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Michael Roberts Blog | Mainstream economics cannot deliver even on its own terms because it makes two basic assumptions that are not based on reality; one in so-called ‘microeconomics’ and one in so-called ‘macroeconomics’. As a result, mainstream falls down as a scientific analysis of modern (capitalist) economies.
The U.S. economy and society at the start of 2021 is more polarized than it has been at any point since the Civil War. The wealthy are awash in a flood of riches, marked by a booming stock market, while the underlying population exists in a state of relative, and in some cases even absolute, misery and decline. The result is two national economies as perceived, respectively, by the top and the bottom of society: one of prosperity, the other of precariousness. ... Comprehending the basic parameters of today’s financialized capitalist system is the key to understanding the contemporary contagion of capital, a corrupting and corrosive cash nexus that is spreading to all corners of the U.S. economy, the globe, and every aspect of human existence.
Utsa Patnaik | The farmers’ movement for the repeal of the three farm laws which affect them closely but have been rammed through without consulting them, has now entered its second month. It is of historic significance. It is not just about minimum support prices but also about the survival of the entire system of public procurement and distribution of foodgrains. Without ensuring the economic viability of foodgrains production in North India — the grain basket of the country — no continuity can be ensured for the public procurement and distribution system, which, despite its drawbacks, continues to provide a modicum of food security to vast numbers of our population.
Canada at a Glance presents current statistics on Canadian demography, education, health and aging, justice, housing, income, labour market, household, economy, travel, finance, agriculture, international trade and environment. Updated yearly, this booklet is a very useful reference for those who want quick access to current Canadian statistics and important international comparisons.
The U.S. unemployment rate is likely to hit 16% or higher in April, and "really big thoughtful policies" will be needed to rebuild confidence, a White House adviser said on Sunday.