RICHARD D. WOLFF – The last 40 to 50 years of the economic history of the G7 witnessed extreme redistributions of wealth and income upward. Those redistributions functioned as both causes and effects of neoliberal globalization. However, domestic reactions (economic and social divisions increasingly hostile and volatile) and foreign reactions (emergence of today’s China and BRICS) are undermining neoliberal globalization and beginning to challenge its accompanying inequalities. U.S. capitalism and its empire cannot yet face its decline amid a changing world. Delusions about retaining or regaining power at the top of society proliferate alongside delusional conspiracy theories and political scapegoating (immigrants, China, Russia) below.
Tag: G7
The West’s Dangerously Simple-Minded Narrative About Russia and China
JEFFREY D. SACHS – The overwrought fear of China and Russia is sold to a Western public through manipulation of the facts.
How Will the Energy Game in Europe Work Out?
MEL GURTOV – It won’t be long before winter descends on Europe. Before it does, most European countries must address the question of how long and how well they will be able to handle decoupling from Russian energy.
Massive Insurance Giants Call For End To Fossil Fuel Subsidies
KARL MATHIESEN – Climate change is the “mother of all risks†says Aviva CEO, and hundreds of billions in annual government assistance to oil, gas and coal is “simply unsustainable.†Three of the world’s biggest insurers called on G20 leaders to implement a timeframe for the end of fossil fuel subsidies when they met in China last week.