This category is for news and analysis of the present-day economic situation. For Marxist economic theory and history, head to Economics.
Crises are mounting in the video game industry. Thousands of developer jobs are on the line. The quality of hasty releases is deteriorating. And safe-bet sequels are proliferating at the expense of creativity. But workers are fighting back.
Workers in Britain have experienced a painful cost-of-living crisis in recent years, on top of decades of real-wage stagnation. According to capitalism’s apologists, however, it has been a golden age for workers. What planet are they living on?!
Chancellor Jeremy Hunt went through the motions yesterday with his latest Budget announcement. But it is clear that the Tories have no solution for reversing the ailing fortunes of British capitalism, other than to prescribe more bitter medicine.
British capitalism is utterly broken, reflected in sluggish growth, low productivity, stagnant wages, crumbling schools, and dilapidated infrastructure. Only socialist planning can push the economy out of its slump, and deliver for workers.
With inequality widening and austerity sharpening, calls are growing for greater taxes on the wealth and profits of the elites. But demands to ‘tax the rich’ do not tackle the root of the problem. Instead, we must expropriate the billionaire class.
After years of frenzied, debt-fuelled investment into on-demand content, the media industry is now facing an almighty crash, with studio staff, creative workers, and streaming customers paying the price. The chaos of capitalism is to blame.
Trials are taking place to investigate the potential benefits of providing households with a Universal Basic Income. Such a policy may seem radical, but it would leave power in the hands of the capitalists. Instead, we must fight for revolution.
Contradictions are mounting for capitalism. The system is being thrown from one crisis to the next. Inflation, debt, and financial instability all threaten the world economy. A new slump looms. The only way out of this impasse is through revolution.
Recent data has caused alarm amongst the ruling class, suggesting that inflation has become entrenched. In response, central bankers are looking to provoke a slump in the hope of quelling price rises. The only solution is socialist revolution.
Countries, businesses, and households across the world are drowning in debt. As interest rates rise, the danger of default looms. To avoid a catastrophe, calls for debt cancellation are not enough. Instead, we must fight for revolution.
Debates and protests have broken out amongst the Tories recently, over suggestions that supermarkets should sign up to price caps on essential goods. To genuinely fight the menace of inflation, however, we need a socialist plan of production.
The US economy is hurtling towards a disastrous default, as Democrats and Republicans haggle over spending and cuts. This dangerous game of chicken highlights the madness of capitalism. We say: make the billionaires pay for this crisis!