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One of the biggest pharmaceutical companies in the world, GlaxoSmithKline, the British drugmaker, has agreed to plead guilty to criminal charges, and pay $3bn to settle one of the largest cases of healthcare fraud in US history. The drug giant is to plead guilty to...
The pain in Spain is falling mainly on the poor, says Sofia Tipaldou, but they are resisting on a wholly new scale It’s happened again. Now it is Spain’s turn to get rescued. After half a year of austerity from the ruling centre-right party, Partido Popular (PP), the...
There is something problematic with advocating a 30-hour work week at the beginning of the 21st century: a 30 hour week is not short enough! With millions of jobs lost during the first part of 2009, who is calling for a shorter work week to spread the work around? Not...
Youth labour more attractive, but in abundant supply The campaign for a youth wage subsidy fits well with the “common sense” truth in the business press that ordinary wages are too high and unions are too strong. The youth wage subsidy is just “an entry point to a...
PHIL GASPER argues that Marx’s theory of history is vital for understanding social change, but it doesn’t claim that socialism is inevitable KARL MARX’S key idea, in the words of his collaborator Frederick Engels, was that “the production of the immediate material...
The economic crisis that began in 2008 is getting worse—but it’s finally sparking a fight back in the U.S. IT’S BOTH an exciting and a sobering time to be a socialist in the United States or, for that matter, almost anywhere else in the world. Exciting, of course,...
The crisis of capital at the present juncture when capitalism is deeply financialised is extremely difficult to resolve. The main structural problem of the system is the downward pressure on the rate of profit, but further financialisation is no longer a sustainable...
Zero corporate tax rates and expensive incentives are not worth the investments they attract, writes Roman Grynberg. The freeing up of international trade and the increased mobility of investment have resulted in what tax analysts frequently call a “race to the...
South Africa is considering introducing a universal health care system. A key concern for policy-makers and the general public is whether or not this reform is affordable. Modelling the resource and revenue generation requirements of alternative reform options is...