economics
US$700 billion dollars is twice the combined debt of the world’s poorest 49 countries.
By Tony Iltis
October 11, 2008 -- “Meltdown” is a word that one hears a lot on the news these days.
Despite the US$700 billion government bailout of banks in the US, similar (albeit smaller) bailouts in Europe, and various forms of state intervention in the finance industry on both sides of the Atlantic, sharemarkets worldwide are in free fall. Comparisons with the Great Depression of the 1930s are common. Homelessness and unemployment are rising and are set to increase dramatically.
Meanwhile, more quietly but even more relentlessly, another meltdown is occurring: that of the polar icecaps. According to the Western world’s establishment politicians and corporate media, the way to avert catastrophic climate change lies in setting up elaborate emissions trading schemes and carbon markets: that is, relying on precisely the mechanisms that have created the economic meltdown!
Nuke deal a conduit to import US crisis into India
Indian Prime Minister Manmohan Singh with US President George Bush
Ernest Mandel: An Introduction to Marxist Economic Theory (1967)
An Introduction to
Marxist Economic Theory (1967)
By Ernest Mandel
John Bellamy Foster: Can the financial crisis be reversed?
Interview with John Bellamy Foster, editor of Monthly Review, for Página/12 (Argentina).
Videos on the Marxist theory of capitalism
Capitalist versus socialist state intervention in the economy
By Martin Saatdjian
Four crises of the contemporary world capitalist system
By William K. Tabb
Engels: Introduction to Karl Marx’s Wage Labor and Capital -1891
By Friedrich Engels