May, 2016 Economy


By Halil Karaveli
The dynamics of capitalist development have played a much more central role for Turkey’s journey from secularism to religious conservatism – and before that for the Kemalist break with Islam – than what is generally recognized.

Economy, Politics, Turkey

Storefronts along Hudson Street in New York City, circa 1860 to 1900.

By DEIRDRE N. MCCLOSKEY

The Great Enrichment of the past two centuries has one primary source: the liberation of ordinary people to pursue their dreams of economic betterment.
Why are we so rich? An American earns, on average, $130 a day, which puts the U.S. in the highest rank of the league table. China sits at $20 a day (in real, purchasing-power adjusted income) and India at $10, even after their emergence in recent decades from a crippling socialism of $1 a day. After a few more generations of economic betterment, tested in trade, they will be rich, too.


An investigative economist has crunched 45 years of official statistics to discover just how much kleptocrats have plundered from 150 mostly poor nations.
For the first time we have a reliable estimate of how much money thieving dictators and others have looted from 150 mostly poor nations and hidden offshore: $12.1 trillion.

By Pepe Escobar

Major turbulence seems to be the name of the game in 2016. Yet the current turbulence may be interpreted as the calm before the next, devastating geopolitical/financial storm. Let’s review the current state of play via the dilemmas afflicting the House of Saud, the EU and BRICS members Russia, Brazil and China.

Economy, Global, Politics