Financial Crisis

Environmentalism Was Never Dead, Despite Announcements of its Funeral

Picture: Rene Ehrhardt Glenn Ashton - In 2005 two environmental activists published a provocative paper titled 'The Death of Environmentalism.' It was met with predictable fury from the environmental movement and with support from big business who wished for nothing more than to see the extinction of pesky environmentalists. Hindsight broadens our historical perspective. Around the same period as the publication of this paper, I rebutted an article in the local media that echoed these allegations of the lack of direction, of...

When Utopia Crumbles: Why Revolutionary Road Was Shut Out at the Oscars

Picture: www.reelmovienews.com Kim Nicolini - It's no wonder Revolutionary Road was shut out of the Oscars. As stated in this article from the New York Times, this year the Academy is looking to stories of the “indomitability of human will” to grace with its little gold statues. All of the nominees for best picture are “films built on individual successes” that provide “a nice, big chunk of uplift.” From Slumdog Millionaire to Milk to Frost/Nixon, these are stories where the little guy can beat the big...

Iceland's Saucepan Revolution: Can a Hedge-Fund Island Lose Its Shirt and Gain Its Soul?

Picture: pallih Rebecca Solnit - In December, reports surfaced that Treasury Secretary Henry Paulson pushed his Wall Street bailout package by suggesting that, without it, civil unrest in the United States might grow so dangerous that martial law would have to be declared. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), warned of the same risk of riots, wherever the global economy was hurting. What really worried them wasn't, I suspect, the possibility of a lot of people thronging the...

Global Financial Crisis Fuels Worldwide Protests

The Real News Network (TRNN) reports that protests are on the increase as a result of economic hardship emanating from the global financial meltdown. TRNN reports that there is a growing consensus that global elites are not qualified to handle the world's problems, leading to massive demonstrations against elites. On 1 February 2009, government representatives and corporate executives returned from the  World Economic Forum in Davos. The Associated Press reported "The world's...

Why Do Food Prices Remain So High?

Picture: ralphbijker Glenn Ashton - Major retailers like Pick n Pay have asked suppliers for explanations as to why the food costs have remained high, while transport and input costs have fallen. This is indicative of fundamental problems in the food marketplace. The cynical world view of many, that food producers are all too quick to raise prices when margins are threatened but loath to reduce them when increased profits are locked in, appears valid. There is usually a lag for input costs to affect prices of grocery items;...

The World Economic Forum 2009: Implications of Financial Crisis for Africa

The opening morning session of the World Economic Forum  traditionally focuses on the "Global Economy." This year the forum is taking place in Davos from 29 January to 1 February 2009. The session is convened by Michael Elliot, the editor of Time International. On the opening panel this year were Trevor Manuel, Finance Minister of South Africa; Justin Yifu Lin, Senior Vice President and Senior Economist at the World Bank; Ferit F. Sahenk, Chairman, Dogus Group, Turkey; Heizo...