World Economic League Table 2023
World Economic League Table 2023 by The Centre for Economics and Business Research 26 December 2022 Highlights of the Report: We expect world GDP will continue to recover. We estimate that it will amount to $102 trillion for 2022 as a whole and will roughly double to $206 trillion in 2037.
Punitive middle class tax rises will backfire
Back in the 1960s and 1970s, income taxes rose to such stratospheric levels that they led to an exodus of the super-rich. The marginal top rate at one point was 98 per cent applied to incomes over £20,000,equivalent to about £222,000 today. Most well-off people paid 60p in the pound until
ILO Report confirms wages caused no inflation
By Nick Beams A report issued by the International Labour Organisation has blown apart the claims by capitalist governments and central bankers around the world that interest rate hikes, now threatening to drive significant areas of the world economy into recession, are necessary to “fight inflation” by suppressing wage demands. The ILO’s
Is the world in a Long Depression?
Re-published below is an article by Marxist economist Michael Roberts on what he calls the Long Depression. His book titled the same is a must read. Roberts' article was originally published in his blog on 13 March 2022 One of my basic theses about modern capitalism is that since 2008, the
What is Wickremasinge’s Social Market Economy ?
What is Sri Lanka President Ranil Wickremasinghe proposing when he refers to a Socal Market Economy (SME) ? UNP Government in 2015 proposed the same. Redeem Sally wrote an article published in DailyFT on 07 October 2015. We republish it here. SME is another pseudo-name for Neoliberal Market Economy,
Biden administration grants immunity to Saudi crown prince, murderer of Jamal Khashoggi
By Patrick Martin US State Department has granted immunity to Saudi Crown Prince Mohammed bin Salman, shielding him from prosecution for the murder of Saudi political dissident and legal permanent US resident Jamal Khashoggi. The decision was disclosed last week and widely reported on Friday. This action shows that the Biden administration’s
Wickremasinghe Government to employ school-going youth in “part time” jobs
By Sanjaya W. Jayasekera Wickremasinghe government's neo-liberal labour liberalization process has started. The government is about to amend existing labour laws to remove restrictions imposed on youth and women employment. Under Sri Lankan law "young persons" have been defined as those between the age range of 16 to 18 years, while
In a conspiracy against the People, Sri Lanka Parliament elects Ranil Wickremasinghe the President
By Sanjaya W. Jayasekera On 20 July, Sri Lanka Parliament constitutionally elected the former Prime Minister and acting President, Wickremasinghe, a right-wing politician and the longtime leader of the United National Party(UNP), as the eighth President of the island. Rejected by the people, his appointment is anti-democratic. His election was
US Supreme Court abolishes constitutional right to abortion
By Eric London On Friday, at the stroke of a pen, six unelected judges ended the right to abortion, dramatically altering the country’s legal and social landscape. For the first time in American history, the Supreme Court eliminated a fundamental constitutional right broadly recognized and supported by the overwhelming majority of
US Supreme Court orders state funding of religious education in Maine
By John Andrews Yesterday, the US Supreme Court demolished more of what once stood as a “wall of separation between church and state,” embodied in the first clause of the first sentence of the First Amendment to the Constitution, the prohibition against government “establishment of religion.” Chief Justice John Roberts, writing for