Five years ago, economists prophesied a prosperous future for Nigeria, and the rest of the continent. Yet today, the country is facing what one leading Nigerian academic recently told me is its “biggest crisis since independence”. The devaluation of the Nigerian naira by 230% over the past year, along with a huge rise in inflation, has sparked an economic crisis unequalled in its modern history. With meat, eggs and milk now a luxury, there have been reports of people in the north of the country being forced to eat poor-grade rice usually used as fish food.
Economics
Steve Keen: Vale Geoff Harcourt
Australian economics has lost one of its most internationally renowned scholars with the passing of Geoffrey Harcourt at the age of 90. He was also one of its most prolific Read here
Geopolitics
Lea Köhne: (State) Immunity for Palestine?
The Berlin Public Prosecutor’s Office has decided to discontinue investigations against Mahmoud Abbas, the President of the Palestinian National Authority. The decision is instructive with regard to Germany’s understanding of sovereign immunity. Read HERE Mahmoud Abbas Photo: […]
Austerity
Bill Mitchell: Trickle down. Remember that. The evidence base continue to reject the notion as a scam
Trickle down. Remember that? This was the idea that if we redirect real income towards capital by boosting profits via real wage suppression and/or corporate tax cuts, as if by magic, corporations will start investing […]
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