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Economy

Marxist theory: the advantage of foresight over astonishment

It has often been stated that the correctness of Marxist theory - in its ability to predict the general course of development within the economy and society - demonstrates the superiority of foresight over astonishment. Never has this been better demonstrated than by the events of the current crisis, which has left the ruling class flailing blindly in search of an explanation or a solution.

The dead end of capitalism

After five years of decline and stagnation, a sudden economic spurt has raised hopes of recovery in Britain. But the UK cannot be viewed in isolation. It is part of the world crisis of capitalism. Rob Sewell, editor of Socialist Appeal, looks at the real state of the British economy and discusses the false optimism of the capitalists.

Why Keynesianism is unable to solve today's crisis

The world economy has been mired in a deep crisis since 2007. The bourgeoisie have tried everything to climb out of the crisis, from quantitative easing, to zero interest rates, to the socialization of banking losses, but all to no avail. Luca Lombardi of the Italian Marxists Falce Martello asks: why is it that a modern-day version of Keynesianism cannot work?

New Year, same old crisis

As 2013 came to a close, many economists and politicians drew a collective sigh of relief: the Eurozone remains in one piece; the USA has not defaulted; and a triple-dip recession was avoided in Britain- there is even much talk of a recovery! But for the more far-sighted commentators amongst the bourgeoisie, the New Year – far from offering any light at the end of the tunnel – simply brings with it increasing uncertainty, instability, and crisis.

New figures reveal growing concentration of wealth in the hands of the few

Class struggle is alive and kicking, and it’s the working class that’s getting kicked. Ben Gliniecki reports on the latest economic figures, which show how the working class is receiving an ever smaller slice of the pie when it comes to the wealth created in society - wealth that is created by the working class.

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