Economics

Blame the bust system

Nobody wants to take the blame for fuel shortages, empty shelves and rising prices.

Evergrande shows China’s rulers can’t bank on ‘market miracle’ anymore

As Chinese real estate giant Evergrande teeters on the edge, pundits are speculating whether its collapse could pull down the global economy. Socialist Worker looks at what’s behind the crisis

Surge in inflation shows unions must lead fight over pay

Workers’ living standards have taken another hammering after inflation rose at its fastest recorded rate last month.

The rise of private equity reveals reality of capitalism

Plundering is enjoying an unprecedented boom. The global value of deals carried out by private equity firms is set to reach $1 trillion (£723 billion) for the first time this year.

‘Tax the rich’ is just the start of what’s needed

The Tories this week made workers pay more from their wages so the super-wealthy could protect their inheritances. No wonder that the alternative of taxing the rich is hugely popular.

Don’t obscure Marx’s valuable insights

It is hazardous to treat the Grundrisse as where we can find the real Marx. But it looks as if this is where Harvey is going

Why it’s right to target the City of London over climate change

14 August 2021
Extinction Rebellion is preparing to launch action against the City of London. Nick Clark investigates how the mysterious district finances climate catastrophe as part of its wider service to the bosses' system

What’s the real value behind the rich’s NFT digital art fad?

24 July 2021
Capitalist financial trickery has hit new lows with the development of NFTs, or “non-fungible tokens”

Letters—Now the climate change horrors are coming home

20 July 2021
The horrific effects of climate change have been growing for years.

Virus has created potential for boom—and bust

13 July 2021
Are we heading, as some commentators claim, for another “Roaring Twenties”, like the economic boom that followed the terrible flu pandemic of 1918-19?

Covid has stirred up the labour market

22 June 2021
The general agitation about inflation continues among the bosses

How the Corn Laws split the ruling class

19 June 2021
It has been 175 years since the repeal of the Corn Laws. Isabel Ringrose explores how the bosses’ arguments over trade can open the door for working class resistance

Tories bank on Brexit divides in Ireland

15 June 2021
Why did the Northern Ireland protocol to the Brexit agreement between Britain and the European Union figure so large at the G7 summit in Cornwall?

Is there a ‘new cold war’ between the US and China?

14 June 2021
As US president Joe Biden goes on a mission to turn the West against China, Nick Clark investigates the competition between the capitalist states

Why Bitcoin is no game changer for capitalism

12 June 2021
Digital currencies made to be untraceable were once touted as a democratic alternative to ‘real money’. Not anymore

G7 deal will not make big businesses pay their tax

07 June 2021
Finance ministers from G7 countries gathered in London on Saturday to declare victory over corporate tax avoidance.

Letters—Profit amid Sri Lanka devastation

04 June 2021
My home land of Sri Lanka is being despoiled by people who put money first. A chemical-laden cargo ship sank off the coast near the city of Colombo last week.

What is behind the fears about inflation?

01 June 2021
One issue is dominating discussion of the major economies—inflation. This has to do with both reality and fear.

LETTERS—Halting deportations means keeping up militant response

25 May 2021
We won a massive victory over immigration deportations last week on the streets of Pollokshields in Glasgow.

Neoliberalism is alive and useful to rulers

04 May 2021
Is neoliberalism over? This is what many of its defenders are beginning to fear. Chris Giles, the economics editor of the Financial Times, recently lamented, “The left is winning the economic battle of ideas.”