Author Archives: Marc

https://indybay.org/newsitems/2023/05/29/18856372.php James Madison (1751-1836), one of the founding fathers of the constitution, proclaimed that every form of government should be designed “to protect the minority of the opulent against the majority”. Madison tried to solve the tense relationship between the … Continue reading →

https://www.indybay.org/newsitems/2023/05/25/18856330.php The shift of profit-striving from the real- to the financial-economy lowered economic growth Unemployment and atypical jobs soared. The welfare state was weakened. At the same time, financial wealth grew exorbitantly (the DAX increased 14-fold since 1988). The development … Continue reading →

https://www.indybay.org/newsitems/2023/05/22/18856284.php Interventions have always been dictated by the geopolitical and economic interests of the country. In fact, the United States is no exception to this rule. On the contrary, every empire acts in this way (see, for example, the invasions … Continue reading →

https://www.indybay.org/newsitems/2023/05/19/18856159.php China’s growth is also running on credit, and the People’s Republic is as highly indebted as the descending Western centers of the world system.10 The Chinese deficit economy is generating even far greater speculative excesses than was the case … Continue reading →

https://www.indybay.org/newsitems/2023/05/17/18856114.php The construction of differentiated historical narratives that overcome one-dimensional perpetrator-victim polarizations in discourse with other affected nations and integrate one’s own complicity step by step is an extremely laborious, painful process. It will probably take decades, as the struggle … Continue reading →

https://geopoliticaleconomy.com/2023/05/10/ny-times-dedollarization-michael-hudson-paul-krugman-dollar/ Michael Hudson on de-dollarization [This interview posted on 5/10/2023 is available on the Internet, https://geopoliticaleconomy.com/tag/paul-krugman/.] (The following is a lightly edited transcript.) BEN NORTON: Hi everyone, I’m Ben Norton and this is Geopolitical Economy Report. I’m joined by the … Continue reading →

https://www.indybay.org/newsitems/2023/05/10/18855946.php The IMF granted large loans to the invaded country and enforces the so-called neoliberal “Washington Consensus”[1]. In a major privatization campaign, the Ukrainian government is selling off state assets. U.S. corporations such as ExxonMobil, Chevron and Halliburton participate in … Continue reading →

https://www.indybay.org/newsitems/2023/05/05/18855813.php China’s growth is also running on credit; the People’s Republic is similarly indebted to the descending Western centers of the world system. This trend toward de-dollarization can only be properly understood against the backdrop of the imperial descent of … Continue reading →

https://www.indybay.org/newsitems/2023/04/30/18855706.php For Putin, the intention to admit Ukraine to NATO was a breach of “the agreement made with NATO after the fall of the Berlin Wall not to expand it” (2:34:20). Just as the Americans claimed hegemony over the Western … Continue reading →

https://www.indybay.org/newsitems/2023/04/28/18855673.php The larger problem is financialization. Step by step, this conquered all areas of society. And finally it also reached the holy grail of the military-industrial complex. With financialization came the neoliberal market doctrines of capacity reduction, downsizing, “lean inventories,” … Continue reading →