debt

MMT: A Bankrupt Theory for a Bankrupt Capitalism

Submitted by Internationalis... on Nov 13 2020 01:42

Review: The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy by Stephanie Kelton (published by John Murray, 2020).

To Pay is to Die: The Threat of Student Debt and Homelessness

Submitted by Bandilang Itim on Apr 22 2020 03:25

A statement from the Bandilang Itim Collective on the continuation of school semesters and rent and debt obligations under the current state of pandemic.

Today is Grey but the Future Looks Black

Submitted by Internationalis... on Jan 19 2020 15:56

New year, old music, from a well-known score sheet played out by... the Left. A "Left" that’s not ashamed to dress itself up in populist clothes, worn in the service of state capital on the understanding that this is the way to open up markets as a "progressive realisation of the patriotic ideal and the concept of nationhood". In the name, of course, of the people and the "concept of community" as understood by those who are ready to recite the hidden virtues of a renewed "capital-socialism".

The Shadow of September 2008 Continues to Lengthen

Submitted by Internationalis... on Nov 13 2019 12:55

It is now 11 years since the bankruptcy of Lehman Brothers. The crisis in the real economy, instead of fading from memory, has become a fixture.

The Commoner #7: The "governance" of Imposed Scarcity

Issue 7 of The Commoner magazine

The illusion of the precapitalist gift - humanaesfera

What was the precapitalist gift? In what concrete material circumstances did it make sense? Here, we briefly want to show that the precapitalist conditions which made the gift to make sense are not only without return, but are also absolutely undesirable today. In communist society the enjoyment of the productive forces can neither be a gift nor an exchange of commodities.

Capitalism’s Crisis of Stagnation and Austerity

Submitted by Internationalis... on Jan 30 2018 16:11

As 2018 opens economic optimism is breaking out amongst the capitalist class. Leaving aside the vainglorious boasts of the current President of the United States that unemployment in the US has reached lows only last seen in the post-war boom, or that the New York stock market is now at all time record highs, more serious economic commentators are arguing that after a decade of misery (at least for 99% of the planet) the signs of recovery from the 2007-8 banking collapse are now behind us. If this sounds familiar it is because we have heard the same tale so many times.