The capitalist system has thoroughly exhausted its potential and threatens to take us down with it.
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.
The ruling class is in turmoil, fearful of a social, political, and economic “permacrisis.” The only way out: implacable class independence and struggle as we build a disciplined force that can ensure the victory of […]
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.
Workers’ control is the first step along the road to socialist planning based on the nationalization of the commanding heights of the economy.
Alan Woods’ editorial on Marxist economics from the Winter 2022 issue of In Defence of Marxism, the theoretical journal of the IMT.
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 chaos of monopoly capitalism can only be solved by bringing the giant monopolies under workers’ control and ownership—not through greater regulation or by “breaking them up.”
In the midst of the pandemic, speculative investments continue. The latest celebrity-driven fads, NFTs and SPACs, are among the most insane expressions of this.
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.
What would workers’ control of industry look like, and why is nationalization and democratic central planning of the key levers of the economy so important?
