socialist-economics

The Iran-China Deal http://feedproxy.google.com/~r/espeak/~3/AoOsKXy2Y2A/the-iran-china-deal.html Yes, this 25-year deal is a big deal, just recently signed and not getting much attention in the US media.  Juan Cole has called it the most important deal involving China and the Middle East since the days of the Mongol Empire in the 1200s, when both what was then Persia and China were actually under the same ruler.  This $400 billion deal was signed on the 50th anniversary of the opening of diplomatic relations between Iran (then under the rule of the Shah) and the Peoples' Republic of China (then under the rule of Mao Zedong). Cole identifies this deal as a "slap in the face" to the United States, or at least a clear sign of the limits of US power in the Middle East, with China stepping forward as a strong long haul rival. I note only two points here.  One is that on the one hand this is certainly a repudiation of US policy regarding Iran in recent years.  It may be that i...

Martin Hart-Landsberg   is Professor Emeritus of Economics at Lewis and Clark College, Portland, Oregon and Adjunct Researcher at the Institute for Social Sciences, Gyeongsang National University, South Korea.   Time to put the spotlight on corporate taxes https://economicfront.wordpress.com/2021/03/27/time-to-put-the-spotlight-on-corporate-taxes/ A battle is slowly brewing in Washington DC over whether to raise corporate taxes to help finance new infrastructure investments.  While higher corporate taxes cannot generate all the funds needed, the coming debate over whether to raise them gives us an opportunity to challenge the still strong popular identification of corporate profitability with the health of the economy and, by extension, worker wellbeing. According to the media, President Biden's advisers are hard at work on two major proposals with a combined $3 trillion price tag.  The first aims to modernize the country's physical infrastructure and is said to include funds f...

The  always provocative Noah Smith from Bloomberg It's Not Infrastructure; It's Reimagining the U.S. Economy by Noah Smith <p>Biden is aiming for transformation with his next legislative push that tackles social ills and climate change to fit the needs of the future</p> https://www.bloomberg.com/opinion/articles/2021-03-29/it-s-not-infrastructure-it-s-reimagining-the-u-s-economy?sref=woWS9Szx President Joe Biden's next major legislative initiative is called an "infrastructure" bill, but it's actually something bigger. It's about transforming the nation to better fit the needs of our future economy — in other words, industrial policy. Usually when we think of infrastructure bills, we're talking about repairing all the old stuff: roads and bridges. This bill will definitely include that, but it will also build lots of  new  infrastructure  : a modernized  electrical grid , electric vehicle charging stations and public transit. In addition, Bi...

The Giant Ship Blocking the Suez Canal Is Finally Freed by Jack Wittels and Ann Koh The giant vessel that's blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world's most important trade arteries. https://www.bloomberg.com/news/articles/2021-03-29/the-giant-ship-blocking-the-suez-canal-is-finally-freed?sref=woWS9Szx Tugboats tow the Ever Given along the Suez Canal on March 29.   Source: Suez Canal Authority LISTEN TO ARTICLE 3:04 SHARE THIS ARTICLE Share Tweet Post Email The giant vessel that's blocked the Suez Canal for almost a week was pulled free from the bank, a major step toward getting ships moving again along one of the world's most important trade arteries. The stoppage caused a tailback of hundreds of vessels, snarled supply chains already under pressure due to the coronavirus pandemic and provided a stark reminder of the fragility of the global trade infrastructure. Horn...