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Europe’s economic crisis

19th May 2012 Socialist Action 0

By Jane West

As the Euro-crisis unfolds and Greece heads to new elections, the left party, Syriza is capturing the support of most of those in Greece who want to reject the austerity programme imposed by the EU.

It is striking that the impact of the world developments, and particularly the growth of the left in Latin America, has clearly interacted with this political leadership of resistance to austerity in Greece. It was recently reported in the Guardian, of Syriza’s leader, Alexis Tsipras: ‘one of his heroes is Venezuelan leader Hugo Chávez, with whom he shares the same birthday.’

Marxism and the Economic Crisis

27th April 2011 Socialist Action 0

By Nicky Dempsey

All societies based on social classes tend to produce surplus value, to a greater or less extent. The character of the society may be determined by which class receives the bulk of the surplus.

The economic and financial crisis that became apparent in 2007 and 2008 was located primarily in the imperialist centres, led by the United States. The crisis was engendered by a crisis of profitability, a reduction in the surplus available to the capitalist class. Economic policy since that time has been designed to restore as far as possible the greater proportion of that surplus to the capitalist class in the imperial centres.

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A serious work of Marxist economics – meeting on 11 July

9th July 2007 Socialist Action 0

First published: 9 July 2007

On 11 July there will be an opportunity to attend a meeting on a book summarising very serious work in Marxist economics – Andrew Kliman’s Reclaiming Marx’s Capital. The notice for the meeting is appended below, for those who wish to skip to it. But to understand its importance it is worth making some observations on the developments which led to it.

It is a truism of Marxism that theory has a relative autonomy from the direct development of the class struggle. Both parts of that phrase, the autonomy and that it is relative and not absolute, are important.

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The choices for Russia – The economic programme of the Left Opposition, part 1

1st September 1999 Socialist Action 0

First published: Autumn 1991

This article was first published in Socialist Action in Autumn 1991. Its prognosis – that the reintroduction of capitalism would devastate those economies, reduce hundreds of millions of people to poverty and result in steps towards capitalist dictatorship – has been amply confirmed by events. The text is reproduced in full with only stylistic corrections.

Economic catastrophe is sweeping Eastern Europe and the former USSR with the reintroduction of capitalism. It is bringing the rise of racism, reactionary nationalism, and moves to capitalist dictatorship. Stalinism in Eastern Europe, by repelling the working classes from socialism, brought these countries to the brink of disaster. However, the subsequent assault on the working class and the violent moves of these societies to the right, which have accompanied the re-introduction of capitalism, completely discredited those in the West who believed that the events after 1989 in Eastern Europe – the introduction of capitalist governments – represented a way forward. Instead they confront the working class with the threat of the greatest defeats in its history and the unfolding of a period of unparalleled reaction in Europe – and internationally. In fighting the consequences of this for Eastern Europe and the former USSR the left, above all, needs an economic programme that both opposes the reintroduction of capitalism and is a planned alternative to the course launched by Stalinism. The most important of these historically was Trotsky’s economic policy for the Soviet Union – put forward directly against Stalin. This supplement outlines the economic positions of the Left Opposition in the USSR.

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The choices for Russia – The economic programme of the Left Opposition, part 2

1st September 1999 Socialist Action 0

[Continued from Part 1]

 

2. The central choice in the Soviet economy

From the fact that it was not possible to resolve all contradictions within the Soviet economy on the basis of the economy of one country, however, did not follow that nothing could be done in the USSR itself. Quite the contrary, from the difficulties it flowed that everything possible should be done. The point was simply that socialism in one country and the classic Marxist analysis outlined by Trotsky led to diametrically opposite conclusions as to what should be done. As Trotsky noted: ‘In general, within the boundaries of a single nation, it is impossible to completely overcome the difficulties resulting from the delay in the world revolution. This should be said clearly, firmly and honestly, in a Marxist and Leninist way. But although the fate of the revolution is a function of its international character, it does not follow that the party in each country is relieved of the duty to do the maximum in all areas. On the contrary, this obligation only increases, because the economic errors made in the USSR not only retard the building of socialism in our country, but strike in the most direct way at the world revolution.’ [45]

He noted: ‘A [genuine] left course could not promise to build “full socialism” by our efforts alone. It could not even promise a complete triumph over the contradictions within the country, as long as world contradictions exist. But it could gradually establish more correct control over the domestic class contradictions – more correct from the standpoint of socialism under construction. It could quicken the rate of growth, through a more correct policy of distributing the national income. It could consolidate in a more systematic and serious way the proletariat’s hold on the commanding heights of the economy.’ [46]

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The choices for Russia – The economic programme of the Left Opposition, part 3

1st September 1999 Socialist Action 0

[Continued from Part 2]

 

3. Democracy and the categories of commodity economy

It was from the angle of proportions in the economy, not micro decision-making, self management, that the issues of the relation of democracy and economics were most fundamentally posed. Democratic resolution of the plan, to decide the allocation of resources, was the decisive issue. As Trotsky noted: ‘The problem of the elements of production and the branches of the economy constitutes the very heart of socialist economy.’ [93]