China, capitalism and social justice

A few months ago, I wrote a brief piece on how China replaced Japan as the world’s number two economy, and I followed up with another piece on how China is expected to replace the US as the world’s leading economy in the next five years. A college student from China sent me an email, [...]

Spain: austerity, default or revolt

In the past year, I have been asked what options do Greece, Portugal and Spain have other than following austerity measures under the International Monetary Fund (IMF), European Central Bank (ECB), and EU. The answer depends on what kind of society do citizens want for themselves, and to what degree are they able to prevail [...]

Sexism, nationalism and power: the endless DSK soap opera

It seems that the scandal involving former IMF chief Dominique Strauss-Khan and the lady he had allegedly assaulted, has taken on a life of its on like a TV soap opera that has no end. It many dimensions include French nationalists on side making accusations against the US, American nationalists making accusations against the libertine [...]

The con-game of neo-liberalism

Behind the theory of neo-liberalism rests a con game by all of its apologists who profit from it at the expense of workers and the middle classes throughout the world. Based on Adam Smith’s WEALTH OF THE NATIONS (1776), liberal theory of economics rests on the political philosophy of John Locke, and the assumption that [...]

Capital accumulation & poverty

If wealthy nations are unable to accumulate capital by extending credit to debtor nations for civilian and military products and services during a contracting economic cycle at the level that they could during the expansionary cycle, how does the process of capital accumulation work during contracting economic cycles? In short, if accumulation does not take [...]

FOREIGN AID, GLOBAL POVERTY and the UN

On 20-22 September 2010, the UN celebrated the 10th anniversary of the Millennium Development Goals (MDG) program. This was with the intention of taking stock of the progress made thus far and to urge governments and the private sector to help meet the ambitious goals by the target date of 2015. The eight goals that [...]

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