Understanding and Responding to the Global Economic Crisis, September 8, 2010

Presented in Thessaloniki, Greece, September 8, 2010 at the A-Fest, Festival of the Anti-Authoritarians
We are living in a world where the people of most countries are suffering from high unemployment, heightened job insecurity, continuing and obscene inequalities of wealth and income both within most countries, and between the global North and global South, with widespread hunger and poverty. Most of the corporate and government elites are claiming that the major economic problem right now are large government deficits and government debt; and that government spending for pensions, for public sector wages, and for social programs must be cut back. Greece, which you know much more about than me, in order to get loans from the IMF and European Union is consciously following these austerity policies. By cutting consumer, business and government demand, these inhumane and unnecessary austerity policies are causing the already high unemployment and poverty to worsen and grow towards 15-20% in the next few years with output, GDP, and real incomes and wages also falling…

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Understanding and Responding to the Global Economic Crisis

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