National Sections of the L5I:

Economy

An historic crisis of capitalism Part 1: The crisis of globalisation: overaccumulation and the re-ordering of the world

The financial meltdown of the fall of 2008 was a profound moment not only for the evolution of the “Credit Crunch”, but also for the whole economic and political order. Luke Cooper presents the preliminary conclusions of discussions on the League’s leadership that provide the background for the elaboration of a new programme to be adopted at the League’s 8th Congress in 2010. The article is broken into three parts. The first part below situates the conjunctural crisis within the context of globalisation and imperialism and draws on Trotsky’s method of periodisation to understand these phenomena. Read more...

The Wall Street crash 1929-33

They called it the roaring twenties but then the boom turned to bust. Keith Spencer explains what caused the crash of 1929 and asks whether there are similarities with today’s global meltdown. Read more...

The recovery: a Marxist analysis

The leaders of the world’s biggest economies met at the G20 summit and declared that the world economy was improving. Richard Brenner analyses the evidence for their claims Read more...

Banks profit at our expense

The recent results for the banks have been claimed as evidence of a recovery in the economy as a whole. But the simple fact is that the banks are profiting at our expense thanks to the government bailouts writes Keith Spencer Read more...

How the state serves finance capital

The UK and US governments policy of bailing out finance capital appears to have stimulated some recent return to profitability for banks and financial companies. Keith Spencer examines how this policy of handing over money to finance capital worsens the crisis for the working class and stores up greater problems for the capitalist system. Read more...

Now for the re-ordering of the world?

...and then they started printing money. Luke Cooper considers the prospects for the future of the economic and political order, now the US Federal Reserve has started ‘greasing the presses’. Read more...

Falling profit rates in Marxist Crisis Theory

Observations on the dynamics and meaning of the global economic crisis, by Richard Brenner, who also below takes a critical look at David Harvey's theory of crisis.

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The Third Great Depression

Are we entering a third great depression, asks Richard Brenner? Read more...