Economy

Haunting inequality worldwide

The gap between the haves and have nots is continuously increasing on a global scale. There is a transfer of wealth from the poorer countries to the richer on a scale never seen before in history. Within every country also, distribution of wealth is extremely unequal. Not every person in a rich country is rich, and similarly not every person in a poor country is automatically poor. Concentration of wealth in fewer hands is a common phenomenon in both scenarios.

Capitalism's dark corners

George Osborne announced that the British economy “has turned the corner”. Cameron has chimed in to hail the new “recovery”. But after years of stagnation and falling living standards, who are they trying to kid? The economy is crawling on its belly and we are still being hit with mass unemployment and wage cuts. Rob Sewell, editor of Socialist Appeal, looks at the crisis-ridden state of capitalism in Britain and worldwide.

Welcome to the "new normality"

Despite the reality facing millions of low paid workers, we are again faced with a barrage of propaganda about the British economy “turning the corner”. All this talk of “recovery” is hot air. There has been no bounce back to “normality”. In fact, there is a “new” normality, one of on-going austerity and mass unemployment, condemning a new generation to the scrap heap and a life of despair.

Zero-hour contracts and income inequality: motion passed at Coventry TUC

The statistics and facts reveal a clear trend: over the past 30 years workers are taking a smaller slice of the economic output in society. Conversely, there has been an accelerating increase of the concentration of wealth at the top. Darrall Cozens discussed this growing inequality and presents a motion from the Coventry Trades Council that calls for the leaders of labour movement to organise workers and begin the fight back against low pay, precarious jobs, and the capitalist system that give rise to these.

You call this a recovery?

With recent figures indicating a small growth in the economy, a number of commentators are once again talking about the "green shoots of recovery". But for the majority of people, this does not feel like a recovery. Unemployment is still high, and those jobs that are being created are low-waged and insecure. Matthew Wood discusses the state of the UK economy and its real effects on living standards.

Marx Capital in a Day

Marx Capital in a Day

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