National Sections of the L5I:

Economy

The Crisis of Globalisation

Luke Cooper surveys the wreckage of globalisation and the mounting crisis of capitalism Read more...

The Crisis in the Global Car Industry

The world economic crisis has hit the car industry with real intensity over the last months. All the world’s major car companies have announced short time working, redundancies or closures. The largest car company and indeed largest multi-national for much of the twentieth century – General Motors — is in its death agony with increasingly desperate interventions of the US-government to just keep it alive. Read more...

Global slump has begun – now let’s fight for socialism

The last quarter of 2008 saw a sharp contraction in economic output for the world’s major economies. It signals that the process of destroying excess capital is well underway, writes Luke Cooper. Read more...

Global recession deepens as economic crisis spreads

The future looks bleak for the world economy as bailout plans fail and the crisis spreads to every corner of the globe. Read more...

Iceland - financial meltdown brings down government

The right-wing government of Geir Haarde has fallen, the first European political casualty of the world economic crisis. Read more...

Now for the re-ordering of the world?

Credit Crunch 2? 3? 4? As the systemic crisis in the financial system deepens further one challenge we face is thinking up new titles for our articles. Read more...

Are western governments and big banks able to stop the recession?

Even looking back on them with a sense of perspective, the events in the autumn of 2008 remain remarkable. The world financial system faced outright collapse, central banks pumped in trillions to prop it up. Share and credit markets were infected with blind panic and banks were nationalised. The capitalist state had to step in to save capitalism from itself. Read more...

Irish workers must not pay for the recession!

The budgest is the latest attempt by Brian Cowen's increasingly unpopular government backed by the Green Party to make Irish workers pay for the recession. Minister of Finance Brian Lenihan called for an extra 2 billion euro to be raised in taxes and 1 billion euro cuts in public spending to deal with the crisis in public finances. Read more...