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Neoliberalism: An increasing gap among incomes and tax gifts to Capital  Evolution of low and high salaries since the 1960s The May 1968 general strike in France led to a considerable increase in the minimum wage over 15 years We do not have room to sum up the evolution of income inequalities over the last two centuries. We shall limit ourselves to highlighting the evolution in France since 1968. The May 1968 general strike in France, and the Grenelle accords that followed it, led to a considerable increase in the minimum wage over 15 years: “The purchasing power of the minimum wage acco...

On 11 April 2021, Guillermo Lasso (52,4%), the right-wing candidate, defeated Andres Arauz, the candidate supported by Rafael Correa and part of the Left, by 52.4% vs 47.6% in the second round of ballots for the presidential election. Lasso was elected thanks to the division of the Left, since a significant part of it, which has become deeply diffident of Rafael Correa, called for a null vote. Votes on the popular side, that represented a clear majority in the first round of February 2021, were divided, which made it possible for a former banker to be elected president. The situation is serio...

Latin America has once again entered a period of strong social and political turbulence Interview with Franck Gaudichaud Franck Gaudichaud recently wrote and coordinated two collective works drawing a critical assessment of “progressive” political attempts to challenge neoliberal hegemony in Latin America. In this interview, he considers the social and political dynamics of the recent period, and also current issues in the region. The interview was conducted by Rosa Moussaoui, journalist and senior reporter for the newspaper L’Humanité. What is the common political thread to what you c...

Series: 1944-2021, 77 years of interference from the World Bank and the IMF (Part 28) The World Bank did not Foresee the Arab Spring Popular Uprisings and still Promotes the very same Policies that triggered them 12 April by In 2021, the World Bank (WB) and the IMF will reach the age of 77. These two international financial institutions (IFIs), created in 1944, are dominated by the United States and a few major allied powers that act to generalize policies contrary to the interests of the people. The WB and the IMF have systematically lent to states in order to influence their poli...

3 April by Piyumi Fonseka Sometimes a loan obtained to save a life can end up taking another life, in the debt-stricken villages of Sri Lanka. A 24-year-old mother killed her child and committed suicide two months ago due to her inability to repay a loan of Rs. 400, 000 to a micro-finance company. It is just one story out of millions of borrowers. Like more than 2.5 million other people in Sri Lanka, most of them were women; she had turned to micro credit in an effort to lift herself out of poverty. Despite microfinance loans represent only 3% of the total loan portfolio of the secto...