National Sections of the L5I:

Economy

The Great Bank Crisis of 2008

The tropical storm of the global financial crisis became a hurricane in September, measured in bank collapses, plummeting stock markets, wholesale nationalisations, takeovers and desperate political gambits to rescue the system. Read more...

The Credit Crunch 2 - Three Days that Shook the World

Originally published September 2008
When British Chancellor Alistair Darling shocked the opposition parties and the market with his warning that the economic circumstances were "the worst for sixty years", he was accused of inducing panic. After three cataclysmic days for world capitalism, his comments are now viewed in a different light.All of a sudden journalists, commentators, company spokespersons, economists, are themselves talking about the biggest crisis since the war, or even since 1929. Read more...

Oil price hike sparks global protest

Just after skyrocketing global food prices drove a wave of protests involving people in up to 30 countries in March-April, a second round of worldwide protests has kicked off sparked by the rise in oil prices to historic highs. Read more...

Our analysis as the credit crunch developed

Chapter 1 of the book is made up of the following articles which were published as events developed. Read more...

Globalisation and the Myth of the New Long Wave

This article examines the controversial theory of 'long waves' of capitalist development and goes on to analyse the nature of the globalisation period of capitalism between 1990 and 2007. Read more...

Food: the first global crisis of the 21st century

Kam Kumar and Simon Hardy report on the growing food disaster, as some of the world’s poorest people are priced into starvation as a result of the latest stage of the capitalist crisis Read more...

Bank crisis deepens

The Credit Crunch of 2007 is now The Bank Crisis of 2008. Read more...

Getting the measure of China

As the US economy moves into recession, Peter Main looks at the possible repercussions on China, a country that has become an icon of globalisation's dynamism in recent years. Rather than coming to the rescue of world capitalism, he argues that the coming year will see China face slackening export markets at a time when its domestic cycle is moving towards its peak. Read more...