Economy

The PSTU’s programme in the national elections proposes the expropriation of the fortunes and properties of billionaires and of the 100 biggest companies in the country. It is normal to be surprised by this, after all, we have been conditioned to think that, if we work hard, study and have enough talent, we can get […]

Ecuador, Sri Lanka, Panama and Great Britain… When we write this article, the workers and popular masses in Panama follow in the footsteps of their Ecuadorian and Sinhalese (Sri Lanka) brothers and sisters: they paralyze the country, demand the reduction of fuel prices and the “canasta básica” (a measure of a basic basket of goods […]

One of the most important points of any constitution is the right to property. By MIT-Chile This right refers to the ownership of a house, a small business or a car, but also to the ownership of buildings, mines, factories, harbours, banks, companies, supermarket chains, large estates, etc. This second aspect is the most important […]

The publishing of the Pandora Papers report is causing a lot of upheavals and, with different dimensions, may cause or deepen political crises in some countries.

Last August, the US economy created far fewer jobs than expected[1]. For bourgeois analysts, this data and that of inflation have turned on the caution light, in this country and in the world, on the character and dynamics of the ongoing recovery of the world economy. by Alejandro Iturbe, translated to English by John Wolf […]

Introduction Most of the left-wing currents put into question the strategy of the socialist revolution as well as the role of the industrial proletariat as the social subject of this revolution. That stand got stronger after the earthquake that shook the leftwing due to the overthrow of the world Stalinist apparatus in Eastern Europe.   In […]

Today is the 150th anniversary of the beginning of the Paris Commune.  The Commune (Council) was formed as result of what should be considered the first uprising and revolution led by the working class in history.  This new class was the product of the industrial revolution in the capitalist mode of production that Marx and Engels […]

2020 was a terrible year for workers around the world. The combination of the worst pandemic since the Spanish flu of 1918 and the worst world recession since 1929, has caused the death of 2.5 million people (in official figures, it must be many more) and hundreds of millions of unemployed. However, it is not […]

The bourgeois governments and the press highlight the recovery of the world economy for the third quarter of this year and sing praises to the “new normality” that allowed it. A deeper look, however, shows a different reality. 

The IMF-World Bank semi-annual meeting starts this week.  Earlier the IMF kicked off the show with a warning that the poor countries of the world are heading for a catastrophe from the pandemic slump, leading to defaults on the debts that their governments and companies owe to investors and banks in the ‘global north’.

Recently, the Pope made statements in which he denounced that the coronavirus pandemic aggravated the “social inequalities” characteristic of the current economy. What is the objective of this denunciation?

“It is now clear that we have entered a recession – as bad as or worse than in 2009,” said Kristalina Georgieva, managing director of the International Monetary Fund (IMF), in late March [1]. Actually, the announcement only confirmed an ongoing trend long before the pandemic but is now undeniable. By Daniel Sugasti On April […]

The effects of the pandemic on the already existing trend of decline in the world economy are already causing several speculative bubbles to deflate and for other bubbles to threaten to burst.

Socialism means workers’ democracy and planned management of the economy. Only in a working-class democracy can the working class dominate and effectively rule

  The world is experiencing a succession of convulsive processes of the class struggle, with revolutionary ascents (such as those lived in Chile, Haiti, Hong Kong, Lebanon, Iraq, and others), and also counter-revolutionary coups (as in Bolivia).              It is important to identify that there is a material basis for that reality, which has to […]

As we enter October, the global recession is with us – in manufacturing.  The PMI manufacturing activity indexes for most of the major economies are below 50, the threshold for expansion or contraction.  These are only surveys of corporate managers asking them about production, sales, employment etc.  But PMIs have been reasonably accurate indicators of […]