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Greece: another chapter

22 May 2023 - by Michael Roberts

The Greek election results validate Michael Roberts’ analysis and projections. Unfortunately, the right has triumphed because Syriza is not a real alternative [ed.]. Greece has a general election today. The conservative New Democracy party (...)
Debt : Eric Toussaint at Université Paris Cité on January 31, 2023

20 May 2023 - by Eric Toussaint

Eric Toussaint, spokesperson for CADTM International, spoke on the debt crisis and the global capitalist system at the Economic Policies for Global Transition (EPOG) seminars. The seminar was held at the Université Paris Cité on January 31, (...)
We still need a debt jubilee: 25 years on from the Birmingham human chain

19 May 2023 - by Tim Jones

Twenty years ago today, as a wide-eyed 16 year old, I went on my first ever protest. Travelling to Birmingham with a group from my church, we joined 70,000 others to surround the G8 summit, demanding debt cancellation for 52 impoverished (...)
The Fitch rating agency downgraded France’s rating.

France Shown Yellow Card

13 May 2023 - by Yvette Krolikowski

On Friday 28 April 2023, the Fitch financial rating agency downgraded France’s rating from AA to AA- with ’stable outlook’. The agency said, “Political deadlock and (sometimes violent) social movements pose a risk to Macron’s reform agenda and could (...)
A multipolar world and the dollar

24 April 2023 - by Michael Roberts

Christine Lagarde, the head of the European Central bank (ECB), made an important ‘keynote’ speech last week to the US Council of Foreign Relations in New York. It was important because she analysed recent developments in global trade and (...)
Banks on the Brink? The Origins, Nature, and Trajectory of the Crisis

19 April 2023 - by Ashley Smith, Michael Roberts

The banking industry has been beset by a series of failures, government bailouts, and takeovers. The crisis in these banks has sent stock markets around the world into gyrations. What caused all of this? Is this a passing crisis? What impact (...)
Well founded pessimism

17 April 2023 - by Michael Roberts

Only last February, I posted that there would be a ‘mild recession’ in US economic activity this year. And according to economists at the Bank of America, there are plenty of signals that suggest a recession in the US has not been avoided and (...)
May 1968 - March 2023!

27 March 2023 - by Yorgos Mitralias

At a time when those who declare, even among the French elites (!), that we are witnessing the emergence of a “new May 68” are multiplying, while noting that in the country now reigns .... “an insurrectional atmosphere”, one can now reasonably ask: (...)
ABC of Debt System

6 March 2023 - by Eric Toussaint

Abstract: This article argues that the indebted weaker countries are not the cause of sovereign debt crises and the outcomes of debt crises are directed by big banks and the governments that support them. It begins with a historical overview of (...)
The World Bank: a Critical Primer by Eric Toussaint - Part 2

15 February 2023 - by Samantha K.S

The second part of the discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer
The World Bank: a Critical Primer by Eric Toussaint - Part 1

5 February 2023 - by Samantha K.S

An interesting discussion on the World Bank based on Eric Toussaint’s book, The World Bank: a Critical Primer
The Dakar Declaration – Pan-African cooperation & global solidarity

1 February 2023 - by Collective

Scholars and activists from Africa, Asia, Europe, and North America, came together to draft the Dakar Declaration last year. The declaration condemns the constraints to Africa’s economic and monetary sovereignty. Against the multifaceted crises (...)
Davos 23: going pear-shaped

23 January 2023 - by Michael Roberts

This week, the jamboree of the rich global elite of the World Economic Forum (WEF) has started again after the COVID interregnum. Top political and business leaders have flown in on their private jets to discuss climate change and global (...)
World Economic Forum plutocrats suffer vertigo on contemporary capitalism’s roller-coaster

17 January 2023 - by Patrick Bond

Part 1: The context of extreme financial devaluations The World Economic Forum is meeting in Davos this week. The gathering of many of the wealthiest corporate elites and state leaders compels consideration of directions global capitalist (...)
Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years

17 January 2023 - by Oxfam

The super-rich outstrip their extraordinary grab of half of all new wealth in past decade. Billionaire fortunes are increasing by $2.7 billion a day even as at least 1.7 billion workers now live in countries where inflation is outpacing wages. (...)
Forecast 2023: the impending slump

10 January 2023 - by Michael Roberts

At the end of every year, I attempt to make a forecast on what will happen in the world economy in the next year. Of course, forecasts are wrapped in error, given the many variables involved that drive economies. Weather forecasts are still (...)
The US rate of profit in 2021

20 December 2022 - by Michael Roberts

Every year, I analyse the US rate of profit on capital. This is because the US data is the best and most comprehensive to use and because the US is the most important capitalist economy, often setting the scene for trends in global capitalism. (...)
Powell’s pivot and the impending slump

8 December 2022 - by Michael Roberts

Stock markets rallied in November as inflation rates subsided a little and the US Federal Reserve began to talk of lower interest-rate hikes from hereon. Financial investors are hoping that the Fed is set to ‘pivot’ from tightening monetary (...)
Another cop out?

10 November 2022 - by Michael Roberts

COP 27 started over the weekend. COP stands for the conference of the parties under the UNFCCC. Under the 1992 UN framework convention on climate change (UNFCCC), every country is treaty-bound to “avoid dangerous climate change” and find ways to (...)
Greta Thunberg: The Climate Event

6 November 2022 - by Greta Thunberg

Greta Thunberg calls for an urgent strengthening of the fight for climate justice and says that only mobilisation can force governments to act. Her speech starts at 21 minutes 21 seconds and lasts 14 (...)
The UK government’s economic policies under...

1 October 2022 - by Michael Roberts

The UK government’s economic policies under new PM Liz Truss have caused a stir among, not only leftists, but also among mainstream economists. The new government says the solution to the stagnation and failure of British capitalist production (...)
Down the Jackson Hole

27 August 2022 - by Michael Roberts

Jay Powell, the chair of the US Federal Reserve, made a keynote speech at the annual summer symposium of central bankers in Jackson Hole. Powell reckoned that inflation was still too high and so the Fed’s tightening cycle was far from done. (...)
Philanthrocapitalism seen from South Africa

9 August 2022 - by Patrick Bond

Presentation to the African Philanthropy Academic Conference, 2 August 2022 University of the Witwatersrand Business School Centre on African Philanthropy and Social Investment, by Patrick Bond, Distinguished Professor of Sociology, University (...)
About ’Rogue Capital’

8 July 2022 - by Jean Nanga

The CADTM publishes a commentary by Jean Nanga on the notion of rogue capital mentioned in the interesting study entitled “The financialisation of malaria in Africa: Burkina Faso” (April 2022), produced by Sasha Mentz-Lagrange and Stefanie (...)
The global solution: private or public?

4 July 2022 - by Michael Roberts

Inflation, risk of global recession, growing inequality and rising debt for the global south, global warming, war – I could go on. These are the fault-lines exhibited in the world economy in 2022. What is to be done about it? It is revealing (...)