ASSA 2017 – part one: productivity and inequality

One of the main themes of this year’s annual conference of the American Economics Association, ASSA 2017, was whether capitalism was slowing down. Was the productivity of labour (output per ASSAworker or per hours worked) no longer growing at previous trend rates and indeed capitalism was entering some level...

Forecast for 2017

It has now been eight years of what I have called a Long Depression, since the Great Recession started in January 2008 (see Recessions, depressions and recoveries 071215).  So, in looking ahead to 2017, I thought it might be necessary to check what my forecasts or predictions were in...

The Gravity of a Possible New World Recession

  The world is experiencing a succession of convulsive processes of the class struggle, with revolutionary ascents (such as those lived in Chile, Haiti, Hong Kong, Lebanon, Iraq, and others), and also counter-revolutionary coups (as in Bolivia).              It is important to identify that there is a material basis for...

Panama Papers: evidence of an inherently corrupt system

A few days ago it came to light through the now famous Panama Papers (a leak of information from the Panamanian law firm Mossack Fonseca), the existence of offshore companies involving governments, politicians, businessmen, sportsmen, artists, etc., from more than 40 countries on five continents. What does this mean?...

What leaves 2018 and what is coming in 2019 for our struggles

No one can deny that 2018 was an intense year. Imperialism and the national bourgeoisies have not ceased in their attacks, standing firm in their intention to make the working class and the exploited people of the world paying for the economic crisis, which they generated. By Daniel Sugasti More than...

Debt Disaster With No Escape

The IMF-World Bank semi-annual meeting starts this week.  Earlier the IMF kicked off the show with a warning that the poor countries of the world are heading for a catastrophe from the pandemic slump, leading to defaults on the debts that their governments and companies owe to investors and banks in...

China: myths and reality

There is an interesting debate to the interior of Marxist tendencies on the current nature of the Chinese State. There are different points of view regarding this. However, the predominant idea is that in China, unlike in the former URSS, capitalism has not been restored, although deep pro-capitalist reforms...

What Lies Behind Trump’s Threat of Trade War?

"We are like the piggy bank that everyone is robbing, but this is over." With these words, US President Donald Trump announced that his country would not sign the G7 summit’s joint statement held in Canada on June 8-9. By Marcos Margarido.   A few hours earlier, Canada's Prime Minister Justin Trudeau...

Turkey: The beginning of the “Raki Effect”?

In 1994, the Mexican financial crisis had a strong international impact called the “tequila effect”. Currently, the crisis lived by the Turkish currency (lira) also begins to expand to other countries. Has the “raki effect” began? By: Alejandro Iturbe The current crisis of the Turkish lira was triggered by the announcement...

Decreasing of China’s growth is followed by an increase in working class struggles

The expectations were high when the Chinese government announced on April 14 the 2015 first-quarter growth figures of the country. Governments and banks around the world wanted to know if the reduction in the growth of the Chinese economy, expressed by the Gross Domestic Product (GDP) would be...

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