A “New Deal” Model for the Obama Cabinet

As appointments and stories of appointments to President-elect Obama’s cabinet fill mass media, the interest in Doris Kearns Godwin’s fascinating study, Team of Rivals, which deals with Abraham Lincoln’s Civil War cabinet has been mentioned prominently.

Sao Paulo Proclamation – Socialism is the Alternative!

The world is facing a grave economic and financial crisis of large proportions. A capitalist crisis, which cannot be dissociated from its own nature and from its unsolvable contradictions, that is probably the gravest crisis since the Great Depression commenced by the 1929 crash.

Joseph Stiglitz: World Economic Crisis, a Difficult and Long Way Out

Nobel Economy Laureate Josepth Stiglitz said in the Dominican Republic that the way of the current world economic crisis entails a difficult and long process.

A Call for a National Economic Recovery Act

Make no mistake about it, this election was won on bread and butter economic issues. While John McCain and Sarah Palin focused on the rhetoric of patriotism, 'trickle-down' economics, 'staying the course' on Bush's tax cuts and family values; they also embraced the very economic policies that both undermine the middle class and subvert the security of American family life.


The Crash of 2008 and Historical Materialism

Understanding the impact of technological revolutions on major financial booms and busts, including the ongoing crash of 2008, from the standpoint of historical materialism allows us to understand the causes of economic crisis as well as what can be done to change the system we live in and reduce the turmoil.


Reflections on the (Unplanned) Death of an Ideology

The financial meltdown on Wall Street has provoked a severe ideological crisis. Capitalism itself is under scrutiny. In the corporate media, one can now find regular discussions of Marxism, capitalism and socialism – not always positively presented to be sure, but at times the discussion has been thoughtful.


Financial Collapse, Systemic Crisis? Illusory Answers and Necessary Answers

The violent explosion of this crisis did not surprise us; I mentioned it a few months ago while the conventional economists were ignoring its coming development and consequences, especially in Europe.

Obama Calls for Urgent Action on the Economy

In his weekly address posted to, President-elect Barack Obama discussed the economic crisis and the need to invest federal dollars in creating new jobs.

Impact of the Financial Crisis on 3rd World Economies

Emerging nations need their own stabilization funds, independent of the IMF, and its parent – the US Treasury which provides most of its financing. That was the conclusion of two experts at a seminar sponsored by the Service Employees International Union (SEIU) this week in Washington, D.C.

Millions Will Be Devastated Unless Congress Passes Bridge Loan

Testifying before the Senate Banking, Housing and Urban Affairs Committee this afternoon, UAW President Ron Gettelfinger didn’t mince words about the auto industry’s need for Congress to approve a bridge loan.

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