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Tag Archives: Globalization

Why There Is No “Crisis of Capitalism” — Branko Milanovic

Western dissatisfaction with globalization is wrongly diagnosed as dissatisfaction with capitalism, when in fact it is the product of the uneven distribution of the gains from globalization.... ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of Business Why There Is No “Crisis of Capitalism” Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic...

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Karl Marx’s Law of Value in the Twilight of Capitalism — Murray Smith

Global capitalism, with humanity in tow, is now facing a triple crisis: a deepening structural contradiction of the capitalist mode of production, one manifested as a multi-dimensional crisis of ‘valorisation’ – that is to say, a crisis in the production of ‘surplus-value’, the very lifeblood of the profit system; an acute crisis in international relations stemming from the fact that the global productive forces are bursting the confines of the nation-state system, whose individual units...

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Michael Hardt And Antonio Negri — Empire, Twenty Years On — V. Ramanan

Most important at this aristocratic level of Empire is the extent to which, despite appearances, its general contours remain unchanged. From this perspective, the much-heralded return of the nation-state—along with nationalist rhetoric, threatened trade wars and protectionist policies—should be understood not as a fracturing of the global system, but rather as so many tactical manoeuvres in the competition among aristocratic powers. The elite may no longer be titled aristocrats, but the...

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Lars P. Syll — Paul Krugman — finally — admits he was wrong!

Globalization not as represented by the free traders, who now have egg on their faces and have to eat crow. To boot, trade was supposedly Paul Krugman's specialty, even though he is best known for witing a popular macro textbook. So he was one of "the experts." Will the inapplicability of the ISLM "gadget " be next? So far, Paul Krugman is hanging onto it as it crashes and burns.Lars P. Syll’s BlogPaul Krugman — finally — admits he was wrong!Lars P. Syll | Professor, Malmo University...

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Trudeau’s proposed speculation tax

Posted by Nick Falvo under BC, bubble, cities, economic thought, foreign investment/ownership, globalization, housing, inequality, interest rates, investment, Liberal Party policy, monetary policy, municipalities, Ontario, party politics, prices, private equity, regulation, Role of government, taxation, Toronto, wealth. September 25th, 2019Comments: none I’ve written a blog post about the Trudeau Liberals’ recently-proposed speculation tax on residential real estate owned...

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Trudeau’s proposed speculation tax

I’ve written a blog post about the Trudeau Liberals’ recently-proposed speculation tax on residential real estate owned by non-resident, non-Canadians. The full blog post can be accessed here. Nick Falvo is a Calgary-based research consultant with a PhD in Public Policy. He has academic affiliation at both Carleton University and Case Western Reserve University, and is Section Editor of the Canadian Review of Social Policy/Revue canadienne de politique sociale. You can...

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Sergi Basco, Martí Mestieri — The new globalisation and income inequality

Trade in intermediates (or ‘unbundling of production') and trade in capital have become increasingly important in last 25 years. This column shows that trade in intermediates generates a reallocation of capital across countries that exacerbates world inequality in both income and welfare. Unbundling of production hurts middle-income countries but helps those with high productivity. Trade in intermediates also increases within-country inequality, and this increase is U-shaped in the...

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Don Quijones — Global Foreign Direct Investment Flows Collapse

More and more companies either choose not to invest in other countries or are prevented from doing so. Global foreign direct investment flows plunged by another 27% in 2018 — after having already plunged 16% in 2017 — to just $1.1 trillion, the equivalent of 1.3% of global GDP, the lowest ratio since 1999, according tonew data released by the OECD. It was the third consecutive annual plunge in global FDI flows, as more and more companies either choose not to invest in businesses or assets...

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Branko Milanovic — Shadows and lights of globalization

To think correctly about globalization one needs to think of it in historical context. This means seeing today’s globalization and its effects, positive and negative, as in many ways a mirror-replay of the first globalization that took place from the mid-19th century to the First World War.... That globalization was grounded in imperialism and colonialism.  WWI was the culmination of this, and the aftermath was its dénouement. That led to the rise of neo-imperialism and...

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Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony

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