Capitalism's New Economy: The Illusion of a Productive Economy

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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. For all the 'quantitative easing' — in the case of the UK via the Bank of England's injection of a nominal £435 bn of government bonds into the...

Welcome to Klasbatalo as Canadian Affiliate of the Internationalist Communist Tendency

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The Internationalist Communist Tendency (ICT) and Klasbatalo are pleased to announce that from this point on Klasbatalo has become the Canadian affiliate of the ICT. This will be no surprise to those who have been watching the steady growth in our relations over the last two years but our contacts with the original nucleus of Klasbatalo go back slightly further.

Reflections on the Student Movement in the UK

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In 2010 the announcement by the Coalition government that university tuition fees would be tripled sparked a wave of student protest. Remaining largely within the confines of the campus, the movement exhausted itself and failed to spread to other sectors. Nine years later, what’s left? · The Students · Between 1965 and 1975, under the recommendations of the Robbins Report, university provision in...

OPEC, Iran, and the Libyan Civil War

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The rising tensions in the Persian Gulf in the past weeks can be easily attributed to a sharp crisis of overproduction in the international oil market, ongoing since 2014. One relevant theater for understanding recent developments therefore lies in the largely under-reported and often overlooked Libyan Civil War, and in particular in its wide-ranging implications for OPEC (Organization of the...

Capitalism's New Economy: The Booming Financial Sector

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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'. In 2008 the banking and wider financial bodies were saved and the appearance of capitalist 'normality' maintained only by the concerted injection of gargantuan amounts of...

The Drums of War in the Gulf

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The article which follows is taken from the new edition of Revolutionary Perspectives (#14) which is just out. It was obviously written before the events which followed the British Navy’s seizure of the Iranian tanker, the Grace 1, off the coast of Gibraltar, but the substance of the analysis has not changed.

Thunberg's Call for General Strikes: The Confusions of a Liberal Protest

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On May 23rd Greta Thunberg and 46 other spokespeople for the Youth Climate Protest (YCP) issued a statement before their latest day of action. At the heart of the statement was an "invitation" which we quote in full to accurately reflect its content. · YCP's statement reads - "Starting on Friday 20 September we will kickstart a week of climate action with a worldwide strike for the climate.

Capitalism's New Economy: The Value of Capitalist Services

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This second article in our series examines what is meant by ‘services’ and their apparently key role in the richest capitalist states where moving away from production of commodities is regarded as essential to economic advancement. Indeed, despite the setback of the 2007/8 financial crash, World Bank figures show that ‘services’ represent a higher proportion of GDP for the world economy as a...

Capitalism's New Economy: The Case of the UK

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The article here, the first in a series on what was then dubbed the "new economy", originally appeared in the CWO's political journal, Revolutionary Perspectives, in 2005. After thirty years or so of economic crisis, a crisis that still haunts capitalism today and which more than ever threatens the future of humanity, the US and its advanced capitalist allies had managed to offload much of...

Sudan: The Dictator Goes but the Regime Lives On

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Since December last year Sudan has been seething but it now looks like the Army have reasserted control. What started as bread riots last December, in the historic working class city of Atbara, transformed itself into a campaign of mass civil disobedience. In a country where 60% of the population are under 25 and 27% of these are unemployed it is not surprising that they should be in the vanguard...

The Attack on Two Oil Tankers in the Gulf of Oman

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On the morning of June 13, two oil tankers were attacked in the Gulf of Oman. One was the Front Altair, owned by the Norwegian company Frontline, but flying the flag of the Marshall Islands. It was carrying a cargo of ethanol from Qatar to Taiwan. The second was the Kokuka Courageous of the Japanese company, Kokuka Sangyo, flying the Panamanian flag which was carrying methanol from Saudi Arabia...

Italy: The Failure of the “Populist” Coalition

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For those who think that the political and economic incompetence of our rulers is confined to the Anglo-Saxon states the following article from our Italian comrades, written just before the European elections, only underlines the same sorry story for Italian capitalism. The salient fact is that there is no viable capitalist solution to the global economic crisis which continues to bring only...

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