Posts tagged Political Economy

Identifying MacroStructual Trends in Asian Economies

This post recognizes the error in assuming that all Asian countries are undergoing similar socio-cultural-economic processes and placing diverse Asian countries on the same trajectory of development. That said, when identifying and ranking important macro-structural trends in Asia, one must keep in mind the larger context... [+]

Immanuel Wallerstein – The Worst is Yet to Come

To quote him, ‘the worst is yet to come.’ I am not a doomsayer but Immanuel Wallerstein is a much respected economist, credited for World Systems Theory. I would usually stray away from predictions about economic matters but Wallerstein is absolutely correct that the crisis... [+]

Mixing Marxist Economics with Creation Theory

So I was looking for economics papers I had written during college and just found this piece in an email to a professor. Adam and Eve used to live happily in the Garden of Eden, with all resources in pristine and abundant condition. However, one day,... [+]

What the World Economic Crisis Teaches Us About Capitalism

This is a must-read piece from an editor of GegenStandpunkt in Germany, now translated into English. Everyone knows that this is dangerous for money. The newspapers write that inflation is imminent, even a currency reform – where money is deleted after all. For rescuing the banks,... [+]

The World Economic Forum – The Crisis

The ‘leaders’ of the world gathered at the World Economic Forum (WEF) this past weekend to advance the failed and flawed concept of ‘free trade’ to generate economic growth for their respective nations. The forum ended in “we don’t know what to do but we... [+]

Marx Gets A Manga Makeover and More

While George Bush preached ‘market fundamentalism’ yet again at weekend the photo-op named the G-20 summit, the ‘leaders’ agreed upon further stimulatory spending to stabilize the financial system, and to ‘reform’ the IMF and World Bank as global financial instruments. In the midst of this world... [+]

Cricket – Sachin Tendulkar and the Subaltern

I love the contradiction and irony of this. Source: Times of India We have the greatest batsman in the history of cricket on the one hand, making history yet again by becoming the highest run-getter in Test Cricket. Juxtaposing that individual brilliance is the Sensex (Indian Stock Market)... [+]

What is meant by a Credit Crunch?

Confused by all the talks on sub-prime mortgage lending, credit crunches and the other financial lexicon flying about during the bailout? This illustration is a start: