The United Kingdom is headed for a massive economic crash. Unsurprisingly, the Tories’ proposals for fixing it fall far short. We need significant intervention by the state, not a wild throwing of money at corporations and praying they’ll use it to help us.
Grace Blakeley is a staff writer at Tribune, and the author of Stolen: How to Save the World from Financialisation.
More low-income voters backed the Tories than the Labour Party in the 2019 election for the first time ever. Labour’s decision to side with the establishment rather than the voters over Brexit pushed them into the Tories’ arms.
Stock markets across the world are rallying as lockdowns lift and central banks pump money into the economy. But the economy isn’t on the mend — on the contrary, this will likely be a calm before the storm of yet another devastating crash.
A new book uncovers the reality of America’s victory in the Cold War — detailing how massacres of leftists in twenty-two countries helped to overcome resistance to capitalism across the world, writes Grace Blakeley.
The links between business, finance, and the state do not represent a perversion of liberal democracy — they are an unavoidable feature of capitalist political economy.
An important new book, Sabotage: The Hidden Nature of Finance, skewers the destructive role of finance in our economic system. But its authors shy away from the radical implications of their analysis and end up peddling technocratic illusions about the necessary cure.
Despite this weekend’s defeat for the Left in the leadership election, Jeremy Corbyn’s democratic socialism remains hugely popular among Labour members – and the only way out of the economic crisis we find ourselves in. As Corbyn himself put it: “There is no such thing as Corbynism. There is socialism.”
In 2008, they told us not to “politicize” the crash. We ended up with a decade of austerity. The coronavirus crisis will reshape the economy in profound ways — now is the time to make socialist arguments about how to respond.
Today’s coronavirus crash in the stock market exposed the frailty of global capitalism. With governments tapped out on quantitative easing, only significant public investment on the scale of a Green New Deal can prevent a slump.
Rebecca Long-Bailey’s “aspirational socialism” is an attempt to overcome a pervasive problem: after a decade of austerity, many working people don’t believe that politics can make their lives better.
This is not the time to abandon the socialist policies that would most improve lives in the very areas Labour lost. Instead, we must build a more effective movement that can win them.
Not long after Margaret Thatcher rose to power forty years ago, she decimated huge swaths of Britain with deindustrialization, privatization, and cuts. Those same areas now have the opportunity in this election to bury her legacy once and for all.
Labour’s plans to invest in a million green jobs can transform the very parts of Britain decimated by Margaret Thatcher’s economic reforms — and begin to undo the damage of deindustrialization.
Tory governments since Margaret Thatcher have starved Britain of investment, fueling inequity and leaving its infrastructure to crumble. It’s up to Jeremy Corbyn’s Labour Party to rebuild the country and invest in the future.
International speculators are playing games with our housing market — and we’re the ones losing.
Financialization isn’t a perversion of an otherwise well-functioning system. It’s just capitalism’s latest survival mechanism.