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Economy

Stock market meltdown: Harbinger of new world slump

World stock markets have been in meltdown from Shanghai and Shenzhen to London and New York. A sea of red blighted the computer screens of the stock exchanges everywhere in a panic global sell-off. Could this crash be a one-off event, which will quickly return to normal, or the beginning of a series of shocks in an unstoppable chain of events?

Capitalism in crisis: a sinking ship without any lifeboats

“Watch out”, alarmed the Economist in this week’s main headline. “It is only a matter of time before the next recession strikes. The rich world is not ready.” The front cover picture said it all: the knight in shining armour of the ruling class, looking backwards at the vanquished beast of the financial crisis, fails to notice that he is walking straight into the salivating jaws of an even bigger monster – and this time without any weapons left at his disposal.

Global capitalist economy: staggering from one impasse to the next

Once more, the world economy is dangling on the edge of a precipice. The crisis in Greece has again hit the headlines and threatens to drag Europe down with it. The days when capitalism could simply sail by without a care in the world have gone forever. As in the interwar period, the crisis of capitalism remains deep-seated and protracted.

The Organic Crisis of Capitalism - Part two

In the second part of his article on the "organic crisis of capitalism", originally published in the In Defence of Marxism magazine, Rob Sewell examines how capitalism has become an enormous barrier to the development of the productive forces, offering nothing but "secular stagnation" and permanent austerity.

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