In this episode of Geopolitical Economy Hour, economists Radhika Desai and Michael Hudson discuss inflation: what it is, what causes it, and what are the problems in how the Federal Reserve and other central banks respond to it.
Ralph welcomes professor Karen Levy, who talks to us about how regulations aimed at making trucking safer have been turned into a tool of corporate surveillance as chronicled in her book Data Driven: Truckers, Technology, and the New Workplace Surveillance.
Every so often, the World Bank puts out a paper that calls for better social protection or at least a somewhat better deal for working people. The public relations people there evidently believe we have very short memories.
You’ve probably heard a lot of talk about socialism becoming more popular over the past few years. There’s a reason for that! The capitalist system has shown itself to be incapable of solving the problems it creates, and more and more people are living a worse life than their parents or grandparents. What’s going on here, and is socialism the way forward?
Introducing Geopolitical Economy Hour: This is the first episode of a show being hosted every two weeks by economists Radhika Desai and Michael Hudson. They present the program and discuss the rise of the multipolar world and decline of US hegemony.
Wishing for central banks to act in the interest of working people rather than the financial industry is about as fruitful as hoping a starving wolf won’t eat the chicken that was just placed next to it. Pigs will fly, the Amazon will freeze over and Wall Street will give all its money away before a central bank in the capitalist core goes against its raison d’être.
Questions from Almayadeen TV, Lebanon by Mohammad Itmaizeh
1: In light of the conditions that Europe is experiencing, in terms of high energy prices and the repercussions on the industrial sector, like the closure of factories and the high cost of production. In your opinion do European countries have the capacity and resources to prevent industrial investments from “escaping”? Especially since the US plans in general to restore industry to its lands, thus, it may represent an opportunity to lure European industries to move to there and take advantage of cheap energy prices. This shift will have wide repercussions on Europe’s productive capacities and competitiveness, as well as on its trade balance. So, what happens to the position of Europe in the global economic system? Will it remain part of the capitalist center or deviate from it?
Joe Biden has shown his true colors: he stands with corporate bosses over union workers. In a statement released last night, Biden stabbed rail workers in the back by calling on Congress to pass legislation imposing the terms of a tentative deal that was rejected by the members of key unions in the industry. Top Congressional leaders immediately announced their intention to do just that.
“Your prayers and hymns, your sermons and thanksgivings… are… a thin veil to cover up crimes which would disgrace a nation of savages. There is not a nation on the earth guilty of practices more shocking and bloody than are the people of these United States, at this very hour.” – Frederick Douglass, July 4th, 1852