Socialist Worker

Economics


A class divided by money and power

10 September 2013
THE G20 summit has been dominated by the divisions among the Great Powers over Syria. The line-up has been predictable. A joint statement signed by the US, Britain, France, Australia, Canada, Italy, Japan, South Korea, Saudi Arabia, Spain and Turkey called for “a strong international response” to Bashar al-Assad’s alleged use of chemical weapons.

Britain's 'boom' is small, shaky and built on sand

13 August 2013
Simon Basketter finds the claims of economic recovery an unconvincing mix of exaggerated figures, mounting debt and another property bubble brewing

Economic crisis - there's no recovery for workers

06 August 2013
"UK economy bounces back” trumpeted the Financial Times’ front page on Tuesday of this week. 

Coalition keeps us in a cycle of crises

30 July 2013
Sometimes the witlessness of the Guardian surpasses all understanding. Last Saturday it carried an article explaining why, after the Office for National Statistics announced that Britain’s economy grew by 0.6 percent in the second quarter of 2013, “The future looks bright for Osborne”.

Will Detroit disaster lead to new revolts?

23 July 2013
Detroit, I Do Mind Dying, by Dan Georgakas and Marvin Surkin, paints a marvellous portrait of a great industrial city pulsating with working class revolt.

Tokyo tumble shows crisis far from over

28 May 2013
The financial markets have been behaving recently as if the 2008 crash was merely an unhappy memory, of no relevance to the present. 

Does debt drain the economy?

21 May 2013
The government has spectacularly failed in its mission to reduce the deficit. Dave Sewell shows that even if it achieved its aim it would do nothing for ordinary people

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

23 April 2013
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.

Pumping in money won’t restart growth

09 April 2013
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.

Michael Roberts interview: How far can the US economy fall?

12 January 2013
Who will benefit from the new US budget deal?

Has the economic crisis nearly ended?

27 March 2012
Is the world economy past the worst of the crisis? This is what the stock markets have been signalling these past few months, pushing share prices upwards.

Life after capitalism: alternatives to market tyranny

28 November 2011
We live in a world where the market decides what we produce, how we produce it, and how products are allocated. How else could we resolve these issues, if not through the market?

Tory cuts cause unemployment

23 August 2011
The number of people who are working age and jobless in Britain has soared by nearly 100,000 since David Cameron came to office.

Austerity is back to bite the bosses

12 April 2011
Portugal has become the third EU country, after Greece and Ireland, to ask for a European bailout.

We suffer while rich profit

01 March 2011
The Tories tell us we need austerity to get out of the economic crisis. But new figures show that their argument is an empty one.

Eurozone: How can we solve the crisis?

08 June 2010
Greece is in revolt over attempts to make the working class pay for the economic crisis with huge cuts to public spending.

Graphs of manufacturing industry

12 May 2009
The percentage of workers in manufacturing has been in long term decline (1). There has however been a huge increase in productivity – the amount of wealth produced per worker (2). While the share of manufacturing goods exported has declined their actual value has gone up (3 & 4)

Is manufacturing industry finished in Britain?

12 May 2009
Every day seems to bring yet another announcement of job cuts. This is seen as having a terrible effect on the strength of the working class in Britain.

What on earth is quantitative easing?

10 March 2009
In January chancellor Alistair Darling, discussing the economic crisis, claimed that, "Nobody is talking about printing money".

Can countries become bankrupt?

03 March 2009
"There’s a rumour going around that states cannot go bankrupt," German Chancellor Angela Merkel said recently at a private bank event in Frankfurt. "This rumour is not true."

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