Browsing All posts tagged under »over production«

GM quitting SA is a wake-up call to all

May 29, 2017

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The General Motors pull-out of South Africa is an excellent example of the dilemma facing more and more companies on a global scale: the need to remain profitable in a world of cut-throat competition in an environment of surplus capacity and production. And for every bit of corporate gain, it will be workers who will bear the pain.

When the mainstream meets Marx

December 2, 2011

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When the well-known mainstream economist Nourial Roubini, a former adviser to the International Monetary Fund, quoted Karl Marx as perhaps being right about an inherent fault in the economic system, he caused a minor stir, but no real criticism. Because the inherent fault is one that is now generally acknowledged and is at the centre of the present — and ongoing — global economic crisis.

Voodoo economics, journalism & human rights

January 7, 2011

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It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis. And that this crisis is a consequence of adherence to an almost religious belief that “the market” is some sort of sane and sensible mechanism; that the mystical “invisible hand” mentioned by Adam Smith is a reality.

Voodoo economics, journalism & human rights

January 1, 2011

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(First published:  February, 2006) It is time we all stopped bowing down at the altar of voodoo economics and acknowledged that our world is in crisis.  And that this crisis — not of shortages, but of gluts — is a consequence of adherence to an almost religious belief that “the market” is some sort of […]

Turning the (non-existent) economic corner

November 24, 2010

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We have turned the corner economically. That is the ongoing claim from politicians, pundits and mainstream media commentators. But, as Federation of Unions of SA general secretary Dennis George has noted: “Growth without job creation is meaningless. It certainly is for the overwhelming majority of the population, and this is a situation that applies across the world, although not in any uniform manner. For all the optimistic pronouncements, the global economic crisis continues and there is no sign that it is ending.

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Cape Town, South Africa-based journalist commentator and author specialising in political and economic analysis and labour matters.

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