Capitalism
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How Big Pharma appropriates knowledge and profits in a time of Coronavirus
6 October 2021 - by Eric Toussaint
Patents, TRIPS and Big Pharma… Not only does Big Capital not share scientific findings but it grabs them and makes others pay for them Knowledge, scientific discoveries, and technical processes ought to be common goods of humankind. Yet, as (...) -
The destruction and grabbing of collective commons
4 October 2021 - by Eric Toussaint
Since the dawn of capitalism the logic of collective commons has been systematically challenged by the capitalist class through commodification and private appropriation of wealth. One of their earliest objectives, when factories started to (...) -
Booms and bezzles
14 September 2021 - by Michael Roberts
Major stock markets are hovering near all-time highs and commodity prices (food and materials) are rocketing. At the other end of the scale, short-term interest rates are near or below zero, and even long-term government and corporate bonds are (...) -
The Austrian Business Cycle
2 August 2021 - by Michael Roberts
The Austrian school of economics is outside the mainstream. The Austrians start from micro-assumptions. This is not the neoclassical view of rational, fully informed human agents, maximizing their utility and profits. On the contrary, human (...) -
On the Authoritarian Turn of Global Capital and its Contradictions in the USA
25 June 2021 - by Fouâd Oveisy
There’s a tendency within certain factions of the US left to regard the case of former US president Donald Trump as an ‘anomaly’. In dealing with other personifications of capital, the contradictions of Marx’s critique of political economy seem to (...) -
Some notes on the world economy now
25 June 2021 - by Michael Roberts
To help think about what will happen economically in the second half of 2021 and into 2022, the CADTM reproduces this article written and published by economist Michael Roberts just over a year ago in May 2020. A sugar rush or economic (...) -
Pandemics and the capitalist destruction of nature
14 June 2021 - by Daniel Tanuro
The pandemic we’re coping with is a zoonosis. Zoonoses are infectious diseases caused by pathogens jumping species from animals to humans. The pathogen may be a virus, a bacterium or a prion. So far as we know, zoonoses have been present (...) -
United States withdraws from Afghanistan? Not really
17 May 2021 - by Noam Chomsky, Vijay Prashad
The US invasion of Afghanistan in October 2001 was criminal. It was criminal because of the immense force used to demolish Afghanistan’s physical infrastructure and to break open its social bonds. On October 11, 2001, journalist Anatol Lieven (...) -
Thomas Piketty’s Capital in the 21st century: an ABC
Thomas Piketty and Capital in the 21st century: accuracy in research and confusion in theory
5 May 2021 - by CADTM
While Piketty has gathered his data meticulously and provided a useful analysis of the unequal distribution of wealth and income, some of his definitions are somewhat confusing and even questionable. Consider, for instance, his definition of (...) -
Thomas Piketty’s Capital in the 21st century: an ABC
Thomas Piketty: a progressive global tax on capital
26 April 2021 - by CADTM
About Piketty’s central idea to create a global progressive tax on capital Piketty declares that “appropriate updating of the last century’s social-democratic and fiscal-liberal program is essential.” He believes that we must defend and improve (...) -
Thomas Piketty’s Capital in the 21th Century: an ABC
Neoliberalism: An increasing gap among incomes and tax gifts to Capital
15 April 2021 - by CADTM
Evolution of low and high salaries since the 1960s The May 1968 general strike in France led to a considerable increase in the minimum wage over 15 years We do not have room to sum up the evolution of income inequalities over the last two (...) -
Measuring Capital’s Super-Exploitation of People and Nature in South Africa: First-Cut Empirical Evidence drawing upon Rosa Luxemburg’s Methodology
7 April 2021 - by Patrick Bond
Introduction Super-exploitation is again a hot topic of debate within international political economy scholarship, in part because “accumulation by dispossession” (using David Harvey’s phrase) is so evident at this stage of the long capitalist (...) -
Series: Thomas Piketty’s Capital in the 21th Century: an ABC
The evolution of wealth inequalities over the last two centuries
1 April 2021 - by CADTM
In France just before the Revolution of 1789, the proportion of national wealth held by the top 10 percent was about 90 percent, and the fraction possessed by the top 1 percent was as much as 60 percent. After the Revolution, the proportion held (...) -
Series: Thomas Piketty’s Capital in the 21st century: an ABC
Concentration of wealth in the hands of the 1%
29 March 2021 - by CADTM
Piketty’s Capital in the Twenty-First Century [1] is an indispensable book for anyone interested in learning more about the unequal distribution of wealth in the world today. As I read this major 950-page study, which is supplemented by a large (...) -
Learning from Hilferding’s Finance Capital: Money, banking and crisis tendencies
25 March 2021 - by Patrick Bond
Introduction A century ago, as the Weimar Republic was set up in Germany, the leading Marxist strategist aiming to socialise the economy was Rudolf Hilferding (1877-1941). Although he was an Austrian, and was educated in Vienna as a (...) -
Thomas Piketty and Karl Marx: Two totally different visions of Capital
9 March 2021 - by Eric Toussaint
In his book Capital in the Twenty-First Century, Thomas Piketty has gathered his data meticulously and provided a useful analysis of the unequal distribution of wealth and income, yet some of his definitions are somewhat confusing and even (...) -
“Too late to be pessimistic! Ecosocialism or collapse”
27 January 2021 - by Daniel Tanuro, Mats Lucia Bayer
We interview Daniel Tanuro, author of the book “Trop tard pour être pessimistes! Écosocialisme ou effondrement”, published this year by Éditions Textuel. As an ecosocialist activist and member of the Anticapitalist Left, Daniel Tanuro is one of the (...) -
11 questions / 11 answers about the new global debt crisis and how it can be radically reduced
29 December 2020 - by Eric Toussaint, Olivier Bonfond, Mats Lucia Bayer
Introduction: The current crisis is the most severe since 1929. It is a multi-dimensional crisis of capitalism as it affects simultaneously democracy, health, the economy, climate, environment and social rights. The current health crisis (...) -
Books in the year of the COVID
21 December 2020 - by Michael Roberts
Every year, I do a post on books that I have reviewed during the last 12 months. What’s a bit surprising in this year of the COVID is that I did not review any books specifically on the pandemic. Even the excellent book by John Bellamy Foster, (...) -
How pension funds shape financialisation in emerging economies in Colombia and Peru
17 December 2020 - by Bruno Bonizzi, Jennifer Churchill, Diego Guevara
In early spring 2020 emerging economies (EEs) were hit by the largest ever episode of portfolio outflows. Stock and bonds were sold as investors flight to safer investments in Europe and the United States, showing once again the fragile nature (...) -
Illicit Financial Flows: Africa is the world’s main creditor
5 November 2020 - by Milan Rivié
In its latest report on Illicit Financial Flows (IFF) in Africa, UNCTAD (United Nations Conference on Trade and Development) discloses that 88.6 billion US$ from the continent go up in smoke every year. Not only must we ask questions about the (...) -
David Graeber (1961-2020): The Relevance of his Thought and his Struggle
16 October 2020 - by Eric Toussaint
The generally accepted idea that a debt must be repaid, with interest – which supposedly covers the risks taken by the bank, must be radically challenged. David Graeber did that through a historical analysis that takes into account humanity’s (...) -
The case for debt abolition: “We cannot afford not to rebel”
21 September 2020 - by Astra Taylor
By turning individual indebtedness into a source of collective leverage, debtors’ unions can exercise material power and coordinate campaigns of resistance. In 2008, around the same time Lehman Brothers collapsed and the mortgage market began (...) -
Lessons in what not to do
30 July 2020 - by Costas Lapavitsas
In 2017, Yanis Varoufakis published “Adults in the room”, a thick volume that became a huge global success and was even turned into a film by Costas Gavras two years later. The author was one of the protagonists of the Greek events of that decade (...) -
United States of America: Socialism for Big Capital and wild capitalism for the poor
10 July 2020 - by Eric Toussaint
While the US has been set ablaze since the end of May 2020 by a multitude of major antiracist demonstrations [1] and the ordinary working people of the world’s top power remain hard hit by the Covid-19 pandemic (as of 9 July 2020, in the United (...)
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