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28 January 2009
Era of illusions in capitalism ending
Editorial: So the economy is now officially in recession. No great surprise, as most people feel they have been suffering recession-like conditions for six months already...
21 January 2009
Capitalism kills, concludes study of privatisation era
Russia and Eastern Europe in the 1990s: "SHOCK THERAPY sell-offs blamed for one million deaths" was the stunning headline in the Financial Times of 15 January, writes Clare Doyle.
13 January 2009
British economy heads deeper into crisis
The Socialist Editorial: Gordon Brown promised that New Labour would end the cycle of 'boom and bust'. He claimed that his government is a "rock of stability". Yet the government is being battered by forces of economic recession which become stronger every week...
7 January 2009
2009 - putting socialism back on the agenda
"GOODBYE AND good riddance to all that," declared the Financial Times, the big business mouthpiece, as it said farewell to 2008, writes Peter Taaffe, Socialist Party general secretary.
3 December 2008
Crisis-hit capitalism fears prospect of revolution
CWI International Executive Committee 2008: THE INTERNATIONAL Executive Committee (IEC) of the Committee for a Workers' International (CWI) met in Belgium on 23-29 November. Hannah Sell gives a summary of Peter Taaffe's introduction to the session on the global economic crisis and its political consequences with highlights from the discussion.
25 November 2008
Alistair Darling's pre Budget Report: Pain now, pay later
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Alistair Darling - learning about capitalism? cartoon by Suz |
12 November 2008
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...
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.
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.
2 October 2008
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.
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...
2 September 2008
'Them and us' economy hits the rocks
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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.
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.
16 July 2008
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Dow Jones plunges |
16 July 2008
Feature: Price inflation - the sickness of capitalism
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Bubbles: The cover of Socialism Today, May 2007, anticipated the crash. Cartoon by Suz |
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.
8 July 2008
UK economy sliding into recession
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Cost of living - from CNWP leaflet |
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.
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.
4 June 2008
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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)
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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