Socialist Worker

Economic crisis

Capitalism’s crisis

22 March 2011
There seems to be no let up in the economic crisis. How did we get into this mess?

A crisis that is far from over

23 November 2010
The global economic and financial crisis is now well into its fourth year. The desperate plight of the Irish economy, and the strains in the eurozone that it has exposed, show that the crisis has still got a long way left to run.

Socialists have an alternative to the banks

23 November 2010
As Ireland descends deeper into economic crisis, the global ruling class has united to provide a bailout for the banks. This will mean further massive cuts to the jobs and living standards of the Irish working class.

Europe makes cuts but the crisis grows

16 November 2010
The European financial system was on the edge this week with bankers demanding more cuts from economies already ravaged by austerity measures.

What are government bonds and why do they matter?

16 November 2010
Bonds are a way for corporations or governments to raise money. They are the main way states meet the gap between their spending and their income from tax.

The banks that are holding Ireland to ransom

16 November 2010
The main bondholders in the Irish economy are:

Minneapolis 1934: the Teamsters’ rebellion

09 November 2010
In the middle of the Great Depression of the 1930s, revolutionaries sparked and led mass strikes and factory occupations in the US. In 1934, more than 1.5 million workers took part in over 2,000 strikes—and they often won.

Bosses fear double dip or ‘Japanisation'

31 August 2010
As politicians, bankers and bosses return from their holidays, they will find plenty of evidence that crucial parts of the global economy are on the slide.

Budget day: chancellor will reveal his plan for pain

15 June 2010
The emergency budget on Tuesdsay of next week will be a blueprint for misery for working class people in Britain.

Tory cuts hit school dinners, housing and childcare

15 June 2010
The Tories’ attacks have already begun—and they are taking aim at the most vulnerable people in society.

‘Economic spring’ is a long way off

16 March 2010
Like winter, the economic slump is reluctant to let Britain escape its grip. All attempts to talk up the "recovery" seem doomed to failure.

The British economy's worst drop since 1921

19 January 2010
The future course of the British and the world economies are shrouded in obscurity. But figures released last week give us a proper measure of the magnitude of what has already happened.

Gordon Brown’s government to slash jobs and services

08 December 2009
The war of words between Labour and the Tories over who can slash more of public services stepped up this week.

Give us a Christmas bonus: get the cash back from banks

08 December 2009
The real cost of bailing out Britain’s banks was revealed this week – a whopping £850 billion.

Crisis exposes ruling class rifts

10 November 2009
The news that Britain has not escaped recession brought a deep sense of gloom to big business. It also exposed deep rifts within the ruling class over what to do next.

Shouldn’t we all make sacrifices?

13 October 2009
Those at the top keep telling us that "we’re all in it together".

Paying for the recession: Save cash, cut the rich

22 September 2009
Socialist Worker offers a guide to painlessly raising huge amounts of money and cutting costs.

The economy: lying to justify cuts

15 September 2009
‘Voters back Tories to cut public spending", screamed the Sunday Times this week. A YouGov poll shows that people want public spending cuts rather than tax increases, Rupert Murdoch’s paper claimed.

Tobin tax bombshell splits ruling class

01 September 2009
Lord Adair Turner, chair of the banking regulator the Financial Services Authority (FSA), shocked the establishment last week by backing the idea of a "Tobin tax".

The current crisis is a test for the left

01 September 2009
When Lehman Brothers, the fourth biggest bank in the world, went under on 15 September 2008, the economic storm became a tsunami. Such was the scale of the crisis that some political commentators described capitalism itself as being on the verge of collapse.

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