Capitalism

Global stock markets rallied on Feb. 26, helped by firmer oil prices, as finance ministers and central bankers from the world's leading economies gathered to discuss recent financial turmoil.

As G-20 ministers met in Shanghai, markets were awaiting the latest US growth data for more clues on the state of the world's biggest economy.

Equity prices were dropping again on Thursday on the Athens Stock Exchange (ASE) for fourth day in a row with the basic share price index down 5.11%, standing at 426 points.

The heaviest losses were recorded in banks, financial services  and constructions.

The stock market is moving today focusing on Eurogroup decisions and foreign stock markets.

One of most-cited social scientists of our time, Professor David Harvey speaks about the role of the reader, writer and everyday people in a social resistanceIncreasing social inequality, wars and migration all call for a clear policy response and an urgent reply to the question how can civil society fight back. 

'The Economic Transformation of Turkey: Neoliberalism and State Intervention' by Nilgün Önder (IB Tauris, $110, 288 pages)

World trade is about to see a dramatic change with two huge planned trade deals, which will cover almost 80 percent of the total trade in the world. The planned Trans-Pacific Partnerships (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), which will strengthen mainly America's hands in the global trade, should, however, be reconsidered carefully in the age of terror, which is

World trade is about to see a dramatic change with two huge planned trade deals, which will cover almost 80 percent of the total trade in the world. The planned Trans-Pacific Partnerships (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), which will strengthen mainly America's hands in the global trade, should, however, be reconsidered carefully in the age of terror, which is

One of Turkey's leading businesspeople has recommended interventions in capitalism to "sort out inequality" amid comments from President Recep Tayyip Erdo?an that employers should share their excess income with lower-paid employees.

Christopher Dembik, Economist of Saxo Bank, claims that a new crisis is coming and explains it in four points:

• Shortening economic cycle means more frequent crises
• ‘Great Divergence’ model saw China assuming the US’ leadership role
• We have likely reached the limits of adjusting monetary policy
• States have compromised a return to growth due to debt

A few weeks ago, at the height of the panic in the Chinese stock markets, a sour joke was doing the rounds: "Last month, the dog was eating what I eat. Last week, I was eating what the dog eats. This week, I think I'll eat the dog." A lot of people have lost a lot of money.

Pope Francis acknowledged on July 13 he had neglected problems of the middle class and said he was willing to have a dialogue with Americans who disagree with his criticism of capitalism.