Post-Crisis Belarus: Marxism and the Lender of Last Resort

Existing literature has examined the predictions and proscriptions of Karl Marx in response to the 2008 global financial crisis. However, the suggestions put forth by the Marxist-leaning literature never took hold and state-level banking and finance policies have remained largely unchanged. While many criticisms of Marxism exist, this paper examines Belarus, a ‘neo-communist’ or ‘market-socialist’ state, to provide a new perspective on the continuation of capitalism in the United States and Europe. In the case of Belarus, the International Monetary Fund and the Eurasian Economic Community's Anti-Crisis Fund provided both the critical liquidity needed to temporarily quell the effects of the financial crisis. Their demands meant that Belarus agreed to speed its move away from the Soviet-era finance and banking policies and more towards its western capitalist neighbors. Its failure to implement these policies further hurt its recovery. Examining Belarus' path to and out of its financial crisis makes apparent that the role of the international lender of last resort (LOLR). The LOLR acts as a key element in protecting states embroiled in the financial crisis from facing the possibility of making the difficult policy changes put forth by the Marxist literature. By ignoring its promises under the loan conditions from its LOLRs, Belarus moved further from the recovery promised by the Marxist suggestions.

A Crisis in Physics Education: Games to the Rescue!

An education in Physics develops both strong cognitive and practical skills. These are well-matched to the needs of employers, from engineering to banking. Physics provides the foundation for all engineering and scientific disciplines including computing technologies, aerospace, communication, and also biosciences and medicine. In academe, Physics addresses fundamental questions about the universe, the nature of reality, and of the complex socio-economic systems comprising our daily lives. Yet today, there are emerging concerns about Physics education: Secondary school interest in Physics is falling, as is the number of Physics school teachers. There is clearly a crisis in physics education; recent research has identified principal factors. Starting from a review of these factors, and from recommendations of professional bodies, this paper proposes a novel solution – the use of Computer Games to teach physics to school children, to university undergraduates and to teacher-trainees.