This week marks 40 years since the end of the gold-standard dollar and with it the Bretton Woods system. Here’s Gerald Epstein on what in meant at the time, essentially a US default by another name. And here’s Larry Elliot on why it still matters today.
Zygmunt Bauman, a familiar name to any cultural studies student, shares his perspective on consumerism and the London riots on Adbusters: “Objects of desire… are nowadays many and varied – and their numbers, as well as the temptation to have them, grow by the day. And so grows the wrath, humiliation, spite and grudge aroused by not having them – as well as the urge to destroy what have you can’t.”