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Pope Francis: Global economy ‘sacrifices man at the feet of the idol of money’

Pope says global economy discards young (via AFP) Pope Francis launched a sweeping attack on the world’s economic system in an interview released Friday, saying it discards the young, puts money ahead of people and survives on the profits of war. The 77-year-old leader of the world’s 1.2 billion Roman……

Thomas Piketty’s big flaw? Capitalism isn’t the same the world over

By William Q Judge, Old Dominion University; J Lee Brown III, Fayetteville State University, and Stav Fainshmidt, Florida International University Everyone is talking about inequality and capitalism nowadays. That’s great, but before we all jump on the bandwagon to “fix” capitalism, let’s talk about which capitalism(s) we wish to fix…

IMF chief: Raising U.S. debt limit crucial for global economy

International Monetary Fund chief Christine Lagarde warned Thursday that a US failure to raise the debt ceiling, which could lead to default, could wreak havoc on the global economy. “The ongoing political uncertainty over the budget and the debt ceiling does not help,” Lagarde said in a speech in Washington,…

Geithner hopeful for renewed drop in U.S. jobless rate

NEW YORK — US Treasury Secretary Tim Geithner said on Sunday said that US unemployment numbers, which stalled earlier this month, could resume their decline ahead of November’s election in which the economy will top voters’ concerns. “If the economy keeps growing at a moderate pace, then, yes, more people…

Global economy shows ‘fragile’ improvement: IMF

Recent improvements in the global economy are “very fragile” and an escalation of the eurozone crisis remains the most immediate concern, IMF deputy managing director Naoyuki Shinohara said Tuesday. While indicators had last year pointed to a big setback for the world there have in recent weeks been modest signs…

IMF chief cautiously upbeat on global economy

IMF chief Christine Lagarde said measures taken to fight financial woes in Europe and the United States were starting to pay off, in a cautiously upbeat assessment of the global economy. Lagarde was in Beijing for a two-day trip to attend a forum on China’s development and hold meetings with…

IMF seeks $500 bn more as euro crisis rages

The International Monetary Fund said Wednesday it needs up to $500 billion more to pad its war chest as the European debt crisisincreasingly threatens the global economy. With several European countries veering on recession and Greece on the brink of default, the IMF said it lacks the resources to be the planet’s lender…

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