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25 November 2008

Alistair Darling's pre Budget Report: Pain now, pay later

Alistair Darling reads the beginners guide to the economy, cartoon by Suz

Alistair Darling - learning about capitalism? cartoon by Suz

The government's Pre Budget Report (PBR), presented by Alistair Darling, the Chancellor of the Exchequer, marks a new stage in the developing economic crisis by proposing to inject 20 billion of public money into the economy partly through tax cuts to try and minimise the effects of the recession...

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12 November 2008

Defend workers' jobs and pay

Economy in recession: "Buy one car, get one free", was the desperate offer of a Colchester car sales broker. Nationally, car sales have fallen to a level not seen since 1966. And now falling consumer spending and the credit...

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22 October 2008

Iceland: A victim of the casino economy

ITS THREE main banks have collapsed and the currency has effectively ceased trading. And with debts totalling ten times the national income of the country, an Icelandic delegation went cap in hand to Moscow. Per-Ake Westerlund (Rattvisepartiet Socialisterna - CWI in Sweden) reports.

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15 October 2008

Sack the bankers not the workers

The proposed takeover of HBOS by Lloyds TSB will result in anything from 20,000 to 40,000 jobs being cut, writes a Cheltenham and Gloucester bank worker.

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2 October 2008

Market madness!

Profit system failing: The world economy, already in turmoil from the credit crunch, was swept further into an abyss by the thunderbolt news that the US congress had rejected a 'blank cheque' $700 billion bailout of failing banks, writes Judy Beishon, editor, The Socialist.

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29 September 2008

The great implosion: Capitalist finance system nears meltdown

Editorial, Socialism Today, October 2008: Over recent years, we have often been accused of being 'catastrophists'. This is because we predicted that the debt-driven bubble economy, dominated by high-profit, high-risk finance capitalism, would...

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2 September 2008

'Them and us' economy hits the rocks

PCS Passport workers on strike in Belfast, photo Peter Hadden

Major struggles are inevitable - trade union action needed to protect our future. Picture: PCS Passport workers on strike in Belfast, photo Peter Hadden

"The economic times we are facing are arguably the worst they've been in 60 years", blurted out chancellor Alistair Darling in an unguarded moment on his summer holiday, writes Dave Reid.

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13 August 2008

CWI Summer School 2008: Capitalism at a crucial turning point in its history

Tony Saunois, secretary of the Committee for a Workers' International (CWI), opened the CWI international summer school by firmly underlining the changes being brought in by the new economic crisis of capitalism and the importance of workers' struggles which will emerge, writes Alison Hill.

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16 July 2008

Global finance crisis deepens

Dow Jones plunges

Dow Jones plunges

US banking bailout: THE REAL rate of inflation that workers in Britain face has hit 18.5%, according to the Daily Mirror, as the cost of food, fuel and household bills continue to rocket. Simultaneously with prices spiralling upwards, the economy is entering recession, writes Hannah Sell.

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16 July 2008

Feature: Price inflation - the sickness of capitalism

Bubbles: The cover of Socialism Today, May 2007, anticipated the crash. Cartoon by Suz

Bubbles: The cover of Socialism Today, May 2007, anticipated the crash. Cartoon by Suz

THE PRICES of food and fuel are soaring, as are household gas and electricity bills.
The main cause is the explosion of world oil, food and other commodity prices.
Yet Brown, Darling and other New Labour ministers are calling for "pay restraint"! But why should workers pay for inflation?
Lynn Walsh looks at the causes and consequences of this sickness of free market capitalism.

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8 July 2008

UK economy sliding into recession

Cost of living - from CNWP leaflet

Cost of living - from CNWP leaflet

THERE HAS been a raft of economic data in recent weeks showing the continuing decline in the UK and world economy but Alistair Darling says there is nothing to worry about, writes Jane James.

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25 June 2008

Review: False 'gods' of a failing system

Feature: According to the ancient Greeks: "Those whom the gods wish to destroy they first make mad." Peter Taaffe reviews 'The Gods That Failed: How Blind Faith in Markets Has Cost Us Our Future', drawing out the value and limitations of a devastating critique of 'modern' capitalism.

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11 June 2008

Oil price shock - the chaos of capitalism

Years of frenzied speculation on commodity markets: We have been hit by a tsunami of energy price rises. A flood of speculative activity in oil markets has produced a huge bubble that will inevitably collapse in coming months. Lynn Walsh investigates.

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4 June 2008

Engels: A Revolutionary Life

Freidrich Engels

Freidrich Engels

The ideas of the Socialist Party, based on scientific socialism, are identified with Karl Marx and 'Marxism', but Friedrich Engels deserves to be bracketed alongside the great 'philosopher of the millennium'. Peter Taaffe reveiws Engels: A Revolutionary Life, by John Green. (Artery Publications, London 2008)

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20 May 2008

Force more u-turns out of this weak government

Editorial from The Socialist 21 May 2008: A YouGov opinion poll has put New Labour on 23%, their lowest share of support since polling began in the 1930s...

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16 April 2008

Housing crisis: Britain's house of cards

AS THE US economy moves sharply downwards, the threat of a crash in the British housing market is becoming ever more real, writes Marc Glasscoe, Socialist Party Lincoln.

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25 March 2008

World events and their repercussions

Two extracts from a summary of the present world situation and world relations, written by Peter Taaffe for a meeting taking place this month of representatives from European sections of the Committee for a Workers' International...

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19 March 2008

Darling's 'more of the same' budget

Editorial: "The most wrenching since the end of the second world war" is how Alan Greenspan, ex-head of the US Federal Reserve, described the current crisis engulfing the US economy...

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19 March 2008

Building a campaigning, fighting socialist party

Informed by discussions on likely political developments, worldwide and in Britain, the Socialist Party congress also examined what these mean for us organisationally in the session on 'building the Socialist party', writes Paula Mitchell, London Socialist Party secretary

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19 March 2008

Socialist Party 2008 congress

Delegates and visitors from Socialist Party branches across England and Wales met in London on 8-10 March, for the Socialist Party's annual congress. Reports on main sessions.

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