Socialist Worker

Economic crisis


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.

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.

‘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.

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.

Neoliberalism - history sweeps away a failed ideology

07 October 2008
An intractable economic crisis. A discredited Labour government. A pervasive sense of bitterness, anger and fear across the working class. It’s no wonder that many commentators are comparing current events with those of the late 1970s.

Can world leaders avert the crisis? - questions and answers

07 October 2008
What happened over the last week?

Britain is hurtling towards recession

07 October 2008
The financial crisis is spreading into the real economy and is set to hit already hard-pressed working class people even harder.

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.

Irish banks are smiling

02 October 2008
The collapse of Irish bank shares on Monday panicked the Irish government into announcing that they will guarantee the debt of at least six banks.

No bailout for banks - seize their profits!

30 September 2008
Would any sane person bail out a bank in order to take control of its debts but not its profits? No. Yet that’s exactly what George Bush, Gordon Brown and governments across the world are currently doing.

Panic and division hits US ruling class

30 September 2008
Karl Marx famously wrote that "the executive of the modern state is but a committee for managing the common affairs of the whole bourgeoisie".

Europe’s economies teetering on the edge

30 September 2008
Gordon brown and Alistair Darling are not alone in throwing good public money after bad private debts.

Slumps and struggle

30 September 2008
George Bush’s apocalyptic televised address in the US last week will have signalled the seriousness of this economic crisis &#8211; even to those not already aware of it.

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