NM's blog

“Neither China nor Russia today offers an ideological alternative to the existing order. As capitalist, oligarchic, extractivist states, they are fully integrated into the postwar global economic architecture.” The writers forget the inherent contradictions in capitalism that determine cooperation and conflict. China, not Russia, represents an economic and technological threat to the Western capitalist expansion (share of markets, extraction of resources, capital accumulation, etc), which in turn affects the social and economic relations in Western societies (domestic social conflicts). The threat of China is enough to create conflict between states. No ideological alternative is required. The writers seem to ignore the economic relative decline the major Western countries have been experiencing (in productivity, living standard, infrastructure, growth…) and how that impacts on the states's imperialist policies. In search of new geopolitics Le Monde diplomatique , October 2026 Exce...

An account, impressions and findings Pattaya Chiang Mai

By Michael Roberts Anwar Shaikh has died at the age of 80 after a period of illness. Born in Karachi, Pakistan, Anwar was THE figure in classical and Marxist economics of the last 40 years or more. He was an educator of many radical economists over decades as Professor of Economics at the New School for Social Research in New York. He wrote many seminal and important works, which were eventually compiled and added to in his magisterial book (always on my bookshelf ready to consult): Capitalism: competition, conflict, crises. Please read this article on Anwar's work that I wrote for the New School Economic Review in 2023, a special issue to celebrate his work and that of Duncan Foley. "Anwar Shaikh’s contribution to the economics of reality—i.e. the political economy of capitalism— is immeasurable." "Shaikh has covered just about every area of the macro (and the micro) and has delivered new theoretical insights backed up by empirical evidence—a combination sadly lac...

The left-wing economist Anwar Shaikh has passed away

What does normative Buddhism have to say about capitalism, obscene inequality, commodification of everything, exploitation…? Normative Buddhism—the core, scriptural teachings found in early texts like the  Pali Canon —does not directly use 19th- or 20th-century political terms like "capitalism". However, it contains a clear, systematic critique of the exact psychological and social mechanisms that drive global capitalism:  insatiable greed ( lobha ), institutionalized craving ( tanha ), and the exploitation of living beings .  [1, 2, 3]  Normative texts address these systemic issues through a distinct ethical framework: 💡 1. The Core Critique: Institutionalised Craving ( Tanha ) Modern economic systems rely on advertising and culture to fuel an ever-growing desire for consumption, a dynamic that normative Buddhism directly diagnoses as the root cause of human suffering ( dukkha ).  [2, 3]  The Delusion of "More":  The  Mahanidana Sutta  outl...

In the late 1960s, a group of sociologists visited then booming Luton, interviewing workers at Vauxhall and elsewhere for a renowned series of books, titled The Affluent Worker. Its central question was: when the working classes get middle-class salaries and mod cons, what happens to their class identity? Sixty years later, Britain is running the experiment in reverse , driving working-class families into deprivation and smashing up their communities.

Comparing London to two cities, and to Bangkok in Thailand. In London: Fear of the person standing next to you, phone snatching, knife stabbing, you look over your shoulder while walking sometimes, complaining and screaming at, sometimes insulting, staff on buses, cafes and restaurants, shoplifting…. For five months in Pattaya and Chiang Mai, Thailand I have not seen all what I have seen in London. Why? London and Thai cities like Chiang Mai and Pattaya offer vastly different safety profiles, cultural norms, and public behaviours.  Your experience highlights a well-documented contrast between major Western capitals and Southeast Asian hubs. While London is a high-energy global financial hub, it struggles with specific urban property crimes and visible street anti-social behavior. In contrast, Thai culture places a massive premium on public harmony, emotional restraint, and community policing, which fundamentally changes how safe and relaxed you feel on the street.  [1]  H...