The derailment of progressive Keynesianism by Obama’s conservative, technocratic Keynesianism resulted in a protracted recovery, continuing high unemployment, millions of foreclosed or bankrupt households fending for themselves, and more scandals in a Wall Street where nothing had changed. Obama did not pay for this tragic outcome in 2012, but Hillary Clinton did in 2016.
This paper focuses on how the global economic crisis unfolded in Europe, where a toxic mix of financial liberalization, highly-leverage banks, a poorly-planned euro and Germany’s years of structural adjustment created a deeply unbalanced and highly indebted European economy, that was brought into sharp focus as Wall Street banks collapsed. The result was the reversal of Europe's economic integration and a state of permanent crisis that continues to this day.
This paper dissects the Japanese bubble economy in the late 1980’s and early 1990’s and the Asian Financial Crisis in 1997-98 and shows how they shaped Asia’s capacity to deal with and respond to the 2008 global financial crisis. It looks at how China emerged seemingly unscathed, but warns that the inroads of speculative financial capital into China and East Asia along with ongoing problems of over-production means that a future financial crisis is highly probable.
Every day public banks are developing new and innovative ways of financing a green transformation. This issue brief explores the lessons from two public banks, one in Costa Rica and the other in Germany.
The rural communities in the Västernorrland county of Northern Sweden are not used to being in the national spotlight, but in 2017 their struggle to stop cutbacks in maternity and emergency care made national news. What are the lessons for all those involved in building counter-power in rural areas of the Global North?
The radical citizens' movement and party, Barcelona en Comú, has a goal of democratizing the relationship between civil society and city institutions by transforming the traditional structures of political parties and creating new formsof democratic political participation. Through the study of one of the city's many neighbourhood assemblies, Zelinka examines whether it is possible for a political organization to be movement and institution at the same time and what kind of challenges, conflicts and opportunities emerge through this undertaking.
Authoritarian politics have risen in the context of profound political, economic, social and ecological insecurity caused by corporate-led globalisation. The movement for economic localisation has the potential to unite communities, disarm authoritarian politicians, restore democracy and build a real economy based on sustainable use of natural resources.
Social movements need to grapple with not only building successful political parties and winning power but also with using that power strategically to best implement change. This report examines the critical role played by Movimiento al Socialismo (MAS) government employees and the challenges they faced in advancing a social and economic justice agenda within Bolivia. How can progressive government employees remain true to their political ideology while ensuring the execution of a professional and fair public bureaucracy?
Over several sunny days in June 2018, a diverse group of 60 activists and researchers from 30 countries convened for a multi-day meeting to discuss the collective building of post-capitalist futures. The meeting provided the opportunity for a rich exchange of perspectives and experiences, as well as deep discussion and debate. The goal of the meeting was not to achieve consensus both an impossible and unnecessary endeavour but rather to stimulate mutual learning, challenge one another and advance analyses.
Biagio Quattrocchi, Vanessa Bilancetti , Francesco Silvi
23 ဇန်နဝါရီလ 2019
Rome’s municipality has accumulated enormous debt, creating an emergency used to close any sort of public space, both physical and discussion. The narrative regarding the debt has been used to attack what we call the city of solidarity – groups, associations, and occupied places that are working to build community as opposed to accumulating profit.
The international bank transfer system, SWIFT, is a form of contemporary digital colonialism and surveillance capitalism as it is run by US firms and provides data to US government agencies. Drives by governments and philanthropists to increase use of digital money will only strengthen it further.