Tag Archives: Neoliberalism

There was an IMF paper released in April 2018 – The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data – that had a long title but a fairly succinct message. It indicates that the IMF is still in a sort of schizoid process where the evidential base has built up so against the political voice and practice that the IMF has indulged itself as a front-line neoliberal attack dog that elements in its research division are breaking ranks and...

The connection could well be found in the great crisis the world entered in 2007–2008. Beyond what most observers remember—the “Great Crash” that followed the collapse of Lehman Brothers on September 15, 2008—the crisis is much deeper and persists to the present day. Because it is not a simple financial or economic crisis: it is rather the crisis of a mode of managing capitalism; that is, neoliberalism, which is based on putting the state at the service of capital, the financialization of...

David Graeber's review of Robert Skidelsky's Money and Government: The past and Future of Government. A TED talk, by Nick Hanauer, on how complexity economics is replacing "neoliberal" economics. He is especially interested in reciprocity. A 2014 interview by Bill Moyers, of Paul Krugman, on Piketty's book. Mariana Mazzucato, with a talk on the value of everything. She also has a 2013 TED talk. Heinz Kurz on the Cambridge capital controversy. Bertram Schefold on the CCC and his recent...

Yesterday (November 26, 2019), the news came out from the Hellenic Minister of Finance that Greece had completed its latest repayment of 2.7 billion euros to the IMF early (Source). They owed around 9 billion euros to the IMF. Greece had to go ‘cap-in-hand’ to its “European creditors” to gain permission to make the payment early, which they claim saves them crippling interest rate payments. The loans were locked in at 4.9 per cent per annum – usury rates by any definition. Celebration seems...

[embedded content] Old clip from C-SPAN. It's still worth watching. Strong critique of the failures of the IMF and neoliberal policies in leading to the crisis. We know now that the subsequent bubble pushed the major crisis for another 10 years.

Over the years it’s been clear to me that we live in a fictional world when it comes to economic matters. The mainstream has created this world that bears little relationship to reality and which serves the interests of a few at the expense of the majority. But the way in which this fiction is inculcated in the framing and language of our public debates leads the majority to think that the conduct of economic policy is somehow in their best interests, even if, at times, governments claim we...

G Carchedi and I have been working on some new empirical work, trying to gauge which countries are the imperialist ones and how much value they are able to extract from the dominated or periphery (we prefer those names rather than ‘Global North’ and ‘Global South’, which is too geographical). We emphasise that we are looking at the economic foundations of imperialism, not the political aspects or the superstructure if you like, ie the political control by imperialist countries over the...

“This set of circumstances is unsustainable and certainly can no longer be pushed as it has been pushed since 2008. That is why I believe that the world is approaching a big paradigm shift,” Dalio wrote. Governments are also battling large deficits, while pension and health care liabilities are increasing. The latter circumstance, he says, will result in an escalation of the wealth gap battle as the government decides whether to cut benefits, raise taxes or print money to address it. This...

This is a good analysis of the political economy of capitalism in general and as it applies specifically to the UK now. The links are important in developing the nuance.Stumbling and MumblingShoring up capitalismChris Dillow | Investors Chronicle

  Backgrounder. Alastair Crooke also touches on Latin America and the declining prospects of neoliberalism as inequality and social unrest increase. Strategic Culture FoundationThe ‘War’ for the Future of Middle EastAlastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy