1929: From boom to bust to depression
In 1929, the New York stock exchange panic began, kickstarting a financial meltdown and opening up a decade of global depression. Only Marxism can explain the real cause of this crisis.
News and analysis
The latest news and analysis from The Communist, alongside reports of our activity. For Marxist theory and history, click here.
Youth unemployment – nearly at the million mark
Figures published today (Wed) show a continuing rise in UK unemployment,
hiting 2.47 million as at the end of August. This figure is supposed to
be lower than expected – indicating that the recession is coming to an
end – but for those involved it is still high enough – not least for the youth!
A nasty Turner for the worse
Lord Adair Turner is head of the UK’s Financial
Services Authority, the body in charge of regulating the banks and other
financial institutions. Some weeks ago, he was interviewed
by Prospect magazine, a small mouthpiece of the Blairite wing of New Labour. In that interview, Lord Turner blurted out a
telling truth about finance capital that its proponents did not want to
hear. The reaction from
financiers has been apoplectic.
Greece: A historical defeat for the bosses party – mass shift to the left!
The recent elections in Greece saw a
massive shift to the left in Greek society, with a total of 56% of the
electorate voting for the left parties. The PASOK alone received almost
44%. This is a vote that rejects the austerity measures of the outgoing
conservative ND government. The problem is that the PASOK leaders are
promising more of the same. For the workers this vote was a victory –
but they did not vote for more cuts. This now opens up the prospect of
renewed
class struggle in the coming period.
Limited primary school places open new market for solicitors
As the current economic
climate worsens the government and county councils are targeting education as a
means of saving money. Privatisation, redundancies and funding cuts are
tarnishing the education system that so many other countries strive for. Now, with tuition fees on
the increase – the yearly cap of £3,200 soon to be lifted – competition to get
into what remains of higher education is becoming progressively biased towards
only the more privileged members of society.
People’s Charter: False Hopes or Realism?
In March of this year, the People’s Charter was launched at the House Of Commons and has since been backed by many labour movement organisations, trade union leaderships and the TUC. Based around six demands, the aim is to present a way forward which will ensure that the burden of the preesent crisis is not borne by working people. How effective are these demands? How could they be actually implemented? As part of the discussion which the Charter has opened up, we present the first of a number of articles which will seek to examine these demands from a Marxist perspective.
Picket Of Honduras Embassy
Socialists, trade unionists and activists are invited to an emergency
picket of the Honduras Embassy this Monday, 5th October between 4.00pm
and 6.00pm.
German elections usher in a new period of instability
Sunday’s elections in Germany reveal an enormous
shift within the electorate. Of particular importance is the
massive decline of the SPD vote, mirrored by a huge increase in support
for DIE LINKE which stands to its left. The victory of the right-wing
parties means the German capitalists are preparing for an offensive
against the biggest and most powerful working class in Europe.
Leeds SA on campus!
Between
Wednesday 23
and Friday 25
of September, supporters of Socialist Appeal could be found running a
stall outside the University of Leeds – bringing the ideas of
Marxism onto the campus. The comrades sold 24 copies of the new
Socialist
Appeal
all-colour paper over the three days as well as other literature
Pension fund scandal lives on
Nearly two decades ago. Robert Maxwell – former Labour MP, newspaper
tycoon and (so it turned out) conman died after ‘falling’ off his luxury
boat. Soon after all the scandals he was involved in were revealed to
an amazed world. He was living a great big lie and – worst of all – it
was at the expense of those former and then-current employees of the
Maxwell-owned Mirror Group who discovered that their pension fund had been milked dry by Maxwell.
Editorial: The socialist case against the cuts
You
couldn’t make it up! About two years ago the banks in Britain, the USA and all over the world began to
go bust. It started over here with Northern Rock and culminated in the USA with the
collapse of the giant Lehman Brothers, the biggest corporate bankruptcy in
history. The problem for governments was that the banks were threatening to
take whole chunks of the capitalist system over the precipice with them. The
banking collapse and the ‘credit crunch’ were the triggers for a general crisis
of capitalism.
Honduras: Regime resorts to repression – Insurrection in working class neighbourhoods
Yesterday morning police and army
forces violently attacked thousands of supporters of Honduran president
Mel Zelaya and removed them violently from outside the Brazilian
embassy in the capital Tegucigalpa. However, this brutal repression did
not crush the will of the Honduran working people to resist against the
coup. Following the lead given by the National Front of Resistance,
there were mass demonstrations and barricades in all of the working
class neighbourhoods of the capital and in the main cities throughout
the country. Jorge Martin from www.marxist.com continues his analysis of the unfolding events in Honduras.