Socialist Worker

Economic crisis


Trouble in China

02 December 2008
The dramatic fall in the US economy came as official unemployment rates in China were set to rise to 4.5 percent – the highest in a decade.

Merthyr Hoover workers: ‘We won’t let town die without a fight’

25 November 2008
"I worked at the Hoover plant for 18 years until 1980," says Huw. "It was good solid work. My whole family worked there – my father, uncle, two brothers and myself. There wasn’t a family round here that wasn’t connected to that place.

Time to bury the free market

25 November 2008
Gordon Brown’s pre-budget report this week has been heralded by the media as marking the end of three decades of Thatcherism.

Graham Turner on facing the economic deluge

25 November 2008
The tax cuts unveiled by chancellor Alistair Darling on Monday were cheered by the Labour Party faithful. But one only has to glance at the recent shocking turn of events in the US to see why these tax cuts will fail to rescue the economy.

Bretton Woods: Why economic history will not repeat itself

25 November 2008
In July 1944 the leaders of 44 Allied countries met in a small New Hampshire town called Bretton Woods to discuss how to run the global economy in the post-war world.

We can resist jobs massacre

11 November 2008
Workers in Britain are threatened by a mass cull of jobs on a scale not seen since the grim days of Margaret Thatcher’s 1980s Tory government.

How the recession is hitting workers across the globe

11 November 2008
Across the globe the scale of the economic crisis is becoming clearer every day as more job losses, factory closures and cutbacks are announced.

Growing fears of job losses haunt Welsh Valleys

11 November 2008
Rising job losses are again stalking one of the areas hardest hit in the recessions of the 1930s and 1980s.

Can world leaders find a way out of this crisis?

11 November 2008
Will increased public spending get us out of the recession?

Rich won’t pick up the bill for tax cuts

11 November 2008
Both the Labour government and the Tories are holding out the carrot of tax cuts, and promising these will be targeted at those most in need.

Europe’s growing wave of resistance to the crisis

04 November 2008
Greece Greece is still in the grip of a growing strike wave in opposition to the right wing government’s attempts to pass the costs of the economic crisis onto working people.

Detroit family resists home repossession attempts

04 November 2008
Demonstrators blocked the doorstep to stop the eviction of 72 year old Rubie Curl-Pinkins, a disabled woman who has lived in her Detroit home for 45 years.

Ban bonus payouts to bankers

04 November 2008
"This is an investment in the banking system that will eventually pay off," says chancellor Alistair Darling about New Labour’s bailout of the banks. And pay off it certainly will – to the enormous benefit of the bankers themselves.

Capitalism is bankrupt

28 October 2008
Until A few weeks ago, supporters of free market capitalism were confident enough to proclaim that their system was the only way that the world could be organised. Now their certainties have vanished.

Questions and answers on the developing crisis

28 October 2008
Can public spending solve the crisis? Many economists and politicians – Gordon Brown included – are calling for major public spending projects to stave off the worst effects of the recession. This is sometimes dubbed a "Keynesian" solution.

Stop the repo man

21 October 2008
Thousands of people in Britain are threatened with losing their homes and Gordon Brown is refusing to take any action to stop it.

Big flaws in Labour’s new spending plans

21 October 2008
How quickly New Labour’s old orthodoxies of the free market have come crashing down.

Liverpool housing workers vow to fight redundancies

14 October 2008
Hundreds of workers in Liverpool unanimously voted to say they would take strike action against redundancies at a mass meeting on Thursday of last week.

Time to step off the roller coaster

14 October 2008
The crash of 2008 is forcing governments to make previously unimaginable inroads into the private sector. Pumping capital into the banks by partly nationalising them – the key measure announced by the New Labour government in Britain last week – looks set to spread to the US and Europe.

‘We stood up against redundancies at our car plant, inspired other workers and gained a victory’

14 October 2008
The fight against redundancies at the Jaguar car plant in Coventry in the early 1990s shows how workers’ collective strength can hold back the bosses’ plans.

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