This article, written by Hannah Sell, was originally published in the June 2021 issue of Socialism Today, the monthly magazine published by our co-thinkers in the Socialist Party of England & Wales. The Independent Socialist Group stands in solidarity with the Socialist Party as part of the Committee for a Workers’ International. Unlike many otherContinue reading “Will China’s Bubble Burst?”
Capitalism’s “labor shortage” from the perspective of a tipped worker.
by Jai Chavis In October 2020, wealth data showed that the 50 richest Americans owned as much wealth as the bottom 50% of the US population, a stark reminder of how extreme income inequality and profit accumulation has become in the past few years. Inequality has accelerated through the huge profits gained by the richestContinue reading “Rich Dodge Paying Taxes by the Billions”
The following is an article that was originally published on socialistworld.net, the website of the Committee for a Workers’ International on January 13th by Robin Clapp, Socialist Party of England and Wales For over a year, the Covid-19 pandemic has wreaked havoc across the globe, causing over two million deaths and unleashing enormous economic and socialContinue reading “Global capitalism at most perilous since 1930s”
Every year, in every crisis, the rich have gotten richer, while the working class struggles to keep its head above water. Capitalism entails booms and busts where workers rarely benefit from the booms and are always hurt by the busts. As entire sections of the workforce either lost their jobs or have been unable to work due to COVID-19, the inevitable economic crash has come to a head once again—with this recession promising to be much more severe than the last. But this pandemic doesn’t need to be a death sentence for the working class.
As Trump bails out his capitalist friends, workers are forced to sacrifice their health to keep the economy running. Americans are struggling to decide “do I work and risk infection or stay home and lose income?” We need a plan for combating the pandemic and safely re-opening the economy that doesn’t risk workers’ lives. Workers can organize for a safe re-opening and a new, socialist system that prioritizes people over profits.
As the capitalist economy hurls deeper into recession, the federal government and central banks are producing trillions of dollars that they conveniently couldn’t find for increasing the federal minimum wage or other needed social benefits. The trillions of dollars being released during the COVID-19 crisis are mostly being dumped into the pockets of the rich and corporations in a failed effort to prop up the stock market.
This statement from the International Secretariat of the Committee for a Workers’ International was originally published on socialistworld.net, the website of the CWI. The outbreak of the coronavirus pandemic has plunged world capitalism and society into an entirely new era of turmoil and upheaval. In country after country, as the pandemic has taken hold, itContinue reading “Coronavirus plunges capitalism into global turmoil -The need for a socialist alternative”
This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. The biggest one-day fall in stock markets since the financial crisis; an oil price war between Saudi Arabia and Russia; and the fastest drop in the cost of oil for 30 years. The impact of coronavirus on an alreadyContinue reading “Coronavirus infects world economy”
This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Last week, US President Donald Trump announced that under the rarely invoked International Emergency Economic Powers Act, the Chinese telecoms giant Huawei and seventy of its affiliated companies are set to be added to the ‘Entity List’. This effectivelyContinue reading “What lies behind the US-China trade war?”