capitalism

Capitalism's New Economy: The Working Class

On re-reading this piece, what is striking about the picture of the working class in capitalism's self-styled service economy in 2006 is how much it resembles the situation today. After decades of capitalist restructuring in the face of problems stemming from the declining rate of profit (problems by no means confined to the economy of the UK) there are now recognisable constants in the socio-economic profile of the 'restructured' working class.

Imperialism and the Amazon

The article which follows was written at the beginning of the month when the continuing deforestation of the Amazon led to the yet more murders of the indigenous population. Since then the crisis has deepened as the dry season burning of the Amazon to clear the way for farming has reached new heights.

“Capitalism is Dead” (George Monbiot) but Only the World Working Class Can Bury It

It did not take the fatal consequences of recent record temperatures in Western Europe, or the recent wildfires in California, monsoon floods in Nepal, India and Bangladesh or the Mozambique cyclones, to tell us that something has radically shifted in the world’s climate. The existential threat of human-created climate change to life on the planet has been understood for decades. NASA, among others, first sounded the alarm about global carbon emissions in 1988 and the Intergovernmental Panel on Climate Change (IPCC) was formed the same year.

Capitalism's New Economy: The Illusion of a Productive Economy

Part four of this article was written before the biggest financial crash was followed by the biggest banking bail-out in capitalism's history, yet it is interesting to see that essentially the same economic profile presents itself today.

Capitalism's New Economy: The Booming Financial Sector

Part three of this series was published in 2005, two years or so before the great financial crash when the economic pundits were lauding the move away from manufacture to 'business and financial services'.

Capitalism, Socialism, Nationalization, and the Statified Economy

Capitalism is typically associated with ownership of firms by private persons while socialism is typically associated with their ownership by the government. However, state owned enterprises (which is the official name) vs private enterprises has very little to do with the actual mode of social labor, production, and distribution.

Capitalism's New Economy: The Value of Capitalist Services

This second article in our series examines what is meant by ‘services’ and their apparently key role in the richest capitalist states where moving away from production of commodities is regarded as essential to economic advancement. Indeed, despite the setback of the 2007/8 financial crash, World Bank figures show that ‘services’ represent a higher proportion of GDP for the world economy as a whole. For the UK 77.4% of GDP was attributed to ‘services’ in 2018.

Capitalism's New Economy: The Case of the UK

The article here, the first in a series on what was then dubbed the "new economy", originally appeared in the CWO's political journal, Revolutionary Perspectives, in 2005.

The war that never ended: public history for the present

A critical look at New Zealand's official First World War centennial programme and its lack of engagement with the war's root causes, namely capitalism and white supremacy.

Twenty Years of the National Minimum Wage

2019 marks the 20th anniversary of the National Minimum Wage.