Economic crisis

Billions for bosses—job losses for us

Vast bailouts are being gifted to the bosses to boost the economy. But this won’t stop businesses from cutting jobs and the wages of workers

New Tory handouts will only help bosses

Tory chancellor Rishi Sunak was set to deliver his summer statement on Wednesday this week. It was expected to include a raft of measures in an attempt to prop up the British economy.

Imperialist rivalries heighten the crisis

The Coronavirus pandemic represents a crisis that is simultaneously biological, economic, and political

Who will pay for the crisis now?

A global pandemic has exposed just how fragile the world economy already was. Tomáš Tengely-Evans examines why capitalism constantly creates economic crises

British economy is heading for a slump that is ‘off the scale’

The British economy is heading for a recession forecast to be deeper than the 2007 financial crisis—and one of the most severe since 1900.

Lockdown policies hit the Global South

There’s an old cliche about the economy falling off a cliff. This time it really has, all over the world.

Coronavirus crisis is a big blow to neoliberalism

24 March 2020
If you want a sense of how bad the crisis is, just look at Boris Johnson’s face

The ‘national interest’ is not the interest of workers

22 March 2020
During times of turmoil, the ruling class will tell us to come together. Behind this is the drive to keep making profits writes Nick Clark

Economic slowdown shows up the weakness of the system

13 August 2019
Britain’s economy contracted for the first time in seven years during the second quarter of 2019.

Pound zig-zags are due to Europe crisis

30 July 2019
The pound rose on the foreign exchange markets last week after Boris Johnson became the new prime minister. Alex Callinicos looks at why.

City bosses fear crisis as Woodford investment fund falters

08 June 2019
The near-collapse of an investment fund is sending shudders through the City of London - but it could also affect ordinary people

The system is in crisis—fight to get rid of it

02 April 2019
Business as usual has broken down in politics.

Banks propped up by states a decade on

05 February 2019
The 2007-8 financial crash continues to overshadow the world economy. The big economic news last week was the decision of the US central bank, the Federal Reserve Board (Fed), not to increase interest rates.

Liberals do not have any answers to crisis

18 September 2018
Ten years after the collapse of Lehman Brothers, it’s a matter of controversy whether the global economic crisis it helped to precipitate is over.

Ten years from Lehman Brothers—The day the system nearly collapsed

08 September 2018
When US banking giant Lehman Brothers collapsed a decade ago, it marked the beginning of a gigantic crash that bosses still want us to pay for today.

Falling budget deficit means little to those at the bottom

27 August 2018
Sarah Bates argues that Tory boasting about reducing the deficit does not tell the real human cost behind austerity

Syriza signs up for decades more austerity as final bailout deal ends in Greece

20 August 2018
Greece exited its final bailout agreement on Monday—the mechanism through which the European Union (EU) and the bankers have forced austerity on ordinary Greeks.

Games of the stock market

09 February 2018
Last week's fall in financial markets shows up the volatility of the system and Tomáš Tengely-Evans looks at how investors will treat anything as a commodity to be gambled

Panic after big slump on stock markets

06 February 2018
Fear gripped the ruling class as US stock markets haemorrhaged £1 trillion overnight on Monday.

The great PFI swindle

20 January 2018
It’s a long way from the partly built 40-mile £750 million Aberdeen bypass, work on which has been routinely delayed, to the £4 billion luxury development in Doha, Qatar.