The coronavirus pandemic is shutting down society and paralyzing production around the world. The global capitalist system is facing an existential crisis, with a slump that is affecting all countries simultaneously.
The following statement by the International Marxist Tendency explains how capitalism has utterly failed to deal with the coronavirus crisis, and is putting the lives of millions of people at risk.
The global airline industry is on its knees, facing an unprecedented crisis. It is no exaggeration to say that this could be worse than 9/11 and the 2008 slump combined.
The COVID-19 pandemic has plunged American society into panic. With confirmed cases and the death toll rising by the hour, capitalism has already proved incapable of dealing with this crisis.
The new coronavirus has set in motion a chain reaction, which is upending any semblance of stability in one country after another. All of the contradictions of the capitalist system are coming crashing to the […]
We publish a statement by the Russian section of the IMT about the impending economic crisis resulting from Russia’s failed oil deal with Saudi Arabia.
In recent years, private funding has driven the concentration of speculative capital to new heights. WeWork’s failed IPO sent shockwaves through the venture capitalist ecosystem.
The coronavirus has become the catalyst for a crash on the stock markets, with drastic slumps everywhere on “Black Monday.” The epidemic has exposed the deep sickness in the capitalist system.
The coronavirus outbreak triggered the biggest wave of stock market losses since 2008. Markets are worried that the virus will have a serious impact on an already weak world economy.
The contradictory impasse of capitalism has led to skyrocketing housing costs and homelessness—while at the same time, millions of homes stand empty.
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.
The class struggle within Uber is rippling through global markets. We analyze here the dynamics and repercussions of the so-called sharing economy.
