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

Antecedents and sequels of the crisis: discussion notes by Martin Thomas on the first two "rounds", November 2010.
December 2008 onwards: second comments, and some new contributors
1. Michel Husson: The Crisis of Neo-Liberal Capitalism
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: 

Publications: 

Prospects and the “decisive element”

Extracts from a document to be discussed at the AWL’s annual conference on 25-26 October.

On average workers' real wages fell 8.2% between 2008 and 2013. The median (middling) worker lost £2000 a year. But for many workers it has been much worse.

For the 18-25 age range, the average drop was 14%; for 25- 29, it was 12%. Public sector wages have fallen by 15%.

Marxist Theory and History: 

The AWL, Labour and the Left: 

Trade Unions: 

Publications: 

Basic income and the 21st century working class

Author: 

John Cunningham

Until reading Guy Standing’s book A Precariat Charter I had not come across the term “precariat” although I understand that it has been in circulation for some time, as early as the 1950s. So what is it?

According to Standing, the precariat is “an emerging class characterised by chronic insecurity, detached from old norms of labour and the working class”. The precariat has few of the democratic rights associated with citizens and are, in fact, denizens — another word that had me reaching for the dictionary.

A review of A Precariat Charter by Guy Standing (Bloomsbury, 2014).

Publications: 

Culture and Reviews: 

Marxist Theory and History: 

Issues and Campaigns: 

The real price of gold

Author: 

Kieran Miles

The pursuit of gold has led to great exploitation throughout history.

From the demands of the Pharaohs to be buried with enormous wealth; the use of slaves in mining operations in the Roman Empire; the genocide of indigenous peoples, first by the Conquistadors, then Columbus and the colonisers of the Americas, continued in the Californian Gold Rush, the “Scramble for Africa” by the major imperialist powers, and the Klondike; the Boer Wars, fought over the Witwatersrand mines; the use of forced labour in the gold mines of the Kolyma gulag; the list continues.

Although most currencies are now depegged from the gold standard, gold is still used in some parts of the world to trade with.

Publications: 

Marxist Theory and History: 

Black slavery in North America

Author: 

George Novack

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies. Mankind is infinitely ingenious in adapting old cultural forms to new uses under the changed conditions of a new social order. Like a thrifty housewife, humanity hesitates to discard familiar acquisitions, however outmoded; it prefers to store them in attics or cellars in the hope of finding a use for them in the future. The history of economics, no less than the history of philosophy, religion, and politics, shows that such expectations are often realized.

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies - old cultural forms adapted to new uses under a new social order. Chattel slavery in America is a striking case in point.

Marxist Theory and History: 

Around the world: 

Negro Slavery in North America

Author: 

George Novack

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies. Mankind is infinitely ingenious in adapting old cultural forms to new uses under the changed conditions of a new social order. Like a thrifty housewife, humanity hesitates to discard familiar acquisitions, however outmoded; it prefers to store them in attics or cellars in the hope of finding a use for them in the future. The history of economics, no less than the history of philosophy, religion, and politics, shows that such expectations are often realized.

History is rich in examples of the revival of institutions appropriate to more primitive civilizations in advanced societies - old cultural forms adapted to new uses under a new social order. Chattel slavery in America is a striking case in point.

Marxist Theory and History: 

Around the world: 

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