On Friday morning the vast majority of the world may well have a lot to celebrate, a principled socialist may have defied the ruling-class in becoming the Prime Minister of the world’s fifth largest economy. If this happens the world will never be the same again.
Unless there is a serious challenge, Britain is set to increasingly promote a failed model of international trade that will impoverish developing countries still further. It will also likely pursue an aid strategy that supports corporations, neo-liberal economic objectives and wider British foreign policy.
The Euro is murdering the nations and economies of the EU quite literally. Since the fixed currency regime came into effect, replacing national currencies in transactions in 2002, the fixed exchange rate regime has devastated industry in the periphery states of the 19 Euro members while giving disproportionate benefit to Germany. The consequence has been a little-noted industrial contraction and lack of possibility to deal with resulting banking crises. The Euro is a monetarist disaster and the EU dissolution is now pre-programmed as just one consequence.
The mismanagement of the UK economy by both the New Labour and Tory governments’ that followed the global crash of 2008 led to the poorest and weakest in society disproportionately picking up the pieces by way of savage cuts and austerity resulting from this incompetency.
If a country or region has no power to devalue, and if it is not the beneficiary of a system of fiscal equalisation, then there is nothing to stop it suffering a process of cumulative and terminal decline leading, in the end, to emigration as the only alternative to poverty or starvation.
Across the Continent, the unelected officials who have usurped the power of national governments and asserted their right to determine the fates of countless millions, through their adherence to the damaging creed of neoliberalism, have wrought suffering on an unimaginable scale, casting millions into poverty and removing the last vestige of dignity people cling to in an economy that has fallen prey to the voracious claims of big business.
The spate of strikes throughout France show that working class militancy remains strong. But the labour movement needs to break with class collaboration and social democracy if it is to succeed in advancing the cause of the poor.
By featuring some perspectives whilst excluding others, UK media has played a crucial role in the legitimisation of austerity policies.
The media cannot tell people what to think in a simple manner. However by featuring some perspectives whilst excluding others it plays a crucial role in the legitimisation of policy and the exercise of power.
“Print the money” has been called crazy talk, but it may be the only sane solution to a $19 trillion federal debt that has doubled in the last 10 years. The solution of Abraham Lincoln and the American colonists can still work today. “Reckless,” “alarming,” “disastrous,” “swashbuckling,” “playing with fire,” “crazy talk,” “lost in a forest of nonsense”: these are […]
Whatever the ideas you have about what your politics are, you are captured by bourgeois interests that keep your actual interests in maintaining the status quo–more so for housing than for student debt, I’d say. So, yeah, debt is the price you have to pay to be in the middle class. It’s also the price you pay to be invested in a system you don’t want.
The American “New Economy” is the American Third World economy in which the only jobs created are low productivity, low paid nontradable domestic service jobs incapable of producing export earnings with which to pay for the goods and services produced offshore for US consumption.
The fight that the government has picked with junior doctors is just part of the present attack on the NHS and its staff. Cameron and Hunt are using the vague promise of ‘a truly 7 day NHS’ to impose a contract on junior doctors, in the hope and expectation that if they win they will roll out these changes to other NHS staff. They think the public’s interest and support will wane but we must not let this happen.