Political Economy

Political Economy

Who said that?

“We will coup whoever we want! Deal with it.”—Elon Musk, CEO of Tesla and SpaceX, responding to a critic who pointed out (correctly) that the US regime organised a coup in Bolivia to secure lithium for the Musks of this world. “The US military has its knee on the throat […]

Political Economy

Economic update: July

We are in the first moments of an economic crisis more serious than anything experienced in living memory. The World Bank’s “baseline forecast” envisages a “5.2 percent contraction in global GDP in 2020—the deepest global recession in eight decades.”[1] Even that assumes we are living through the most optimistic scenario. […]

Political Economy

Who said this?

“By sowing chaos [abroad], they’ve got chaos at home. Everything they’ve been embedding into the world’s consciousness—they’re reaping it now.”—Maria Zakharova, Russian Foreign Ministry spokesperson, on current events in the United States. “The child who is not embraced by the village will burn it down to feel its warmth.”—African proverb […]

Political Economy

On supernovas and milkshakes

The economist John Smith of the University of Sheffield caused a lot of debate with his recent article “Why coronavirus could spark a capitalist supernova,” in which he offered a powerful rejection of mainstream and Keynesian analysis of the bond market. For years now, “core” capitalist economies have been suffering […]

Political Economy

Who said that?

“Bourgeois ideology is far older in origin than socialist ideology, it is more fully developed, and has at its disposal immeasurably more means of dissemination.”—V. I. Lenin (born 150 years ago), What Is to Be Done? The covid-19 pandemic will result in a “savage recession” around the world “that will […]