The Federal Reserve has been subsidizing the megabanks, but what’s needed is an institution that provides the backstop, the loan guarantees, the subsidies, the lines of credit, et cetera, to support the development of a whole variety of public financial institutions. Gerald Epstein on theanalysis.news podcast with Paul Jay.
For African countries, the potential effects of an economic crisis unfolding from the Covid-19 pandemic would be even more disastrous under the Pan-African project of a monetary union. For background on why, we feature a talk by Riaz K. Tayob
The speech from the throne is only weeks away. Moments like these — pandemics, depressions, wars — are historical turning points, often marking a time period when fundamental change toward social and economic equality become possible. By Bruce Campbell.
The governments of India and South-Africa backed by about 100 countries and counting are calling for a waiver on patents over COVID-19 related medicines and equipment. Headquarter countries of Big Pharma are opposing it. The debate is going on at the WTO and will be decided soon.
Jan Kregel explains the fundamental problem with the economic system is its focus on providing finance to investors. Hyman Minsky, who understood that financial instability is inherent to capitalism, proposed changing the economy’s objective to employment.