Socialist Worker

Economic crisis


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.

Do growth figures herald an economic recovery?

18 August 2009
Recent figures showing Japan, Hong Kong, France and Germany creeping out of the recession have been hailed in some quarters as heralding the end of the global economic crisis.

Banks go back to bubble bonuses

21 July 2009
Can you believe the banks? While the world economic crisis has deep underlying causes, it was precipitated by the collapse of the credit bubble that had been inflated by major banks in a frenzy of borrowing and lending.

Drastic cuts? British parties turn to the Canadian option

14 July 2009
A meeting that may be a sign of things to come took place in London a few weeks ago. Two former Liberal government bureaucrats from Canada – Jocelyne Bourgon and Marcel Massé – met with leading British Tories and senior civil servants.

British economy in free fall

30 June 2009
Despite predictions of recovery, it was revealed this week that the British economy has suffered its biggest fall in more than half a century.

Crisis leads to confusion at the top

09 June 2009
The bosses’ desired solution to the recession is to make workers pay for it. The political class agrees, but is unsure how far and how quickly it can try to make this happen.

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.

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".

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.

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.

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.

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.

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.

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."

Mobile users! Don't forget to add Socialist Worker to your home screen.