Economics

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The Challenge Facing the G20

World Economy Brought back from the Edge of Depression but not Stagnation, at Our Expense
Raphie de Santos
The financial crisis which started nearly three years ago rooted in loans to very poor Americans that led to the worst Global recession since the 1930s depression is far from over. Only a massive bailout out amounting to several […]

25Jun2010 | Administrator | 2 comments | Continued
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Con Dems will create new slump

The butchers’ coalition’s emergency budget cuts and spending plans will push Britain into a decade long economic slump argues Raphie de Santos

The list of projects, services and support for the community that will be lost just from the announced spending cuts and suspended future programmes reach down into the very fabric of our society. The […]

22Jun2010 | Resistance | 9 comments | Continued
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The “Treasury Bounce” forces unnecessary austerity, just like in the 1970s

One of the tragedies of the failed New Labour experiment is that it was always based on a repudiation of all historical precedent. Alistair Darling seems to be feeling the pinch of this somewhat. He has attacked the Tories for fiddling the figures to make it appear that government borrowing over the next period will […]

15Jun2010 | Richard Willmsen | 0 comments | Continued
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Fiscal Crisis or a Crisis of Distribution? Squeeze the profits not the wages

 

Özlem Onaran
 
We are in a new phase of the global crisis: the struggle to distribute the costs of the crisis. This crisis is the result of increased exploitation and inequality globally since the 1980s. Neoliberalism tried to solve capitalism’s crisis of by attacking workers, resulting in a dramatic decline in labour’s […]

4May2010 | Administrator | 3 comments | Continued
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Greece: Driven into Crisis

Neoliberal order reigns in the world. Stock markets are recovering from the crash in the fall of 2008. Private banks are no longer weighed down by bad loans that were added to public deficits. The latter were rising anyways because the economic crisis had sent tax revenues on a downward slide. Add further bailout money […]

30Apr2010 | Admin. | 3 comments | Continued
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Questions and answers on why the Deficit is THEIR problem, not ours

Deficits are the difference between what governments spend and what they take in. Governments often claim deficits are the fault of social spending that’s too high. But in fact deficits always grow when capitalist economic activity slows down or contracts because tax revenue falls while state spending rises.
The global economic crisis that began in 2008 […]

27Apr2010 | Admin. | 3 comments | Continued
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Should socialists support a `Robin Hood Tax’?

Yes, but critically argues Andy Kilmister.
Over the last months a considerable amount of support has been building up for a so-called `Robin Hood tax’ on financial transactions with the aim of using revenues from such a tax to promote economic development in the South and combat climate change. On an official level a number of […]

15Mar2010 | Administrator | 3 comments | Continued
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Not quite a clash of Titans

Both Labour and the Tories are pledged to a full spectrum of public spending cuts. John Lister looks at the consequences
In a new year clash of Titans, Chancellor Alistair Darling locked horns with two other mighty beasts, Tory leader David Cameron and his shadow chancellor George Osborne – to claim that the Tories had left […]

8Jan2010 | John Lister | 2 comments | Continued
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£40bn more to be added to banking bail-out ‘fiddle’.

Today, it has been announced that another £40 billion is to go into the Lloyds/HBOS & RBS Bank bail-outs. Alastair Darling says it represents a “better deal for the taxpayer”. But “better deal for the taxpayer” than what?
The reality in fact is that best deal for the tax payer would be the complete nationalisation of […]

3Nov2009 | Steve Hall | 1 comment | Continued
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The Third Slump: The State of the Economy

The UK is in the midst of what even most mainstream economists are now calling its most severe recession since the 1930s. Our earlier assessment of the UK economy at the end of the first quarter of 2009 described it as entering its third major slump. Over six months later the economic statistics have confirmed […]

2Nov2009 | Administrator | 1 comment | Continued
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Convert the ailing car industry!

With the economic recession and environmental crisis alternative plans for socially useful, sustainable production have never been more relevant argues Lars Henriksson.
Lars Henriksson is a Swedish car worker and a member of the Swedish section of the Fourth International.
When the financial shit hit the fan last year the overproduction in the auto industry became visible. […]

2Nov2009 | Administrator | 0 comments | Continued
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Cuts in Services, Jobs, Wages and Pensions to Pay for Their Crisis

Cuts: that’s what all the major parties - Labour, SNP, Conservatives and Liberal Democrats - are arguing about. But not if there is an alternative to the cuts but who would be the best at making the cuts. But let’s be clear we are bailing them out of the complete mismanagement of their economic and […]

11Oct2009 | Admin. | 3 comments | Continued
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