Socialist Appeal - International Marxist Tendency
Marxism. Socialism. Revolution.
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.
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.
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.
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?
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.