In 2008 the inventor of Bitcoin, Satoshi Nakamoto, expressed his view that “the root problem with conventional currencies is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”¹ This is an old right-wing libertarian talking-point: “When the state spends money to achieve social aims, it devalues money in general, which is an attack on people with lots of money.”
Tag: China
Growing threat to world peace
Governments in capitalist societies have given priority to protecting “the economy” before protecting the people’s health and well-being, while the covid pandemic has accelerated an existing deep global economic recession. Such countries as Cuba, Viet Nam and China, on the other hand, which have a fundamentally socialist-based economy, have given […]
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
Dictatorship: Who decides?
Dictatorship: Who decides? – Seán Ó MaoltuileDownload The ideas of the ruling class are in every epoch the ruling ideas. Karl Marx (1845) Once from the pulpit, now from the mass media, the elite of society have always sought to ingrain within us an acceptance of our own subjugation. The […]
Reflections on Asian socialism
There have been articles in Socialist Voice recently on China and Laos. While I hope to write in the future on North Korea and Viet Nam, there are some points to make on the Asian models, especially their use of market relations in order to build socialism. It should be […]
Where is China heading?
One of the lessons of the fall of the Soviet Union is that Marxists should seek to look critically at states that are attempting to build socialism, while also not being over-simplistic. Most views of China today write the country off as simply selling out and having fully embraced capitalism, […]