Crisis opening in 2007

A Workers' Plan for the Crisis AWL Tue, 05/05/2009 - 14:10
Workers' plan

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.
 

 

 

 

From 2008 to fighting capitalism

Submitted by AWL on 18 January, 2017 - 12:55 Author: Caroline Jeffries

When the housing bubble burst and a full-blown financial crisis developed in 2008 I was ten years old. I lived in an upper-class neighbourhood, so very few people around me were greatly affected by the crisis. 2008, however, would come to bother me for years after the recession ended.

Bankers’ greed brings us down Matthew Wed, 11/02/2016 - 11:53

“For questions about the survival of big European banks to be swirling almost ten years after the financial crisis started is utterly damning”, writes the big business magazine The Economist.

Questions are indeed swirling. On 26 October, the Bank of England asked British banks to say how much they are owed by Germany’s huge Deutsche Bank and Italy’s oldest bank, MPS, in case those banks prove unable to pay. Deutsche Bank’s share price has fallen by over 50% this year.

The world of neoliberalism, three years on AWL Wed, 10/12/2016 - 13:56

Three years ago, we surveyed “the world of neoliberalism” as it had emerged from the 2008 financial crash and the acute phase in 2010-12 of the eurozone government-debt crisis.

Many patterns have continued since 2013. Overall economic growth has been slow by historical standards, even slower by comparison with the rates expected in recovery from a big slump. Of the global growth, the bulk, 63% in 2015-6, has been in China and India, and the Chinese growth figures are dubious.

Make banks public utilities! Matthew Wed, 02/24/2016 - 09:19

Banks should be public utilities, or at least so closely regulated that they must behave like public utilities. They shouldn’t be free to do whatever brings most profit to their bosses and shareholders.

The world economy since 2008 AWL Thu, 02/04/2016 - 14:00

Since the immediate recovery from the great 2008-9 economic crisis, world economic growth has been slow and troubled. Major areas have slipped back into recession. Now a “third leg” of the crisis, or even a new crash, are possibilities for 2016. Martin Thomas surveys the path, the causes and the sequels of the crisis.

The hegemony of neoliberalism

Submitted by AWL on 28 April, 2015 - 5:40 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 workers’ government will seize the banks

Submitted by AWL on 21 April, 2015 - 4:48 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.

The hegemony of neoliberalism martin Thu, 01/01/2015 - 23:06

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.