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Economics Archives - Institute of the Black World 21st Century

Commentary, Articles and Essays by Dr. Julianne Malveaux

Poverty and the Fallacy of Long-Term Economic Greatness

By Dr. Julianne Malveaux

By Julianne Malveaux — The first week of July produced a somewhat positive Employment Situation report. While the unemployment rate ticked up just a bit, about 224,000 new jobs were created, nearly three times as many as were created in the tepid previous month. There was, of course, the Administration crowing about the strength of the economy, and with wage growth on the rise, an impassioned outsider might agree that…

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“If there was something to do in this town, this town would prosper, because there’s a lot of loyal people here, a lot of good people,” said Tre Lewis, who lives with his family on Youngstown’s south side.

The Nonwhite Working Class

By Editors' Choice

Talking to the people in Youngstown, Ohio, that the national media usually ignores. By Henry Graber, The Slate — YOUNGSTOWN, Ohio—In 1984, Lewis Macklin stood up at a community meeting and argued that city officials should shut down his high school. It had been seven years since Black Monday—when Youngstown Sheet & Tube announced it was closing its largest factory, costing 5,000 people their jobs and setting off a chain of plant…

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A mural of Bob Marley at Notting Hill Carnival in 2012.

Jamaica Is Using Bob Marley’s Legacy to Market Austerity

By Editors' Choice

The reggae icon would be embarrassed by his country’s attempts to rebrand a disastrous ideology. By Keston Perry, The Nation — The island nation of Jamaica holds a special, almost spiritual significance for many people of color, as well as for anyone concerned about advancing equality and justice in the world. It is the birthplace of the Rastafari movement, reggae, dancehall—and democratic socialism before it became popular in the United States.…

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New friendship or new colonialism?

The Caribbean Must Play Its China Card Wisely

By Commentaries/Opinions

The growing competition between Washington and Beijing for influence offers opportunity and perils. By Mac Margolis, Bloomberg — In his recent swing through Latin America, U.S. Secretary of State Mike Pompeo had some stern words for regional leaders about Chinese bearing gifts. “Malign practices,” “predatory loans,” envoys toting “bags full of money” to bribe officials: Such were the hazards of consorting with the would-be mandarins of the Americas, he said…

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"It is transnational corporations, the stand-ins of yesterday's British empire—often aided by an enthusiastic national bourgeoisie—that have robbed the Ghanaian people of sovereignty over their resources, their wealth, and their future," writes Celina della Croce.

98.3 Percent of Ghana’s Gold Remains in the Hands of Multinational Corporations

By News & Current Affairs

The disproportionate focus on corruption of national leaders distracts from the systemic theft of national wealth by multinational corporations By Celina della Croce — Every year, the vast majority of Ghana’s natural wealth is stolen. The country is among the largest exporters of gold in the world, yet—according to a study by the Bank of Ghana—less than 1.7 percent of global returns from its gold make their way back to the Ghanaian…

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Minority Cannabis Business Association

MCBA Releases Model Municipal Social Equity Ordinance for Nationwide Adoption

By Editors' Choice

Portland OR, March 11th – Members of the Minority Cannabis Business Association (MCBA) unveiled their latest model policy recommendation to lawmakers and cannabis regulators, this time releasing a Model Municipal Social Equity Ordinance to be adopted by local governments throughout the country. The Model Ordinance was drafted by a team of attorneys and drug policy reform advocates from MCBA, the National Cannabis Industry Association (NCIA) and the Drug Policy Alliance (DPA)…

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Abraham Lincoln

One Way to Make Reparations Work

By Editors' Choice, Reparations

By Noah Smith, Bloomberg — The issue of reparations for African Americans is, of course, full of more moral and historical issues than one column, even by someone with much greater understanding and deeper knowledge than me, could ever resolve. But since the proposal is now being taken seriously, it’s worth thinking about the economics of how it could and should work. The idea of compensating the descendants of American…

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Another Look at W.E.B. Du Bois

By Editors' Choice

By Heather Gray, Justice Initiative —  Preface I first wrote this article below about W.E.B. DuBois (1868-1963) in 2007 for Counterpunch. It has been slightly edited. I think given the on-going and important discussion in America of economic systems, and more interest in socialism generally, that I would send this out yet again. There is perhaps no one who can explain the dilemma of struggle and economic challenges based on…

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Oil History in Venezuela

Oil History in Venezuela

By Editors' Choice

Venezuelan Oil Unifying Latin-America By Johannes Alvarez & James Fiorito 2005 Stanford University Introduction Hugo Chavez was named the fourth most influential person of 2005 in the world by Time magazine. Why is the leader of a relatively small country and economy like Venezuela such a powerful influence in the world? Oil has played a vital role in Chavez’s ability to execute his ideas, and is crucial to his countries…

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