Tag Archives | Capitalist Financial Crisis

Globalization from Below

Next Steps for Globalization from Below Previously Global Labor Strategies described the vision laid out in the “Beijing Declaration” on “The global economic crisis: An historic opportunity for transformation” and the specific proposals that make up its” transitional program” to move toward a “radically different kind of political and economic order.” This post looks at [...]

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Swindle Inc?

With the exposure of the $US50bn scam by NASDAQ chairman Bernie Madoff, another joint has fallen off the walking corpse that is real existing capitalism. This latest blow to confidence is astounding for its simplicity. Madoff paid dividends out of new investments. He could do so because of irrational confidence in his kind. Humphrey McQueen [...]

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Search on capitalist crisis

The global financial crisis has dominated the headlines for months and has affected countries all around the world. Although, national governments have stepped in to prevent the collapse of the financial system, the world is heading for a major recession. Australians nearing retirement have seen the value of their super fall dramatically while workers face [...]

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Market meltdown

Canadians debate capitalist crisis See video. The current credit crisis rocking Wall Street may well be the largest market failure within the history of capitalism. The crisis is destabilizing the American economy, and also causing financial crises across the capitalist world. It is now dragging the Canadian economy into recession. The immediate trigger of the [...]

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Financial Crisis and Democratic Public Finance

The Financial Crisis and Democratic Public Finance by Leo Panitch. First let’s be clear about capitalism — and with it the character of the state under capitalism. There is a conventional assumption, a leftover of the cold war perhaps, that somehow capitalism is essentially about the market and socialism is essentially about the state. In [...]

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Making the World’s Poor Pay

Making the World’s Poor Pay:The Economic Crisis and the Global South by Adam Hanieh The current global economic crisis has all the earmarks of an epoch-defining event. Mainstream economists — not usually known for their exaggerated language — now openly employ phrases like ‘systemic meltdown’ and ‘peering into the abyss.’ On October 29, for example, [...]

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The G-20 vs. the G-6 Billion

The message from last weekend’s G-20 summit meeting on the global economy must be a parody of Samuel Beckett’s Waiting for Godot: The game can’t go on. The game must go on. In the face of the worst financial crisis since the Great Depression, European leaders had flirted with the idea of actually trying to [...]

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The Capitalist Workday, the Socialist Workday

This speech was delivered by Michael A. Lebowitz at the “Roundtable Discussion on the Reduction of the Workday” (Centro International Miranda, Caracas, Venezuela, 24 April 2008). As May Day approaches, there are four things that are worth remembering: 1 For workers, May Day does not celebrate a state holiday or gifts from the state but [...]

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Global unions response to G20

Trade union leaders from the G20 countries put forward a comprehensive plan to turn around the global economy, in meetings with world leaders in Washington DC on the eve of the financial crisis summit hosted by the US government on 15 November. The top level union delegation will discuss the plan with IMF Managing Director [...]

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