The South African Civil Society Information Service
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
A nonprofit news agency promoting social justice. Seeking answers to the question:
How do we make democracy work for the poor?
In the second episode of Al Jazeera’s must see documentary, Meltdown, we look at how the financial tsunami swept the world. We hear about a renegade executive who nearly destroyed the global financial system and the US treasury secretary who bailed out his friends.
Henry 'Hank' Paulson, the former CEO of Goldman Sachs and later an economic advisor to the US government; refused to bail out global financial services firm - the Lehman Brothers. Paulson said it was not the role of...
Labour unions and students joined the growing Occupy Wall Street movement in New York City on Wednesday in the largest march since the protest began 20 days ago. Tens of thousands marched from Foley Square to Zuccotti Park, renamed “Liberty Plaza,” the site of the protest encampment where hundreds have been sleeping since Sept. 17.
People of all ages and backgrounds were on hand for the march that drew tens of thousands into the streets in downtown New York City. Democracy...
Leonard Gentle -
The world is tipping over into unknown territory. All the pundits are now starting to agree with US economist, Nouriel Roubini, famous for his prediction of the 2008 financial crash, that a second recession is inevitable. South Africa’s Reserve Bank governor Gill Marcus has also added her voice to the chorus warning of another “Lehman type event.”
Since the last recession, the major governments have spent in excess of $24trillion bailing out the banks, dwarfing the money...
Michael Greenberger, Professor at University of Maryland, School of Law, contends that the world is in a dangerous moment. Greenberger talks about the risk of a global recession, arguing that we are in a 50/50 proposition of whether we are going to go into a second steep recession or worse.
Greenberger provides a fascinating account of the root causes of the current crisis, talks about where we are in the current moment and what the best remedy would be to overcome the full blown crisis of...
Part One
The clip above is part one of a multi-part interview by Paul Jay of The Real News Network with Ha-Joon Chang, Cambridge economist and author of the book, "23 Things They Don't Tell You About Capitalism."
The debate about "capitalism" being at the core of the economic meltdown seems to have died down. But what about the future of the capitalist system? Is the world facing another meltdown? And, is there a more rational way to have a capitalist system?...
Glenn Ashton -
Our economic system is premised on the notion of endless growth. Its unintentional manifestations include global warming, dwindling resources, proliferating pollution, the accelerating extinction of species, water and food shortages, all set against the backdrop of a burgeoning global population.
We live in an era that has generated more wealth than any previous known civilisation, yet remain surrounded by inequality. The market has failed to deliver on the promises of its supporters....
