Back in January upon coming into office, Syriza probably could not have won a referendum on whether to pay or not to pay. It didn’t have a full parliamentary majority, and had to rely on a nationalist party for Tsipras to become prime minister. (That party balked at cutting back Greek military spending, which was... Read More

A presentation at the Delphi Initiative.

JESSICA DESVARIEUX, PRODUCER, TRNN: Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. So the big question in the world of economics is whether or not the Federal Reserve will raise interest rates and end their bond buying program known as quantitative easing. Chair Janet Yellen will give a quarterly economic and interest... Read More

cross posted from The Nation A video roundtable explains why the IMF, Europe, and Western corporations don’t have the country’s best interests at heart.

Ukraine’s collapse since the February 2014 coup has become an umbrella for grabitization. Collateral damage in this free-for-all has been labor. Many workers are simply not getting paid, and what they actually is being paid is often illegally low. Employers are taking whatever money is in their business accounts and squirreling it away – preferably... Read More

The updated edition of THE BUBBLE AND BEYOND, a chronicle of the on-going post-2008 financial collapse, is now available. It makes plain where money goes versus where it might go – and ought to go. Included: A NEW INDEX, a LIST OF 47 EXHIBITS (illustrations, charts, graphs and models), a BONUS CHAPTER and a BONUS... Read More

Parts W – Z in the Insider’s Economic Dictionary War: Economically, the major cause of national debt and inflation, and often of postwar deflations. Politically, war serves as an excuse to centralize control of government in the hands of the few, and in the Executive Branch of government. Washington Consensus: The neoliberal “conditionalities” imposed on... Read More

“Quantitative Easing for Whom? TRNN, March 11, 2015. The European Central Bank’s trillion euro plan will only help keep the banks afloat. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. In an effort to relieve some pressure on the struggling European economies, Mario Draghi,... Read More

Parts U-V in the Insider’s Economic Dictionary Underdevelopment: The term coined by Andre Gunder Frank to describe the policies which former European colonies and more contemporary third-world countries have been turned into indebted raw-materials exporters rather than balanced economies capable of feeding themselves. (See World System.) Unearned income: See Free Lunch. Unexpected. Whenever bad economic... Read More

Part T in the Insider’s Economic Dictionary Tableau Économique: The first formal national-income account, developed by the Physiocrat Francois Quesnay on the analogy of the circulation of blood within the human body. (See Economist, Say’s Law.) Taxation: The way in which a government gives value to money by accepting it in payment of taxes or... Read More

Truthdig summarises the interview as: Oxfam reports that just 80 people possess the same quantity of wealth as 3.5 billion others. On RT’s Crosstalk, economist Michael Hudson discusses how this happened with Oxfam official Max Lawson and Richard Wellings at London’s Institute for Economic Affairs. Hudson begins, “According to every economics textbook and all the... Read More