Recent data has caused alarm amongst the ruling class, suggesting that inflation has become entrenched. In response, central bankers are looking to provoke a slump in the hope of quelling price rises.
The global elites gathered in Davos last week to discuss the fate and future of capitalism. With the world economy wracked by inflation and instability, a mood of pessimism prevailed.
It is clear that we have entered a new chapter in the crisis of world capitalism, which the strategists of capital themselves are at a loss to explain.
After a month of market mayhem, the capitalist class has killed off Liz Truss’ reckless economic agenda. But they and their system can only offer further attacks.
The “cost-of-living” crisis is not an isolated problem that can be solved through a patchwork of piecemeal reforms. It is another symptom of a sick system; the latest chapter in the ongoing crisis of capitalism.
Defenders of the free market look towards libertarians—and their assertion of an “economic calculation problem”—in order to attack socialism. But in truth, Marxists answered these reactionary arguments long ago.
The 2008 crash and coronavirus crisis have revived interest in the theories of liberal English economist Keynes—but his life and ideas show that he was no friend of the working class. We need socialism, not […]
Governments spent the last year propping up the capitalist system with unprecedented state support. These desperate measures have built dynamite into the foundations of the world economy—which is now set to explode.
The capitalists are eager for the COVID-19 crisis to come to an end, and many anticipate a rapid economic bounceback. But the new normal will be one of crisis, chaos, and class struggle.
Governments everywhere are pumping money into the world economy to keep it on life support. Followers of Keynesian ideas—of government stimulus and demand-side management—feel vindicated. But only Marxism offers a solution.
The coronavirus pandemic has exposed the underlying contradictions of capitalism, triggering a deep crisis on the scale of the 1930s. There will be no rebound after the lockdown ends, but a prolonged economic depression.
The out-of-touch elite are meeting in Davos this week for their annual exclusive shindig. But the mood amongst the superrich will be gloomy, with their liberal world order facing threats on all fronts.
