The Economy

Imperialism and the New Free Trade Deals

free-tradeThe epoch of world growth fueled by globalization is over. Two giant free trade deals are being thrashed out which would place the United States at the center of its own strategically drawn up domain, stretching from both sides of the pacific to Eastern Europe. But far from being a means to open up the world to a further intensification of trade and to liberate capitalism from its own fetters, these deals engineered by US imperialism in its own interests would carve up the world into two or more power blocs waging economic war with one another. It is protectionism masquerading as free trade.

Bitcoin: Utopian Reflection of a Capitalist Nightmare

bitcoinThe digital currency Bitcoin has hit the headlines in recent times for its novelty, as well as for its phenomenal rise in price over the past few years. But how much of the Bitcoin sensation is hype, and what is the reality?

 

"Let Them Eat Insects"—Food and the Future of Capitalism

insect plate lRecently the Food and Agriculture Organisation (FAO) released a report that came up with a novel idea: convince the world population to eat insects to avert mass hunger. In reality it is already possible to feed everyone without the need to eat bugs. What stands in the way is the “market”, i.e. capitalism.

 

Socialism—the Only Alternative to Austerity

jeff mcneill-capitalism isnt working at g20Reform or revolution? This has been the main ideological debate in the labour movement for the past century. Today, the crisis of capitalism poses the question sharply. Unlike in the past, however, the material basis for reformism has been eroded. The cupboard is bare. Austerity, heightened class struggle, and revolutionary upheaval are on the order of the day.

Why Keynesianism is Unable to Solve Today's Crisis

digging-a-holeThe world economy has been mired in a deep crisis since 2007. The bourgeois have tried everything to climb out of the crisis, from quantitative easing, to zero interest rates, to the socialization of banking losses, but all to no avail. Why is it that a modern-day version of Keynesianism cannot work?