Economics

Marxist economists analyse the crisis

Financial crisis

Author: 

Costas Lapavitsas/Leo Panitch/Fred Moseley/Michel Husson/Andrew Kliman/David Laibman/Simon Mohun/Trevor Evans/Robert Brenner/more
Andrew Kliman and David Laibman are new contributors, and Michel Husson, Fred Moseley, Leo Panitch, and Costas Lapavitsas present second thoughts, in a symposium also including Simon Mohun, Trevor Evans, Robert Brenner, and Dick Bryan.

Marxist Theory and History: 

Fair trade, free trade, and socialism

Author: 

Paul Hampton

Trade is a vital part of the neoliberal economic, political and ideological regime that now dominates the world economy and most national states.

In this pamphlet we try to grasp the essential features of the world economy, especially relating to trade issues.

Issues and Campaigns: 

Marxist Theory and History: 

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China: the crash and the workers

Author: 

Colin Foster

The bill for the Chinese government’s gaudy response to the global crash of 2008 is now falling due.

Then, the government promoted the biggest surge of investment in roads, bridges, railways, and buildings ever seen in world history. China has built a high-speed rail network bigger than all the rest of the world’s high-speed rail put together in just the few years since 2007.

Total debt in the Chinese economy­­­ has soared since 2008, and is now equivalent to 282% of annual economic output.

Around the world: 

Marxist Theory and History: 

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Corbyn: “economically illiterate”?

Author: 

Ralph Peters

To judge by what you hear from the camps of the other candidates for Labour leader, or the media you might believe that Corbyn's economic policy could only be implemented by a storming of the Westminster Palace with a troop of Red Guards. That is far from the truth.

Corbyn's proposals for renationalisation of the rail network and a gradual takeover of the private energy corporations are classified as “old policies” by Corbyn's opponents who attempt to portray them as unpopular. These policies would indeed have been mainstream in the 60s, 70s and 80s, prior to pro-market policies of the Tories, and the Blairites adoption of Tory policies.

Marxist Theory and History: 

The AWL, Labour and the Left: 

Publications: 

New centres of capital

Author: 

Rhodri Evans

As of 2014, “developing Asia” — China, Singapore, South Korea, Malaysia, Taiwan, and other countries — became a bigger exporter of foreign direct investment than North America (the US and Canada) or the whole of Europe.

The United Nations agency which monitors such things, UNCTAD, reports that “developing economies” produced 36% of all foreign direct investment in 2014, up from less than 10% as recently as 2003 (UNCTAD World Investment Report 2015).

As of 2014, “developing Asia” — China, Singapore, South Korea, Malaysia, Taiwan, and other countries — became a bigger exporter of foreign direct investment than North America (the US and Canada) or the whole of Europe.

Around the world: 

Marxist Theory and History: 

Publications: 

Marxism At Work: Shift Work Explained

Our bodies have evolved so that we're awake by day and asleep at night. The brain’s ‘circadian clock’ monitors light levels and releases a chemical, melatonin, to prompt us to sleep when it’s dark; it releases other chemicals that keep us awake during the day.

Marxist Theory and History: 

Trade Unions: 

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The hinterland of the contemporary left

Author: 

Pat Yarker

This book presents six occasional essays in which the American novelist Benjamin Kunkel gives an account of recent work by contemporary thinkers of the left.

A review of Utopia or Bust: A Guide to the Present Crisis by Benjamin Kunkel. (Verso 2014).

Culture and Reviews: 

Marxist Theory and History: 

Publications: 

The hegemony of neoliberalism

Author: 

Martin Thomas

Philip Mirowski addresses the left, very broadly defined — “people who have taken it as a fundamental premise that current market structures can and should be subordinate to political projects for human improvement” — but with “a simple message: Know Your Enemy before you start daydreaming of a better world”.

He dismisses most already-circulating “better world” schemes as helpless against the dominance of neoliberalism.

A review of Never let a serious crisis go to waste: how neoliberalism survived the financial meltdown by Philip Mirowski (Verso, 2013).

Culture and Reviews: 

Marxist Theory and History: 

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A workers’ government will seize the banks

Author: 

Martin Thomas

It wasn’t the stars, or geology. It wasn’t ocean currents, or the weather. The world economy was brought crashing down in 2008 by the particular way we have allowed it to be organised.

It was brought down by being organised around the priority of maximum competitive greed and gain of a small exploiting minority.

From the early 1980s to 2008, world capitalism became more and more governed by the drive for quick, fluid gains, measured and coordinated through an increasingly complex and fast-flowing system of world financial markets.

From the early 1980s to 2008, world capitalism became more and more governed by the drive for quick, fluid gains, measured and coordinated through an increasingly complex and fast-flowing system of world financial markets.

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Marxist Theory and History: 

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