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Showing posts with the label “private capital”

The Political Logic of Russia’s Imperialism

According to the political economist Ilya Matveev (2021), Russian imperialism transitioned from the economic logic to the territorial logic around the year 2014, when the Russian state resigned from the strategy of expanding private businesses to Ukraine and other post-Soviet republics and started waging political control over these territories even at the expense of the interests of private capital.

Climate Change

Former governor of the Bank of England, Mark Carney, told the BBC that the answer to the climate crisis was investment in a green economy.  Carney  says the answer lies in a global pot of $170tn of private capital “which is looking for disclosure.” Now, just think what that capital could do for the earth and humanity. That is more than eight times the annual GDP of the U.S.! It is also a proof that the issue is not about lack of capital or resources but about political economic decisions tied up to the functioning of the capitalist system. Private ownership is one, if not the main, hindrance to real change.