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Some choice bits from NUMSA's response to COSATU The full text can be found here 13. We have boldly maintained that at the heart of the crisis in COSATU are two opposing forces: the forces of capitalism and the forces socialism. The capitalist forces within the...
A crisis in the capitalist system is a kind of wake up call: speculative bubbles burst, the price of assets [8] moves back towards their real value; the least profitable corporations go bankrupt, and capital is destroyed [9]. Crises are in a way part of Capitalism's...
Conversation with Özlem Onaran From the start, the neoliberal project in Europe was marked by a striking pro-capital redistribution of income, wealth and power. This seemed to be a good solution to overcome the profitability crisis, but it sowed the seeds of another...
The key question is who, i.e. which class, is going to pay for this enormous crisis. Whichever one wins the battle, it will be directly at the other's expense. So far the popular classes are taking a beating. Can this be turned round? Throughout Europe people are...
The key question is who, i.e. which class, is going to pay for this enormous crisis. Whichever one wins the battle, it will be directly at the other's expense. So far the popular classes are taking a beating. Can this be turned round? Throughout Europe people are...
Amandla! introduces a new column: Economics for people. In this column we demystify basic economic processes, concepts and debates so that activists are able to participate better in the struggles over the nature and direction of economic policy. One of the factors...
Amandla! introduces a new column: Economics for people. In this column we demystify basic economic processes, concepts and debates so that activists are able to participate better in the struggles over the nature and direction of economic policy. One of the factors...
1. Introduction The Occupy Wall Street (OWS) movement has brought about a remarkable change in public consciousness. Until the movement began in September 2011, it was rare to hear politicians or the mainstream media acknowledge such huge problems as the gap between...
An economic solution to the eurozone's ills cannot be found without political legitimacy. The current European crisis has most often been viewed as the combined consequence of misguided technical arrangements and unanticipated economic shocks. In contrast, little...