Marxism and under-consumption

4th August 2012 Socialist Action 0

By Tom O’Donnell

The current crisis is leading to a revival of interest in Marxism in general and in Marxist explanations of capitalist crises in particular. Even in Britain this occasionally reaches the commentary of the mass media. Unfortunately, the commentary is usually produced by non-Marxists who mangle ideas and reproduce only their own misunderstandings.

In particular, a persistent distortion of Marxist ideas is the notion that economic crises are caused by ‘under-consumption’. Under-consumption is the process where workers are denied the full value of their expended labour-power in the production of commodities, and so cannot consume all the commodities produced in any economy.

Syria: the imperialist offensive intensifies

1st August 2012 Socialist Action 0

By Andrew Williams

The guerrilla military campaign in Syria significantly escalated in July this year when Russia and China vetoed for the third time a proposed UN Security Council resolution against Syria.

Armed Syrian opposition forces entered the two main cities of Damascus and Aleppo to mount attacks and seized a number of border control posts.

A bomb in Damascus killed four of the Syrian government’s top defence personnel, including the Defence Minister and his Deputy.