Portside

Russian President Vladimir Putin has signed a law ratifying the deal establishing the BRICS New Development Bank (NDB). It's hoped the new bank will stamp the growing influence of the BRICS. The NDB is expected to become one of the world's key institutions. The money will be used to finance development projects in the emerging economies.

Men now outnumber women on the planet by 60 million, the highest ever recorded. Preference for sons in India and China is driving the trend, but those two countries are not the only ones struggling with an imbalanced population.

These are the first two parts of a four-part interview with Costas Lapavitsas focusing on the Era of Financialization and the transformations at the “molecular” level of capitalism that are driving changes in economic performance and policy in both high-income and developing countries. Lapavitsas is a professor of economics at SOAS, University of London, and the author of Financialised Capitalism: Expansion and Crisis (Maia Ediciones, 2009)

I see us entering a world divided not just between the haves and have-nots, but also between those countries that do nothing about it, and those that do . . . I’ve visited societies that seem to have chosen this path. They are not places in which most of us would want to live, whether in their cloistered enclaves or their desperate shantytowns.