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Theory

The Pending Challenges of Development

by Martin Khor

20 June 2016

The Declaration on the Right to Development, adopted by the UN General Assembly in 1986 (as Document 41/128) is 30 years old. It is appropriate to celebrate this anniversary. For the right to development has had great resonance among people all over the world, including in developing and poor countries.

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Financial crisis or crisis of capitalism?

by Michel Husson

23 June 2010

The current crisis originated in the financial arena but quickly spread to all of the so-called real
economy. This observation raises two questions. A theoretical question: how to analyze the
relationship between finance and the real economy and their responsibility for the crisis? And a more
practical question: what are the channels of transmission from one to another and how to reverse financialization?

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Capitalism in Crisis, Government Impotent

by Rick Wolff

11 September 2009

Government policies over the last two centuries of capitalism’s ascendancy have neither ended nor replaced crises as the system’s method for correcting capitalist excesses.

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Bernanke’s Bad Teachers

by Gerald Friedman

11 August 2009

Bernanke closed his 2002 remarks with a promise. “Let me end my talk,” he said, “by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”

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STAGES IN THE NEW DEBT DEFLATION FISHER-MINSKY CRISIS

by Arturo Guillén R.

19 June 2009

The global crisis is the most important capitalist crisis since World War II. It is a new type of debt-deflation crisis, highlighting the limits of the finance-dominated regime of accumulation in place since the 1980s and characterized, among other things, by securitization, that is, a financing regime based on issuing securities and derivatives.

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Challenges and Possibilities: Learning from ALBA and the Bank of the South

by Martin Hart-Landsberg

22 May 2009

Three trends are highlighted : the failure of neoliberalism, the growing crisis of the East Asian model, and South American efforts to shape as well as advance an alternative development vision. It concludes with a brief discussion of responses to the challenges generated and possibilities afforded by these trends, highlighting six lessons for those working to build a more egalitarian, democratic, and sustainable world

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The crisis is far from over

by Michel Husson

19 April 2009

The degree of coordination among the capitalist authorities (governments, banks, IMF, sovereign wealth funds, European institutions, etc.) is advancing under the pressure of the emergency. But it is not enough to make us envisage the establishment of a new Bretton Woods.

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Their crisis, our challenge

by David Harvey

14 April 2009

The term ‘national bail-out’ is therefore inaccurate, because they’re not bailing out the whole of the existing financial system - they’re bailing out the banks, the capitalist class, forgiving them their debts, their transgressions, and only theirs

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World crisis: The key issue here is fear and lack of confidence

by Andrew Kliman

7 April 2009

I can’t make a prediction as to how far things are going to fall. But there is a danger of a collapse of prices and jobs well beyond the government’s ability to manage.

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Keynes, Capitalism, and the Crisis- Interview to John Bellamy Foster

by Brian Ashley,

29 March 2009

Keynes’s critique of capitalism never ceased to be relevant, as is now readily apparent. But economic orthodoxy was unable to move beyond Keynes to address the larger issues he raised (nor did Keynes himself in the end do so)

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