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Economics

Marx was right!

Details Alan Woods logo 18 Nov 2011
marx_engels1.jpgThe crisis of capitalism is accompanied by a crisis of bourgeois thought: philosophy, economics, morality – all are in a state of ferment. In place of the earlier optimism that stated confidently that capitalism had solved all its problems, there is an all-pervading mood of gloom. Not so long ago, Gordon Brown confidently proclaimed “the end of boom and bust”. After the crash of 2008 he was forced to eat his words.

Marx vs Keynes: Where does economic growth come from?

Details Adam Booth logo 10 Nov 2011

“We are all Keynesians now.” So said Richard Nixon, the Republican and former President of the USA, in 1971. Forty years later, it seems that John Maynard Keynes is back in fashion, especially amongst the leaders of the British Labour movement. The reformist leaderships of the Labour Party and the trade unions cling to the Keynesian idea that the economy can simply be “stimulated” back in growing. But as the Marxists have explained before, the current economic crisis is not just part of some boom-and-slump, but is an organic crisis of capitalism, and growth cannot simply be created at will.

Inflation: Hitting The Poorest Hardest

Details Adam Booth (Cambridge Marxists) logo 10 Feb 2011

Earlier this year, it was announced by the Office of National Statistics (ONS) that inflation had risen from November to December, with the Consumer Prices Index going up from 3.3% to 3.7% and the Retail Prices Index (PRI) – which includes housing costs such as mortgage interest payments and council tax – rising from 4.7% to 4.8%. Inflation was persistently high throughout 2010, with an average RPI of 4.6% - the highest since 1991.

Monopoly capitalism and the case for socialism

Details Will Roche logo 19 Feb 2010
e-waste-1.jpgMonopolisation of big business is endemic to the capitalist system. Big business has become wealthier and more powerful today than ever before.The revolving doors between government and industry has ensured the continued domination of big business over parliament and state. Capitalist economists constantly argue that privately run industry driven by pursuit of profit is the best way for an economy to function. But, even a cursory look at the world around us tells a very different story. Far from being efficient, capitalism is riddled with contradictions and crisis. You could write multiple volumes, as Karl Marx did, on the inadequacies of capitalism, but here, in this limited space, we shall deal with just a few.

The revolving doors of business and government

Details Will Roche logo 27 Jan 2010
handshakemedium_web.jpgMarxists have long since been conscious of the nature of the state, its industrious defence of the capitalist class, and its prejudice against working people. But much of the public are unaware of just how incestuous the capitalists and governments really are. Read part two of Will Roche's study of monopoly capitalism.

More Articles ...

  1. Monopoly Capitalism
  2. What is financialisation?
  3. The crisis of world capitalism is gathering speed
  4. Ford: Global Company, Global Struggle
  5. Neoliberalism – dead or only sleeping?
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