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- Burdened with Debt Reloaded: The Politics ofr Devaluation
Resource Type: Article
Published: 2012
A series of defensive and sectional struggles at workplaces in the private sector reveal that the Greek industrial capital has already taken advantage of the new institutional framework of the “state of emergency” now ruling in Greece to prop up its profitability or just transfer its own debts and losses onto the workers.
- The History of Democracy
A Marxist Interpretation
Resource Type: Book
Published: 2013
Roper traces the history of democracy from ancient Athens to the emergence of liberal representative and socialist participatory democracy. He argues that democracy cannot be understood separately from the social and economic contexts in which democratic states operate.
- The new colonialism: Greece and Ukraine
Resource Type: Article
Published: 2015
According to Jack Rasmus, aA new form of colonialism is emerging in Europe. Not colonialism imposed by military conquest and occupation, as in the 19th century. Not even the more efficient form of economic colonialism pioneered by the U.S. in the post-1945 period, where the costs of direct administration and military occupation were replaced with compliant local elites allowed to share in the wealth extracted in exchange for being allowed to rule on behalf of the colonizers. In the 21st century, it is 'colonialism by means of financial asset transfer.' It is colony wealth extraction by colonizing country managers, assigned to directly administer the processes in the colony by which financial assets are to be transferred. This new form of colonialism by direct management plus financial wealth transfer is now emerging in Greece and Ukraine.
- Parasites in the Body Economic: the Disasters of Neoliberalism
Resource Type: Article
Published: 2015
Michael Hudson discusses his new book, "Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy."
- Puerto Rico's default is fine, as long as Wall Street is repaid
Resource Type: Article
Published: 2015
On August 1, 2015, Puerto Rico defaulted on part of its enormous $72 billion debt, paying back only $628,000 on a relatively small $58 million loan that was due at the start of the month. The default, which marks the most serious credit event in US public bond markets since the city of Detroit filed for bankruptcy in 2013, has led many to draw obvious comparisons to Greece – and understandably so.
- 21 States Will Take Away Your Driver's License If You Can't Pay Your College Loans, But Activists Are Fighting Back
A grassroots project in Montana is a blueprint for activism across the country
Resource Type: Article
Published: 2015
Thanks to the work of local organizers pressuring lawmakers, Montana residents will no longer have their drivers licenses suspended if they fall behind on their student loan payments. This April, a Montana law that allowed the state to revoke licenses for that infraction was scrapped. However, in at least 21 states, similar laws remain on the books.
- UK urged to prevent vulture funds preying on world's poorest countries
Campaigners demand Jersey legal loophole be closed as financiers seek $100m from the DRC
Resource Type: Article
Published: 2011
Britain is being urged to help close down a legal loophole that lets financiers known as "vulture funds" use courts in Jersey to claim hundreds of millions of pounds from the world's poorest countries.
- Vulture funds await Jersey decision on poor countries' debts
26 companies hope to double $1bn haul
Resource Type: Article
Published: 2011
Pressure grows to end trade that has made $1bn for speculators but has been blamed for delaying recovery of war-torn countries.
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