Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. The defining characteristics of capitalism include private property, capital accumulation, competitive markets, price systems, recognition of property rights, self-interest, economic freedom, work ethic, consumer sovereignty, decentralized decision-making, profit motive, a financial infrastructure of money and investment that makes possible credit and debt, entrepreneurship, commodification, voluntary exchange, wage labor, production of commodities and services, and a strong emphasis on innovation and economic growth. In a market economy, decision-making and investments are determined by owners of wealth, property, or ability to maneuver capital or production ability in capital and financial markets—whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.
Naomi Klein is a Canadian author, social activist, and filmmaker known for her political analyses; support of ecofeminism, organized labour, and criticism of corporate globalization, fascism and capitalism. In 2021, Klein took up the UBC Professorship in Climate Justice, joining the University of British Columbia's Department of Geography. She has been the co-director of the newly launched Centre for Climate Justice since 2021.
David C. Korten is an American author, former professor of the Harvard Business School, political activist, prominent critic of corporate globalization, and "by training and inclination a student of psychology and behavioral systems". His best-known publication is When Corporations Rule the World. In 2011, he was named an Utne Reader visionary.
Open Society Foundations (OSF), formerly the Open Society Institute, is a US-based grantmaking network founded by business magnate George Soros. Open Society Foundations financially supports civil society groups around the world, with the stated aim of advancing justice, education, public health and independent media. The group's name was inspired by Karl Popper's 1945 book The Open Society and Its Enemies.
Globalism has multiple meanings. In political science, it is used to describe "attempts to understand all of the interconnections of the modern world—and to highlight patterns that underlie them". While primarily associated with world-systems, it can be used to describe other global trends. The concept of globalism is also classically used to focus on ideologies of globalization instead of its processes ; in this sense, "globalism" is to globalization what "nationalism" is to nationality.
Market fundamentalism, also known as free-market fundamentalism, is a term applied to a strong belief in the ability of unregulated laissez-faire or free-market capitalist policies to solve most economic and social problems. It is often used as pejorative by critics of said beliefs.
The Rust Belt, formerly the Steel Belt or Factory Belt, is an area of industrial decline centered in the Great Lakes region of the United States. Common definitions of the belt stretch from southeastern Wisconsin and northern Illinois to western Pennsylvania and Upstate New York, spanning large parts of Indiana, Michigan, and Ohio; some definitions also include parts of Minnesota, Iowa, Missouri, Kentucky, West Virginia, Maryland, and New Jersey. From the late 19th century to the late 20th century, the region formed the industrial heartland of the country, with its economies largely based on steel and automobile production, coal mining, and the processing of raw materials. The term "Rust Belt", derived from the substance rust, refers to the socially corrosive effects of economic decline, population loss, and urban decay attributable to deindustrialization. The term gained popularity in the U.S. starting in the 1980s, when it was commonly contrasted with the Sun Belt, which was then surging.
Anatole Kaletsky is an economist and journalist based in the United Kingdom. He has written since 1976 for The Economist, The Financial Times and The Times of London before joining Reuters and The International Herald Tribune in 2012. He has been named Newspaper Commentator of the Year in the BBC's What the Papers Say awards, and has twice received the British Press Award for Specialist Writer of the Year.
William Harold Greider was an American journalist and author who wrote primarily about economics.
Ian Arthur Bremmer is an American political scientist, author, and entrepreneur focused on global political risk. He is the founder and president of Eurasia Group, a political risk research and consulting firm. He is also founder of GZERO Media, a digital media firm.
George Soros is an American investor and philanthropist. As of October 2023, he had a net worth of US$6.7 billion, having donated more than $32 billion to the Open Society Foundations, of which $15 billion has already been distributed, representing 64% of his original fortune. In 2020, Forbes called Soros the "most generous giver" in terms of percentage of net worth. He is a resident of New York.
Per Anders Åslund is a Swedish economist and former Senior Fellow at the Atlantic Council. He is also a chairman of the International Advisory Council at the Center for Social and Economic Research (CASE).
The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009. The scale and timing of the recession varied from country to country. At the time, the International Monetary Fund (IMF) concluded that it was the most severe economic and financial meltdown since the Great Depression.
The Ascent of Money: A Financial History of the World is a 2008 book by then-Harvard professor Niall Ferguson, and an adapted television documentary for Channel 4 (UK) and PBS (US), which in 2009 won an International Emmy Award. It examines the long history of money, credit, and banking.
Uneven and combined development, unequal and combined development, or uneven development is a concept in Marxian political economy intended to describe dynamics of human history involving the interaction of capitalist laws of motion and starting world market conditions whose national units are highly heterogeneous. The concept is used by Marxist scholars concerned with economic development. David Harvey is an advocate of the usefulness of this theory to reconstruct historical materialism on Modern terms. It is an accepted key concept in academic economic geography.
Eric Holt Giménez is an agroecologist, political economist, lecturer and author. From 1975 to 2002 he worked in Mexico, Central America and South Africa in sustainable agricultural development. During this time he helped to start the Campesino a Campesino Movement. He returned to the U.S. twice during this period: once for his M.Sc. in international agricultural development and then for his Ph.D. in environmental studies. His dissertation research was the basis for his first book Campesino a Campesino: Voices from the farmer-to-farmer movement for sustainable agriculture in Latin America. After receiving his Ph.D. with an emphasis in agroecology and political economy, he taught as a university lecturer at UC Santa Cruz and Boston University in the International Honors Program in Global Ecology. He gives yearly courses of food systems transformation and social movements in Italy in the Masters program of the University of Gastronomic Sciences in Pollenzo and in the doctoral program at the Universidad de Antioquia in Medellín, Colombia. His work has appeared in The New York Times, The Herald Tribune, Le Monde Diplomatique, La Jornada and The Des Moines Register. He has a blog on the Huffington Post.
Anwar M. Shaikh is a Pakistani American heterodox economist in the tradition of classical political economy and Marxian economics.
The 2007–2008 financial crisis, or the global financial crisis (GFC), was the most severe worldwide economic crisis since the 1929 Wall Street crash that began the Great Depression. Causes of the crisis included predatory lending in the form of subprime mortgages to low-income homebuyers and a resulting housing bubble, excessive risk-taking by global financial institutions, and lack of regulatory oversight, which culminated in a "perfect storm" that triggered the Great Recession, which lasted from late 2007 to mid-2009. The financial crisis began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value. Financial institutions worldwide suffered severe damage, reaching a climax with the bankruptcy of Lehman Brothers on September 15, 2008, and a subsequent international banking crisis.
The anti-globalization movement, or counter-globalization movement, is a social movement critical of economic globalization. The movement is also commonly referred to as the global justice movement, alter-globalization movement, anti-globalist movement, anti-corporate globalization movement, or movement against neoliberal globalization. There are many definitions of anti-globalization.
The World Is Curved: Hidden Dangers to the Global Economy is a book written by David M. Smick, a financial market consultant, non-fiction author, and Chairman and CEO in the consultancy company of Johnson Smick International (JSI). This book opposes the views of Thomas Friedman's The World Is Flat: A Brief History of the Twenty-First Century. Smick considers the potential negative ramifications of a constantly fluctuating global economy and analyzes possible solutions to these challenges.
