Capitalism

• The International Situation and CADTM action between 2009 and 2013

  
  by Éric Toussaint

  9 May 2013

  In the preamble to the CADTM International Political Charter adopted in Belém (Brazil) in January 2009, we state: In 1989, the Bastille Appeal was launched in Paris. It invited popular movements throughout the world to unite in demanding the immediate and unconditional cancellation of the debt of the so-called developing countries. This crushing debt, along with the neo-liberal macro-economic reforms imposed on the South since the debt crisis of 1982, had led to the explosion of (...)

• Series: Banks versus the People: The Underside of a Rigged Game! (Part 4)

  A journey into the vice-ridden world of banking

  
  by Éric Toussaint

  2 February 2013

  “As the Economist put it at year-end 2006, ‘having grown at an annual rate of 3.2% per head since 2000, the world economy is over halfway towards notching up its best decade ever. If it keeps going at this clip, it will beat both the supposedly idyllic 1950s and the 1960s. Market capitalism, the engine that runs most of the world economy, seems to be doing its job well.’” |1| Alan Greenspan The primary objective of the world’s leaders is to avoid another banking and financial crash that (...)

• Richest 100 ’could end poverty now’

  by Rory MacKinnon

  22 January 2013

  Oxfam said today that the world’s 100 richest people could easily afford to end the hunger, thirst and basic illness of every person of Earth. The charity demanded an end to "extreme wealth" as David Cameron prepared for next week’s annual billionaire bash at the Davos World Economic Forum. The event, held at a Swiss ski resort, attracted 70 billionaires last year to hobnob with world leaders and mere millionaires who were "committed to improving the world." The guests’ total wealth was (...)

• Banks versus the People: The Underside of a Rigged Game!

  
  by Éric Toussaint

  12 January 2013

  The first three parts of the series ’Banks versus the People: the Underside of a Rigged Game!’ published in 2012, have been collected together in this one document. This series is to be continued during January 2013. Part 1 : 2007-2012: Six years that shook the banking world Since 2007-2008, the major central banks (the ECB, Bank of England, the “Fed” in the USA, and the Swiss National Bank) have been making it their absolute priority to attempt to avoid a collapse of the private banking (...)

• Series: Banks versus the People: the Underside of a Rigged Game! (Part 3)

  The greatest offensive against European social rights since the Second World War

  
  by Éric Toussaint

  12 January 2013

  Part One of this series “” was published on 2 December, 2012.. See 2007-2012: Six years that shook the banking world Part 2 "The ECB and the Fed at the service of the major private banks" was published on 10 December 2012. We should not underestimate the capacity of the elites to make the most of a crisis situation The mainstream media regularly deal with the questions of a possible breakup of the eurozone, the failure of austerity policies to revive economies, discord between Paris and (...)

• Series: Banks versus the People: The Underside of a Rigged Game! (Part 2)

  The ECB and the Fed at the service of the major private banks

  
  by Éric Toussaint

  10 December 2012

  Part One of this series “2007-2012: Six years that shook the banking world” was published on 2nd December, 2012. The actions of the European Central Bank and the “Fed” Beginning in June 2011, the European banks entered a highly critical phase. Their situation was almost as serious as on 15 September, 2008, after the failure of Lehmann Brothers. Many of them were threatened with asphyxia because their massive needs for short-term financing (a few hundred billion dollars) were no longer being (...)

• Banks versus the People: The Underside of a Rigged Game! (Part 1)

  2007-2012: Six years that shook the banking world

  
  by Éric Toussaint

  2 December 2012

  Since 2007-2008, the major central banks (the ECB, Bank of England, the “Fed” in the USA, and the Swiss National Bank) have been making it their absolute priority to attempt to avoid a collapse of the private banking system. Contrary to what has been said more or less everywhere, the principal risk threatening the banks is not that a government will suspend payment of sovereign debt. None of the bank failures since 2007 have been caused by that kind of payment default. None of the bank (...)

• Éric Toussaint: The capitalist system needs patriarchal domination

  
  by Éric Toussaint, Martin Beroš

  29 November 2012

  Interviewed during the 5th Subversive forum 13.-19. May 2012. in Zagreb, Croatia Eric Toussaint answers four questions : Can you talk about political and economic relations between Center and Periphery countries in Europe today ? Flexibilisation and precarisation of labor reduce workers’ options for short-term and long-term planning - employees are increasingly expected to make themselves available for working on short notice, and are rarely confident about certainty of their current (...)

• Capital flight and tax havens

  by Sally Burch

  6 November 2012

  A study on the offshore economy published in recent weeks by the Tax Justice Network — TJN — reveals the seriousness of capital flight and tax evasion, which reaches much greater dimensions than had previously been estimated. The data confirm, in addition, that this phenomenon constitutes one of the most serious economic problems faced by developing countries, and consequently results in increased poverty levels in these countries. The study estimates — an estimate that the authors consider (...)

• Anti-capitalism and environmentalism as a political alternative

  by Esther Vivas

  24 September 2011

  We cannot analyse the global ecological crisis separately from the crisis in which we are immersed or the critique of the economic model that has led us into it. The starting point for today’s debate is to note that humanity is in a global ecological crisis that is an intrinsic part of the systemic crisis of capitalism. And one of the differences from past economic crises, from that of the 1970s or the crash of 1929, is precisely its ecological aspect. Indeed, we cannot analyse the global (...)

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