Tema: Øk. kriser: 2000-
Se også: Se også: Krise og modstand (internat.)
- Øk. kriser: 2000-
Se også: Krise og modstand (internat.)
- Michael Roberts: The global crawl continues
International Socialism Journal nr. 147, jul 15 – side 45
Note: In my last article for International Socialism 18 months ago I argued that the Great Recession of 2008-9 that devastated the world capitalist economy had not been followed by a recovery in investment and output in the “normal” way, as it did after the simultaneous international recession of 1974-5 or after the deep slump of 1980-2. Instead it has morphed into a Long Depression, similar to the Long Depression of 1873-97 experienced by the major economies of the United States and Europe or the Great Depression of the 1930s.
- Michael Taft: Where We Are Now
Irish Marxist Review (Irland) nr. 11, dec 14 – side 16
Note: The economy is statistically moving out of recession. This can be defined as the economy returning to its pre-recession levels. Of course, this doesn't tell how us any particular category is doing: domestic demand, labour and capital, income and occupational groups, or economic sectors such as industry, retail or finance. In this article we will take a tour of some of these sub-categories to see who is running ahead and who is lagging behind, who is winning and who is losing; in short, what kind of recovery are we experiencing.
- Anders Bæk Simonsen: Er Danmark stadig i en økonomisk krise?
Socialistisk Arbejderavis nr. 338, maj 14 – side 10
Note: “Dansk økonomi er i bedring efter svag vækst,” lyder det i en pressemeddelelse fra Økonomi- og Indenrigsministeriet.
- Joseph Choonara: Financial times
International Socialism Journal nr. 142, apr 14 – side 111
Note: A review of Costas Lapavitsas, Profiting Without Producing: How Finance Exploits Us All (Verso, 2013), £20
In the substantial body of Marxist literature emerging in the wake of the economic crisis that began in 2007-8, two broad positions have been evident.
- Michael Roberts: From global slump to long depression
International Socialism Journal nr. 140, okt 13 – side 17
Note: It is now six years since the first rumblings of the earthquake that was the global financial crash and the Great Recession. On 9 August 2007 BNP Paribas announced that it was closing down two of its funds of US mortgage backed securities and taking heavy losses. It was not long before other banks across the US and Europe announced similar losses. The stock market began to plunge from October 2007 (it had been faltering from March).
- Brian O’Boyle: Cracking the crisis – Financial conspiracy or falling rate of profitability?
Irish Marxist Review (Irland) nr. 7, sep 13 – side 17
Note: The current economic crisis is now into its sixth year. Around the world tens of millions of jobs have been lost, pensions have been destroyed and essential services have been routed. This has been the most visible consequence of the economic devastation, but what is ultimately causing the crisis?
- Alex Callinicos: Economic blues
International Socialism Journal nr. 138, apr 13 – side 3
Note: It will soon be six years since the credit crunch that developed in the summer of 2007 announced the onset of the present global economic and financial crisis. But the core regions of advanced capitalism remain mired in depression—that is, a long period when economies expand below their growth rate in the years before the crisis.
- Mark Thomas: Small island, big crisis
Socialist Review nr. 379, apr 13 – side 4
Note: At the time of writing it is still unclear whether Cyprus’s banks will finally re-open. What has taken place on this small island state seems part of a by now familiar pattern of financial speculation, real estate boom and resulting collapse of a banking sector – one that had ballooned to around eight times the size of the economy it was attached to.
- Sinead Kennedy: Crisis in the Eurozone: Between Austerity and Default
Irish Marxist Review (Irland) nr. 3, sep 12 – side 3
Note: Exactly five years ago the French bank BNP suspended its sub-prime mortgage funds in the US because of “an evaporation of liquidity”. The greatest economic crisis since the 1930s had begun, leading to the Great Recession of 2008-9 and now the Long Depression.
- Mark Thomas: En ny fase i krisen
Socialistisk Arbejderavis nr. 321, jul 12 – side 2
Note: Krisen i Europa er gået ind i en ny fase. I 2008 startede den værste økonomiske krise siden 1930'erne. I 2010, og specielt fra 2011, var der et opsving i modstanden med en række massestrejker i Grækenland, Spanien, Portugal, Frankrig, Belgien og England, de Indignerede i Portugal, Spanien og Grækenland sidste forår, og Occupy-bevægelsen i efteråret.
- Brian O’Boyle: Review: Clutching at straws? Some mainstream accounts of the crisis
International Socialism Journal nr. 135, jul 12 – side 179
Note: A review of Gillian Tett, Fool’s Gold: How Unrestrained Greed Corrupted A Dream, Shattered Global Markets and Unleashed a Catastrophe (Abacus, 2009), £8.99; Paul Krugman, The Return of Depression Economics (Penguin, 2008), £9.99; and Joseph Stiglitz, Freefall: Free Markets and the Sinking of the Global Economy (Penguin, 2010), £9.99
- Alex Callinicos: Rumours of crisis, revolution and war
International Socialism Journal nr. 134, apr 12 – side 3
Note: The urgent sense of imminent catastrophe that gripped much of Western capitalism during the second half of 2011, eased off a little in the past few months. This is not so much because anything fundamental has changed.
- Dave McNally: Feedback: Explaining the crisis or heresy hunting? A response to Joseph Choonara
International Socialism Journal nr. 134, apr 12 – side 177
Note: In opposition to ostensibly “pragmatic” politics, revolutionary Marxists have long insisted that the practice of changing the world is inextricably tied to the ways in which we understand and theorise it. Yet, while maintaining a resolute commitment to the indispensable role of theory, the best Marxist work has also resisted dogmatic ossification, insisting that, since the world we seek to understand is undergoing incessant transformation, so must the theoretical mappings in which we engage.
- Gabriele Piazza: Review: After the fall
International Socialism Journal nr. 134, apr 12 – side 211
Note: Andrew Kliman, The Failure of Capitalist Production (Pluto Press, 2011), £16
The debate on the underlying causes of the Great Recession has divided Marxist and radical economists. Conventional left accounts of the crisis are rooted in the idea of a new phase of capitalism: neoliberalism.
- Jack Farmer: Cash in hand: The $7.7 trillion dollar question
Socialist Review nr. 367, mar 12 – side 4
Note: Think austerity is inevitable because there simply isn't enough money? Think again.
- Estelle Cooch: Europe's zombie banks
Socialist Review nr. 366, feb 12 – side 4
Note: Estelle Cooch on the why the latest bailout won't solve the Eurozone crisis.
- Stefan Bornost + Costas Lapavitsas: Interview: Working people have no interest in saving the euro
International Socialism Journal nr. 133, jan 12 – side 55
Note: Costas Lapavitsas, Professor of Economics at the School of Oriental and African Studies, University of London, spoke to Stefan Bornost about the crisis in the eurozone.
- Alex Callinicos: Printing cash won’t end banking crisis
Socialist Worker nr. 2273, okt 11 – side 4
Note: “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever,” Mervyn King, governor of the Bank of England, admitted last week. He was explaining why the Bank has begun a new bout of quantitative easing (QE), worth £75 billion.
- Alex Callinicos: The crisis of our time
International Socialism Journal nr. 132, okt 11 – side 5
Note: As it has remorselessly unwound, the global economic and financial crisis has passed through a succession of turning points. The first came when the credit crunch began in August 2007. Then there was the collapse of Lehman Brothers in September 2008, precipitating the greatest financial crash since 1929.
- Alex Callinicos: Athens modstand udløser krise hos eliten
Socialistisk Arbejderavis nr. 310, jul 11 – side 9
Note: Der er situationer, hvor den grundlæggende konflikt, der definerer det kapitalistiske samfund, bliver synlig for alle. Onsdag den 15. juni i Athen var en af dem.
- Alex Callinicos: Unsteady as she goes
International Socialism Journal nr. 131, jul 11 – side 3
Note: For a while the high priests of capitalism congratulated themselves on the robustness of the economic recovery. Financial markets soared and there was euphoria about the robust expansion of the “emerging market” economies of the Global South. But in the past few weeks it has begun to sink in that the world economy is locked into a crisis that is far from over.
- Alex Callinicos: Financial crisis is far from history
Socialist Worker nr. 2249, apr 11 – side 4
Note: Hardened boosters of capitalism must be tempted to dismiss the global economic and financial crisis as history. The Financial Times reported last Saturday that the hedge funds that profit from speculative bets in the financial markets now manage over $2,000 billion—“more money than they have ever done before, surpassing their peak in the pre-crisis boom days of 2007, when the industry could lay claim to $1,930 billion of client investments”.
- Alex Callinicos: Capitalism’s crisis
Socialist Worker nr. 2244, mar 11 – side 15
Note: Socialist Worker asked Alex Callinicos to explain the continuing crisis of global capitalism—and whether governments will be able to make the working class pay for it.
- Gareth Dale: Book review: A fiery polemic
International Socialism Journal nr. 128, okt 10 – side 221
Note: Alex Callinicos, Bonfire of Illusions: The Twin Crises of the Liberal World, (Polity Press, 2010), £14.99
A book’s dedication rarely relates closely to its content but this is an exception. Dedicated to the memories of Chris Harman and Peter Gowan, its twin themes are their lifelong preoccupations: capitalist crisis (Harman) and US imperialism (Gowan).
- Analysis: The second bank bailout
International Socialism Journal nr. 127, jul 10 – side 3
- The radical left and the crisis
International Socialism Journal nr. 126, apr 10 – side 3
Note: A tale of two journals --- This year marks the 50th anniversary of New Left Review (NLR). Not purely coincidentally, this journal also began its regular appearance (after an abortive launch two years earlier) in 1960. Launched against the background of the rise of a New Left in rebellion against both Western capitalism and Eastern Stalinism, International Socialism and NLR represent contrasting trajectories for journals of socialist theory.
- Christakis Georgiou: Book review: Finance and capitalism in Europe
International Socialism Journal nr. 126, apr 10 – side 218
Note: John Grahl (ed), Global Finance and Social Europe (Edward Elgar, 2009), £79.95
Over the last 30 years European economies and their financial systems have undergone profound structural changes. Capital markets (bonds and equity) have become the main source of borrowing for firms. Barriers to capital mobility have been lifted, and a wave of directives from the European Commission have promoted the integration of financial markets and the privatisation of health and pension provisions.
- Jakob Nerup: Kriseløsninger
Socialistisk Arbejderavis nr. 296, mar 10 – side 6
Note: I fjernsynet taler de om, at nu vender økonomien. Der er optimisme i de danske virksomheder, og økonomerne spår vækst. Det er desværre ikke den virkelighed, de arbejdsløse mærker. Tværtimod så vokser antallet af arbejdsløse. Og bag de optimistiske udtalelser til offentligheden, bliver krisen stadig dybere.
- Jakob L. Krogh: Enhedslistens krisepjece: – Et godt første skridt
Socialistisk Arbejderavis nr. 295, feb 10 – side 9
Note: Venstrefløjen har behov for at forstå verden for at kunne forandre den. Derfor er det enormt positivt, at Enhedslisten har udgivet en pjece, der analyserer den økonomiske krise. Endnu mere positivet er det, at analysen er marxistisk.
- Alex Callinicos: The British economy's worst drop since 1921
Socialist Worker nr. 2185, jan 10 – side 4
Note: The future course of the British and the world economies are shrouded in obscurity. But figures released last week give us a proper measure of the magnitude of what has already happened.
- Shifting sands of the crisis
International Socialism Journal nr. 125, jan 10 – side 3
Note: Despite the euphoria that gripped the financial markets in the second half of 2009, the world economy continues to be hit by severe shocks. Another hit it in late November.
- Alex Callinicos: A Tobin Tax won’t solve the problem
Socialist Worker nr. 2182, dec 09 – side 4
Note: Is the Tobin Tax on international financial transfers an idea whose time has come? It has been endorsed by the United Nations, Gordon Brown, Angela Merkel, the Archbishop of Canterbury, Financial Services Authority chair Lord Turner, and now the European Union (EU)
- Jakob Nerup: Krisen er ikke forbi
Socialistisk Arbejderavis nr. 293, dec 09 – side 6
Note: „Nu bliver det bedre.“ „Finanskrisen er fortid.“ „Til næste år kommer væksten igen.“ Politikere, bankøkonomer og medier står i kø for at tale krisen væk og væksten i gang. Selvfølgelig ønsker vi, at de har ret, for så bliver vi ikke fyret, velfærden kan undgå besparelser, og vi kan finde en billig bolig. Men desværre taler realiteterne imod dem.
- Wishful thinking
International Socialism Journal nr. 124, okt 09 – side 3
Note: “The Recession Is Over”.1 That is the message with which much of the media has chosen to mark the anniversary of the collapse of Lehman Brothers and the transformation of the credit crunch into the worst economic crisis since the 1930s.
- Joseph Choonara: A note on Goldman Sachs and the rate of profit
International Socialism Journal nr. 124, okt 09 – side 179
Note: A recent paper produced by Goldman Sachs (GS) claims to shed new light on the trajectory of the global economy in the run-up to the current crisis. As well as discussing the “global savings glut”, the paper presents new research on the “return on physical capital”.
- Alex Callinicos: Krisen er ikke slut for verdens ledere
Socialistisk Arbejderavis nr. 291, sep 09 – side 2
Note: Mindre end et år efter at Lehman Brothers gik, fallit er bankerne tilbage. Pustet op af nye profitter spiller de igen med musklerne.
Alt. url: Crisis is not over for world leaders
- Jesper Høi Kanne: Klimakrise og økonomisk krise: Omlæg produktionen
Socialistisk Arbejderavis nr. 290, aug 09 – side 6
Note: Her midt i den økonomiske krise kunne det være rart, hvis denne var den eneste krise af betydning, som vi står overfor. Men den er som bekendt også galt med klimaet. Der udledes alt for meget CO2, mere end jorden kan nå at optage. Konsekvensen er global opvarmning, i et katastrofalt omfang, inden for få årtier, hvis ikke der gøres noget nu.
- Alex Callinicos: Banks go back to bubble bonuses
Socialist Worker nr. 2161, jul 09 – side 4
Note: Alex Callinicos looks at the staggering arrogance of the bankers who think the crisis is over and they can return to their multi-million pound bonuses.
- Analysis: Green shoots or wilting blossoms?
International Socialism Journal nr. 123, jul 09 – side 8
Note: We do not know whether the green shoots of recovery some observers claim to have seen in the late spring will wither in the summer heat. But they are unlikely to blossom this year or, for that matter, next. Stock exchanges may have risen by about 20 percent between February and June but the underlying reality is that the world economy is continuing to contract, with any limited revival in China or slowing of the decline in the US outbalanced by continued deterioration in continental Europe.
- Esme Choonara: Marxist accounts of the current crisis
International Socialism Journal nr. 123, jul 09 – side 81
Note: Just as medical science progresses through pathology, Marxist political economy develops through the analysis of the actual crises of capitalism. It is therefore no surprise that the current paroxysm has sparked both a revival of interest in Marxism and a flurry of responses by prominent Marxists.
- Chris Harman: Feedback: Confronting the wolf
International Socialism Journal nr. 123, jul 09 – side 189
Note: Neil Faulkner accused me in our previous issue of not seeing the “wolf” of economic crisis now that it is upon us.1 It is an accusation that, I must admit, mystified me, since only a year ago Jim Kincaid was accusing me of grossly overestimating the crisis-prone nature of the world system.
- Zombie capitalism
Socialist Worker nr. 2157, jun 09 – side 13
Note: Chris Harman, who has just written a new book about why Marxist ideas are key to grasping how the system works, spoke to Socialist Worker.
- Jørn Andersen: 30‘ernes krise og i dag
Socialistisk Arbejderavis nr. 289, jun 09 – side 11
Note: Krisen i dag er endnu ikke nær så dyb som krisen i 30‘erne. Om den vil blive det, kan kun fremtiden vise. Men lad os kigge på forskellene i omfang – og på ligheder og forskelle hos de bagvedliggende faktorer.
- Alex Callinicos: Will the global economy recover?
Socialist Worker nr. 2150, maj 09 – side 4
Note: The idea that the green shoots of economic recovery are sprouting everywhere has become entrenched among a layer of economic pundits. They cite the fact that the stock markets have been rising quite strongly.
- Chris Harman: Leap of faith: The ruling classes' "solution" to the economic crisis
Socialist Review nr. 336, maj 09 – side 10
Note: The media greeted the London G20 Summit as a great success and declared it to be "the day the world came together to fight recession with a plan for economic recovery and reform". Chris Harman looks at what lies behind the hype and the so called solutions put forward
- Will the G20 bailout work?
Socialist Worker nr. 2146, apr 09 – side 8
Note: Gordon Brown’s G20 plan to “save the world” has been hailed a truimph by the media
- Joseph Choonara: Capitalism isn't working: Can capitalism recover?
Socialist Worker nr. 2146, apr 09 – side 9
Note: Karl Marx’s writings were among the earliest to analyse what is now called the “business cycle” – the short-term tendency towards boom and bust built into capitalism
- Alex Callinicos: Review: An apologist with insights
International Socialism Journal nr. 122, apr 09 – side 101
Note: A review of Martin Wolf, Fixing Global Finance: How to Curb Financial Crises in the 21st Century (Yale University, 2009), £18.99
- Neil Faulkner: Feedback: From bubble to black hole: the neoliberal implosion
International Socialism Journal nr. 122, apr 09 – side 155
Note: “Revolutionary socialists today should not be…pontificating on the degree of damage that capitalism has done to itself, on whether we are in 1929, 1992 or whatever… We do not have a crystal ball…but we can see all too clearly what is happening now and what our responsibilities are.” So argues Chris Harman in his article in the previous issue of this journal.
- Chris Harman: In perspective: Panic in high places
Socialist Review nr. 335, apr 09 – side 14
Note: Twenty years ago, as the USSR showed signs of crisis, I would read some of the daily translations the BBC provided from from the Soviet press. They created the clear impression of rulers who were losing control of events and did not know what to do. Today I get the same feeling as I read the Finacial Times (FT).
- Joseph Choonara: Interview: David Harvey – Exploring the logic of capital
Socialist Review nr. 335, apr 09 – side 18
Note: Joseph Choonara spoke to acclaimed Marxist theoretician David Harvey about capitalism's current crisis and his online reading group of Karl Marx's Capital which shows the revival of interest in this work.
- Judith Orr: Lehman Sisters?
Socialist Review nr. 334, mar 09 – side 15
Note: A steady stream of recent articles blames "macho behaviour" for the financial crisis. Judith Orr challenges the assumption that women would do it better.
- Joseph Choonara: Book Review: John Bellamy Foster and Fred Magdoff: The Great Financial Crisis
Socialist Review nr. 334, mar 09 – side 26
Note: Monthly Review (MR) has been a leading journal of the US left since 1949. In its pages writers such as Paul Baran, Paul Sweezy and Harry Magdoff set out a distinct analysis of capitalism as it existed after the Second World War. This short book collects several recent MR essays by John Bellamy Foster and Fred Magdoff, along with two original chapters, that continue this task – with particular reference to the current economic crisis.
- Chris Bambery: Economy: Trying to have it both ways
Socialist Worker nr. 2139, feb 09 – side 5
Note: The new US director of national intelligence, Dennis Blair, last week proclaimed that instability caused by the global economic crisis had outstripped terrorism to become the country’s biggest security threat.
But for finance ministers from the G7 rich countries, who gathered in Rome on Friday of last week, there is a rival problem – protectionism.
- Graham Turner: Which economy will be bottom?
Socialist Worker nr. 2137, feb 09 – side 12
Note: The economic crisis is hitting Britain and the US hard, but they are not the only countries that will suffer
- Joseph Choonara: The economic crisis deepens
Socialist Review nr. 333, feb 09 – side 15
Note: Joseph Choonara looks at a new phase of the economic crisis that could see whole countries go bankrupt.
- Sadie Robinson + Anindya Bhattacharyya: Crisis: Are the banks to blame?
Socialist Worker nr. 2136, jan 09 – side 13
Note: Amid growing anger at the bankers, Anindya Bhattacharyya and Sadie Robinson look at the role of banks in the wider economy and trace the origins of the crisis.
- Chris Bambery: Economic instability brings more danger of violent conflict
Socialist Worker nr. 2133, jan 09 – side 4
Note: As the global recession deepens, competing states will continue to look to their military power to assert their dominance.
- Neil Faulkner: Protectionism: can it help us survive?
Socialist Worker nr. 2133, jan 09 – side 13
Note: As the world economy sinks further into recession, Neil Faulkner looks at protectionism, one ruling class solution to the crisis, and finds it unable to deal with the problems.
- Analysis: The trillion dollar crash
International Socialism Journal nr. 121, jan 09 – side 3
Note: “History books will document that the global economy experienced a sudden stop after 15 September. The manner in which Lehman Brothers failed disrupted the trust that underpins the smooth functioning of market economies. As a result, virtually every indicator of economic and financial relationships exhibits characteristics of cardiac arrest”.
- Judith Orr + Patrick Ward: Interview with István Mészáros:: A structural crisis of the system
Socialist Review nr. 332, jan 09 – side 18
Note: István Mészáros won the 1971 Deutscher Prize for his book Marx's Theory of Alienation and has written on Marxism ever since. He talks to Judith Orr and Patrick Ward about the current economic crisis.
- Krise og klassekamp
Socialistisk Arbejderavis nr. 284, dec 08 – side 12
Note: Vil den økonomiske krise føre til mere klassekamp? Den russiske socialist Leon Trotskij skrev om det komplicerede forhold mellem økonomisk opsving, nedgang og klassekamp
- Jacob Middleton: Bretton Woods: Why economic history will not repeat itself
Socialist Worker nr. 2129, nov 08 – side 9
Note: The Bretton Woods conference laid the foundations of our international economic order – but world leaders will struggle to reach a similar agreement today.
- Graham Turner: Facing the economic deluge
Socialist Worker nr. 2129, nov 08 – side 12
Note: The intervention by governments around the world will have little effect on the deepening economic crisis.
- Alex Callinicos: G20 has no answers to crisis
Socialist Worker nr. 2128, nov 08 – side 4
Note: You would have had to be very naive to believe that the G20 meeting in Washington last weekend would really mark, as Gordon Brown put it, "the birth pangs of this new global order" demanded by the world economic crisis.
- Can world leaders find a way out of this crisis?
Socialist Worker nr. 2127, nov 08 – side 5
Note: George Bush has invited world leaders to Washington on Friday of this week for a summit to discuss their response to the global economic crisis.
Socialist Worker takes a critical look at some of the proposed solutions that will be debated in Washington – and argues that none of them will offer a way out of this crisis.
- Judith Orr: John Maynard Keynes – the second coming
Socialist Review nr. 330, nov 08 – side 4
Note: Politicians and economists across the world are dusting off their copies of the works of economist John Maynard Keynes. Suddenly the free market needs rescuing and state intervention appears to be the only solution to the crash.
- Lindsey German: In my opinion: Money for the banks...
Socialist Review nr. 330, nov 08 – side 7
Note: My first thought when the government bailed out Northern Rock last year was, where the hell does it find this kind of money when there's never a spare million for a new school or hospital?
- Mark Thomas: State of dependence
Socialist Review nr. 330, nov 08 – side 10
Note: The era of globalisation meant that national states would have no role in modern capitalism. This was a myth accepted by many, left and right. Mark L Thomas argues this was never the case and looks at the impact of recent state interventions to rescue the free market.
- Kevin Devine: How will the economic crisis affect people's lives?
Socialist Review nr. 330, nov 08 – side 13
Note: The collapse of the subprime mortgage market last year which spread to the global banking system is now biting into the real economy and employment.
- Chris Harman: In Perspective: Two faces of John Maynard Keynes
Socialist Review nr. 330, nov 08 – side 21
Note: Economists, both left and right, are championing Keynes as the answer to the crisis. Since his theories do little to challenge the fundamental grip of capitalism, isn't it time for those on the left to recognise his flaws?
- Questions and answers on the developing crisis
Socialist Worker nr. 2125, nov 08 – side 2
Note: As the economic crisis deepens, Socialist Worker answers a number of the key questions on the turmoil.
- Alex Callinicos: Thinking through the current crisis
Socialist Worker nr. 2125, nov 08 – side 4
Note: There have been a flood of pieces in the international press recently about how the financial crash has meant Karl Marx and John Maynard Keynes – reduced to intellectual pariahs in the heyday of neoliberalism – are back in fashion.
- Jakob L. Krogh: Løsningen på finanskrisen blev at sende regningen til skatteyderne
Socialistisk Arbejderavis nr. 283, okt 08 – side 8
Note: Løsningen på finanskrisen, forstået som en krise hvor bankerne ikke tør låne til hinanden, blev at lade skatteyderne garantere for lån mellem banker. Med en skattefinansieret garanti tør bankerne nu igen låne til hinanden, men de bagvedliggende økonomiske problemer er ikke løst, som det beskrives i artiklen neden for.
- Jakob L. Krogh: Krise, arbejdsløshed og mangel på arbejdskraft?
Socialistisk Arbejderavis nr. 283, okt 08 – side 8
Note: En konsekvens af den økonomiske krise er øget arbejdsløshed. Chefen for det internationale LO Juan Somavia forventer, at antallet af arbejdsløse vil stige med 20 millioner på verdensplan. I Danmark forventer regeringen, at arbejdsløsheden stiger til ca. 80.000. Begge dele inden slutningen af 2009.
- Jakob L. Krogh: Sammenbrud eller demokrati
Socialistisk Arbejderavis nr. 283, okt 08 – side 8
Note: Det lykkes regeringerne at udstede garantier og hjælpe-pakker, for at få bankerne til at låne til hinanden igen, blot for at konstatere, at aktierne også i produktionsvirksomheder styrtdykker. De største danske virksomheder har mistet ca. halvdelen af deres værdi.
- Jørn Andersen: Krisen bliver dybere
Socialistisk Arbejderavis nr. 283, okt 08 – side 9
Note: I starten af oktober blev USA’s 700 milliarder dollars store redningspakke vedtaget. Man håbede, at det ville stoppe den galopperende finanskrise.
- Jørn Andersen: Svar på krisen
Socialistisk Arbejderavis nr. 283, okt 08 – side 9
Note: Krisen er gået fra finanskrise til en generel økonomisk krise. Det betyder skærpet kamp om, hvem der skal betale for krisen.
Hvordan tackler fagforeninger og venstrefløjen den situation?
- Jakob L. Krogh: Nationaliser bankerne
Socialistisk Arbejderavis nr. 282, okt 08 – side 6
Note: De sidste mange år har danske banker haft kæmpe overskud. I 2004 havde de danske banker et samlet overskud på 25,8 mia kr. Af dette var over halvdelen, 13,1 milliard gebyrer betalt af almindelige kunder.
- Jørn Andersen: Den værste krise siden 30‘erne: Systemfejl
Socialistisk Arbejderavis nr. 282, okt 08 – side 7
Note: Når etiketten „den værste krise siden 30‘erne“ kommer fra så centrale spillere som Den Internationale Valutafond (IMF), USA’s tidligere nationalbank-direktør, Alan Greenspan, og redaktøren for Financial Times, så er der for alvor noget galt.
- Judith Orr: Economic crisis: Crash course in capitalism
Socialist Review nr. 329, okt 08 – side 4
Note: It will be years for the full effects of the crash of September 2008 to be felt.
The mainstream media ran out of superlatives as they struggled to keep up with the events that threatened the whole basis of the capitalist system. All reflected shock and disbelief that everything that seemed so solid had melted into air.
- Patrick Ward: Economic crisis: Losers take all
Socialist Review nr. 329, okt 08 – side 4
Note: As suited City workers laden with cardboard boxes left their glass and steel monuments to the free market for the last time, Bloomberg, the cable channel for traders, solemnly replaced its continuous on-screen ticker-tape share price updates with "Lehman staff clear desks, call head hunters, weep".
- Joseph Choonara: Economic crisis: State of collapse
Socialist Review nr. 329, okt 08 – side 5
Note: The US government is frantically relieving banks of their "toxic assets". But even the huge amount of dollars used for the buyouts is unlikely to rescue a system which shows all the signs of further collapse.
- Alex Callinicos: Economic turmoil and endless war: System failure
Socialist Review nr. 329, okt 08 – side 10
Note: As the worst economic crisis since the 1929 crash rips through the world's markets, Alex Callinicos analyses the factors driving ever greater political instabilities across the globe.
- Chris Harman: Market madness
Socialist Review nr. 329, okt 08 – side 15
Note: The ruling classes of the US and Britain are reeling in the face of the economic meltdown of their system and the real character of capitalism is exposed, writes Chris Harman.
- Chris Bambery: Economy: Another Wall Street crash?
Socialist Worker nr. 2119, sep 08 – side 3
Note: The bankruptcy of the fourth largest investment bank in the US, Lehman Brothers, has triggered fears of a wider banking collapse.
- Editorial: What lies behind the economic crisis?
Socialist Worker nr. 2119, sep 08 – side 12
Note: There have been some truly astonishing reactions to the economic chaos that hit world markets this week.
US leaders have rushed to assure the world that the overall US economy is fine. Jeff Randall of the Daily Telegraph is one of many arguing that the collapse of Lehman brothers, the fourth biggest investment bank in the US, demonstrates that capitalism is working.
- Jacob Middleton: Economics: Can state intervention solve the crisis?
Socialist Worker nr. 2118, sep 08 – side 6
Note: Recession is built into capitalism and state intervention cannot eliminate it, argues Jacob Middleton
- Editorial: US nationalises Fannie Mae and Freddie Mac as panic grows over crisis
Socialist Worker nr. 2118, sep 08 – side 12
Note: Imagine that a government summons the heads of two of the biggest corporations to its treasury headquarters in order to deliver an ultimatum – either they agree to a state takeover or have one forced upon them.
- Lindsey German: In my view: Credit crunch: A winning formula?
Socialist Review nr. 328, sep 08 – side 7
Note: The credit crunch has wiped £600 billion – more than £1 million a minute – from Britain's total wealth in the past year.
- Sadie Robinson: A year of economic crisis: Crunch time for capitalism
Socialist Worker nr. 2114, aug 08 – side 8
Note: The economic crisis provoked by the ‘credit crunch’ a year ago has created fear and panic, writes Sadie Robinson, but there can be an alternative.
- Sadie Robinson: A system built on a shaky foundation of debt
Socialist Worker nr. 2114, aug 08 – side 9
Note: The current credit crunch was triggered by the subprime mortgage crisis in the US. But how did the global economy become so reliant on consumer debt in the first place?
- Simon Basketter: Nationalisation: Governments are not as helpless as they claim
Socialist Worker nr. 2114, aug 08 – side 9
Note: New Labour chancellor Alistair Darling explained last week that he was unable and unwilling to bring in a windfall tax on the fuel companies. His explanation was that these companies made a lot of their money outside Britain – and therefore paid taxes in other countries.
- Jørn Andersen: Krise-tema: Fra efterkrigs-boom til krise
Socialistisk Arbejderavis nr. 280, jul 08 – side 11
Note: Den krise vi er på vej ind i handler om globale økonomiske „ubalancer“ – men også om over 30 års forfejlet krisepolitik.
- Jørn Andersen: Krise-tema: Krise og politik
Socialistisk Arbejderavis nr. 280, jul 08 – side 11
Note: Krisen er ikke længere kun et spørgsmål for økonomer og spekulanter. Den bør også være et centralt spørgsmål for venstrefløjen og fagforeninger.
- Analysis: The politics of a double crisis
International Socialism Journal nr. 119, jul 08 – side 3
Note: “Auguries For A ‘Vile’ Decade” was the headline of a Financial Times column by its veteran commentator Samuel Brittan in May. He was quoting Michael Saunders, a Citigroup analyst, on the prospects for British capitalism, but generalised the prediction to “the old industrial West as a whole”.
- Jim Kincaid: The world economy—a critical comment
International Socialism Journal nr. 119, jul 08 – side 145
Note: Chris Harman has invited comment on his recent writings on the world economy and there is certainly much for Marxists to debate. We are confronted with a global economy, hugely uneven to be sure, but which in 2007 was producing no less than 25 percent more goods and services than just six years earlier. However, many on the left, including Harman, believe that the basic tendency of the system remains inflected towards stagnation in profits and rates of accumulation—as it has been, in their view, since the 1970s.
- Chris Harman: Misreadings and misconceptions
International Socialism Journal nr. 119, jul 08 – side 159
Note: We cannot understand the system we live in or how to fight it simply by the repetition of slogans. We need serious analysis and debate. For that reason, I welcome Jim Kincaid’s rejoinder to my articles in recent issues of International Socialism. But I think it is wrong in some important respects. He misreads what has been happening to the system, does not fully grasp theoretically the dynamic of capitalism and misconstrues some of the things I have said.
- Fred Moseley: Some notes on the crunch and the crisis
International Socialism Journal nr. 119, jul 08 – side 171
Note: I agreed with much of Chris Harman’s latest article. My comments below will focus on the disagreements in order to further the discussion.
- Chris Harman: In perspective: The emperors, and their clothes
Socialist Review nr. 327, jul 08 – side 14
Note: Two new books on the state of the economy expose the speculation and greed that have propped up Gordon Brown's so-called boom years.
- Jørn Andersen: Største finanskrise siden 30erne
Socialistisk Arbejderavis nr. 279, jun 08 – side 8
Note: Den Internationale Valutafond (IMF) kaldte i april den stigende økonomiske krise for „det største finans-chok siden den store depression“ i 1930erne.
- Alex Callinicos: Spiralling oil prices threaten recession
Socialist Worker nr. 2102, maj 08 – side 4
Note: There has been a slight recovery of nerve in the financial centres of Wall Street and the City of London over the past few weeks.
- Joseph Choonara: Frontlines: No such thing as a safe bet in the market
Socialist Review nr. 325, maj 08 – side 6
Note: In April the International Monetary Fund dubbed the growing economic crisis "the largest financial shock since the Great Depression", leading to a one in four chance of a full-blown global recession.
- Alex Callinicos: Worries at the heart of system
Socialist Worker nr. 2097, apr 08 – side 4
Note: For the past few years the chief role of the International Monetary Fund (IMF) has been to act as praise-singer for global capitalism.
- Chris Harman: Our alternative to market madness
Socialist Worker nr. 2095, apr 08 – side 13
Note: Last week the Financial Times claimed that Socialist Worker had no answer to the economic crisis caused by capitalism. Chris Harman sets the record straight.
- Chris Harman: From the credit crunch to the spectre of global crisis
International Socialism Journal nr. 118, apr 08 – side 27
Note: The Financial Times displays the bewilderment afflicting those who are supposed to be providing some direction to the system as they alternate between sheer panic, fake optimism, and simply hoping things will turn out all right.
- Costas Lapavitsas: Economic crisis: the new 1929 or the new Japan?
Socialist Review nr. 324, apr 08 – side 14
Note: Costas Lapavitsas is an economist at the School of Oriental and African Studies in London. He has written extensively on Marxist theories of finance. He spoke to Socialist Review and answered questions on historical parallels with the current economic crisis and its impact.
- Anindya Bhattacharyya: Are we going back to the 1930s? The economic similarities
Socialist Worker nr. 2094, mar 08 – side 8
Note: Anindya Bhattacharyya analyses similarities and differences between the crisis then and today
- Matthew Cookson: Are we going back to the 1930s? A decade of political polarisation
Socialist Worker nr. 2094, mar 08 – side 8
Note: Matthew Cookson looks at the decade of economic turmoil and political polarisation
- Their system, their crisis – but it’s our pay, jobs and homes that are under threat
Socialist Worker nr. 2093, mar 08 – side 1
Note: The chaos of the financial system has hit new levels with the collapse of Bear Stearns, the US’s fifth largest investment bank. Now commentators fear the entire banking system is on the brink of a 1930s style collapse.
- Anindya Bhattacharyya: Why the finance crisis is a threat to whole system
Socialist Worker nr. 2093, mar 08 – side 5
Note: Financial markets across the world plummeted early this week as traders reacted with panic to the news of the collapse of Bear Stearns, one of the US’s oldest and most prestigious investment banks.
- Joseph Choonara: Shocking instability that is built into capitalism
Socialist Worker nr. 2093, mar 08 – side 5
Note: How big a mess is capitalism in? In February when New York economist Nouriel Roubini suggested $1,000-2,000 billion in losses in the financial sector alone, mainstream commentators thought he was mad.
- Alex Callinicos: Økonomi: „Vi har ikke oplevet en lignende nedgang siden Depressionen“
Socialistisk Arbejderavis nr. 276, feb 08 – side 11
Note: Fire måneder efter den eksploderede, ser det ud som om at den internationale kreditkrise forværres. I mandags [10. dec. 2007] offentliggjorde den schweiziske storbank UBS tab for op mod $10 mia.
- Chris Harman: Economic crisis: Capitalism exposed
Socialist Review nr. 322, feb 08 – side 10
Note: Every time economic crises develop they are described as aberrations in an otherwise rational and balanced system. Chris Harman looks at the roots and implications of the recent credit crunch, and explains why crises are in fact an intrinsic feature of capitalism.
- Costas Lapavitsas: Interview: the credit crunch
International Socialism Journal nr. 117, jan 08 – side 13
Note: Costas Lapavitsas, a leading Marxist economist, spoke to International Socialism about the unfolding financial crisis and its lessons.
- Alex Callinicos: What’s behind the credit crisis?
Socialist Worker nr. 2081, dec 07 – side 4
Note: Alex Callinicos looks at the fall out from the international credit crisis
- Jacob Middleton: Understanding the financial crisis: End of the World?
Socialist Worker nr. 2079, dec 07 – side 13
Note: From Northern Rock to the subprime mortgage scandal, financial markets are in turmoil. Jacob Middleton looks at what lies behind the current crisis.
- Financial graphs
Socialist Worker nr. 2079, dec 07 – side 13
Note: UK corporation tax receipts + Long term US securities transactions
- Graham Turner: Credit crunch: A house built on sand
Socialist Worker nr. 2077, nov 07 – side 8
Note: The credit crisis rumbles on. Over two million US familes could lose their homes in the subprime fiasco.
- Chris Harman: In perspective: Rate of profit warning
Socialist Review nr. 319, nov 07 – side 13
Note: No one can predict whether the recent financial crises will develop into a proper recession.
- Analysis: Market turmoil: The shape of the chaos to come?
International Socialism Journal nr. 116, okt 07 – side 3
- Graham Turner + Patrick Ward: Frontlines – Financial Crisis: The global economy – solid as a rock?
Socialist Review nr. 318, okt 07 – side 6
Note: The recent ructions in financial markets and the collapse of Northern Rock have a familiar ring.
- Lindsey German: In my view: Soft in the middle
Socialist Review nr. 318, okt 07 – side 7
Note: Anyone who has recently tried to obtain a mortgage or loan will have known Northern Rock long before the current crisis broke – it was a byword for favourable rates.
- Chris Nineham: Interview: Naomi Klein: The Shock Doctrine
Socialist Review nr. 318, okt 07 – side 24
Note: Naomi Klein talks about her new book with Chris Nineham and discusses some of the controversies it has raised.
- Sadie Robinson: Subprime crisis hits poorest Americans
Socialist Worker nr. 2070, sep 07 – side 3
Note: The recent Northern Rock crisis showed how problems in the financial markets can hit ordinary people. The chaos was caused by massive problems in the subprime mortgage industry in the US.
This threatens to wreck the lives of thousands of poor working class people across the US – and has brought to light the workings of a rogue industry of mortgage lenders.
- Alex Callinicos: How Northern Rock ended up in a hard place
Socialist Worker nr. 2069, sep 07 – side 4
Note: Bank runs were supposed to be a thing of the past, relics of the Victorian era or the Great Depression of the 1930s. But last weekend customers queued to withdraw a reported £2 billion from Northern Rock.
- Credit crunch could burst the debt bubble
Socialist Worker nr. 2069, sep 07 – side 4
Note: Socialist Worker answers questions about the current turmoil in the financial markets and its impact on banks such as Northern Rock.
- Joseph Choonara: USA: Subprime and the stock market's mortgage madness
Socialist Worker nr. 2066, sep 07 – side 13
Note: Financial markets across the world plunged recently as banks began to panic over risky housing loans in the US. Joseph Choonara takes a closer look at capitalism’s latest crisis.
- Alex Callinicos: Dancing while the economy falls
Socialist Worker nr. 2064, aug 07
Note: What's started to happen to global financial markets is very serious. Also, to anyone who knows the history of capitalism, it’s very familiar.
- Alex Callinicos: Comment: World economy on the precipice?
Socialist Worker nr. 2062, aug 07 – side 4
Note: THE WORLD economy has been floating on a sea of cheap credit for much of the present decade. The sharp falls on global stock exchanges last week may have marked the moment when the financial markets realised this era is coming to an end.
- Chris Harman: Snapshots of capitalism today and tomorrow
International Socialism Journal nr. 113, jan 07 – side 119
Note: What is really happening to world capitalism today? In this article I use diagrams and graphs to provide some snapshots of the present shape of the system, deliberately minimising wider theoretical issues, which I have dealt with elsewhere.
- Frank Antonsen: Ondt i økonomien
Socialistisk Arbejderavis nr. 217, aug 03 – side 2
Note: - ikke engang en krig mod Irak kunne sparke økonomien i gang
- Peter Iversen: Den amerikanske finansskandale: Et system der bygger på fup og svindel
Socialistisk Arbejderavis nr. 205, aug 02 – side 11
Note: Erhvervsskandalerne i USA vil ingen ende tage. Det ene store firma efter det andet bliver taget i at havet svindlet med regnskaberme. Enron-skandalen har vist sig ikke at være en enlig svale, men en blandt mange andre.
- Mikkel Birk Jespersen: Stop markedets galskab: Kapitalismen igen i krise
Socialistisk Arbejderavis nr. 200, jan 02 – side 9
Note: For første gang i tyve år oplever verdens tre økonomiske centre – USA, Europa og Japan – økonomisk nedgang samtidig.
- Margit Johansen: Boblerne brister: Enrons konkurs ryster kapitalismen
Socialistisk Arbejderavis nr. 199, dec 01 – side 4
Note: “Et af de mest succesfulde selskaber i verden overhovedet.” Sådan beskrev tidskriftet The Economist det multinationale energiselskab Enron.
- Mikkel Birk Jespersen: Terrorangrebet skabte ikke den økonomiske krise
Socialistisk Arbejderavis nr. 197, okt 01 – side 6
Note: Aktiekurserne er faldet, og flyselskaber er i store vanskeligheder, samtidig med at forbrugerne svigter, især i USA.
- The Walrus: Nothing but blue skies
Socialist Review nr. 255, sep 01 – side 6
Note: Rock bottom for the weightless economy
- David McNeill: Letter from Japan: Land of the falling yen
Socialist Review nr. 242, jun 00 – side 22
Note: Japan has gone from being the miracle economy of the 1980s to being the sick man of capitalism today. David McNeill reports on what is going wrong.
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