Britain to launch national day of action against austerity.
Since the beginning of the Eurozone crisis in 2008, most attention has been focused on the recurring and persistent struggles against ‘austerity’. Austerity, in this sense, refers to the politics of cutting public spending – primarily in the areas of social programs like unemployment benefits, disability benefits, ‘public goods’ such as legal aid programs, public … More Collective Bargaining and the Eurozone Crisis
Revealed: how the wealth gap holds back economic growth | Business | The Guardian. The west’s leading economic thinktank on Tuesday dismissed the concept of trickle-down economics as it found that the UK economy would have been more than 20% bigger had the gap between rich and poor not widened since the 1980s. Publishing its … More Revealed: how the wealth gap holds back economic growth | Business | The Guardian
Austerity has been an utter disaster for the eurozone | Business | The Guardian. Austerity has been an utter and unmitigated disaster, which has become increasingly apparent as European Union economies once again face stagnation, if not a triple-dip recession. Photograph: Vladimir Rys/Getty Images “If the facts don’t fit the theory, change the theory,” … More Austerity has been an utter disaster for the eurozone | Business | The Guardian
Most of the coverage regarding the Eurozone crisis has understandably focused on the politics of austerity. Less attention, however, has been paid to the longer term trends in the industrial relations of those countries hardest hit by the crisis: Portugal, Italy, Ireland, Greece and Spain; the so-called PIIGS countries. Recent data from the European Industrial … More Capital, Labour, and the Eurozone Crisis
Savage capitalism is back – and it will not tame itself | David Graeber | Comment is free | The Guardian. Occupy Wall Street protesters in New York’s Times Square. ‘A miserly 1% are presiding over a social order marked by increasing social, economic and even technological stagnation.’ Photograph: Mario Tama/Getty Images Back in the … More Savage capitalism is back – and it will not tame itself | David Graeber | Comment is free | The Guardian
Britain’s five richest families worth more than poorest 20% | Business | The Guardian. The scale of Britain’s growing inequality is revealed by a report from a leading charity showing that the country’s five richest families now own more wealth than the poorest 20% of the population. Oxfam urged the chancellor George Osborne to use … More Britain’s five richest families worth more than poorest 20% | Business | The Guardian
Spain’s poor affected the most among OECD nations in financial downturn | World news | theguardian.com. Spain‘s poorest have been hit harder than any other group in any OECD country in the years of financial crisis and downturn, according to the OECD. While the wealthiest 10% of Spaniards saw their income fall by barely 1% … More Spain’s poor affected the most among OECD nations in financial downturn | World news | theguardian.com
New Left Project | Articles | Underestimating Capital, Overestimating Labour: A Response to Andrew Kliman. What caused the 2008 economic crisis? In an article published earlier this year by Jacobin, the Canadian political economist Sam Gindin explained it as ‘a primarily financial crisis.’ Writing for New Left Project, Andrew Klimanrejected this analysis, arguing that, had the crisis really been mainly financial, … More New Left Project | Articles | Underestimating Capital, Overestimating Labour: A Response to Andrew Kliman
As usual, on the rare occasion that the IMF actually understands the destructive nature of austerity policies, it is too little too late. IMF Urges Redistribution To Tackle Growing Inequality. Washington – The International Monetary Fund (IMF) is wading strongly into the global debate over the impact of growing income inequality, offering a series of controversial … More IMF Urges Redistribution To Tackle Growing Inequality
Capital courts: how corporations can hold governments to ransom Transnational corporations have won shocking powers to sue sovereign states, writes John Hilary, and they are not shy of using them February 2014 via Capital courts: how corporations can hold governments to ransom | Red Pepper.
Radical Democracy and Collective Movements in Greece, Spain | Euro Crisis in the Press. By Marina Prentoulis and Lasse Thomassen The 2011 movements of the squares, the ‘aganaktismenoi’ and ‘indignados’ as they came to be known in Greece and Spain respectively, brought to the forefront old and unresolved debates on the Left. During the crisis … More Radical Democracy and Collective Movements in Greece, Spain | Euro Crisis in the Press
7 March 2014 Cecilia Olivet Profiting from Crisis is a story about how corporations, backed by lawyers, are using international investment agreements to scavenge for profits by suing governments from Europe’s crisis countries. It shows how the global investment regime thrives on economic crises, but is very uneven in who it benefits. While speculators making … More How corporations and lawyers are scavenging profits from Europe’s crisis countries
The Middle Class Is Steadily Eroding. Just Ask the Business World. – NYTimes.com. In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at … More The Middle Class Is Steadily Eroding. Just Ask the Business World. – NYTimes.com
Karl Marx’s Revenge: Class Struggle Grows Around the World | TIME.com. Karl Marx was supposed to be dead and buried. With the collapse of the Soviet Union and China’s Great Leap Forward into capitalism, communism faded into the quaint backdrop of James Bond movies or the deviant mantra of Kim Jong Un. The class conflict … More Karl Marx’s Revenge: Class Struggle Grows Around the World | TIME.com