Latest Story

The Precariat and Climate Justice in the Great Recession

By alex.foti

The Precarious Question and the Climate Struggle
Fighting for Social and Ecological Justice. Because Climate Change Makes All of Us Precarious.
by Alex Foti
Precarity in the Great Recession
The Great Recession is making millions of precarious workers unemployed. Millions of precarious youth, women, immigrants are being made redundant. The crisis is swelling the ranks of the precariat, [...]

Guys, We R Busy for Climate Action: follow @actforclimate

By alex.foti

Thanx for all the messages and comments you sent and forgive us if we don’t have time anymore to post. We leave you with one prediction, there’s gonna be a huge social rebellion in the overdeveloped world in 2009-2010. The worst of the crisis is not over, certainly not for an increasingly precarious society, anguished [...]

It’s Gonna Dip Again, Dr Doom Says

By alex.foti

The risk of a double-dip recession is rising
By Nouriel Roubini, August 23 2009 18:55
The global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression. In the fourth quarter of 2008 and first quarter of 2009 the rate at which most advanced economies were contracting was similar to [...]

New Classical Macroeconomics Is Superstition

By alex.foti

By Robert Skidelsky, August 5 2009
It was to be expected that our present economic traumas would call into question the state of economics. “Why did no one see the crisis coming?”, Queen Elizabeth reportedly asked one practitioner. A seminar at the British Academy tried to answer and the FT has taken up the discussion.
The Queen’s [...]

Mainstream Macroeconomics Is Junk

By alex.foti

By Paul De Grauwe, July 21 2009
How to resolve this crisis in macroeconomics? The field must be revamped fundamentally. Some of its shortcomings are obvious. Before the financial crisis, most macroeconomists were blinded by the idea that efficient markets would take care of themselves. They did not bother to put financial markets and the banking [...]

Debt: The First Five Thousand Years

By admin

By David Graeber
What follows is a fragment of a much larger project of research on debt and debt money in human history. The first and overwhelming conclusion of this project is that in studying economic history, we tend to systematically ignore the role of violence, the absolutely central role of war and slavery in creating [...]