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Economy

Professor David Harvey speaks at the LSE on the "Seventeen Contradictions of Capitalism"

On Wednesday 2nd April 2014, roughly 450 people filled the LSE's Old Theatre to hear a lecture on 'The Seventeen Contradictions of Capitalism', given by the prominent Marxist academic, Professor David Harvey, who was launching his new book on the Marxist theory of capitalist crisis. Josh Holroyd reviews Harvey's analysis of the crisis of capitalism.

UK Budget 2014: handouts for the rich; nothing for the poor

This year’s budget from George Osborne has been described as the most typical Tory budget he has yet given. Whether that is correct is open to debate; but what is true is that it has many of the features of previous Tory budgets in a pre-election year: huge handouts to the rich, lots of shiny baubles for wavering Tory voters, and nothing for the poor.

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?

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