Kissing Goodbye To Their Koreas – Black Flag
A 1998 article from Black Flag contrasting the emerging "tiger" economies with the uprisings in Mexico and Albania.
Lies, Damn Lies and Economics – Black Flag
Joan Robinson once said that the point of studying economics was to be able to work out when economists were lying. Being a left-wing Keynesian, she was immune to the usual ideological (if not religious) biases of mainstream economics. Her point is both correct, and usually ignored because economics has far more to do with ideology than facts, belief than science.
The Shadow of September 2008 Continues to Lengthen
Submitted by Internationalis... on Nov 13 2019 12:55
It is now 11 years since the bankruptcy of Lehman Brothers. The crisis in the real economy, instead of fading from memory, has become a fixture.
Capitalism's New Economy: The Working Class
Submitted by Internationalis... on Sep 10 2019 20:26
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.
Capitalism's New Economy: The Illusion of a Productive Economy
Submitted by Internationalis... on Aug 11 2019 15:41
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.
Audit of the Crisis
Midnight Notes' certified struggle accountants present a global balance sheet for the late 1970s and early 1980s.
Capitalism's New Economy: The Booming Financial Sector
Submitted by Internationalis... on Jul 31 2019 13:42
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'.
A Decade Since the Financial Crash
Submitted by Internationalis... on Jan 25 2019 11:40
The world economy is in poor shape and the American economy is in even worse condition. The 2008 crisis has not been resolved and many analysts fear a new financial explosion. Capital continues to stay clear of investment in production and is trying to recover without running up more debts. Company returns are low, profit rates are decreasing. Capital is moving more and more into speculation. It is the same old situation, except that the rescue costs of the previous crisis cannot be repeated in the next crisis. The sound of war can be heard in the distance, accompanied by the rising threat of a new, catastrophic barbarism.
Fight Capitalism - Not its Symptoms
Submitted by Internationalis... on Jan 24 2019 11:45
A growing gulf between the ‘haves’ and ‘have-nots’ is in itself only a symptom of the disease. The real problem is that capitalism in crisis has nothing left to offer but increasing misery for the mass of the population. And 2019 will be no different.
