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Jayati Ghosh speaks about the growing debt crisis in the global south, the IMF’s never-ending affinity for austerity and the need to confront the power of financial capital.Jayati Ghosh has already teamed up with Michael Hudson on this. Financial capitalism interfaces with neoliberalism, neo-imperialism, and neocolonialism by gaining control using investment and debt, enforced by the "rules-based order" to the advantage of financial capital, which the Global North/West uses to dominate the Global South/East. The Global South/East is waking up to this. Decolonization is in the air. Russia and China have teamed up to provide the power needed for resistance. The battle for control is on as the West, dominant for 500 years, faces a challenge to its continued dominance.MR OnlineDebtors of the
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Jayati Ghosh speaks about the growing debt crisis in the global south, the IMF’s never-ending affinity for austerity and the need to confront the power of financial capital.Jayati Ghosh has already teamed up with Michael Hudson on this. Financial capitalism interfaces with neoliberalism, neo-imperialism, and neocolonialism by gaining control using investment and debt, enforced by the "rules-based order" to the advantage of financial capital, which the Global North/West uses to dominate the Global South/East. The Global South/East is waking up to this. Decolonization is in the air. Russia and China have teamed up to provide the power needed for resistance. The battle for control is on as the West, dominant for 500 years, faces a challenge to its continued dominance.MR OnlineDebtors of the
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Jayati Ghosh speaks about the growing debt crisis in the global south, the IMF’s never-ending affinity for austerity and the need to confront the power of financial capital.
Jayati Ghosh has already teamed up with Michael Hudson on this. Financial capitalism interfaces with neoliberalism, neo-imperialism, and neocolonialism by gaining control using investment and debt, enforced by the "rules-based order" to the advantage of financial capital, which the Global North/West uses to dominate the Global South/East. The Global South/East is waking up to this. Decolonization is in the air. Russia and China have teamed up to provide the power needed for resistance. The battle for control is on as the West, dominant for 500 years, faces a challenge to its continued dominance.
MR Online
Debtors of the world, unite!
Liam Kennedy interviews Jayati Ghosh, Professor of Economics at the Centre for Economic Studies and Planning, School of Social Sciences, at the Jawaharlal Nehru University, in New Delhi
Originally published: Red Pepper on June 25, 2023 by Liam Kennedy
See also at MR Online
Europe is waking up to the fact that it is not a partner of the "Anglo-Saxons" but a vassal. The British fancy themselves as partners but that is wishful thinking owing to the "special relationship." But the UK has been vassalized too after losing the empire to the US post-WWII.
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Interesting not so much for Ukraine as for the requirements for a cashless society. Ukraine is nowhere near meeting them. In contrast, Sweden is mostly a cashless society de facto, but not de jure.
The concept of "cashless" is also interesting in that many if not most people think of "money" as the money-thing, or token, which is cash (bills and coin) in their thinking. For example, Article 1, section 8 of the US Constitution gives the federal government the power to "coin money."
Will War-Torn, Power-Starved Ukraine Be World’s First Cashless Economy? (Serious Question)
Nick Corbishley