Two well-known and highly respected mainstream economists, Carmen Reinhart, a chief economist for the World Bank, and Vincent Reinhart, chief economist for Morgan Stanley bank, have recently published an article in the widely read and influential capitalist source, Foreign Affairs, entitled ‘The Pandemic Depression’. Arguing primarily from a global perspective, the economists have concluded the More
An explosion at the Port of Beirut has devastated the city, killing more than 130 people and wounding thousands more. It is an enormous tragedy; a huge blow to a population already reeling from economic, political and health crises. Corruption and incompetence are to blame, but the truth is more pernicious. The Lebanese events are another indictment on the barbaric capitalist system, which cannot meet the most basic needs of the people who are trapped within it.
The COVID-19 pandemic has upended our world. It has laid bare the inequity, the limits, and the failures of capitalism. The door to a better future beyond capitalism, already cracked open by the Great Recession, has been pushed open a little wider.
Capitalism generating postcapitalism April 30th, 2018 It is very hard for some, especially after so much Fukuyama propaganda, to snap out of the fixation on the inevitability of capitalism, but all…
Solving these intertwined crises will require replacing the capitalist mode of production and society with a non-exploitative, sustainable, egalitarian organization of life.
From care homes to our high streets, private equity is corroding the foundations of society from within. It must be stopped before it’s too late.
The climate crisis is the greatest threat humanity has ever faced. At the current rate of greenhouse gas emissions, we are headed for 4°C to 7°C of warming above pre-industrial global averages within the lifetimes of young people. Temperature increases in this range would lead to a hothouse planet with devastating extreme weather events, and make most if not all of our planet
Capitalism is facing a crisis of senile decay. This rotten system should have been overthrown a century ago, but a combination of world war, and the role of reformists and Stalinists gave it a new …