May 17, 2016

Can United States Afford Another Appeasement?

Nuclear Deal with Iran raises concerns over Tehran's escalation of proxy wars in the Middle East.

“Good Man” wrote Roosevelt in a wire sent to Chamberlain immediately after Hitler decided to acknowledge President’s recommendation for a peace conference that would supposedly solve the Munich Crisis in 1938. Today, we know that this conference, another attempt to appease Hitler, did not work to settle peace but rather legitimized, his aggression policies in Europe.

Leia Mais…

February 01, 2016

Greek Debt Crisis: The Origins and The Way Forward

The Origins of the Crisis and Current Approach of the Troika
  Greek Debt Crisis is a mislabeled phenomenon. The causes of the turmoil does not originate solely from Greece’s own economic mismanagement and structural problems but in fact from the inherent contradictions of European banking system. Credit boom which was mainly driven by European Banks during the first decade of Euro made everyone to borrow and lend with “super-low” interest rates without taking into account the differences and vulnerabilities of European economies (Blyth 2015a). Hence, the responsibility lies on reckless international lenders as much as it lies on irresponsible Greek borrowers.

Leia Mais…

January 25, 2016

Why Are Poor Nations Poor?

Poverty Basics: From Historical Materialists to State Interventionists
From late nineteenth to twentieth century, two theories attracted most of the attention to explain the causes of poverty within the framework of Marxism-Leninism. The Asiatic Mode of Production was one of them. This approach suggested that poverty (in Asiatic societies) was mainly caused by a “despotic ruling clique” which directly expropriated surplus from village communities (p.94 Lewis 1997). The second one, the Dependency Theory which explained the foundations of poverty via the Latin American experience, claimed that capitalist states entrenched the poverty by ensuring resource flow from the "periphery" of underdeveloped states to the "core" of wealthy states. Theory further asserted that such an outcome actually originated from the deterioration of terms of trade for the benefit of developed countries which in turn enriched them at the expense of underdeveloped ones (Prebisch, 1950; Singer, 1950).

Leia Mais…