The Political Economy of Austerity Now

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This article originally appeared at MRzine.monthlyreview.org

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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This article originally appeared at Truth-out.org

System Change, or There and Back Again: Capitalism, Socialism, Fascism

Societies today where capitalist economic systems prevail confront government gridlock. Facing serious and deepening economic problems, even when their leaders can...

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The Fall of the Berlin Wall and the Failures of Actually Existing Economic Systems

Hype went wild coming into last week's 25th anniversary of the fall of the Berlin Wall. "Freedom" had been achieved. The German Democratic Republic (GDR)...

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