Capitalist crisis deepens – no recovery in sight as economy heads for depression

The world crisis of capitalism has entered a new stage. Rather than recover, several countries are showing features of a depression. This is an unprecedented situation and shows the deep malaise affecting the capitalist system, still reeling from the slump of 2008-9.

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The Greek crisis: Europe on the brink of a precipice

Europe is standing on the edge of a precipice. This is the judgement, not just of the Marxists, but of the most serious strategists of Capital. Barely six weeks have passed since the latest Greek rescue package, and it is already unravelling. There is now a general crisis of confidence in the ranks of the bourgeoisie internationally. The panic, which is reflected in the wild gyrations of the stock exchanges, has spread rapidly from Europe to America. It is a kind of deadly contagion that has infected all the euro zone’s big countries.

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How capitalism developed in Taiwan and South Korea – any parallels with China today? Part One

The crisis that has shaken the world economy since 2008 has pushed bourgeois ideologists to desperately seek a solution. They are looking for alternative ways of running their system, seeking to square the circle and maintain capitalism without its inevitable contradictions. As Asia, and China in particular, is doing so well, there is a burgeoning literature about the Chinese model, just as in the past there was so much made of the “Japanese miracle”. In Part One of this article Luca Lombardi looks at the experience of Taiwan.

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How capitalism developed in Taiwan and South Korea – any parallels with China today? Part Two

The experience of economic planning in South Korea was broadly speaking, similar to that of Taiwan. What most characterises the Korean experience is the prominent role of the chaebols, the giant conglomerates, in developing the economy.

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Another day, another crisis

Events are moving at lightening speed. Stock markets are in freefall around the world. Some days bring temporary relief only to be followed by greater convulsions. The whole situation is reminiscent of 2008, or more correctly the 1930s

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