by Prof. James Petras
Global Research, May 22, 2010
Latin America’s current relations with the US as well as its present political and economic configuration can best be understood in the context of large scale changes over the past twenty years and the relative stability of the past five years.
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by Prof. Michael Hudson
Global Research, May 23, 2010
The Friedman Institute Upgrades Theology to Condone Neoliberal Greed. What would Jesus Say?
Many academics recently received a petition signed by 111 University of Chicago faculty members, explaining that “without any announcement to its own community, [the University] has commissioned Ann Beha Architects, a Boston firm, to remake the Chicago Theological Seminary building into a home for the Milton Friedman Institute for Research in Economics (MFIRE) and has renewed aggressive fund-raising activity for the controversial Institute.”
It would be hard to find a more fitting metaphor than what the press release characterizes as “conversion of the Seminary building into a temple of neoliberal economics.” Even the acronym MFIRE seems symbolically appropriate. The M might well stand for Money in Prof. Friedman’s MV = PT (Money x Velocity = Price x Transactions). And the FIRE sector comprises finance, insurance and real estate – the “free lunch” sector whose wealth the Chicago monetarists celebrate.
May 23, 2010 — Palestinians day to day life in occupied territories.
by Joel S. Hirschhorn
May 23, 2010
Thirty days into the BP oil spill one mile down into the Gulf of Mexico it should be clear to every objective person that President Obama has failed miserably. This oil spill is more than a disaster or crisis; it is a catastrophe of unprecedented proportions. This environmental catastrophe will quickly morph into a national economic catastrophe as economic doomsday facing the fishing and tourism industries generates countless negative economic ripples throughout the US economy. Unemployment and economic growth will suffer.