Tag Archives: power

The Burden of Nations: Debt and Compound Interest

The disappointing outcome of the G8 Okinawa summit regarding the initiative for debt relief for impoverished and indebted countries of the Global South, led President of Nigeria Olusegun Obasanjo to proclaim in August 2000: “All that we had borrowed up to 1985 or … Continue reading

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Global Political Economy and Its Discontents: Power, Politics and Investment Treaties in Developing Countries

There is a widely accepted opinion among a general public, policy makers and economists that investment treaties between the West and developing countries greatly benefit the latter. But is this view correct? Well, for sure the story is far more complex than it seems. An interesting … Continue reading

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The European corporate elite on trial: the foundation of the Eurozone and the navigation of its crisis

“Europe’s industrial bosses oscillate between fear, anger and disbelief…. Company bosses long to yell “You’re fired!” at any number of European politicians… But a majority of Europe’s businesspeople definitely wants politicians to do more to hold the euro zone together.” (The … Continue reading

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Capital as power and class struggle explained by… Adam Smith?!

In any given society, there is no freedom of contract between capitalist and worker, whose interests are essentially opposite. The power of a landlord, a manufacturer, a merchant resides in his wealth, explaining the inherent subjection of laborers, which lack almost any … Continue reading

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Herbert Marcuse: Power of Repressive Tolerance

Herbert Marcuse‘s resonant and insightful words: “In the contemporary period, the democratic argument for abstract tolerance tends to be invalidated by the invalidation of the democratic process itself. The liberating force of democracy was the chance it gave to effective dissent, … Continue reading

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Credit makes you free! Neoliberalism, politics of debt and the subjugation of the working poor

Under the rubric of ‘financial inclusion’, lending to the poor – in both the global North and global South – has become a highly lucrative and rapidly expanding industry since the 1990s. A key inquiry of Susanne Soederberg’s penetrating and … Continue reading

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“… Until Debt Tear us Apart”: Debt is a Product of Power Relations

Debt is a product of power relations which inherently exhibits capturing and dominating mechanisms of subordination, appropriation and exploitation in various societal, political and economic fields. Debt is degrading institutional tool which not merely controls and masters labor in advance, it also self- and socially … Continue reading

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Racism is about more than individual prejudice. It’s about power, capitalism and class struggle

Racism is about more than individual prejudice. It relies on the interests of those who hold the real power in society and the economy, and use every possible means to hold onto it. It’s about capitalism and class struggle. This … Continue reading

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Why the Federal Reserve Failed to See the Financial Crisis of 2008: The Role of “Macroeconomics” as a Sensemaking and Cultural Frame

In this very interesting and enlightening paper by Neil Fligstein, Jonah Stuart Brundage & Michael Schultz (University of California, Berkeley), they tackle one of the puzzles about the crisis of 2008: why the regulators were so slow to recognize the … Continue reading

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“The Supranational Corporation: Beyond the Multinationals” shows how corporations flaunt laws and act as controlling powers beyond the legal national constraints

This book by Laura Westra  lays bare corporate actions both domestic and international, under the guise of legal “personhood” that has granted corporations increasing power. As a result, corporate decisions undermine and even nullify legal decisions made by governments designed … Continue reading

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