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Governments have fuelled a new toxic deb...

Governments have fuelled a new toxic debt crisis

Experts are busy assessing the signs of an oncoming global recession and a new financial crash, poring over charts, columns of figures and graphs, reading about warnings from the International Monetary Fund among others. Why are they so deeply alarmed? Globally, manufacturing is in a recession. US production is contracting and jobs are disappearing as […]

Global economic car crash?

Global economic car crash?

The announced closure of Ford’s engine plant in Bridgend, South Wales in 2020 is emblematic of the continuing decline of capitalist production worldwide. In May, global manufacturing output crossed the line from growth to contraction. Again. This is the latest sign of a long-term trend. New orders for exports lead the way down. Service industry […]

Call time on neoliberal-driven climate d...

Call time on neoliberal-driven climate disaster

Everything that people depend on for their daily lives has not just been disrupted, it’s been absolutely destroyed. So said Mark Bowen, head of emergency management for Bay County, Florida, after Hurricane Michael passed through the Florida Panhandle. Looking to the bigger picture, the last 20 years have seen a dramatic rise of 151% in […]

A decade after the crash, a fairer, kind...

A decade after the crash, a fairer, kinder capitalism is simply delusional

Ten years ago, the world economy ground to a halt in the wake of the biggest financial crash in the history of capitalism. The vastly overinflated atmospheric layer of global credit had burst. The banks and the entire financial system were in trouble, big trouble. Bear Stearns and Northern Rock led the collapse. Then on […]

Tories ignore global heatwave and give b...

Tories ignore global heatwave and give backing for fracking

In the midst of the global heatwave, energy minister Claire Perry’s approval of the first UK fracking licence under its new, more permissive regulatory regime reveals more of the real, corporate power behind the government. Approval for shale gas extraction company Cuadrilla to begin extraction in Lancashire has injected new energy into the opposition movement […]

After Carillion, what is the private sec...

After Carillion, what is the private sector for? Good question!

The collapse of Carillion, which made its money by sucking resources out of the public sector, begs the question: What use to society is the private sector of capitalism, when all is said and done? Hospital building, road and rail construction sites have halted. Emotions are stirring as the inevitable results of opening public services […]

How the 1% protect their wealth at our e...

How the 1% protect their wealth at our expense

Early in 2016 it was the Panama Papers, then, late in 2017, the Paradise Papers. These massive leaks of files, no doubt by whistleblowers sickened by their own actions, blew huge holes in the web of secrecy surrounding the offshore economy that protects the accumulating wealth of the super-rich and the giant corporations. Between the […]

The UK’s ‘economic model’: what it is an

The UK’s ‘economic model’: what it is and how to change it

  With the Tories in increasing disarray and Labour leading in the polls, Jeremy Corbyn hammered home his party’s advantage at the Cooperative Party’s 100th anniversary conference.   Corbyn wryly welcomed chancellor Philip Hammond’s warning that Labour poses an “existential challenge to our economic model”. “Yes we do,” he responded emphatically, adding: “I am not […]