2018 marked ten years since the collapse of Lehman Brothers bank which plunged the world economy into the deepest economic recession since the 1930s. The financial virus spread quickly, causing production and trade to seize […]
Tories torn apart, French workers and youth in revolt, ‘populism’ on the rise … revolution in the air?
The underlying crisis of world capitalism has, as we predicted, significantly deteriorated in the year. In the decisive sphere of the world economy a new crisis looms, the timing and character of which are not […]
No-deal Brexit, establishment splits, threat of renewed downturn…
The socialist answer to capitalist crisis
“How things have changed,” declared US-based scholar Minxin Pei. Pei was referring to the problems now confronting China’s strongman, Xi Jinping, who suddenly doesn’t look quite as strong any more. Pei is among a horde […]
Mariana Mazzucato’s new book is a detailed exposé of the parasitic character of modern capitalism, drawing on Karl Marx’s theory of the source of value creation. But understanding the law of value is only a […]
G7 failure, penalty tariffs reflect capitalist world disorder
All is not well with capitalism. Economic jitters parallel political volatility. Stock market highs in December turned to mass share sell-offs in February. Colossal personal and governmental debt stalks the system, limiting the capitalists’ room […]
The IMF in its latest prognosis praises what it sees as a stable growth of the world economy. Yes, there are some risks the IMF says, not least the political ones. But the crisis has […]
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