"The credit system appears as the main lever of overproduction and over
speculation in commerce solely because the process of reproduction,
which is elastic in its nature, is here forced to its extreme limits.
Summer is usually a period when "not much happens", at least in Europe.
But this Summer is like the calm before the storm. The mass
demonstration in Genoa and the last general strike in Argentina are
indications of the tumultuous years ahead.
The world economy is on the edge of a prolonged period of stagnation.
Before the war on Iraq began, its approach had already made a negative
impact. A United Nations statement in January this year forecast: "An
escalation into military action would have even more profound negative
economic consequences". The...
DUBLIN HAS the odious task of hosting the World Economic Forum (WEF)
from 19 - 20 October. The WEF, which is a representative "think tank"
for the top thousand multinational corporations in the world, plans to
hold a summit on "European Competitiveness".
The latest rich list produced by the Forbes magazine shows that the
collective wealth of the world’s 1,210 billionaires has reached a new
record high of $4.5 trillion - up nearly $1 trillion on last year’s
total.
THE FINANCIAL speculators and hedge funds that so spectacularly
contributed to the financial crisis resulting in the ’Great Recession’
have now turned their attention to the international food market with
devastating consequences.
In about three weeks, a Plenary Meeting of the General Assembly of the
United Nations will be held in New York to review progress in reaching
the Milennium Development Goals (MDGs).
In the past few weeks there’s been a noticeable shift in tone in the
business pages and journals. Their confidence in the so-called
“recovery” has faded, and has been replaced by anxiety.
