Capitalism’s recurring crises have long fueled predictions of its inevitable demise. Vivek Chibber explains why breakdown isn’t guaranteed — and why political agency, not historical laws, will determine what comes next.

Georgia State Representative Gabriel Sanchez addresses a crowd of protesters in Atlanta, on April 5, 2025.

A New Single-Payer Effort Is Underway in Georgia

With Bernie Sanders no longer leading the charge, Medicare for All has slipped from the spotlight. But a new state-level single-payer bill in Georgia — where Republicans refused to expand Medicaid and 1.2 million people are uninsured — shows signs of life.

Russian President Vladimir Putin attends a ceremony to lay flowers at the Tomb of the Unknown Soldier by the Kremlin wall in central Moscow on May 9, 2026.

Russia’s War Machine Is Creaking

Russia’s war economy has this year suffered some of its worst setbacks since the invasion of Ukraine. An under-strain Russian society isn’t revolting yet. But Russians’ doubts about the war are growing.

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Jacobin is a leading voice of the American left, offering socialist perspectives on politics, economics, and culture.

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Socialism cannot mean merely managing capitalism more fairly. It must point toward a society where survival is no longer contingent on the market — and where democracy extends into the economy itself.

Nebraska senatorial candidate Dan Osborn is pictured on the campaign trail in 2024.

Labor Can’t Remain Shackled to the Democrats

In much of the US, Democrats’ reputation is utterly toxic to working-class voters. Running independent candidates may be the way forward for labor and the Left in many regions — potentially planting the seeds of a new party.

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Jacobin is a leading voice of the American left, offering socialist perspectives on politics, economics, and culture.

$29.95
1 Year / 4 Issues
Digital Subscription
$39.95
1 Year / 4 Issues
Print + Digital Subscription