Austerity Versus Stimulus | by Prabhat Patnaik

IT is obviously silly to push for austerity in the midst of a recession, not just silly but cruel, since it prolongs the pain of unemployment. The recession is caused by a deficiency of aggregate demand. To overcome it what is necessary is an increase in demand which...

Where we are in the crisis | by William K. Tabb

The global political economy is likely to remain in crisis for at least another three to five years, with high unemployment and slow growth. The character of this period makes a grim cyclical crisis worse by adding to it both a financial component and a deeper...

Capitalism and alienation | by Phil Gasper

Capitalism creates a society that robs most people of their creative potential, says Phil Gasper I’M SURE it’s not often that the ideas of Karl Marx are discussed in the prestigious pages of the British Journal of Dermatology, but an article published there in January...