ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles By Farshad Araghi

The End of 'Cheap Ecology' and the Crisis of 'Long Keynesianism'

It is the crisis of negative Keynesianism that is at the heart of the current critical point, and which is leaving its global institutions - the World Trade Organisation, the International Monetary Fund and the World Bank - with no solution other than transferring the costs to the South (and to the South within the North). By adopting this logic, the United Nations climate summit in Copenhagen followed exactly in the footsteps of these institutions. The failure of the Copenhagen climate talks is indicative of the depth of the crisis of "long Keynesianism" that has exhausted its positive and negative ways of dealing with the "unsustainability" of global capitalism.

Political Economy of the Financial Crisis: A World-Historical Perspective

The Great Depression crisis was resolved by labour shifting the burden onto capital. This time the likely shifting of the burden of the financial crisis from capital to labour and the middle classes will only deepen it. The two medium-term possibilities are corporate fascism and global Keynesianism. Will the United States President-elect Barack Obama be the representative of the latter? This, unfortunately, is not likely going by the president-elect's position on the crisis and a possible solution.