At the end of 2020 the water “futures” of California, the largest state in the United States in population and economy, were floated on Wall Street for the first time, under the banner of Nasdaq Veles California Water Index.1 It was the first flotation of its kind, offering potential investors the opportunity to hedge against the future availability of water in California: in simple terms, to get rich from the scarcity of the most important substance for all human, animal and plant life to survive.
Tag: monopoly capitalism
Modern on-line social media are a continuing large-scale social experiment as much as we want to consider them a norm of modern life.
Whenever the debate on the effects, drawbacks or benefits of on-line social media arises, there is always an attempt to draw analogies with physical social spaces, such as a public square or perhaps the village community centre.
THE WORKING CLASS is under attack in a class war that we are losing. There was a time when one average worker could earn enough to provide a family with the basic necessities of food and shelter and a few luxuries. This, of course, did not
The most important task of our class is to shatter the illusion that socialism failed. Socialism, directed by communist and workers’ parties— contrary to what we are all taught and told to believe—did in fact succeed. It worked, and continues to work, very well.
Amazon is Europe’s largest internet retailer, with a turnover twice that of its twenty largest competitors. In 2017 its chief executive earned $2.16 million per hour, while Amazon workers receive the statutory minimum wage, which in the EU varies between €1.42 and €11.27 per hour. In 2018 the company generated […]
At the end of May 2019 a study published by the Stern Center for Business and Human Rights at New York University drew attention to the demeaning conditions in the global clothing industry. The report shows how monopoly capitalism (imperialism) exploits countries, both large and small, that try to develop […]
The crisis of the capitalist economic system continues to grow, and the imposition of limited tariffs on steel imports etc. by the United States is just another symptom of this deepening crisis. The reaction of the liberal establishment in the European Union shows clearly its weakness in relation to the […]
The European Union continues to push forward with deeper integration, as that is the economic and political imperative of European big business. The EU Commission continues to promote its strategy of deepening integration. It has proposed a finance minister for the euro zone and transforming the European Stability Mechanism, which […]
The centralisation and concentration of both capital and power means that corporations can withstand scandals and continue to retain the support of both the state and shareholders. It takes something really massive and rare for an Arthur Andersen, Enron or Lehman Brothers to happen. Here are a few recent scandals […]