Poverty amidst plenty: inequality, imbalances, and the worldwide crisis of capitalism The global economy is now in its fifth year of crisis. Living standards for the vast majority have been steadily getting worse, with falling real wages and a complete dearth of jobs. Despite this, profits for the biggest companies continue to rise.
The myth of decoupling: emerging economies hit a wall When the current crisis began, there were some who painted it as simply a Western crisis; a crisis that was unique to Europe – due to problems caused by its common currency – and America – due to its sub-prime mortgage scandal and ensuing credit crunch.
The hopeless position of the world economy In the past week, the mood of the global financial markets has once again turned sour. The disastrous position in the Eurozone, coupled with a slow-down in China and poor figures from the United States has led to a new sell-off. All the indicators are now pointing at that we are entering into a new down-turn.
