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    Common Dreams. To inform. To inspire. To ignite change for the common good.
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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    robert pollin

    Noam Chomsky at MIT in 1987

    A Note on Noam Chomsky and Climate Collapse

    As Noam once said, “if you assume there is no hope, you guarantee there will be no hope.”

    C.J. Polychroniou
    Aug 11, 2024

    In many of his recent writings, Noam Chomsky has warned that humanity has reached a very dangerous point because we are now living in a world of cascading crises. Indeed, when we look around us, we see a global web of crises. Economic inequality is destabilizing democracies and making a mockery of the vision of a decent society; armed conflicts continue to mark human existence; and nuclear weapons and global warming threaten humanity’s survival. Meanwhile, we must feel aghast over the fact that cynicism and irrationality continue to define the mindset of the powers that be. This is precisely the reason why Chomsky has always seen activism as our only hope.

    What’s happening in Gaza is an abomination, one that the leaders of this world are watching coldly from a distance. The same can be said about climate collapse, which is as real as the daily slaughtering of scores of innocent women and children in Gaza by Israel’s military. Our global institutions are incapable of doing anything meaningful about these crises. Real power is in the hands of the most powerful nation-states and their leaders have opted to turn a blind eye to both disasters so as not to disrupt business as usual. Profits and geostrategic interests take priority over human lives and the environment. This is as clear as day, and it has always been so since at least the emergence of capitalism and the rise of the nation-state.

    Keep ReadingShow Less
    antarctica
    climate-emergency
    Traders work on the floor of the New York Stock Exchange

    A Progressive Political Economy Guide to Inflation

    Mainstream economics failed miserably in addressing the financial crisis of 2007-08, so why would it be any different now when it comes to making sense of the rising inflation of the past 18 months?

    C.J. Polychroniou
    Jan 06, 2023

    Since 2021, prices have surged dramatically across countries and inflation has become a global challenge. Global central banks delivered historic rate hikes in 2022 in order to tame inflation and continued doing so even when inflation was falling, thereby risking a global recession.

    Indeed, for the past five months, average inflation in the U.S. has been at 2.4%. Across Europe, inflation has also been dropping. In Spain, for instance, consumer prices rose 5.8% in December, down from 6.8% in the previous month. The December figure represented the fifth consecutive month of declining inflation in Spain. Yet, the European Central Bank—which like the U.S. Federal Reserve has also set the target rate for inflation at the arbitrary number of 2% per year—plans to continue raising interest rates “significantly further” as it deems that inflation “remains far too high and is projected to stay above the target for too long.”
    Meanwhile, both the U.S. and European economies are expected to enter a recession in 2023. For what it’s worth, the head of the IMF expects a full one-third of the world to slide into recession this year.

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    political economy
    This October 14, 2014 photo shows an oil rig in Vernal, Utah, in the Uintah Basin. (Photo: RJ Sangosti/The Denver Post via Getty Images)

    Fight Climate Emergency by Nationalizing US Fossil Fuel Industry, Says Top Economist

    "If we are finally going to start taking the IPCC's findings seriously, it follows that we must begin advancing far more aggressive climate stabilization solutions than anything that has been undertaken thus far," writes Robert Pollin.

    Jessica Corbett
    Apr 08, 2022

    In the wake of a United Nations report that activists said showed the "bleak and brutal truth" about the climate emergency, a leading economist on Friday highlighted a step that supporters argue could be incredibly effective at combating the global crisis: nationalizing the U.S. fossil fuel industry.

    "With at least ExxonMobil, Chevron, and ConocoPhillips under public control, the necessary phaseout of fossil fuels as an energy source could advance in an orderly fashion."

    Keep ReadingShow Less
    big oil

    Over 100 Economists Call on Congress to Take Bold Action to Stop Mass Layoffs

    Newswire Editor
    Apr 29, 2020

    In the last five weeks, over 24 million U.S. workers have applied for unemployment insurance and millions of small businesses are on the brink of collapse. As Congress considers further coronavirus relief, more than 100 prominent economists signed two letters to call on Speaker of the House Pelosi to adopt two bold policy solutions to stop mass layoffs, keep people employed and on employer-sponsored health care, and keep businesses, especially small businesses, intact: a paycheck guarantee and expanded work-sharing.

    The letters, organized by the nonprofit Congressional Progressive Caucus Center, include high-profile economists including Robert Reich, Jeffery Sachs, and Robert Pollin.

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