capital

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.

Is an over-supply of labour depressing wages?

Are trade union bureaucrats correct in saying Marx believed an over-supply of labour depresses wages? We take a look at what Marx called "the absolute general law of capitalist accumulation" to discover if this is true.

US Power and the New Course Towards War

We live, and have been living, in an epoch of capitalist decadence. Notwithstanding longer life expectancy, technological advance, and the claims of its defenders, the capitalist system is incapable of addressing existential questions such as the destruction of the environment via man-made climate change. After all, to do so would get in the way of making profits. Short-term expediency portends long term disaster.

Response: A digital capitalism Marx might enjoy

This is a response to an article originally posted on the MIT Technology review . The article claims that the nature of capital has changed so much from the newly industrialized economies Marx knew that there is a fundamental change in capitalism Marx could agree with. They take this position in favor of labor, but we will see just how good their analysis and proposal for the position of the laborer in future society is.