Already in the 18th century, British economists of the nascent capitalism were questioning the sustainability of this system around David Ricardo. What was initially very profitable would eventually become commonplace and no longer enrich its owner. Consumption could not eternally justify mass production. Later on, socialists, around Karl Marx, predicted […]
The Western model, based on capitalism and democracy, no longer manages to defend the general interest or guarantee popular sovereignty. By accumulating these two failures, it brings together the two ingredients of a generalized revolution.
We are beginning to see the warnings of the end of a capitalist economy that has led to massive global debts among countries and individuals due to a skewed system of inequality or rather a system of equality that favors the greedy and powerful group(s) who aspire total global control through their ownership of media, wealth, fear and misinformation.
France’s favorite sports are striking and street demonstrations. At heart, most French are revolutionaries and protestors. In France, the answer to every problem seems to be ‘aux barricades!’ (to the barricades!). Demonstrations are typically followed by a hearty lunch. But this time things in the Republique have gone way beyond […]
Part I The pattern of trade for the Weimar Republic, before the Great Economic Depression, was comparable with that of the Second German Reich (1871-1918) before 1914. However, from 1930 the real crisis of the German external trade was one of the outcomes of the Great Economic Depression. In contrast […]
The article deals with the Great Economic Depression of 1929-1933 and its negative consequences on the economy of the German Weimar Republic. The aim of the article is to present the main causes and consequences of the global economic and financial crises known as the Great Economic Depression and to […]
Parasites have a certain weight in history. Donors to a system, a state, a company, always claim to be giving back what they advertise as their hard earned cash. Andrew N. Liveris is one such character. Former CEO of the Dow Chemical corporation, he is a face associated with a […]
My father, a New York financier, used to call dubious stocks or bonds, “Chinese paper.” Last week, we saw a blizzard of Chinese paper, both in China and around the world. As manager of a sizeable investment portfolio (an unwelcome second job from my main work, journalism), I watched last […]
A senior European Commission economist has warned that a Third World War is an extremely “high probability” in coming years due to the disintegration of global capitalism. Seeing the systemic roots of this risk can help us avert catastrophe and build resilience. In a working paper published last month, Professor […]
The amount of energy we can extract, compared to the energy we are using to extract it, is decreasing “across the spectrum — unconventional oils, nuclear and renewables return less energy in generation than conventional oils, whose production has peaked — and societies need to abandon fossil fuels because of their impact on the climate.
President Trump is absolutely not the « unpredictable » character so often described. Quite the contrary, he acts in a clearly thoughtful and logical manner. Donald Trump is preparing a reorganisation of international relations. This change is against the interests of the transnational ruling class.
‘When the rich get richer they get more powerful and that puts them in the position to lobby for policies that make them richer still’– former Clinton advisor Larry Summers. I briefly read the French economist Thomas Piketty’s best seller CAPITALISM IN THE 21st CENTURY. The theme of Picketty’s work […]