Partisan • Patriotic • Internationalist
As we move into the summer, developments demonstrate continuing instability and geopolitical reorganisation of global capitalism. Throughout May and June, inflation remained stubbornly above target. As the business press reports, capitalists are no longer assuming an automatic return to the ultra-low-inflation world that characterised the 2010s; access to cheap capital […]
We are witnessing a full-court press of business lobbying against workers’ rights – specifically, for the focus of this article, but against so-called ‘gold-plated’ regulations more generally. Pay Transparency is meant to be legislated for and in place from June by the Government in Dublin. However, they have now said […]
Ireland is experiencing an inflationary slowdown. Forecasts point to growth falling from expectations of near 3% to now 1.6% for 2026. Higher energy prices, alongside the decline in last year’s exports surge, feed that dynamic. Inflation is likely to register at least 3.3% in 2026. There are already signs of […]
The rapid expansion of private credit over the past decade, previously discussed in October’s Socialist Voice (“IMF Fears Looming Capitalist Crisis”), has created a fragile pillar of global finance. Now estimated at roughly $2 trillion, the sector has grown by extending loans to riskier, often highly leveraged companies. As detailed in October, […]
The Iranian war exposes capitalism’s core logic: upward wealth transfer and economic instability driven by profit, speculation and debt. Rising energy prices, triggered by the war, are accelerating inflation and rippling through the economy, with knock on effects, either now, sooner or later, for transport, food and business costs. That […]
The billionaire Collison brothers, founders and owners of Stripe—one of Ireland’s most successful companies—are no strangers to political-economic interjections. Previously they have criticised Government inadequacy in the areas of housing, transport and core infrastructure. This time, a report funded by them, authored by Professor Alan Ahearne, takes aim at Ireland’s […]
Reformism and liberalism manifest themselves in all sorts of ways. They are so endemic that they have become part of the human psyche. They are a central part of protests and campaigning, no matter what the cause. They have become the hallmark of perceived victories and achievements in campaigning. To […]
James O’Toole’s recent article on “comprador theory”[https://rednetwork.net/red-theory/2026/02/comprador-theory-lets-the-irish-rich-hide/] raises an important and serious political concern. He is right to insist that the Irish ruling class must not be portrayed as innocent intermediaries. Irish capital exploits. The Irish state defends class interests. Irish firms extract surplus both domestically and internationally. Any analysis […]
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 […]