Exclusively in the new print issue of CounterPunch
MARX: A HERO FOR OUR TIME? — Suddenly, everyone from the Wall Street Journal to Rolling Stone seems to be talking about Karl Marx. Louis Proyect delves into this mysterious resurgence, giving a vivid assessment of Marx’s relevance in the era of globalized capitalism. THE MEANING OF MANDELA: Longtime civil rights organizer Kevin Alexander Gray gives in intimate portrait of Nelson Mandela and the global struggle of racial justice. FALLOUT OVER FUKUSHIMA: Peter Lee investigates the scandalous exposure of sailors on board the USS Reagan to radioactive fallout from Fukushima. SOUTHERN DISCOMFORT: Kim Nicolini charts the rise of Matthew McConaughey. PLUS: Mike Whitney on the coming crash of the housing market. JoAnn Wypijewski on slavery, torture and revolt. Chris Floyd on the stupidity of US policy in Ukraine. Kristin Kolb on musicians and health care. And Jeffrey St. Clair on life and death on the mean streets of an America in decline
Archives by Tag 'economics'
The Neoliberal Hoax
ROBERT HUNZIKER
Neoliberalism is the most powerful force in economic history; like a black hole in deep outer space, it consumes everything. The great prophets of neoliberal economic policies like Milton Friedman claim economic freedom is a necessary condition for political freedo...
Occupy World Street!
THOMAS H. NAYLOR
Ross Jackson is an interesting guy who has just published a very interesting and timely book entitled ...
Our Very Own Oscar Night in Rimini
MICHAEL HUDSON
I have just returned from Rimini, Italy, where I experienced one of the most amazing spectacles of my academic life. Four of us associated with the University of Missouri at Kansas City (UMKC) were invited to lecture for three days on Modern Monetary Theory (MMT) and...
Third World Capitalism
ROBERT HUNZIKER
How did this happen? America, the czar of capitalism, is becoming a third world country! According to the most recent U.S. Census Bureau report 46.2 million Americans are poor. Of course, the naysaying dissenters claim poor families, as defined in the U.S., include...
Economics 101
PAUL CRAIG ROBERTS
Last Friday (January 27) the US Bureau of Economic Analysis announced its advance estimate that in the last quarter of 2011 the economy grew at an annual rate of 2.8% in real inflation-adjusted terms, an increase from the annual rate of growth in the third quarter. ...
Austerity Does Not Grow the Economy
DEAN BAKER
The Federal Reserve Board issued new projections for the economy last week, and they are not pretty. It projects the unemployment rate will still be 8.2 percent at the end of this year, 7.4 percent at the end of 2013, and 6.7 percent at the end of 2014. To put this in ...
Draghi’s 489 Billion Euro Fakery
MIKE WHITNEY
ECB president Mario Draghi’s new lending facility–the Long-Term Refinancing Operation–has helped to pull the financial system back from the brink of another Lehman-type catastrophe, but it doesn’t address the fundamental problems that created the c...
The Real Reagan Economy
MICHAEL WALKER
Since the start of the presidential primary campaign, Republican candidates have missed few opportunities to laud the achievements of conservative hero and former president Ronald Reagan, or to portray themselves as his worthy successor. As Michele Bachmann declared after...
Woody Guthrie at 100
BILL MOYERS and MICHAEL WINSHIP
The traveling medicine show known as the race for the Republican presidential nomination has moved on from Iowa and New Hampshire, and all eyes are now on South Carolina. Well, not exactly all.  At the moment, our eyes are fixed on some big news from the great sta...
America’s Lost Decade
MARK WEISBROT
The American Economic Association’s annual meetings are a scary sight, with thousands of economists all gathered in the same place – a veritable weapon of mass destruction.  Chicago was the lucky city for 2012 this past weekend, and I had just finished participating ...
The Bogus Case Against the Minimum Wage Hike
DEAN BAKER AND JOHN SCHMITT
Eight states and one city (San Francisco) raised their minimum wage this week, providing a pay raise to just over ...
How to Succeed in Hedge Funding
PAUL BUCHHEIT
It’s an exciting time for you guys. You know you can beat those hedge fund managers. You’re better educated, you’re ambitious and creative. Go for $10 billion. Or maybe, a few years from now, you’ll be the first trillion dollar man! HereR...
The International Context of Global Outrage
ERIC TOUSSAINT
In 2011, social and political rebellion has re-emerged in the streets and on squares all over the world. It has appeared in new forms and been given new names: the Arab Spring, the Indignados, the Occupy Wall Street (OWS) movement. The main regions affec...
Europe’s Deadly Transition From Social Democracy to Oligarchy
MICHAEL HUDSON
The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to ...
Another Summit Fiasco
MIKE WHITNEY
When the book is finally closed on this week’s EU summit, it’ll be interesting to see what people remember the most. Will it be the proposed changes to the Lisbon Treaty, the new steps towards fiscal integration or the disgraceful behavior of David Cameron?...
Why Managed Democracy Always Fails in a Crisis
BORIS KAGARLITSKY
The crisis is developing exactly as expected. The inability of the authorities to cope with the rising wave of social problems has naturally spilled into the political sphere. At the same time, the mechanism of ”managed democracy” has yet agai...
Austerity for Europe
MARK WEISBROT
The house is on fire and the owners are arguing about what kind of safety regulations should be implemented in the future so as to prevent these types of fires.  That is what appears to be going on in the eurozone right now, as European leaders try to reach agreement on ...
The Baltic Tigers’ False Prophets of Austerity
JEFFREY SOMMERS, ARUNAS JUSKA, & MICHAEL HUDSON
The Baltic states have discovered a new way to cut unemployment and cut budgets for social services: emigration. If enough people of working age are forced to leave to find work abroad, unemployment and social service budgets will both drop. This simple mathematics...
The Decline of Imperial America
DOUG DOWD
Those reading Morris Berman’s Why America Failed: The Roots of Imperial Decline ...
Von Hayek Revisited – Warts and All
DAVID WARSH
Everyone in Boston of a certain age knows the story of Rosie Ruiz, the marathoner who crossed the Boston finish line in 1980 at 2:31.56, flabby thighs and all, having barely broken a sweat.  Despite mounting skepticism, she basked in the glory of having run the third-fas...
The One Percent Solution in Europe
SAUL LANDAU
Last month a Super Committee (12Members of Congress) failed to decide — fortunately — our economic destiny: where our tax money would go – or not. Yes, capitalism failed again. And with it went democratic procedures in the political arena. Big Facts: ...
An Irreversible Slide?
MIKE WHITNEY
“In every crisis there’s a point of no return….I’m increasingly convinced we’ve already passed that point of no return in Europe. The banks won’t lend to each other, the Germans won’t do Eurobonds, and the ECB won’t act as a lender of l...
Sham Wrestling at the World Economic Forum
P. SAINATH
The comforting thing about those sham wrestling ‘championships’ on television is that everybody knows they are a farce. Steroid-stuffed Cro-Magnons  stomp the living daylights out of  painkiller-primed  Neanderthals.  Good, unclean fun. The results are safely pred...
Who’s Talking About Corporate Profits?
QUENTIN GEE
Around this time last year, both the New York Times and the ...
Sucker Punched By Speculation
ALAN FARAGO
This terrible idea will not die: that the only way to revive the US economy is to reduce mortgages on homes and property purchased at speculative values. The fact that so many homeowners (like me) did not buy more house than they could afford, did not buy into the specula...