New recession fear stalks the world economy

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. 2018 marked ten years since the collapse of Lehman Brothers bank which plunged the world economy into the deepest economic recession since the 1930s. The financial virus spread quickly, causing production and trade to seize up. Only swift coordinatedContinue reading “New recession fear stalks the world economy”

10 years since the financial crash

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. The socialist answer to capitalist crisis   On 15 September this year, a posh get together takes place at a secret venue in London. At it, top bankers who were part of Lehman Brothers – once the fourth largestContinue reading “10 years since the financial crash”

World Economy: ‘Biggest danger to capitalism is capitalism’

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Steel plant to close after a century of production, raw material prices collapsing, China’s economy slowing, the ongoing euro crisis… Eight years on from the crash that led to the great recession, the global monetary system remains unreformed andContinue reading “World Economy: ‘Biggest danger to capitalism is capitalism’”

Economy: What low oil prices cost the world economy

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. The sudden plunge of oil and gas prices has underlined the volatility in the world capitalist economy The shale oil revolution in the US and Canada has produced a world oil glut – and a slump in investment inContinue reading “Economy: What low oil prices cost the world economy”

UN: Arms Trade Treaty negotiations expose hypocrisy of industry

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. After a month of negotiations on an Arms Trade Treaty at the United Nations in New York, the discussions came to an ignominious end last Friday when, first the United States and then Russia and China, pulled the plugContinue reading “UN: Arms Trade Treaty negotiations expose hypocrisy of industry”

World economy: £13 trillion hidden from tax by super-rich

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Take the wealth off the 1%! A sum of money the size of the US and Japanese Gross Domestic Product (GDP) together is being held in offshore tax havens. This enormous hoard could immediately pay off most of theContinue reading “World economy: £13 trillion hidden from tax by super-rich”

World Economy: Just 147 companies control 40% of global wealth

This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Study finds 1% of corporations control world economy The sovereign debt and eurozone crises, the Great Recession, etc, have all focussed attention on the failings of the banking sector and the greedy giant capitalist corporations. But exactly how powerfulContinue reading “World Economy: Just 147 companies control 40% of global wealth”