FINANCE MINISTERS from the seven largest economies in the world met recently to debate how to revive the sick world economy. However, there was little agreement on how to revive the patient.

"The credit system appears as the main lever of overproduction and over speculation in commerce solely because the process of reproduction, which is elastic in its nature, is here forced to its extreme limits.

THE US, the most powerful economy in the world, responsible for a third of world output, is reeling with shock. This time there are no foreign terrorists who can be held responsible for disaster striking. It is capitalism itself that is responsible.

Summer is usually a period when "not much happens", at least in Europe. But this Summer is like the calm before the storm. The mass demonstration in Genoa and the last general strike in Argentina are indications of the tumultuous years ahead.

"Consider the big picture: an east Asia of toppling currencies and bank insolvency: rising unemployment in Latin America’s largest economy (Brazil) and falling real wages throughout the region: stagnation and unemployment in Europe: a rapidly approaching limit to the capacity of US consumers to take on more...

Committee for a workers' International publications

p128

p248 01

p304 02

imgFooter1