June 2010

Socialism and Sustainability: People and Nature Before Profits

Editor's note: The following is excerpted from a longer speech.

Economic Crisis, Financialization, and a New Model of Governance

The economic crisis is nearly two years old.

Capitalism “Indian-style”

Original source: People's Democracy (India) To those fearful of any challenge to private property and the unbridled accumulation of capital, India’s recent growth experience serves as a new “model.” The evidence indicates that in most poor countries modern industry is unequal to the task of ensuring adequate employment to support the diversification of economic activity away from agriculture.

From Financial Crisis to Job Crisis and Wage Depression

Original source: People's Democracy The structural crisis of the capitalist system, which had been worsening for decades, has now reached a point where it requires urgent attention in every region of the globe.

Capitalism is Responsible for Environmental Deterioration

Capitalism cannot regulate and much less solve the current world crisis, in particular the ecological situation because to do so, it would require limiting riches and that option is unacceptable for a system whose objective is only money.

Working-class Intellectuals

Editor's note: We have to take every opportunity to oppose what may be called the Sarah Palinization of working-class politics, that is the reduction of politics to sound bites, appeals to wedge issues and hate, and promotion of the idea that working people can't think for themselves.

Capitalism’s Self-Destructive Spontaneity

Original source: People's DemocracyUnder the Gold Standard the values of different currencies were fixed in terms of gold, which meant that the exchange rates between those currencies were fixed.