World Truth

A longstanding fixture of Cuba's outreach has been sending physicians to fellow Latin American nations. Witness the still-ongoing Venezuela-Cuba oil-for-doctors scheme : 90,000 barrels per day fo…

In addition to cooking the books , Argentina appears stuck in an import substitution industrialization [ISI] time warp. I sure would love to sell bell-bottom pants there for the full retro flavour, b…

While I am certainly no fan of Hugo Chavez, I do not wish terminal illness on anyone as a God-fearing Christian. That said, financial markets make it their business to peer into the crystal ball to f…

You are doubtlessly familiar with the " world's worst dictators " feature from Parade . Apparently, this concept of comparing authoritarian rule remains popular as our colleagues over a…

I am teaching Marxist perspectives in International Political Economy class this week in the usual sequence of tackling it together with liberalism and mercantilism/realism. In other words, the thre…

This post is a continuation of a recent thread in which more or less conventional economist Nouriel Roubini lauds Marx for correctly describing the situation most of the industrialized world now fin…

It appears that even Mr. Roubini Global Economics Monitor himself cannot but return to the scribblings of one of the central figures in classic political economy, Karl Marx. (Yes, neoclassical econom…

It's somewhat odd that the whitebread commentariat hasn't made more of this event, especially since it's happening in their own backyard. While dependencia theory of Latin American count…

Workers of the world unite! (Or, at least some of those in Asia.) After the much-ballyhooed worker suicides at Chinese original equipment manufacturer (OEM) Foxconn, many multinationals sensitive to …

Inflation is a problem for businesses in that it is hard to foresee future costs. In turn, this makes it difficult to apportion investment since determining discount rates is quite challenging. That …