For millions of workers, there are bitter memories of the depths of the cost-of-living crisis. For many, it never ended. And so projections for a new round of inflation coming down the track will be […]
At the beginning of this year, the world economy seemed to develop in a promising direction, according to some analysists. The IMF revised its forecast from October 2025 upwards and cited a “resilient growth”. However, […]
The escalating trade conflict between the United States and China is not simply a dispute between politicians or the result of misguided policies from the White House. It reflects deep strains inside global capitalism itself. […]
On Friday, the 9th January 2026 a majority of representatives of the EU-countries finally agreed to a treaty with Mercosur, the Southern Common Market, a South American economic bloc. It seems that 25 years after […]
“As things stand, there are enough bubbles that are set to burst within a year. When they do burst they will cause significant economic disruption. The fallout won’t lead to a 1929-style crisis, and it […]
Originally published in Socialism Today No. 286, magazine of the Socialist Party (CWI England & Wales) Chinese company DeepSeek launched its generative AI ‘r1 model’ in January. Run and primarily funded by Liang Wenfeng, a […]
James Carville, the political advisor who coined the phrase ‘it’s the economy stupid’ as a campaigning slogan for Democrat Bill Clinton to win the 1992 presidential election, was once asked what he’d like to be […]
Trump’s 2nd April “Liberation Day” speech was a turning point, as it launched an open offensive to break capitalist globalisation in its current form. This was not, as Trump falsely claims, in the interests of US […]
Trump is back in the White House. Much of the world is gripped by fear about what his second term will mean, as are millions in America – particularly migrants, LGBTQ+ people, and others likely […]
Originally published in Socialism Today, magazine of the Socialist Party (CWI England & Wales). This year is the thirtieth birthday of the World Trade Organisation (WTO). It is also the year China opened a WTO […]
Tech company Meta, owner of Facebook, Instagram, and Whatsapp, reported that it will pay $1.25 billion in dividends to its shareholders every quarter. Facebook founder Mark Zuckerberg, who has about 350 million shares, will get […]
On 27 October, 130 engineers at Tesla workshops in Sweden began strike action against the car giant. They have been demanding Tesla recognises their union IF Metall and negotiates a collective bargaining agreement. Striking workers […]
Minor infections often turned lethal until the mid-twentieth century. Now this threat could return, as micro-organisms become more resistant to antibiotics, antifungals, antiparasites and other antimicrobial compounds. “All of modern medicine is upheld by our […]
The extremely right-wing Modi-led BJP government has completed nine years in power, with elections scheduled next year. At this juncture, when we draw political perspectives, we need to assess the processes that have been unfolding […]
“We understand better now how little we understand about inflation,”[i] commented Jerome Powell, Chair of the US Federal Reserve (the Fed), when inflation reached its highest level since the late 1970s in 2022. At the […]
The new lease of life that world capitalism experienced after the collapse of the Stalinist states of Russia and Eastern Europe from the late 1980s has definitively run its course. Whatever the immediate perspectives are […]
As the cost-of-living crisis continues in Britain – with 30-year high inflation and the effects of over ten years of austerity that have decimated our public services – a growing number of people are beginning […]
‘Silent Coup – how corporations overthrew democracy’ is a devastating critique of the power and control wielded by major conglomerates and the secretive institutions and global legal systems they have built up over decades. They […]
Trade Unions’ Federation Must Provide Platform for United Actions against IMF’s Dictated Attacks and High Cost of Living. Ghana is in a serious debt crisis. The country defaulted on its external debts in December 2022 […]
The ongoing tensions between the United States and China have continued to escalate as the global economic crisis deepens. While the US economy is still the most powerful in the world, its dominance is being […]
Bold socialist policies more urgent than ever! The global and multi-faceted crisis of capitalism has entered a new phase with the turmoil in the financial markets and the collapse of banks in the US and […]
Many bourgeois economists have tended to put a gloss on the deep systemic crisis facing world capitalism. They have often seized upon this or that marginal piece of “good” news to empirically conclude that this […]
In 2022, the world’s population hit the landmark figure of eight billion. How can the world support this growing number of people? Is overpopulation a challenge to be overcome, or does the problem lie elsewhere? […]
The following document was presented to and agreed by the International Executive Committee of the CWI, which held a meeting from 23-27 January 2023. Introduction. Not Like Other Crises. Tsunami of a Debt Crises. Amazon […]
“Liz Truss resigns after failed budget and market turmoil”; “more than 40% of mortgages withdrawn as market reels after mini-budget”; “Sunak says higher taxes and spending cuts needed to satisfy markets”. For a period of […]
Nobody should go hungry. But in Britain, in 2022, well over two million people rely on food banks and food-sharing apps like ‘Olio’ to feed themselves and their families. The current economic crisis is seeing […]
We live in a world where historically undreamt-of wealth exists, where technology has been developed in a way that was only envisaged in science fiction, where enough food, shelter and the basics of life could […]
On 9 April 1992, the Conservative Party won a general election with a record-breaking 14 million votes. On 2 May 1997, it lost the next general election, with its standing shattered by the events that […]
With the rise of protest movements around climate change in recent years, an increasing spotlight has been shone on the question of food production and distribution. On one hand, global food production is estimated to […]
Across the United States, many Americans are increasingly concerned about affordable housing availability within their local communities. According to a Pew Research Center survey from 2021, roughly 50 percent of Americans have said that affordable […]
More food is being produced than ever before, yet world hunger has been rising since 2015 and is now back to its 2005 level of 811 million malnourished people. Nobody should go hungry. But capitalism […]
Cryptocurrencies have been hailed as innovative and ground-breaking assets that can have a transformative effect on the world economy. In the second article in our series ‘busting economic myths’, Socialist Party (CWI England & Wales) […]
As we head towards double-digit inflation, the Tory government in Britain is trying to offload blame for the huge price rises in fuel and gas by pointing to the price shock that has taken place […]
“We were already having problems with food prices… What countries are doing now is exacerbating that, and the war is putting us in a situation where we could easily fall into a food crisis,” said […]
The ‘Inequality Kills’ report by Oxfam shines a light on the horrific poverty conditions experienced by billions around the world. It has been further exacerbated during the Covid pandemic – 99% of the world’s population […]
The recent acute shortages of energy, goods, and labour in some sectors in the UK stem in large part from UK-specific capitalist failings. But the volatile world situation is part of the background to those […]
In the wake of the Covid-19 pandemic, with fears of rising unemployment as the furlough scheme is wound up, and the full extent of the economic scarring from the pandemic is revealed, there are also […]
Across the globe, at least 2.4 million people have now died from contracting Covid-19. Livelihoods have been wrecked and economies have crashed, with the world economy shrinking by over 4% and the UK suffering a […]
For over a year, the Covid-19 pandemic has wreaked havoc across the globe, causing over two million deaths and unleashing enormous economic and social crises. 2021 has ushered in new lockdowns in the UK, Germany […]
Around £320 billion is lost annually to corporate tax abuse and private tax evasion, the equivalent of nearly 34 million nurses’ salaries, according to the Tax Justice Network. Poorer countries are most affected, with tax […]
A decade ago, following the worldwide financial crash, a Financial Times editorial congratulated capitalism on a bit of luck that “the left” was “missing in action in what should have been its finest hour. In […]
The intimate connections between organised crime, high finance, and the capitalist state have been exposed. Documents leaked from the US Financial Crimes Enforcement Network (FinCEN) detail over $2 trillion of suspect transactions over two decades. […]
Few could have imagined when the Tories won the 2019 general election in Britain that five months later they would be carrying through measures of state intervention beyond the scale even of Jeremy Corbyn’s Labour […]
Statement from International Secretariat of the CWI 23 March 2020 The outbreak of the coronavirus pandemic has plunged world capitalism and society into an entirely new era of turmoil and upheaval. In country after country, […]
As global markets reel in the face of the developing coronavirus pandemic, it is difficult to see how these events will not be the trigger for a new world capitalist economic downturn, with all the […]
British Prime Minister, Boris Johnson, won the general election, last December, by trying to pose as a ‘man of the people’. Despite the rhetoric the first budget of his premiership showed clearly that, like all […]
The biggest one-day fall in stock markets since the financial crisis; an oil price war between Saudi Arabia and Russia; and the fastest drop in the cost of oil for 30 years. The impact of […]
To meet an ever-growing questioning of capitalism since the crisis of 2007-08, the system’s defenders look to theoretically justify its continued rule. The latest effort is by the renowned former World Bank economist, Branko Milanović, […]
The deep crises in the world economy and political establishments are not only reflected in attempts to resurrect Keynesian-style policies. Other capitalist economists are proposing that an even harsher neoliberal model should be applied – […]
Brutal neoliberal policies and austerity has created growing mass anger. The growth in Trump-style populism is one consequence of this, as is an increased interest in ‘New Deal’ style reforms. A recent book contrasts different […]
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