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capital

Between Robots and Cryptocurrency

We recently published online an article from the December issue of Prometeo In Absorbing Science and Technology, Capital is Digging its Own Grave which sought to show how the heralded brave new world of technological development actually spells increasing woes for capitalism rather than its relief from crisis. Some news on both automation and cryptocurrency adds to our analysis.

In Absorbing Science and Technology, Capital is Digging its Own Grave

Capitalism is now undergoing a technological and scientific modernisation that is becoming a bomb ready to blow up the whole system. Humanity finds itself swept along in a vortex of technological innovations and automation.

The Machine and Its Discontents: A Fredy Perlman Anthology

A new Fredy Perlman anthology, joint published by Active Distribution and Theory and Practice 2018.

Capitalism's New Economy: The Working Class

On re-reading this piece, what is striking about the picture of the working class in capitalism's self-styled service economy in 2006 is how much it resembles the situation today. After decades of capitalist restructuring in the face of problems stemming from the declining rate of profit (problems by no means confined to the economy of the UK) there are now recognisable constants in the socio-economic profile of the 'restructured' working class.

Zealots and ditherers

The UK government seems hell-bent on crashing out of the European Union without a deal on 31 October. What does this say about the politics of the ruling class?

Capitalism's New Economy: The Illusion of a Productive Economy

Part four of this article was written before the biggest financial crash was followed by the biggest banking bail-out in capitalism's history, yet it is interesting to see that essentially the same economic profile presents itself today.

Capitalism's New Economy: The Booming Financial Sector

Part three of this series was published in 2005, two years or so before the great financial crash when the economic pundits were lauding the move away from manufacture to 'business and financial services'.

Capitalism's New Economy: The Value of Capitalist Services

This second article in our series examines what is meant by ‘services’ and their apparently key role in the richest capitalist states where moving away from production of commodities is regarded as essential to economic advancement. Indeed, despite the setback of the 2007/8 financial crash, World Bank figures show that ‘services’ represent a higher proportion of GDP for the world economy as a whole. For the UK 77.4% of GDP was attributed to ‘services’ in 2018.

Capitalism's New Economy: The Case of the UK

The article here, the first in a series on what was then dubbed the "new economy", originally appeared in the CWO's political journal, Revolutionary Perspectives, in 2005.