Economy & Work

Debt and Climate Crisis in Sri Lanka and the World – Asoka Bandarage
| |

Debt and Climate Crisis in Sri Lanka and the World – Asoka Bandarage

ByTalia Baroncelli

Dr. Asoka Bandarage is an adjunct professor at the California Institute for Integral Studies and the author of a new book, Crisis in Sri Lanka and the World. Sri Lanka has had a minuscule carbon footprint, and yet the country is particularly vulnerable to the effects of climate change, coastal erosion, and flooding. She discusses the convergence of existential climate and debt crises in Sri Lanka, the latter resulting from IMF debt restructuring and the lack of a globally coordinated multilateral sovereign debt mechanism that places traditional and private lenders on an equal footing.

Corruption in Lebanon Propped up by the Transnational Capitalist Elite – Nadim Houry
|

Corruption in Lebanon Propped up by the Transnational Capitalist Elite – Nadim Houry

ByTalia Baroncelli

Widespread corruption in Lebanon is fostered by the country’s ruling class, whose business interests are enmeshed with those of international finance. Nadim Houry, executive director of the Arab Reform Initiative, explains how Lebanon’s culture of political impunity is tied to the reconstruction agreements put in place in 1990, at the end of the 15-year civil war. The ongoing political deadlock shields the authorities from scrutiny and allows for vulture capitalists such as the former governor of Lebanon’s Central Bank, Riad Salameh, to embezzle the country’s resources. At the same time, ordinary people are faced with crushing inflation.

Non-Aligned Movement +G77 (Group of Developing Countries) versus G7+NATO+OECD+World Economic Forum
|

Non-Aligned Movement +G77 (Group of Developing Countries) versus G7+NATO+OECD+World Economic Forum

ByLynn Fries

Jomo K.S. warns U.S. policies are driving the world towards war and depression, leaving developing countries with a strong vested interest to reconvene a new non-aligned movement and strengthen democratic institutions of global governance. Lynn Fries interviews Jomo K.S. on GPEnewsdocs.

Practical Radicalism: Community Wealth Building with Neil McInroy
|

Practical Radicalism: Community Wealth Building with Neil McInroy

ByColin Bruce Anthes

One of the few working-class movements scoring victories, democratizing ownership, and gaining momentum is the method of economic development called Community Wealth Building (CWB). Colin Bruce Anthes interviews Neil McInroy of the Democracy Collaborative on how CWB works, what it has accomplished so far, and its potential to lead a “new common sense” movement beyond neoliberal capitalism.

Debt Ceiling Theater and the Trump Parallel Universe
|

Debt Ceiling Theater and the Trump Parallel Universe

ByPaul Jay

Paul Jay interviews Tom Ferguson about the debt ceiling crisis in the United States. Ferguson explains that the debate over the debt ceiling is largely theater, with both Democrats and Republicans working together to cut spending while maintaining the appearance of opposition. He criticizes the Democrats for not raising the debt ceiling earlier when they had the opportunity and suggests that their reluctance is due to their desire to secure more campaign funding for future elections. Ferguson argues that the spending cuts rolled back are not significant enough to impact inflation and proposes alternative measures, such as taxing the wealthy and reducing defense spending, to address the issue. He also discusses the influence of money in politics and the Democratic Party’s efforts to weaken the progressive wing.

Part 2: Debt and the Collapse of Antiquity – Michael Hudson
|

Part 2: Debt and the Collapse of Antiquity – Michael Hudson

ByColin Bruce Anthes

In part two, Michael Hudson discusses his new book “The Collapse of Antiquity.” Hudson challenges the traditional beliefs about the fall of the Roman Empire, arguing that it was caused by a financial crisis brought on by excessive debt, wealth inequality, and the concentration of economic power. Hudson draws parallels to modern-day economies and highlights the dangers of financialization and wealth concentration.

Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)
| |

Debt and the Collapse of Antiquity – Michael Hudson (pt 1/2)

ByColin Bruce Anthes

We get a first look at the new book by renowned political economist Michael Hudson on the age-old battle between creditors and the real economy. Ancient Rome refused to adopt the practices of debt forgiveness and land redistribution previously understood to be essential. Instead, they instituted a rigid pro-creditor legal system, assassinating anyone who remotely threatened it–including Tiberius Gracchus, Julius Caesar, and Jesus. The empire devolved into a rentier economy, ultimately collapsing from within. Today’s neoliberal establishment increasingly defends this failed state framework, even as the same disastrous dynamics intensify.

Detroiters Fight to Reclaim Their City From Real Estate Vultures – Linda Campbell

Detroiters Fight to Reclaim Their City From Real Estate Vultures – Linda Campbell

ByTalia Baroncelli

Linda Campbell, Director of the Detroit People’s Platform, has worked as a community organizer in Detroit for decades. She speaks about local initiatives which advocate for investment in affordable housing and oppose the public financing of big real estate projects which have historically contributed to community land dispossession. She also applauds the Michigan Democrats’ recent repeal of right-to-work legislation and calls upon the political leadership to fight for higher wages, particularly for non-union workers not covered by prevailing wage protections.

End of content

End of content