Socialist Worker

Economic crisis


No sign of crisis easing despite bank bail-outs

19 May 2009
What has the government’s largesse in splashing out £1.4 trillion to bail out and guarantee the banks actually achieved?

Martin Wolf is hunting for our services

12 May 2009
For the vast majority of people the idea that we need a new Margaret Thatcher is insane. After all, in the early 1980s she presided over the destruction of swathes of manufacturing industry. The scars still hurt in former coal, steel and other industrial towns and villages.

Will the global economy recover?

05 May 2009
The idea that the green shoots of economic recovery are sprouting everywhere has become entrenched among a layer of economic pundits. They cite the fact that the stock markets have been rising quite strongly.

Take all the cash from super-rich

28 April 2009
Chancellor Alistair Darling declared war on ordinary people and public services with his budget last week.

This recession still has a way to run

14 April 2009
Is the worst of the economic crisis over? BBC Radio 4’s Today programme has been babbling about this for the past week or so, and Barack Obama has now joined them.

Can capitalism recover?

07 April 2009
Karl Marx’s writings were among the earliest to analyse what is now called the "business cycle" – the short-term tendency towards boom and bust built into capitalism.

Betting a trillion on the bankers

24 March 2009
The US government this week agreed to hand over another $1 trillion to the banks as part of an effort to "unblock" the financial system.

Make capitalism pay - put people first

24 March 2009
With millions of jobs and homes under threat and the planet on the brink of environmental catastrophe, the urgent need for global action over the economy could not be clearer.

Can tighter regulation prevent a future crisis?

24 March 2009
The governor of the Bank of England, Mervyn King, last week admitted that the regulatory mechanisms of the world’s financial systems "all failed to some degree to prevent the accumulation of risks that finally produced the crisis".

This crisis still has a long way to run

17 March 2009
Last weekend’s warm-up to the G20 meeting in London next month delivered few tangible results. At their meeting in Sussex, finance ministers resisted US pressure for yet more government spending to prevent the world economy sliding deeper into trouble.

Don’t let capitalism wreck our future

17 March 2009
A generation of young people is growing up facing a future of mounting debt and unemployment.

Take fight for jobs to the G20

10 March 2009
"Ordinary people need to protest at the G20 summit of the world’s leaders to demand that they put people before profit and invest in jobs. We have to make sure that there’s a future for working people."

The bailouts just keep coming... for the banks

10 March 2009
Another week, another bank bailout. Gordon Brown and Alistair Darling claimed that they had come up with a clever idea when they got Lloyds TSB to take over HBOS.

Stop giving our cash to bankers - Sack them!

03 March 2009
Disgraced banker Fred Goodwin is going to keep his £16 million pension, despite some bluster from elements of the Labour government.

Stock market collapse increases rulers’ panic

03 March 2009
Stock markets around the world nosedived on Monday of this week as more evidence of the dire state of the world economy sent investors into a panic. This will have a dramatic impact on ordinary people’s pensions and jobs.

Is this capitalism’s worst ever crisis?

24 February 2009
New Labour’s chancellor Alistair Darling said last August economic times were "the worst they’ve been in 60 years". Earlier this month cabinet minister Ed Balls said the recession is "the most serious for over 100 years". Gordon Brown recently let slip the dreaded D-word – "depression".

Trying to have it both ways over the economy

17 February 2009
The new US director of national intelligence, Dennis Blair, last week proclaimed that instability caused by the global economic crisis had outstripped terrorism to become the country’s biggest security threat.

Tell Gordon Brown: ‘Scrap bank bonuses, save our jobs’

10 February 2009
Have the priorities of the system we live under ever been more clearly exposed than by the events of the past week?

Obama’s economic plan won’t fix the crisis

03 February 2009
Barack Obama’s plan to save the US economy has been caught up in a growing panic among world leaders over protectionism.

Which economy will be bottom?

03 February 2009
The International Monetary Fund (IMF) put Britain at the bottom of the class in its revised forecast for the world economy last week. At the World Economic Forum meeting in Davos, Switzerland, Gordon Brown was forced to refute suggestions that London was now "Reykjavik on The Thames" – a reference to Iceland’s economic crash.

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