Global Capitalism: January 2015 Monthly Update

“The Economics of a New Year”  

Co-sponsored by Democracy at Work, Left Forum, and Judson Memorial Church, these programs begin with 30 minutes of short updates on important economic events of the last month. Then Prof. Wolff analyzes several major economic issues. For this January 14...

 

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This article originally appeared at Truthout.org

Going Beyond Private Versus Public

The new, more Republican Congress may "privatize" the United States Postal Service: dismantle the public enterprise and turn mail services over to private enterprises. Such a privatization would mimic what the US military has done with part of its activities and what many states and cities did with utilities, transport systems and schools...

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This article originally appeared at MRzine.monthlyreview.org

The Political Economy of Austerity Now

Government austerity for the masses (raising taxes and cutting public services) is becoming the issue shaping politics in western Europe, north America, and Japan. In the US, austerity turned millions away from the polls where before they supported an Obama who promised changes from such policies. So Republicans will control Congress and conflicts over austerity will accelerate. In Europe, from Ireland's Sinn Fein to Spain's Podemos to Greece's Syriza, we see challenges to a shaken, wounded political status quo...

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This article originally appeared at Truth-out.org

The Wages of Global Capitalism

Wage growth in the world slowed to an average of 2 percent in 2013. That was less than in 2012 and far less than the pre-crisis rate of 3 percent. Starker still were the differences between wage growth in the "developed world" (chiefly Western Europe, North America and Japan) and wage growth in the major "emerging growth" countries, chiefly China.

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Costs of Global Capitalism

The International Labor Organization (ILO) just released a report on December 5, 2014 (http://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_324645/lang--en/index.htm) sharply exposing what the development of global capitalism means and costs. Here are its key conclusions:

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