This is the third and final post in what has become a three-part series on the puzzle of high profitability and low investment in the Canadian economy. In the first part, I looked at some data that shows the existence of the puzzle and explored a few of the factors
Continue readingTag: Crisis
Parchment in the Fire: Austerity and Human Rights
The Council of Europe Commission for Human Rights has published a report documenting the various ways in which austerity is negatively impacting on human rights across Europe. I have copied the summary of the report below: Europeans are living through the deepest economic recession since the Second World War. What
Continue readingParchment in the Fire: People at risk of poverty or social exclusion – Statistics Explained
People at risk of poverty or social exclusion – Statistics Explained. A recent Eurostat report has reported the following, disturbing figure in Europe: In 2012, 124.5 million people, or 24.8 % (Figure 1) of the population, in the EU-28 were at risk of poverty or social exclusion (AROPE), compared with 24.3 %
Continue readingParchment in the Fire: Credibility of the Ruling Elite is Being Shredded – Chris Hedges on Reality Asserts Itself
http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=11012 ‘And what happens in moments of breakdown is that people not only turn against an ineffectual liberal elite that is not able–that in essence–that has presided over political and economic paralysis, or certainly political paralysis, but they also jettison the values that elite purports to defend. And that’s what’s
Continue readingPolitical Eh-conomy: A Canadian housing bubble? Evidence from capital inflows
Warning: A wonky, but thankfully short, post follows. Yesterday, the Naked Capitalism blog reposted some recent research by OECD economist Eduardo Olaberria that looks at the effect of capital inflows on bubbles in assets, particularly housing. With so many other signs of a housing bubble forming in Canada, I decided
Continue readingParchment in the Fire: Crash! A brief history of modern global capitalism – audio slideshow | Comment is free | theguardian.com
Crash! A brief history of modern global capitalism – audio slideshow | Comment is free | theguardian.com. An amazing slideshow of a century of capitalist development and economic crisis narrated by one of my former professors, Leo Panitch, author of The Making of Global Capitalism. Filed under: Capitalism Tagged: Austerity, Capitalism,
Continue readingParchment in the Fire: Debt and Deficit as Shock Therapy » CounterPunch: Tells the Facts, Names the Names
Debt and Deficit as Shock Therapy » CounterPunch: Tells the Facts, Names the Names. When Naomi Klein published her ground-breaking book The Shock Doctrine (2007), which compellingly demonstrated how neoliberal policy makers take advantage of overwhelming crisis times to privatize public property and carry out austerity programs, most economists and media pundits
Continue readingParchment in the Fire: Belgium: Class Trade Unionism Seeks Political Expression | The Bullet No. 893
Belgium: Class Trade Unionism Seeks Political Expression | The Bullet No. 893. In the social and political history of Belgium, May 1, 2012, could mark a milestone. On that day the leaders of the Charleroi regional branch of the socialist trade union General Federation of Belgian Labour (Fédération Générale du
Continue readingParchment in the Fire: Austerity protests draw tens of thousands in Italy, Portugal | News | DW.DE | 19.10.2013
Austerity protests draw tens of thousands in Italy, Portugal | News | DW.DE | 19.10.2013. Police detained several people during the protest in Rome after about 100 people threw rocks, bottles and eggs at officers guarding the finance ministry (pictured). The police then charged and chased the demonstrators into side
Continue readingParchment in the Fire: Preparing for the Perfect Storm: Neoliberal Authoritarianism in an Age of Austerity
Two noteworthy news items for this week: First, the Guardian ran an article last week regarding the soon to be published Social Mobility and Child Poverty report on, well, social moblity and child poverty in the UK. According to the paper, leaked findings of the report indicate a gloomy future
Continue readingParchment in the Fire: Rather than savage cuts, Switzerland considers “Star Trek” economics – Salon.com
Rather than savage cuts, Switzerland considers “Star Trek” economics – Salon.com. By gathering over 100,000 signatures – which they delivered last Friday along with 8 million 5-cent coins representing the country’s population – activists have secured a vote by Switzerland’s parliament on an audacious proposal: providing a basic monthly income
Continue readingParchment in the Fire: Austerity pushing Europe into social and economic decline, says Red Cross | World news | The Guardian
Austerity pushing Europe into social and economic decline, says Red Cross | World news | The Guardian. Europe is sinking into a protracted period of deepening poverty, mass unemployment, social exclusion, greater inequality, and collective despair as a result of austerity policies adopted in response to the debt and currency
Continue readingParchment in the Fire: The left in Greece must rise up against Golden Dawn | Costas Lapavitsas | Comment is free | theguardian.com
The left in Greece must rise up against Golden Dawn | Costas Lapavitsas | Comment is free | theguardian.com. Greece – and the rise of Golden Dawn – is an extreme parable of what has happened to many developed countries since the global crisis broke out in 2007. The policies
Continue readingParchment in the Fire: Greece’s democracy in danger, warns Demos, as Greek reservists call for coup | World news | theguardian.com
Athens riot police fire tear gas at an anti-fascist protest calling for action against the neo-Nazi Golden Dawn party following a rapper’s murder. Photo: Milos Bicanski/Getty No country has displayed more of a “backslide in democracy” than Greece, the British thinktank Demos has said in a study highlighting the crisis-plagued
Continue readingParchment in the Fire: Merkel’s Victory, Everyone’s Loss: The Burden Of German Mercantilism On Europe
Merkel’s Victory, Everyone’s Loss: The Burden Of German Mercantilism On Europe. John Weeks The electoral victory of Angela Merkel brings bad news to the rest of Europe. Without doubt it means the continuation of the national economic policies that have all the other euro zone countries suffering from recession. While
Continue readingParchment in the Fire: Why have the Irish not revolted?
Reblogged from Sráid Marx: The defeat of the opposition to the property tax and the ability of the Government to impose a second Croke Park austerity deal might lead many to conclude that resistance to austerity has been defeated. Even before this many have commented that while Greece has witnessed
Continue readingThe Canadian Progressive: A Defining Moment for the Conservative Government? [VIDEO]
The CBC’s At Issue panel discusses Brent Rathgeber’s decision to quit the Conservative caucus and what it means to a Harper Government besieged by multiple crises. We recommend: Another blow for Harper as Conservative MP quits caucus Conservative MP’s Bill C-461 threatens CBC journalistic integrity, protection of sources SHAME: Harper
Continue readingThe Scott Ross: Trudeau, Soldiers With Guns, and Ironic Pride
In 2006 the Liberal Party was ashamed for accusing Stephen Harper of wanting to put armed soldiers on every street; yet somehow in 2013 Liberals are proud that their next Leader fondly recalls how his father actually did put armed soldiers on every street. Two weeks ago Justin Trudeau was
Continue readingThe Canadian Progressive | News & Analysis: Occupy Love (2013): Official Trailer (Video)
We recommend:Occupy Wall Street 1 Year Later: A Roundtable DiscussionOccupied Ottawa to celebrate one year anniversaryOn Wednesday in Ottawa, Occupy This!Liberal leadership race: Garneau calls on Trudeau to take a stand FBI knew of plot to kill OWS activists, remained silent The post Occupy Love (2013): Official Trailer (Video) appeared
Continue readingRedBedHead: Is The SWP A Dead Duck: Part 1
I’ve come across more than a few obituaries for the SWP in the last week or so, particularly since a number of people split from the party and are now forming the IS Network. This article on the Left Unity website, for instance, starts with the following statement:
“The SWP – one of the most successful organising forces on the British left over the last few decades – is close to death…”
But
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