economics
John Bellamy Foster: The great financial crisis: causes and consequences
The `third slump' and its consequences
By Phil Hearse
Audio: David Harvey on the `Enigma of capital' and the current capitalist economic crisis
A lecture by Professor David Harvey
City University of New York Graduate Center
November 14, 2008
1 hour 2 minutes
Listen now:
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Making the world's poor pay: The economic crisis and the Global South
[This article is available in Spanish: ‘Que pagu
Nationalisation — a key demand in the socialist program
By Dave Holmes
China and the global capitalist economic meltdown
By Peter Boyle
Action in Solidarity with Asia and the Pacific (ASAP) -- As the US, Japan and Europe slide into recession, the leaders of many smaller countries are desperately hoping that continued strong growth in the Chinese economy, which has contributed about 15 per cent of world economic growth in recent years, might save them from this meltdown.
Meanwhile, in Africa ... a tale of two `bailouts'
Rwandan President Paul Kagame distributes mosquito nets. Studies show that malaria, which kills more than a million Africans every year, could be contained in just a few years at the cost of $3 billion a year.
By Jean-Paul Piérot
Original October 11, 2008, l'Humanité article in French: ``Et pendant ce temps, l’Afrique …''. Translated by Gene Zbikowski
While Africa needs US$72 billion a year in aid, hundreds of billions are being freed up to pay Western banks for the consequences of speculation.
New African resistance from below to global finance
By Patrick Bond
October 25, 2008 -- A far-reaching strategic debate is underway about how to respond to the global financial crisis, and indeed how the North's problems can be tied into a broader critique of capitalism.
The 2008 world financial meltdown has its roots in the neoliberal export-model (dominant in Africa since the 1981 World Bank Berg Report and onset of structural adjustment during the early 1980s) and even more deeply, in 35 years of world capitalist stagnation/volatility. Africa has always suffered a disproportionate share of pressure from the world economy, especially in the sphere of debt and financial outflows. But for those African countries which made themselves excessively vulnerable to global financial flows during the neoliberal era, the meltdown had a severe, adverse impact.
John Bellamy Foster: `Capitalism has reached its limits'
Postscript to "The Financialization of Capital and the Crisis"
Ecosocialism 2025
