Socialist Worker

Economic crisis


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.

Iceland bank failures burn council fingers

14 October 2008
The drive of the market into public services and the ongoing economic turmoil has opened up the prospect of council workers across the country not being paid at the end of the month.

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.

Hundreds of angry protesters storm the City

14 October 2008
Hundreds of angry protesters storm the City

How we pay for bosses’ crises

14 October 2008
Pensions More than seven million people with pension schemes have lost an average of £20,000 this year. This is because their schemes are linked to the stock market.

Rich need help with their money

14 October 2008
The bosses’ Financial Times newspaper’s How To Spend It supplement rushed out a special "bonus issue" this week, in a timely bid to celebrate the wealth of bankers and other City high flyers.

What can you get for £500bn?

14 October 2008
Gordon Brown’s decision to gamble £500 billion of public money in an attempt to stem the crisis in the banking industry has stuck in the throats of millions.

‘Don't bail out the bankers’ demonstration stops the City

11 October 2008
Several hundred students and other activists brought the City of London to a standstill in a flash protest on Friday evening.

Video of protest at Bank of England, Friday 10 October 2008

11 October 2008
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'We won't bail out the bankers' protest at Bank of England

10 October 2008
Hundreds of students and activists are marching on the Bank of England at 4pm today to protest against the massive bailouts financial institutions have received.

Planning our way out of economic crisis

07 October 2008
The crisis ripping through financial markets means that thousands of people are asking whether there is an alternative to the current system &#8211; and what that alternative might be.

Capitalism isn’t working

07 October 2008
This week our front page declares "capitalism isn’t working" – a subversion of the Tories’ 1979 "Labour isn’t working" election poster that reflected anger at growing unemployment.

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