Crisis opening in 2007

A Workers' Plan for the Crisis

Workers' plan
Download pdf, or buy pamphlet online, here.

This Alliance for Workers’ Liberty pamphlet seeks to explain the ongoing capitalist crisis from an independent working-class — socialist — viewpoint. It puts forward an action plan for the working class to defend itself against the bosses’ attempts to make us pay for their crisis, and to go on the offensive to replace capitalism with working-class power and socialism. Click here to download pdf or buy online.



Publications: 

Marxist Theory and History: 

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: 

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.

Issues and Campaigns: 

Marxist Theory and History: 

Publications: 

The hegemony of neoliberalism

Review of Philip Mirowski: Never let a serious crisis go to waste: how neoliberalism survived the financial meltdown. Verso, 2013


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.

Marxist Theory and History: 

Finance and the "other exploitation"

Review of Costas Lapavitsas: Profiting without producing, Verso 2013


Capitalist exploitation is not just by the boss extracting from the worker, in return for a meagre more-or-less “living wage”, an expansible value-added which may be something like three times what’s paid out in wages.

It also comes from making working-class households pay interest on debts which they run up, often on disadvantageous terms, because of their relative poverty and relative lack of power in the markets.

Marxist Theory and History: 

Osborne plans Lloyds and RBS sale

The merry-go-round of high finance stalled in 2007-8, throwing off and injuring millions of people.

Chancellor George Osborne is anxious to start it up again, and to stage some privatisations in the run-up to the 2015 general election as distraction from the economic gloom.

In 2008 governments across the world, including the most conservative and neo-liberal of them, stepped in to nationalise and bail out banks and financial institutions, and thus to steady the merry-go-round.

Chancellor George Osborne is anxious to stage some privatisations in the run-up to the 2015 general election as distraction from the economic gloom.

Issues and Campaigns: 

Marxist Theory and History: 

Publications: 

RBS: don't privatise! Expropriate!

Mervyn King says it's a nonsense that the government owns RBS but doesn't control it. The answer: the whole banking system should be put under democratic and social control.

"The whole idea of a bank that is 82% owned by the taxpayer but run at arm's length from government is a nonsense...", says Mervyn King, governor of the Bank of England.

King's answer is that the 82%-owned Royal Bank of Scotland should be broken up. The profit-making bits of it would be privatised, and the loss-making bits retained by the government and run down.

The Government is reluctant because doing that would mean open and definitively registering the losses the Government has made on the RBS shares it bought in the crisis of 2008.

Marxist Theory and History: 

Expropriate the banks!

Fiddling around with ring-fences isn't enough. To organise investment for social benefit; to redress inequality; to give any reforming government the means it needs to fend off the pressure of global financial markets - there is no alternative but to expropriate the banks and high finance.

They should be converted into a public banking, mortgage, and pension service, under public ownership and democratic and workers' control.

Fiddling around with ring-fences isn't enough.

Issues and Campaigns: 

Marxist Theory and History: 

Publications: 

"The crisis and perspectives": document adopted by AWL conference 2012

Document adopted by AWL conference 2012 (plus amendment which was remitted to the incoming AWL National Committee).

INTRODUCTION

The purpose of this document is to set out an assessment of the economic and political situation within which we operate, and of how that should shape the broad lines of AWL policy over the next year.

It is not to make detailed balance-sheets on, or detailed recommendations for, particular areas of work. Those are covered in other documents for conference.

SUMMARY

The AWL, Labour and the Left: 

Marxist Theory and History: 

Pages