Tag: Capitalism

Political Economy

On supernovas and milkshakes

The economist John Smith of the University of Sheffield caused a lot of debate with his recent article “Why coronavirus could spark a capitalist supernova,” in which he offered a powerful rejection of mainstream and Keynesian analysis of the bond market. For years now, “core” capitalist economies have been suffering […]

Narrated Socialism

When’s the revolution coming?

HIS QUESTION Is often posed to those who even dare suggest the possibility of a socialist future.

In today’s marketised business world we’ve been conditioned into nihilism, a belief in Man’s inherent evil, and to expect nothing more than what we get; it’s essentially Christianity without Heaven at the end. “Socialism” and “revolution” are merely idealistic dreams from the past. But the cynics do ask a fair question: When will the working class take ownership of the state and society?

Imperialism International Narrated Political Economy

The old world is dying

WHATEVER WAY one looks at it, the reality is that this crisis, and its four forms— environmental, health, economic, and political—will prove to be worse than 2008. The fact that China’s economy has slowed down, for the first time in decades, only shows that this crisis will be a global affair, rather than a Western financial crisis, as happened in 2008. The 2020 crash will be a

Political Economy

Vampire capitalism

It’s hard not to believe the end is nigh when the buying and selling of blood turns out to be one of America’s booming industries. The life-saving act of blood donation in Ireland operates on a voluntary basis, besides the odd celebratory pin, and people are expected to give out […]

Political Economy

Signs of the next economic crisis

Over the past two months we’ve been reminded constantly about the supposed health of our economy. Unfortunately, things are not as healthy as cherry-picked statistics might suggest—as anybody looking for a hospital bed or a home can clearly see. We’re highly vulnerable as a small, open economy to the vagaries […]

Socialism

Who said that? Wealth

“In many countries, the wealthy pay lower effective taxes than far poorer people. We need to change course— or face the pitchforks. “The ecological catastrophe fueled by climate change and the socio-economic upheaval threatened by grotesque inequalities of wealth and power have the potential to destroy everything we care about.