrent as the economyContinue reading “The class dynamics of the Fed’s recession program / by Nick Beams”

Russia and the Ukraine crisis: The Eurasian Project in conflict with the triad imperialist policies / by Samir Amin

State flag of Ukraine behind a wall of anonymous protesters in Kyiv Ukraine (February 18, 2014). | MR Online | By Mstyslav Chernov/Unframe – Own work, CC BY-SA 3.0, Link. We [MR Online Eds.] wanted to draw readers attention to this piece by Samir Amin, which was written at the time of the Maidan CoupContinue reading “Russia and the Ukraine crisis: The Eurasian Project in conflict with the triad imperialist policies / by Samir Amin”

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”

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”