We and the EU must show the Russian leader we mean business and seize $300bn of his country’s central bank funds

Vladimir Putin is digging deep to win the war with Ukraine. And it could be only months before the tide turns in his favour. If he pummels Ukraine into submission, a military victory will quickly become a wider economic disaster, which is why we under­estimate at our peril how much we need to focus on the war.

The Russian leader, who was inaugurated for a fifth term as president a fortnight ago, ditched his old friend and defence minister Sergei Shoigu on Monday in favour of an economist to make sure Moscow’s war machine runs more efficiently. That economist, Andrei Belousov, has been likened to Albert Speer, the architect who served as the minister of armaments and war production in Nazi Germany.

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© Photograph: RUSSIAN PRESIDENTIAL PRESS OFFICE/AFP/Getty Images

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© Photograph: RUSSIAN PRESIDENTIAL PRESS OFFICE/AFP/Getty Images

Podcast (2:42:24) with transcript. Christopher Brown is a professor at Columbia specializing in the slave trade and abolition. He argues that abolition, though obvious in retrospect, was not inevitable and relied on a particular set of circumstances that could have been disrupted at many points. He has also written about Arming Slaves and has an interesting review of Capitalism and Slavery at LRB.

A 1C increase in global temperature leads to a 12% decline in world gross domestic product, researchers have found

The economic damage wrought by climate change is six times worse than previously thought, with global heating set to shrink wealth at a rate consistent with the level of financial losses of a continuing permanent war, research has found.

A 1C increase in global temperature leads to a 12% decline in world gross domestic product (GDP), the researchers found, a far higher estimate than that of previous analyses. The world has already warmed by more than 1C (1.8F) since pre-industrial times and many climate scientists predict a 3C (5.4F) rise will occur by the end of this century due to the ongoing burning of fossil fuels, a scenario that the new working paper, yet to be peer-reviewed, states will come with an enormous economic cost.

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© Photograph: Spyros Bakalis/AFP/Getty Images

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© Photograph: Spyros Bakalis/AFP/Getty Images

Last week, General Motors announced that it would end production of the Chevrolet Malibu, which the company first introduced in 1964. Although not exactly a head turner (the Malibu was "so uncool, it was cool," declared the New York Times), the sedan has become an American fixture, even an icon [...] Over the past 60 years, GM produced some 10 million of them. With a price starting at a (relatively) affordable $25,100, Malibu sales exceeded 130,000 vehicles last year, a 13% annual increase and enough to rank as the #3 Chevy model [...] Still, that wasn't enough to keep the car off GM's chopping block. [...] In that regard, it will have plenty of company. Ford stopped producing sedans for the U.S. market in 2018. And it was Sergio Marchionne, the former head of Stellantis, who triggered the headlong retreat in 2016 when he declared that Dodge and Chrysler would stop making sedans. [...] As recently as 2009, U.S. passenger cars [...] outsold light trucks (SUVs, pickups, and minivans), but today they're less then 20% of new car purchases. The death of the Malibu is confirmation, if anyone still needs it, that the Big Three are done building sedans. That decision is bad news for road users, the environment, and budget-conscious consumers—and it may ultimately come around to bite Detroit.

Detroit Killed the Sedan. We May All Live to Regret It [Fast Company]

All these right-wing thinkers are much more comfortable thinking about the blurred lines between sexual and economic politics than many thinkers on the left. And they understand that Keynesianism rests on a certain kind of sexual contract. Any challenge to this order—whether it be an escalation of wage or benefit claims, or the flight from sexual normativity, or unmarried women claiming welfare benefits—disrupts the fiscal and monetary calculus on which Keynesianism rests. Public spending becomes profligate, debt burdens become intolerable, inflation spirals out of control. All of which is to say that the state is subsidizing marginal lives more than it is subsidizing capital. from Extravagances of Neoliberalism, a conversation with Melinda Cooper [The Baffler; ungated]