Partisan • Patriotic • Internationalist
With Donald Trump drawing so much attention to his outrageous demands and acts of international piracy, it is hardly surprising that, with notable exceptions, little attention is paid in Ireland to problems caused by the European Union. One exception is the CPI. Opposition to the European Union has been party […]
In recent days, Irish media and the political establishment have sounded the alarm about the escalating dispute between the European Union and the United States, warning that new tariff threats and the possible unravelling of last year’s trade deal could have serious consequences for the Irish economy and jobs, particularly […]
In December, I argued that calls to “tax the billionaires” stop well short of the real problem. The billionaire is not a moral aberration or a failure of regulation. The billionaire is the logical outcome of capitalism itself. That argument dealt with redistribution and its limits. This article follows directly […]
In the 25th chapter of Das Kapital, “The General Law of Capitalist Accumulation,” Marx states: “Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery …at the opposite pole.” The World Inequality Report 2026 (WIR) validates this fundamental prediction. Rising inequality is a structural feature […]
The Financial Times’ annual review offers insight into contemporary capitalism (see ‘Tariff turmoil, a gold rush and the sinking dollar: 2025 in charts’ Financial Times December 25th). What the FT celebrates as a profitable year is a story about asset prices not workers’ livelihoods. Rising stock valuations and gold prices […]
Recent headline figures for the 26-County economy are a study in illusion. GDP growth is expected to reach 10.7% in 2025, a surge driven largely by multinational corporations front-loading exports ahead of potential tariff deadlines. As the European Commission noted in its 17 November forecast, this growth is “exceptional and […]
A new fashion dominates polite progressive politics: denouncing the billionaire. The political and media establishment now routinely laments rising inequality, yet their critique never dares to name the system that produces it. Their solution—their rallying cry—is as bold as a wet leaf: “tax the billionaires.” At first glance, the demand […]
The Guardian recently reported that International Monetary Fund (IMF) Managing Director Kristalina Georgieva admitted the rapid rise of non-bank lending “keeps me awake every so often at night” (“Head of IMF says risks in private credit market keep her awake at night”, The Guardian, 16 October 2025). The Financial Times […]
The German auto industry is burning out. Next Wednesday, the production lines at Volkswagen will stand idle. According to information from Bild, production of the VW Golf at the Wolfsburg plant will be suspended. The production break will then be gradually extended to other models and to other locations. The […]
Thirty-five years after the fall of the Berlin Wall, East Germans still earn roughly 21 percent less than their western counterparts. According to figures from the German Trade Union Confederation (DGB), full-time employees in the east make on average €13,400 less per year. Symbolically, that means from 16 October until […]
Many working families will face very difficult choices this coming winter regarding putting food on the table or heating their homes. The unit rates for electricity, as well as the standing charges, will each increase by 9.5%. While the price of food continues to increase, between June 2024 and June 2025 food and non-alcoholic […]
The business press is increasingly concerned about the AI stock market bubble. Concerns are being highlighted about over-concentration in AI-related giants, noting that the hype around AI may be inflating valuations while delivering lacklustre returns (Tech Stocks are sending a warning, Financial Times, 23 August). A recently published Massachusetts Institute of […]
The World Bank’s June 10th press release – Global Economy Set for Weakest Run Since 2008 Outside of Recessions – projects world output to expand by only 2.3 per cent in 2025. That projection is the lowest level in a non-recession year since 2008. Nearly 70 per cent of economies, […]
As we near the conclusion of this series, it is necessary to reiterate the critical relationship between economics and politics—the essence of Marxist political economy. The previous seven articles examined capitalism’s failures, exposing its inefficiencies and ecological destruction while highlighting the transformative potential of democratic planning and public ownership. Now, […]
The European Central Bank’s (ECB) recent statements on inflation and interest rates provide insight into the contradictions of capitalist production. Last month’s headline inflation was 1.9%, under the ECB’s 2% target – an adopted target among central banks in many advanced capitalist economies. Inflation in the Eurozone is expected to […]
Since 2008, governments across mature capitalist economies have come to rely heavily on debt issuance. For example, governments in the US, Japan, the UK, France, and Italy are now structurally dependent on deficit spending, low interest rates and debt rollover to maintain political-economic stability. Persistent deficits, even during tepid growth, […]