Richard D. Wolff: Capitalism hits the fan: a socialist solution
Richard Wolff is professor of economics at UMass Amhers
Videos on the Marxist theory of capitalism
Capitalist versus socialist state intervention in the economy
By Martin Saatdjian
John Pilger: The downfall of Mbeki -- The hidden truth
By John Pilger
October 7, 2008 -- The political rupture in South Africa is being presented in the outside world as the personal tragedy and humiliation of one man, Thabo Mbeki. It is reminiscent of the beatification of Nelson Mandela at the death of apartheid.
This is not to diminish the power of personalities, but their importance is often as a distraction from the historical forces they serve and manage. Frantz Fanon had this in mind when, in The Wretched of the Earth, he described the "historic mission" of much of Africa's post-colonial ruling class as "that of intermediary [whose] mission has nothing to do with transforming the nation: it consists, prosaically, of being the transmission line between the nation and a capitalism, rampant though camouflaged".
Mbeki's fall and the collapse of Wall Street are concurrent and related events, as they were predictable. Glimpse back to 1985 when the Johannesburg stock market crashed and the apartheid regime defaulted on its mounting debt and the chieftains of South African capital took fright.
Four crises of the contemporary world capitalist system
By William K. Tabb
Exclusive book excerpt: A manifesto for principled Darfur activism -- and beyond
Below Links International Journal of Socialist Renewal publishes – with the authors' permission – an exclusive
Peru: Hugo Blanco -- My arrest
By Hugo Blanco
Canadian election: Left and labour movement discuss way forward
A selection of articles from Canadian socialists discussing the October 14 federal election and the debates and discussions in the Canadian and Quebec left and labour movements on electoral tactics.
The global financial crisis: implications for Asia
By Reihana Mohideen
The Wall Street crisis seems light years away from the side streets of Manila’s urban poor slums. For the labouring masses in the Philippines the capitalist system has been in crisis for some time now, unable to deliver life’s basic necessities: jobs and a living wage; affordable quality healthcare and education; and food security.
According to official National Statistics Office data poverty levels have increased between 2003 and 2006, and 2008 is expected to be the worst year since the 1998 Asian economic crisis. Between April 2007 and April 2008 the labour force grew by only 81,000, while the number of unemployed rose by 249,000, i.e. triple the increase in the labour force. In 2008 the number of employed persons fell by 168,000 and there was no employment generation in April of this year. Jobs were being lost at a time when prices and inflation were skyrocketing.
France: `Red postie’ Olivier Besancenot makes international headlines
London Times, October 17, 2008: `It's time for revolution, says French leftwing star'
International Herald Tribune, October 15, 2008: `Ten arrested in Taser spy ring' (directed at Olivier Besancenot)
New York Times, September 12, 2008 (see also Liam Macuaid's post)