Dr. Gerald Epstein is Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts Amherst. Among his many excellent works he and Juan Antonio Montecino calculated the costs to the United States economy of its financial sector across three categories: rents and excess profits; misallocation; and the crisis costs of 2008. Gerald believes that the number he arrives at, an excess cost of $22.3 trillion between 1990 and 2023, is likely to be a modest underestimation because the costs of the financial crisis may be much greater and the numbers do not involve lost tax revenues from various financial innovations.
Ada Colau was elected in 2015 as Barcelona’s first woman mayor. Under her leadership Barcelona has increased social spending to historic levels, spearheading initiatives to prevent gentrification by increasing public and social housing, created a […]
Economist and author Michael Hudson, author of ‘…and Forgive Them Their Debts: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year’, shares with journalist Chris Hedges how ancient cultures forgave debt cyclically […]
This is a talk held by Ann Pettifor on 15 September with the subject “Financial capitalism 10 years after Lehman Brothers (Inciting uprisings against the imperious government of finance capital)”, in Berlin at the Monarch […]