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The Economic Crisis

Behind the Lebanese apocalypse

Posted on 29th September 2020 by Richard Donnelly

On 4 August a massive explosion shook Beirut port when a neglected storehouse of ammonium nitrate blew up, catapulting Lebanon onto the front pages of the global media. The volatile chemical was being stored next to the country’s main grain… Continue Reading →

Article Arab revolution, finance, Lebanon, Middle East, The Economic Crisis

Pandemic economics

Posted on 13th July 2020 by Richard Donnelly

Around 2.7 billion workers worldwide have been affected by full or partial lockdown measures to combat the coronavirus pandemic—around 81 percent of the world’s 3.3 billion workforce. The world economy has seen nothing like this. Nearly all economic forecasts for… Continue Reading →

Article coronavirus, Long depression, political economy, The Economic Crisis

A triple crisis

Posted on 6th July 2020 by Richard Donnelly

Marx says that revolutions are the locomotive of world history. But perhaps it is quite otherwise. Perhaps revolutions are an attempt by the passengers on this train—namely, the human race—to activate the emergency brake. Walter Benjamin, 1940, Notes for “On… Continue Reading →

Analysis coronavirus, Ecology, Health, Labour Party, The Economic Crisis, The United States, Tories

Socialism in a time of pandemics

Posted on 22nd March 2020 by Richard Donnelly

It is tempting to see pandemics as unpredictable, cataclysmic incursions of nature into human society.1 Yet the outbreak of Coronavirus Disease 2019 (Covid-19) is anything but a “natural” phenomenon. Epidemics and pandemics happen in a social, political and economic context,… Continue Reading →

Analysis Agriculture, coronavirus, Ecology, Economics, Health, health and social care, The Economic Crisis

Legends of the fall

Posted on 11th October 2018 by Camilla

The tenth anniversary of the collapse of the Wall Street investment bank Lehman Brothers on 15 September 2018 has attracted enormous coverage.1 The focus has less been on the actual event itself—indeed Albert Edwards of Société Générale argues that its… Continue Reading →

Analysis Jeremy Corbyn, The Economic Crisis, the far right

The global crawl continues

Posted on 24th June 2015 by Camilla

In my last article for International Socialism 18 months ago I argued that the Great Recession of 2008-9 that devastated the world capitalist economy had not been followed by a recovery in investment and output in the “normal” way, as… Continue Reading →

Article Economics, The Economic Crisis

Financial times

Posted on 2nd April 2014 by ISJ

A review of Costas Lapavitsas, Profiting Without Producing: How Finance Exploits Us All (Verso, 2013), £20 In the substantial body of Marxist literature emerging in the wake of the economic crisis that began in 2007-8, two broad positions have been… Continue Reading →

Analysis Economics, The Economic Crisis

From global slump to long depression

Posted on 7th October 2013 by ISJ

It is now six years since the first rumblings of the earthquake that was the global financial crash and the Great Recession. On 9 August 2007 BNP Paribas announced that it was closing down two of its funds of US… Continue Reading →

Analysis Economics, The Economic Crisis

Round-up on political economy

Posted on 9th October 2012 by ISJ

The global capitalist crisis has now reached its half-decade point, and the months leading up to this unhappy anniversary saw the publication of a number of interesting papers on Marxist political economy. Here I will briefly survey some of them,… Continue Reading →

Analysis Economics, The Economic Crisis

The impact of the crisis on the working class in Britain

Posted on 9th October 2012 by ISJ

Throughout the crisis sensationalist claims have emerged on both the right and the left that the crisis would lead to a catastrophic and immediate rise in joblessness or, conversely, that it is really not that bad. This article examines exactly… Continue Reading →

Analysis Class, The Economic Crisis, Working class

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