One of capitalism’s oldest myths is that of the efficiency of the so-called ‘free-market’ and its superiority to a socialist planned economy. Defending economic planning, this talk responds to the libertarian ideas of the Austrian School of economics, whose ‘theories’ amount to vitriolic support of the unrestricted rule of capital at the expense of the needs of society.
Marx’s masterpiece, Das Kapital, is dripping with the most important lessons for humanity to understand. How does capitalism, the system we live under, actually work? What are the contradictions inherent in how our economy runs, and how does this impact our lives as workers? At Revolution Festival this year, Adam Booth, who has just rewritten his guide to capital, explains Marx’s writing for the modern reader
On the eve of the Autumn Budget, the bond markets – the investors who bankroll the British state – are getting jittery. The capitalists are losing faith in Labour’s ability to carry out the necessary cuts to ‘balance the books’. But what alternatives do they have?
Tech corporations and governments are pouring trillions into the ‘AI arms race’. But warning signs are flashing that this is all a massive speculative bubble, waiting to burst. This anarchic speculation is set to have a catastrophic impacts on the world economy.