Marxist economics
Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery, agony of toil, slavery, ignorance, brutality, mental degradation, at the opposite pole
- Karl Marx
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Collapse and crisis in the construction sector as ISG goes under
Construction giant ISG has imploded, sending shockwaves across the entire sector. As ever, workers in the industry are set to foot the bill, without thousands of jobs at threat. We say: nationalise the monopolies under workers’ control!
The global crisis of 1973-75: A turning point for capitalism
50 years ago, after the long postwar boom, the world economy experienced its first truly global crisis. Falling output and spiralling inflation combined to devastate the working class. Today, capitalism faces similar turmoil. It must be overthrown.
Stock market panic reveals capitalism’s underlying crisis
Stock prices have been on a rollercoaster ride over the last week, in response to fears about the US and global economy. Capitalism’s accumulated contradictions are beginning to burst to the surface. A new slump looms, with explosive consequences.