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: 

Northern Rock and the case for nationalising the City

The Liberal Democrats are calling on the Government to nationalise the failed bank Northern Rock, and denouncing New Labour from being held back from this course by "ideological preoccupations".

Such are the weird convolutions produced in British politics by the Blair-Brown counter-revolution in the Labour Party. Lib Dem economic spokesperson Vincent Cable, a man solidly on the pale-Thatcherite right wing of the Lib Dems, denounces the Labour Party leadership for having "ideological preoccupations" against public ownership (Guardian, 20 November 2007)!

The Liberal Democrats are calling on the Government to nationalise the failed bank Northern Rock, and denouncing New Labour from being held back from this course by "ideological preoccupations".

Marxist Theory and History: 

Publications: 

The unions must channel the anger

Author: 

Joe Marino

It is very clear that the political consensus put forward by the major parties over the last 20 years has been blown out of the water and has been shown to be a sham. And I think that will be seen to be the case far and wide. People know if they can find the money for the banks they can find it for pensioners and other social concerns. People will have questions.

It is the role of the trade unions to channel the anger, and we now have a great opportunity to do that.

By Joe Marino, General Secretary Bakers’ Union

Marxist Theory and History: 

Trade Unions: 

Publications: 

Two other “workers’ plans”

Author: 

Sacha Ismail

In the first two articles of this series, we looked at how, after the Russian revolution, the Communist International developed the concept of “transitional demands”. Many socialists in the international movement before the First World War had instead operated with a combination of “minimum programme” (minimal demands, enough for now and for the foreseeable future) and “maximum programme” (the goal of socialism, put off indefinitely). Transitional demands meant, as the Third Congress of the Communist International put it in 1921:

Discussion of the "workers' plans for the crisis" proposed by the SWP and Socialist Appeal

Publications: 

Marxist Theory and History: 

A workers’ plan for the crisis

Author: 

Gerry Bates

In moments of desperation, capitalist governments reveal themselves. Take these two examples: Alistair Darling’s prognosis for the British economy and the recent bail-outs of US mortgage giants Fannie Mae and Freddie Mac.

In moments of desperation, capitalist governments reveal themselves. Take these two examples: Alistair Darling’s prognosis for the British economy and the recent bail-outs of US mortgage giants Fannie Mae and Freddie Mac.

Marxist Theory and History: 

Trade Unions: 

Publications: 

Can you have more? Of course you can!

Author: 

Tom Unterrainer

Industrial action over pay by the National Union of Teachers was one of the first casualties of the economic crisis. After winning a concrete mandate for action in a ballot, the union took a single day of action to demand the government meet a pay claim. When the union came to ballot for a second time, the turnout was lower and the majority in favour of action was paper thin. The dispute was called off.

Industrial action over pay by the National Union of Teachers was one of the first casualties of the economic crisis. After winning a concrete mandate for action in a ballot, the union took a single day of action to demand the government meet a pay claim.

Marxist Theory and History: 

Trade Unions: 

Publications: 

World credit spiral hits nemesis

Author: 

Martin Thomas

“You can expect”, writes US economist Nouriel Roubini, “that the ongoing credit crunch will get much worse in the year ahead and its fallout will spread from the US to Europe and throughout Asia and the globe.

"Trillions of dollars of securitised assets that were sliced and diced in the long food chain of securitisation are now at some risk. The first crisis of financial globalisation and securitisation is only at its beginning stage”.

The credit crisis, its origins in the general mechanics of capital, and its more specific origin in the strategic choices of world capital in the late 1970s and early 1980s.

Publications: 

Marxist Theory and History: 

An opaque economic crisis

Author: 

Rhodri Evans

Over the last several months, a crisis originating at the lower end of the US mortgage market has become, at least incipiently, a world credit crisis.

The immediate background to the credit crisis is a bubble, since about 2003, in low-security, high-interest mortgage lending in the USA. Corporations have made a buck by lending to house-buyers with poor credit records, at high rates of interest.

They allow for some defaults in payment. But when interest rates go up, and the house-price spiral slows or reverses, the defaults swell.

Over the last several months, a crisis originating at the lower end of the US mortgage market has become, at least incipiently, a world credit crisis.

Publications: 

Marxist Theory and History: 

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