Economy

To avert total collapse during the pandemic, the ruling class threw trillions at the capitalist system. But far from stabilising the situation, this money has fuelled speculation and inflation. And now the chickens are coming home to roost.

Last Saturday saw protests across the country for a day of action against the cost of living crisis that is bearing down on the working class. Demands for reform do not go far enough. We need to fight inflation with socialist policies.

Workers are facing a ‘cost of living catastrophe’ over the coming months, with rapidly rising inflation. Already several unions are balloting for action over pay. What is needed is a coordinated struggle to take power out of the hands of the bosses.

Chaos reigns across the global economy, with bottlenecks and inflation, on one side, and a growing mountain of debts on the other. The ‘new normal’ is one of austerity and instability. Only socialist revolution can end the anarchy of capitalism.

Yesterday’s Budget announcement was full of fanfare. But there will be no real recovery for the working class, who are being squeezed on all sides. British capitalism is heading for the rocks. The labour movement must prepare for battle.

The global economy is in a state of chaos and collapse, with supply chains breaking down as a surge in demand collides with limited production and a rise of protectionism. Capitalism is crisis. The market does not work. We need a revolution.

Across the world, businesses are facing a severe shortfall of workers, leading to a standstill in production and a breakdown in supply chains. The capitalist market means anarchy and crisis. Only socialist planning can offer a way forward.

Across the UK economy, prices are rising and businesses are facing shortages. It is clear that the anarchy of the capitalist market cannot provide society with life’s necessities. The case for socialist planning has never been so clear.

Governments across the world have spent the last year propping up the capitalist system with unprecedented state support. But these desperate measures have built dynamite into the foundations of the world economy – which is now set to explode.

The global elite are optimistic about the future – for the rich and wealthy, at least. But their celebrations will be short-lived. With class divides deepening across the world, the writing is on the wall for this crisis-ridden system.

The past few years of political turbulence have troubled the ruling class. They are now increasingly desperately trying to stabilise the situation using state expenditure and other concessions. This was seen at the World Economic Forum last month.

Netflix documentary The Social Dilemma details the adverse effects of social media on our lives. Although the film helps shine a light on the murky practices of Big Tech, it fails to offer any real solutions to the problems it identifies.