Political Economy

Political Economy

The growing debt crisis

Global debt is now becoming a major factor in the instability of the system of capitalism. Figures show that in the second quarter of 2018 global debt reached a new record, rising to $260,000 billion. Of this total, 61 per cent—$160 trillion—is private debt of the non-financial sector, while 23 […]

Political Economy

The political power of central banks

The dominant ideological story of central banks is that removing them from the control of governments depoliticised them and made them neutral, “scientific” actors in the economy. The argument goes that, as economics developed into a science, with the primary aim of keeping inflation low, making central banks independent allowed […]

Political Economy

The Rights of Man

Thomas Paine’s famous work Rights of Man was published in 1791. It was written as a reply to Reflections on the Revolution in France by the Anglo-Irish politician Edmund Burke. Burke’s book was an attack on the principles of the French Revolution, written by a representative of the ruling class […]

Political Economy

Bus Connect = Bus Bisect

There is no doubt that, with our ever-expanding capital city, public transport needs to be continually expanded and improved to meet the ever changing requirements of a modern city. Typical of our gombeen political class instead of improving and expanding the bus service continuously, the system is neglected, under funded […]

Political Economy

The fodder “crisis”

Comrade Robert Navan’s letter in the May issue of Socialist Voice raises some interesting questions that go to the core of Marxism. It is appropriate that he raised them in the month of the 200th anniversary of Karl Marx’s birth in Trier in Germany. The agricultural question was one that […]