Page 16 - Highest Stage News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Print this article Every day, we are warned about the power of monopolies, and some concerns are justified. But a look at history confirms that monopolies do not tend to survive all that long. Large companies such as Google, Amazon, Facebook, Microsoft, and Apple have come to be portrayed as the “enemy” all around the world. The paradox: Almost everyone uses their products and services, but hardly anyone likes the companies behind them. Some concerns are justified, especially regarding the political bias of a company such as Facebook. But most critics who call for stronger government reg...

China Daily, May 10, 2021. Cheng Enfu is a principal professor at the University of the Chinese Academy of Social Sciences, director of the Research Center for Economic and Social Development at the Chinese Academy of Social Sciences, and president of the World Association for Political Economy. He can be reached at 65344718[at]vip.163.com. Lu Baolin is a professor at the School of Economics, Qufu Normal University. Neoimperialism is the specific contemporary phase of historical development that features the economic globalization and financialization of monopoly capitalism. The characteristi...

According to the Australian Strategic Policy Institute (ASPI – check out who pays its bills), apparently everyone is racing to get their central bank to have a digital currency, with China years ahead in its development. The Bank for International Settlements Committee on Payments and Market Infrastructure noted, in March 2018, that such a currency would be “a central bank liability, denominated in an existing unit of account, which serves both as a medium of exchange and a store of value”. For China, this would mean a digitised renminbi (which translates as “people’s money”, tho...

Capitalism as a world system From the Summer 1986 issue of the World Socialist Capitalism is basically an economic system, one in which production is oriented towards the accumulation of capital out of monetary profits realised on the market, the source of these profits being the unpaid labour of those who produce the goods that are sold. Production for a market, the accumulation of wealth having a monetary value, and even the exploitation of wage-labour had existed since ancient times but as more or less isolated practices rather than as a complete economic system. It was only in the 16th c...