Economics

U.S. oil prices dived to 22-year lows at just 11 U.S. dollars Monday after crashing almost 40 percent in a market flooded with crude and slammed by evaporating demand in the face of the coronavirus pandemic. Just before 1200 GMT,…

By Pedro Telles The writer is 2018-19 Atlantic Fellow for Social and Economic Equity at the International Inequalities Institute, London School of Economics. SÃO PAULO (IDN) – Tens of millions of Brazilians have begun receiving basic income payments aimed at…

Tourism may have been brought to a near-standstill by COVID-19, but the industry – which accounts for 10 per cent of global GDP – finds itself in a unique position to help put the global economy back on its feet,…

Austria will begin lifting its coronavirus restrictions on Tuesday. When Chancellor Sebastian Kurz announced the plan it caused a great deal of excitement — but this is the first step in a long process, experts say. Austria came to a…

By Gustavo Espinoza “Hispanics, who make up 29% of New York’s population, account for 34% of deaths from COVID-19; likewise the black community accounts for 28% of deaths despite representing 22% of the population. This is a clear sign of…

How did the United States — the richest country in the world — become the worldwide epicenter of the coronavirus outbreak, with one person dying of COVID-19 every 47 seconds? We spend the hour with Noam Chomsky, the world-renowned political dissident,…

Finance ministers of eurozone countries reached an “excellent accord” on fighting the pandemic-triggered recession. Europe has proven itself to be “a match” for the crisis, said French representative Bruno La Maire. After hours of talks on Thursday, representatives of 19…

Mythological stories are rich with narratives referring to the grave sins of man, heaping down the wrath of the gods upon them in the form of floods, plague, fire and famine. Sometimes these crimes were perpetrated against the natural order…

The head of the European Commission, Ursula von der Leyen, has urged huge investments in the EU budget amid the coronavirus crisis. Spain’s premier, too, wants a “wartime economy” followed by a recovery program. European Commission President Ursula von der…

By Richard D. Wolff The desperate policies of panic-driven governments involve throwing huge amounts of money at the economies collapsed in response to the coronavirus threat. Monetary authorities create money and lend it at extremely low interest rates to the…