Economics

The Tory assault on the working class, rail strikes, Ukraine, Spycops and more in this month's Counterfire freesheet

Dominic Alexander explains the unfolding economic turmoil and how socialists should respond

John Clarke on capitalism’s unfolding crisis and the attempts to rescue it

The World Bank's latest report gives an insight into the intensifying crises within capitalism internationally, writes John Clarke.

Dominic Alexander explains why the Bank of England's response to inflation will be disastrous, particularly for working people

Counterfire's Yonas Makoni spoke to Marxist economist Michael Roberts about the real drivers of the cost of living crisis, the failures of the capitalist system and the alternatives we must fight for

The mass uprising on the South Asian island could be a portent of similar events around the world this year, writes Sean Ledwith

Lindsey German considers the three interconnected flashpoints of modern politics

Contrary to what the Bank of England Governor thinks, higher wages are not responsible for the cost of living crisis, argues Dominic Alexander

Can Heterodox Economics Make a Difference?gives us a wide range of economic views but the ‘key thinkers’ aren’t listening to each other, finds Orlando Hill

Averting climate catastrophe demands reorganising production, not ‘de-growth’, argues Dominic Alexander.

The signs point towards a sustained crisis after the pandemic, not an equitable recovery, argues John Clarke

Makoto Itoh’s Value and Crisis provides a valuable exposition of a school of Japanese interpretation of Marxist economics, finds Phil Armstrong

Michael Roberts and Kate O'Neil discuss Biden's economic programme and the neoliberal crisis at Counterfire's Revolution! Festival

The G7 fantasy of returning to the pre-pandemic 'normal' isn't going to solve the economic crisis or the breakdown of the climate, argues Michael Roberts

As governments attempt to spend their way out of the crisis, ideas like Modern Monetary Theory have gained traction; Yanis Iqbal explains why it's no solution for the left to champion

Increases in public spending do not automatically equate to a progressive redistribution of wealth, argues Susan Newman

Richard D. Wolff in The Sickness is the System exposes the flaws and failures in the capitalist economic system, and argues for workplace democracy, finds Phil Armstrong

Dominic Alexander looks at the limits of Keynesian economics in the context of the current crisis and questions of state spending

Monopsony Capitalismbrings competition into the centre of industrial organisation theory and shows how labour is an agent in the power struggle, finds Orlando Hill

The central importance of the revolutionary Friedrich Engels to Marxism, as an individual thinker as well as collaborator, is forcefully argued in Roberts’ Engels 200, finds John Clarke

Boris Johnson wants to return to an ineffective tier system to save profits for shops instead of people’s lives, writes Caitlin Southern

The government’s eleventh-hour bailout has only deferred the TfL crisis, explains Unjum Mirza

Speaking at a recent Counterfire public meeting, David Bush explains the multi-layered crisis facing the US and why the election isn't going to be the end, whatever the outcome

Sunak’s scheme will mean millions are made jobless and the movement should reject it, argue Susan Newman and Chris Nineham

Kevin Ovenden looks at the growing crisis facing the government over the soaring deficit and the debate on taxation

Ending the furlough scheme prematurely would be economically reckless and would put millions of jobs at risk, argues Terina Hine.

The chancellor’s plans work for his class, not ours, writes Chris Nineham

In this discussion paper, Kevin Ovenden focuses on trade unionism now and in history, with a particular emphasis on rank and file organisation

Alex Snowdon on the impending economic crisis and Blairism’s place in history

The prime minister has recklessly heralded a renewed push back to the workplace for millions of people, writes Alex Snowdon 

The chancellor's plan for recovery is doomed to fail, argues Michael Roberts

Dominic Alexander takes on the idea that a planned economy cannot work

World leaders like Trump and Johnson trying to get back to business as usual while the virus continues to spread are deliberately sacrificing public health, writes John Clarke

The victory for the Trumpesque right in Poland is a dangerous development and the challenge for socialists is to create an opening for renewed struggle, argues Reece Goscinski

FDR’s reputation as a workers’ President should be rejected along with Boris Johnson’s attempt to channel his legacy, argues Sean Ledwith

Sunak’s budget is nothing but an attempt to get the economy back to business as usual, writes Susan Newman

The government will pass the blame anywhere they can but now, more than ever, we must fight for an economy that works for us, argues Richard Allday

The South Sea Bubble was not an exceptional event but the first of many crises produced by the inescapable tendencies of capitalism, argues Dominic Alexander

Zevin’s history of the Economist magazine opens up a rich angle from which to observe the nature and development of liberalism across 180 years, finds Dominic Alexander

Michael Roberts takes a look at economic implications of the government's failures

Marx’s labour theory of value and the analysis of the falling rate of profit receive a robust defence in Murray Smith’s Invisible Leviathan, finds Dominic Alexander

We must push for the kind of transformative solutions that the government will do everything it can to avoid, argues Reuben Bard-Rosenberg

Capitalism hasn't been suspended. Change that benefits ordinary people can only come by pressure from below, argues Dominic Alexander

With the global economy facing the biggest downturn in 150 years, there will be no return to 'normal', argues Michael Roberts

The global economic crisis rendered by the Covid-19 pandemic considered by Susan Newman

State intervention is back. In part one of a two-part article, Chris Nineham looks at the myths and politics behind state involvement in the economy

Sean Ledwith considers the tensions unfolding at the head of Government.

John Rees provides an overview of a landscape darkened by the establishments’ failure to deal with the coronavirus pandemic

Capitalism remains interlocked with imperialism, and Suwandi’s Value Chains demonstrates a core aspect of international mechanisms of exploitation, argues Dominic Alexander

The coronavirus crisis has triggered a deep and sustained economic downturn in the US that will have lasting effects, writes John Clarke

In four points, Vladimir Unkovski-Korica considers how a global economic depression could affect global politics.

In the first of a three-part series on the economy, Susan Newman examines what Coronavirus has revealed about the economy and what we should be calling for

UBI lets the bosses off the hook and does nothing to challenge a system in crisis, argues John Clarke

Elaine Graham-Leigh recommends five books to add to Counterfire's Lockdown Library

Michael Roberts explains why Coronavirus has destabilised the global economy

Alex Snowdon on Tory weaknesses, challenging racism and the Sanders campaign   

The Debt System argues that international debt is a system of exploitation of poorer countries, which should be regarded as illegitimate, finds Phil Armstrong

Richard Wolff in Understanding Marxism concisely introduces Marx’s essential arguments on exploitation in capitalism, and workers’ democracy, finds Graham Kirkwood

Lindsey German on topsy-turvy economics, media duplicity and Tory Islamophobia

With cynical spending plans from the Tories, Labour must go on the attack with its message of genuine change in favour of working people, argues David McAllister

Lindsey German on radical retreats, Ian Austin and fiscal priorities

Capitalism expands in booms and slumps and we're due a slump, writes Michael Roberts

Chris Nineham assesses the varied interpretations of Trump in this year’s Socialist Register, pointing out the opportunities for the left

Roberto’s The Coming of the American Behemoth argues that fascist-like processes arose from the essential workings of monopoly capitalism in 1930s America, finds Martin Hall

An analysis of hegemony and consciousness among the economically distressed middle class of Argentina provides lessons for activists everywhere, finds Orlando Hill

No new Tory Prime Minister, protest the Tory party conference, revolt in Sudan, does modern monetary theory work, stop the drive to war with Iran, the British state and what Engels said about revolution in this month's Counterfire freesheet

Following the grand unveiling of its economic elements in Bahrain, Sean Ledwith picks apart Kushner's sham 'Deal of the Century'

The Treaty of Versailles was the continuation of the First World War by other means, finds Dragan Plavšić

Aaron Bastani’s Fully Automated Luxury Communism is a vision of a post-capitalist Utopia, but can we get there and would we like it if we did, asks Elaine Graham-Leigh.

A new report shows austerity is strangling the UK economy and impoverishing working people, writes John Rees

When economic liberalism fused with social conservatism: Tom Whittaker looks at the origins, impacts and legacy of Thatcher's politics, four decades on

Marx’s law of profitability is shown in World in Crisis to explain today’s long depression, but ending capitalism requires a political strategy, argues Dominic Alexander

Environmental activist and author, Elaine Graham-Leigh, highlights seven key demands the movement against climate change needs to be making

Seeing the EU as internationalist is a fundamental error rooted in a misdiagnosis of its aims and effects, argues Chris Nineham

The economic crisis intensifies across Europe, with the US and south east Asia close behind, argues Chris Bambery

Slowing productivity and neoliberal attacks on the public sector are prime causes for industrial slump and a debt crunch - not Brexit uncertainty, writes Vladimir Unkovski-Korica

EU monomania shouldn’t blind us to the starker realities of global economic crisis and ever increasing class tensions, argues Lindsey German  

Chris Bambery explores European political economy and what developments of the last twelve months can lead us to expect about the year ahead

Tom Lock Griffiths talks to Dominic Alexander about his new book The Limits of Keynesianism in this episode of Counterfire Media's Podcast

Even the Guardian's economics editor thinks staying in the EU is a bad idea

Let’s insist that future Labour policies confront inequality and material deprivation head on, argues Alex Snowdon

We can't let the most radical leadership in Labour's history find themselves fighting on the side of free trade, argues Reuben Bard-Rosenberg

Finance capital is a game for the rich and when it goes wrong it's our side who are expected to pay the price, argues Lindsey German

Wealth redistribution has to become the key priority in our fight against austerity, insists Susan Newman

Corbyn's leadership in danger, solidarity with Palestine, People's Vote vs People's Brexit, UK wage stagnation, Yemen and fighting the far right

A Marxist critique of Keynesian economics and what that means post-financial crisis

Falling wages in a growing economy and ever increasing pay for bosses show a system undeterred by crisis in consolidating wealth at the top of society, argues Josh Newman

As he analyses the state of the economy, Michael Roberts finds that the capitalist sector of the British economy has failed to deliver for the needs of the people

Trade is Warcriticises globalisation, but does not distinguish national from class struggle, and fails to understand capitalist imperialism, finds Orlando Hill

Describing Jeremy Corbyn's Brexit strategy as "economic nationalism" is adopting neoliberal arguments that defend the status quo argues Kevin Ovenden

Both free trade and protectionist strategies will ultimately impoverish workers, writes Susan Newman

The world has changed dramatically since Marx's day, but his ideas could not be more relevant, writes Dragan Plavsic

The Struggle for Development valuably debunks the statistics of neoliberal development, but an analysis of imperialism is needed too, argues Dominic Alexander

In the final part of our series, Dominic Alexander looks at how working class advancement means moving beyond the confines of reformism

In the fourth part of our series, Dominic Alexander looks at the problems with Keynesian critiques of Marx's labour theory of value 

In her speech at 'Why Marx Was Right', Susan Newman argues that Marx's analysis of capitalism goes against everything modern economics stands for

In the third part of our series on Keynesianism, Dominic Alexander looks at cycles, crisis, and why Keynesianism always looks to fix capitalism 

In the second part of our series on Keynesianism, Dominic Alexander outlines the economic and philosophical underpinnings of Keynesian thought

In the first part of our series considering the merits and pitfalls of Keynesian economics, Dominic Alexander looks at the history of Keynes' contribution

The Tories have no answers to the problems facing British society

The Labour Campaign for the Single Market is a battering ram for the Labour right, argues Reuben Bard-Rosenberg

Our economy continues to be tied to the vagaries of speculative finance

The Left should reject calls by the farmers’ industry body to continue the system of low pay and unsustainability

The showdown between public need and private greed will mean taking on the banks and the City from the get-go, argues Lindsey German

We cannot consider automation without taking into account the mode of production in which it's operating, argues Nathan Street 

The Politics of Immigration gives supporters of migrants the ammunition to answer back any anti-immigration argument, finds Orlando Hill

As the stock market plunged this week and fears of a 2007 repeat spread like wildfire, Michael Roberts analyses what the crash could mean

Vladimir Unkovski-Korica locates the roots of Yugoslavia’s bloody collapse in the ‘market socialism’ of the Tito years

At a London meeting, Marxist economist Michael Roberts discusses whether or not the robot takeover is inevitable, and would advancement lead to living standards improving or further exploitation

Reclaiming the Stateargues persuasively against decades of neoliberal dogma about the role of state intervention in the economy, finds Phil Armstrong

Despite dire forecasts for the economy and living standards, the Tories are continuing with more austerity. It can't go on argues Lindsey German

Now is the time to turn the tables on the Victorian values embedded in our society, argues Lindsey German  

David Harvey’s latest book, using all three volumes of Marx’s Capital, demonstrates the social irrationality of modern capitalism, finds Dominic Alexander

The reality of automation and its impact on the labour market is a lot less dire for workers than it seems

Michael Roberts suggests that robots will not be taking over the world of work any time soon

Basic Income is not a beyond left and right answer to automation, argues David Bush

Michael Roberts explains why we would never get to a robotic society under capitalism

Robots will not end the contradictions within capitalist accumulation, argues Michael Roberts

Chris Nineham’s new book is both digestible for those new to radical politics and presents an engaging analysis for experienced activists, argues Martin Hall

Edmund Berger’s Uncertain Futures provides an important defence of Marxist economic theory, and an analysis of crisis, argues Sean Ledwith

The shock of the General Election hasn’t even begun to settle down. Mark Perryman recommends summer reads to help grapple with interesting times

For Whose Benefit? shows how the hard-won rights to social security have become stigmatised through a series of in-depth interviews, finds Jacqueline Mulhallen

The study's results validate Corbyn's strategy of holding Labour to principled positions and articulating alternatives to the Tories' failed economics

An understanding of capitalist crisis needs to make use of all parts of Marx’s theory, including the declining rate of profit, argues Dominic Alexander

The Econocracy calls for reform and democratisation of the field of Economics so that it may suit the present needs of our society, finds Orlando Hill

As Theresa May tries to appeal to working class voters, Chris Bambery takes a look at the reality behind the rhetoric

Higher taxes on the richest people are the key to funding Labour's policies

Is a Macron presidency the beginning of the end for fascism and Le Pen? Brian Heron investigates

Europe Isn’t Working is a valuable resource for the arguments against the neoliberal austerity machine that is the EU, argues Richard Allday

As Philip Hammond puts tax cuts before the NHS in his budget, we print this speech from Saturday's brilliant ourNHS demo by nurse militant Danielle Tiplady

The third in a three-part series, in which Chris Bambery takes a look at the intertwined history of the state and the City of London

The second in a three-part series, in which Chris Bambery takes a look at the intertwined history of the state and the City of London

It is a mistake for Corbyn to suggest dropping the principle of free movement, argues Chris Nineham

The first in a three-part series, in which Chris Bambery takes a look at the intertwined history of the state and the City of London

Amidst the festive season Chris Bambery asks what 2017 holds in terms of what affects us most directly: jobs, housing, income - in other words the economy

The aftermath of Philip Hammond‘s statement reveals a divided government, hamstrung by squabbles over Brexit

Italy is set to vote in a constitutional referendum, but this is about much more than Renzi's reforms, argues Alastair Stephens

Steven and Hilary Rose debunk the ideologically loaded claims of reductionist neuroscience in a short but clear book, finds Elaine Graham-Leigh

Tories getting high on their own ideology can result in a distortion of economic history for the rest of us, argues Chris Bambery  

Fine and Dimakou’s books, Microeconomics and Macroeconomics provide a thorough critique of orthodox economics, while explaining alternatives, finds Phil Armstrong

We spoke to radical geographer Danny Dorling about all things money and politics, before Dangerous Times Festival later this month

As the EU referendum draws closer, and the Tories split further, Chris Bambery looks at why the debate is not the orgy of racism that so many predicted

As stock markets tumble again, the recovery Osborne was boasting about rests on shaky foundations

Mainstream economics mystifies the nature of money. Mellor’s Debt or Democracy explodes the myths, and provides the social alternative, argues Phil Armstrong

Mckay's film exposes the greed at the core of the system, but fails to tell the story of those most affected by the crisis

The crisis in the steel industry exposes the disaster that is Tory economics, and why we need to fight for a real alternative, argues John Westmoreland

James Meadway answers some questions about the financial crisis unfolding in China

The sudden and controversial closure of Kids Company - in London, Bristol and Liverpool - has generated widespread concern and debate. Ibn Yayha offers his perspective

Chris Nineham goes beyond the sensationalist newspaper front pages to explain the real issues around migration and what is driving it

The chances of the deal agreed between Greece and the 'Institutions' actually being enforced seem low - this is, by no means, over writes James Meadway

Even IMF research now warns against imposing austerity on the UK, yet our political mainstream and the media agree it is necessary. Why is this?

Capitalism has used new technologies to fuel an intensified wave of commodification, but faces contradictions too, argues Mike Quille, reviewing Huws, Labour in the Global Digital Economy

The UK has gone into deflation for the first time since records began in 1996. James Meadway explains the implications for the economy, wages and the working class

The Tory election victory has lobbed Osborne a number of economic hand-grenades argues James Meadway

After the longest sustained decline in living standards since the Industrial Revolution, average wages are finally rising faster than prices - no thanks to Tory policies

The government is failing to address any of the British economy's deep-rooted economic issues, instead it's following the same path that led to the last financial crash writes James Meadway

Two big announcements on economic policy are due this week - one from New York and one from Whitehall. James Meadway looks at how they will shape the future of this country

The Left must ensure that the case against Europe is about transforming social and economic conditions, rather than as a basis for ultra-nationalist solutions to Europe’s malaise writes Reuben Bard-Rosenberg

The 'recovery' has been very strong in company profits, and very weak in real wages - James Meadway looks at the weaknesses of the British economy

Economics has been hijacked by ‘econfakers’ and it is up to the true economists to rescue it, argues Orlando Hill

The Syriza government has begun to reverse austerity despite opposition from Europe's elites. James Meadway looks at the backround for the opening battle with the EU/ECB/IMF 'Troika'

James Meadway looks at the European Central Bank's proposed quantitative easing scheme and why a debt write-off may be the only alternative to permanent stagnation

The Coalition insists the government deficit is the UK's biggest economic problem, but it's our current account deficit they should be concerned about argues James Meadway

Kevin Ovenden makes a foray into the economic labyrinth in his ninth dispatch from Greece

Despite Chancellor George Osborne's claims, improvements in most people’s standards of living require sustained increases wages not price reductions argues James Meadway

Unless the nettle of debt write-offs is grasped, we are entering a second, more serious round of the European crisis argues James Meadway

James Meadway gets behind the spin with five insights about Osborne's Autumn statement

George Osborne is considering introducing reduction of the budget deficit into law - constraining the ability of a future government to break with a failed policy

James Meadway: you can’t have consistently rising debts, and consistently falling incomes. The two must collide at some point. That means a crisis

James Meadway: reports from the last few weeks say that the world economy is on course for another financial crisis - with Britain dangerously exposed

David Cameron's 'middle-class tax giveaway' in reality means giving huge amounts of cash to the very richest argues James Meadway

PolyluxMarx is an innovative and valuable introduction to Marx’s Capital, finds Sean Ledwith, despite a few disagreements in method and theory

Can an independent Scotland survive the turbulent waters of the international economy? And will its disembarkation sink the mothership? Two leading economic commentators debate

It is the UK’s parlous position, that is giving financial markets their ongoing jitters, not Scotland’s economic prospects argues James Meadway.Reading the media representation would make you think it’s the other way around.

Conan Doyle on why we need a radical reform of the entire housing market

Rising chances of a Yes vote in this month’s referendum on Scottish independence have rattled the financial markets. The UK’s unbalanced economy is at the heart of their concerns

James Meadway: Europe’s continuing economic woes are starting to pull apart the austerity consensus amongst its elites

The Scottish Parliament is defenceless against Westminster cuts - remaining in the UK would condemn Scots to low wages, falling living standards and humiliating welfare cuts argues Adam Frew

James Meadway writes on the growing danger of a new crash facing the debt laden British economy

Breaking the London bias of the UK economy requires a decisive break with the trickle-down economics that has accompanied London-centred growth writes James Meadway

John Rees looks at the left's analysis of the crisis and outlines a strategy for resisting our rulers attempts to make us pay for it