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Tokyo tumble shows crisis far from over


The financial markets have been behaving recently as if the 2008 crash was merely an unhappy memory, of no relevance to the present. 

If I use an umbrella, will it lead to rain?


One of the many puzzles about the economic crisis is that people still listen to economists after they failed to anticipate the financial crash of 2007-08, writes Alex Callinicos.

Thatcher shows up problems for Labour


When asked about her greatest achievement, Margaret Thatcher famously replied, “Tony Blair and New Labour”. So it’s quite appropriate that, as one monster is laid to rest, the other should suddenly surface.

Pumping in money won’t restart growth


A big talking point in Washington at the minute is a new book by David Stockman, who was Ronald Reagan’s budget director from 1981-85. Disillusioned by his failure to stop Reagan cutting taxes and boosting military spending, he became a right wing libertarian.

Tories in crisis allow chance of left revival


Totally marginalised under Tony Blair and Gordon Brown, the Labour left has been one of the driving forces behind the swelling protest movement against the bedroom tax, writes Alex Callinicos

The US’s ‘strategic pivot’ to the Pacific


Alex Callinicos considers the options for US imperialism on the tenth anniversary of its invasion of Iraq

Pistorius case shows South Africa’s divide


What is the shooting case of Paralympic athlete Oscar Pistorius really about? First, it’s about sport, celebrity, and money. It’s hard to explain otherwise how he was granted bail when he admitted that he blazed away at his bathroom door, killing his girlfriend Reeva Steenkamp.

Why there's trouble ahead for the Tories


Last week ended well for David Cameron. Lined up with German chancellor Angela Merkel he secured, for the first time, a cut in the European Union’s long-term budget for 2014-20.

US imperialism ten years after the Iraq war


Ten years ago, bloated with a euphoric belief in its own omnipotence, the United States under George W Bush was preparing to invade Iraq. Where does US power stand today?

West's greed in new scramble for Africa


The West is preparing to pull its armies out of Afghanistan. But the French intervention in Mali and the Algerian hostage crisis suggest that a new front is opening up in the Maghreb region, north west Africa. It may last "even decades" according to prime minister David Cameron.

Cameron is trapped in European pickle


David Cameron will finally make his long heralded speech on renegotiating Britain’s relationship with the European Union (EU) on Friday. He is in a pretty pickle.

Cliffhanger for the US economy


Will the US economy fall over the "fiscal cliff"? As Socialist Worker goes to press, this question remains unanswered.

Gaza shows impact of Arab revolts


Frederick Engels wrote in 1854, "We must not forget that there is a sixth power in Europe, which at given moments asserts its supremacy over the whole of the five so-called ‘Great Powers’ and makes them tremble, every one of them. That power is the Revolution."

Obama's re-election: hopes of the poor and profits of the rich


Barack Obama’s re-election is undoubtedly the best outcome for American capitalism.

Presidential election offers us a choice of Wall Street champions


The US presidential election is turning into a cliff-hanger comparable to 2000, when a controversial Supreme Court judgement awarded Florida, and hence the White House, to George W Bush.

Economic woes pile up for a government of 'Lord Snootys'


The wheels are coming off the coalition government with astonishing speed. The basic reason is objective. It is behind on its target of reducing the budget deficit, despite this being the supposed reason for the coalition’s existence. At the same time the economy is shrinking.

No end in sight for global slump


The party conferences have been unable to conceal the fact that the government coalition is in big trouble. Its reason for existence is to reduce the budget deficit—indeed chancellor George Osborne’s original plan was to eliminate it.

The Syrian revolution poses a severe test for Turkey's rulers


The first real sign that the civil war in Syria could spill over into a wider conflict came last week. A series of mortar and artillery exchanges took place across the border between Syria and Turkey.

The debt crisis spreads from Greece across Europe


France, Greece, Italy, Portugal, and—last but not least—Spain. A storm of anti-austerity protest has been sweeping through Europe.

This coalition government is failing at both of its aims


David Cameron and Nick Clegg are kidding themselves if they think the undeniable success of the London Olympics will allow them to "relaunch" their coalition government.

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