Interest Rates Rise, Rents Too

21.08.2023 Germany: After years of rising prices, apartments and houses are becoming cheaper again in many major cities. The reason is higher borrowing costs for investors and homeowners. But this is not necessarily good news for renters. For a long time, real estate prices in many major German cities seemed to know only one direction: […]

The Money of The Upstarts

01.08.2023 The BRICS countries want to create their own currency to end the hegemony of the U.S. dollar. China holds a dominant position in the alliance. In August, after several more or less concrete announcements since 2012, the time has finally come: At its upcoming summit in South Africa, the expanding group of BRICS countries […]

The Multipolar Debt Crisis

Tomasz Konicz, Originally published in jungle world on 06/01/2023 More and more countries in Latin America, Africa and Asia are over-indebted or even facing bankruptcy. As a lender, China is also affected by this crisis and has had to grant emergency loans to protect its own banks from payment defaults. The interest rate hikes by […]

New Old World Order?

22.06.2023, Tomasz KoniczCan state-capitalist China inherit the United States’ position as global hegemon? If the Russian-Chinese summit declarations and Western assessments are to be believed, the 21st century will be defined as an era of Chinese hegemony. At their Moscow war summit in mid-March, Putin and Xi advocated a “just multipolar world order” that would […]

Keynesianism in Crisis

Tomasz Konicz, 17.06.2023. Originally published on in 02/2023While many elements of Keynesian economic policy are used in the day-to-day crisis, post-Keynesianism is running wild as an ideology on the German left. Whether they are stock-conservative market disciples[1] or staid social-democratic trade unionists,[2] in times of crisis, they are all Keynesians. In every crisis episode […]

Silicon Valley Bank: The Weakest Link

The current turmoil in the financial sphere is only the latest chapter in the late capitalist systemic crisis. Tomasz Konicz, 17.06.2023. Originally published on on 03/20/2023 Here’s to a new one? The collapse of the IT industry’s house bank, California’s Silicon Valley Bank (SVB),[1] seems at first glance to herald a new financial crisis, […]

Radicalism vs. Extremism, 19.03,2023 Some reflections on the anti-fascist transformation struggle in the manifest systemic crisis. “It is indeed my opinion now that evil is never “radical,” that it is only extreme, and that it possesses neither depth nor any demonic dimension. It can overgrow and lay waste the whole world precisely because it spreads like a […]

China: Multiple Crises Instead of Hegemony

Why the state-capitalist People’s Republic will not be able to succeed the USA as a hegemonic power, 19.03.2023 Launched in 2013, the New Silk Road, Beijing’s ambitious investment program in developing and emerging countries, was supposed to usher in an era of Chinese hegemony and make the 21st century a Chinese century – after […]

Emancipation in Crisis, 23.02.2023In the unfolding systemic crisis, a renewed plunge into barbarism seems preordained. But this need not be the case. Communism is for us not a state of affairs which is to be established, an ideal to which reality [will] have to adjust itself. We call communism the real movement which abolishes the present state […]

The Alternative Imperialists

January 23, 2023 It is becoming increasingly clear that the capitalist catastrophe is looming. The left should fight for an emancipatory outcome. Even before all the ideology, megalomania, and opportunism emerged, many left-wing contributions to the debate on Ukraine suffered from a fundamental logical misconception. Much has been written that assumes an easy way out […]

The Subjectless Rule of Capital

JANUARY 23, 2023, Tomasz Konicz Who is to blame for the increasing contradictions and distortions of late capitalist societies – and what can be done about it?Who are the rulers in capitalism? Preliminary observations seem to confirm what is, for the most part, the core principle of leftist ideology or theory: it is the capitalist […]

Kiev’s missed opportunity?, 01/19/2023 By Tomasz Konicz A new turning point looms in the war over Ukraine – and further escalation with incalculable consequences In retrospect, the recapture of the southern Ukrainian city of Kherson by the Ukrainian army in November 2022, is likely to be identified as the irretrievably lost moment when optimal conditions for serious […]

The Walking Debt

Tomasz Konicz, January 3, 2023Over-indebtedness, inflation, the threat of recession and impotent politicians: the current wave of crises is likely to take full hold even in the western centers of the capitalist world system New decade, new crisis? In mid-June, the European currency area, which had already been on the verge of collapse in the […]

Armenian Blood for Azerbaijani Natural Gas

Tomasz Konicz. January 4, 2023 Poor, surrounded by enemies, without allies: Armenia finds itself in a desperate geopolitical situation, as Azerbaijan’s renewed attack shows The timing of the large-scale attack launched in the evening hours of September 12 was perfect. At the same time that Russia’s army was suffering its biggest defeat since the implosion […]

Turning Point in Ukraine?

January 4, 2023 A military disaster looms for Russia’s army in northeastern Ukraine There is movement in the war in the east – and it is the Ukrainian army that has apparently been able to seize the momentum. While the Western public, to the extent that it still follows the war in Ukraine, which has […]

The Necessary Break

Tomasz Konicz, 12.08.2022 The Climate Movement Needs Anti-Capitalist Guardrails for Its Coming Actions The climate movement should not be afraid of being accused of radicalism. Given the civilization-threatening dimensions of the climate crisis, solving this monstrous problem is a matter of sheer collective will to survive. It is obvious that global capitalism, in its unbridled […]

Embrace the Chaos

26.07.2022, Tomasz Konicz The cruel lobbying and business practices of the app-based ­transport service ­Uber are in line with its brutal business model. And they are an expression of the processes of barbarism in the ­centers ­caused by the crisis. Some 124,000 internal documents comprise the so-called Uber Files, leaked to the press by Mark […]

Glory and an Ear of Corn

Tomasz Konicz, Originally published in konkret in 07/2022 The fact that parts of the world are facing a devastating famine cannot be attributed solely to the consequences of the Ukraine war. Putin did it! This exclamation, which the Kremlin ruler’s auburn-haired German fan base likes to use with a wink to ridicule any criticism of […]

Mountains of Debt on The Move

22.07.2021, Tomasz KoniczThe wonderful world of bond markets – currently far more exciting than many functionaries in the state and financial sector might like. Dull, dreary, mind-numbing – these are usually the words used to describe the bond markets of the core of the world system. When capital needs to be parked safely, when pension […]

No More Trade Surplus

21.07.2022, Tomasz KoniczFor the first time in over 30 years, Germany recorded a negative trade balance. The export-fixated German economic model is facing a crisis. “Export world champion” is now a thing of the past: in May, the German trade balance recorded a deficit for the first time since 1991, albeit only to the tune […]

Elections with Reservations?

13.07.2022, Tomasz KoniczThe Republican-hijacked US judiciary is on the road to post-democracy. The smartphone is the best weapon against widespread police violence in the United States. The police killing of George Floyd,[1] which led to mass protests across the country in May of 2020 and reignited the Black Lives Matter movement, would not have been […]

A New Quality of Crisis

24.05.2022, Tomasz Konicz Why There Will Be No Stable Post-War Order After the End of The War Over Ukraine Is this the big one? Is this the big crash that will overturn everything that has been established in global structures and dynamics since the breakthrough of neoliberalism in the 1980s? The war over Ukraine could […]

The Deadly Logics Of Capital In The Vicious Economic-Ecological Cycle, 22.06.2022 The economic and ecological crises of capital have long been intertwined. This can be seen not least in the heat-induced mass deaths among poor and vulnerable sections of the population – and not only in the Global South, as Tomasz Konicz argues in his contribution to the BG text series “After Extractivism.” Link: […]

The Climate Crisis and the Outer Limits of Capital, 14.01.2022 Why does capitalism fail to implement sustainable climate policies despite the escalating ecological crisis? For three decades, policymakers have promised to address the climate crisis. For three decades, global emissions of greenhouse gases have continued to climb, giving rise to the suspicion that the capitalist world system is incapable of reducing CO2 emissions […]

Back to stagflation?

znet, 29.12.2021 The end of the financialization of capitalism looks confusingly similar to the beginning. In recent weeks, a great retro fever has broken out in the business press. In the face of rapidly rising inflation and a mixed economic outlook, memories of the stagflation period in the 1970s are increasingly being evoked,1 when anemic […]

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