Tag: economy

Debate in the Fourth International Part III: Capitalism’s World Economic, Political and Social Crises and the Coming Fightback

By JEFF MACKLER, for Socialist Action/USA This is the third and final text presented by Socialist Action as a minority viewpoint to the February 19-23, 2022 meeting of the Fourth International (FI), an international socialist current of some 56 parties across the globe. Some 150 representatives of these parties gathered this year via Zoom due to the COVID 19 crisis to discuss and debate the Fourth International’s politics and program. The politics in the report below were adopted by the National Committee of Socialist Action/USA, a fraternal party of the FI barred by reactionary U.S. legislation from being a formal member of any international socialist organization. The text below was rejected by the February FI meeting by the vast majority of delegates. The central thesis of the majority text asserts that the building of revolutionary socialist parties on the Leninist model anywhere in the world today is not on the agenda. The text below, slighted updated to cover developments since the February FI meeting, challenges this view in all its fundamentals.

Europe hit by economic slowdown

By MICHAEL SCHREIBER Below are portions of the World Political Situation Report, delivered by Michael Schreiber to the Socialist Action National Convention on Oct. 18. Capitalism’s offensive against the world’s working class—which gathered momentum as a consequence of the major economic recession that began in late 2007—continues unabated. Even in the major industrial nations, the … Continue reading Europe hit by economic slowdown →

The real roots of the U.S. economic crisis

By BRUCE PARDOLL I think that a comprehensive understanding of how the present U.S. economic crisis came about, and how things have considerably worsened not only since December 2007—when the Great Recession began—but also since 1974 (when wages for the working class began a steady downward slide) is greatly needed. Marxism is uniquely qualified to … Continue reading The real roots of the U.S. economic crisis →

Capitalism damns the environment

By JEFF MACKLER Capitalism, the system—Chinese, American, or European style—has struck yet another devastating blow against all humanity. One of the world’s largest solar-panel manufacturing plants, employing 10,000 Chinese workers at the city of Wuxi on China’s east coast, has declared bankruptcy—a victim of its own “success” and capitalism’s inherent drive to destruction. The Wuxi … Continue reading Capitalism damns the environment →

Congress: Smaller paychecks for workers

By USMAN KHAN YUSUFZAI New Year’s Day has come and gone; the impending “fiscal cliff” disaster that so occupied the fears of politicos and businessmen throughout the country has, at the 11th hour, been averted by heroic deal-making by Republican and Democratic legislators. They made some  “tough decisions” in the face of the (manufactured) crisis … Continue reading Congress: Smaller paychecks for workers →

The socialist answer to capitalist crisis

We present below the first of a series of resolutions on key issues in U.S. and world politics that were approved by the elected delegates to the 15th National Convention of Socialist Action, held in Minneapolis last Aug. 16-19. Socialist Action is the fraternal U.S. section of the Fourth International, founded by Leon Trotsky and … Continue reading The socialist answer to capitalist crisis →

Occupy’s “Strike Debt” Campaign

By ANDREW POLLACK From its beginning Occupy Wall Street has had a focus on debt—student, homeowner, health care, etc.—and has encouraged debt refusal and resistance. Part of the logic behind that focus is the tens of millions affected by debt, and their common interest in rejecting the misery imposed on them by the huge financial … Continue reading Occupy’s “Strike Debt” Campaign →