By : Jomo Kwame Sundaram
KUALA LUMPUR, Malaysia, Oct 5 2021 (IPS) - As finance ministers and central bank governors gather next week for the IMF-World Bank annual meetings in the US capital, the first shots of a new putsch against multilateralism have been fired. The target: Kristalina Georgieva, Fund Managing Director (MD) since 2019.
KUALA LUMPUR, Malaysia, Sep 28 2021 (IPS) - US President Biden’s earlier support for a vaccine patent waiver raised hopes for his summit last week. However, it proved disappointing, not only for efforts to end the pandemic, but also for US leadership in these challenging times.
KUALA LUMPUR, Malaysia, Jan 12 2021 (IPS) - The incoming Biden administration is under tremendous pressure to demonstrate better US economic management. Trade negotiations normally take years to conclude, if at all. Unsurprisingly, lobbyists are already urging the next US administration to quickly embrace and deliver a new version of the Trans-Pacific Partnership (TPP).
KUALA LUMPUR, Malaysia, Oct 13 2020 (IPS) - Milton Friedman was arguably the most influential economist of the second half of the 20th century, associated with promoting ‘neo-liberal’, free-market, shareholder capitalism.
Friedman’s monetarist economics is now widely considered irrelevant, if not wrong, especially with the low inflation associated with ‘unconventional’ monetary policies following the 2008-2009 global financial crisis.
KUALA LUMPUR, Malaysia, Sep 8 2020 (IPS) - With many in the world experiencing declining living standards, there has been growing frustration. Many hope that progressive taxation will improve things. While some economies once had progressive tax systems, recent decades have seen regression.
KUALA LUMPUR, Malaysia, Mar 11 2020 (IPS) - The US is currently still in a stock market bubble which, if history is any guide, is likely to end, as argued by Thomas Palley. While President Trump would, of course, like to sustain it to strengthen his November re-election prospects, the Covid19 black swan is already showing signs of pricking the bubble
KUALA LUMPUR, Malaysia, Mar 10 2020 (IPS) - The US is currently still in a stock market bubble which, if history is any guide, is likely to end, perhaps soon due to Covid19. President Trump would, of course, like to sustain it to strengthen his November re-election prospects.
KUALA LUMPUR, Feb 3 2017 (IPS) - New US President Donald Trump has long insisted that its major trading partners having been taking advantage of it. Changing these trade terms and conditions will thus be top priority for his administration, and central to overall Trump economic strategy to ‘Make America Great Again’.
Jomo Kwame Sundaram was the Coordinator for Economic and Social Development at the Food and Agriculture Organisation of the United Nations (FAO), Rome, and received the 2007 Wassily Leontief Prize for Advancing the Frontiers of Economic Thought.