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
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.
Capitalism's New Economy: The Illusion of a Productive Economy
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
A Decade Since the Financial Crash
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.