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Tim Di Muzio The Capitalization of Money Creation: The Greatest Sabotage in Human History? Every year in my course on Political Economy in the New Millennium I ask my students to do an exercise. The task is for them to ask three members of their friends or family how money is created. As you can […]

Ilirjan Shehu Speaking to students in Jakarta, Indonesia, US Secretary of State, John Kerry, declared a few days ago that climate change is the world’s “most fearsome” weapon of mass destruction. Likening climate change to terrorism, Kerry stated that “It doesn’t keep us safe if the United States secures its nuclear arsenal while other countries […]

James McMahon Over at Heterodox Microeconomics Research Network they have a thorough list of academic publications that are relevant to heterodox theories of capitalism. The list covers the following subjects: History and Methodology of Heterodox Microeconomics Critiques of Mainstream Microeconomics Principles of Heterodox Microeconomic Theory Theory of the Business Enterprise Structure of Production and Costs […]

Eric George Since 2012, the U.S Department of Justice has launched a series of private negotiations with Wall Street banks relating to their involvement in the 2008 financial crisis. The DoJ made headlines this November when it struck a record $13b settlement with JP Morgan for allegations of fraud in the sale of mortgage-backed securities. […]

Sandy Hager In an interesting piece for the Financial Times, Christopher Caldwell assesses Obama’s declaration to ‘go it alone’ in light of the ‘obstructionist Republican agenda’ in the US Congress. In a recent State of the Union address, Obama pledged a year of action, one that would see the president push for major policy reforms […]

Tim Di Muzio The Constitution of the United States of America It is by now fairly clear that the Congress of the United States is a ‘do-nothing’ Congress populated by 268 millionaires (out of 534 lawmakers). The job approval rating, depending on which poll we consider, hovers around 9-14%. This is perhaps hardly surprising given […]

DT Cochrane Toronto’s Pearson Airport was recently thrown into chaos when bad weather forced it to suspend ground operations. For eight hours, hundreds of flights scheduled to land and take-off were unable to do so. Condemnation of the airport authority was swift and harsh. The event revealed two facts about the airport as a productive […]

DT Cochrane The title of this piece might make readers think of capitalist power over the masses. However, in this case, I’m thinking of how capital serves to discipline the decision-makers of capitalism. A recent Globe & Mail article discussed the desire of Canadian banks to keep the corporate bond market going. The banks serve […]

Ilirjan Shehu Brussels Business is a documentary about the important role dominant capital has played in the shaping of the European Union from its early days. It explores the secretive activity of big business and lobbying organizations and the role they play in the origination and circulation of ideas and plans for the advancement of […]

DT Cochrane The EU has fined a selection of European and U.S. American banks €1.7 billion for rigging major interest-rate benchmarks. The article notes that the benchmarks – Libor, and the Tokyo and euro area interbank – are used in the pricing of hundreds of trillions of assets. The problem, according to the prosecutors, is […]