STEPHEN ARNELL on how US power politics is seeping into British broadcasting
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Does capitalism depend on credit?
Credit is essential for the continuation of capitalism but also a major source of its instability, writes the MARX MEMORIAL LIBRARY
Behind the smoke clouds over Beirut lies a radical vision of a “Greater Israel.” The tactics from Gaza are now being deployed to depopulate south Lebanon, clearing the way for a permanent occupation and the reshaping of the Middle East, says MARC VANDEPITTE
Italians reject controversial judiciary reforms in a referendum that boosts the left, reports NICK WRIGHT
At this year’s TUC Young Workers Conference, delegates shared strategies, launched new initiatives and strengthened networks—laying the groundwork for a revitalised and more inclusive union movement, says FRASER McGUIRE
RAMZY BAROUD and ROMANA RUBEO analyse how the US has consistently negotiated in bad faith to secure the element of surprise in military attack
Coal-fired stoves in traditional homes are the primary source of extreme levels of air pollution in over-crowded Ulaanbaatar. As more people become climate-displaced, the situation is likely to worsen, write SCIENCE AND SOCIETY
WELL, the short answer is “yes, capitalism does depend on credit.” And it depends on debt, the other side of the “coin.” But the way it manifests itself is complicated.
Have a look at a £5, £10, £20 or, if you’re rich enough to have one, a £50 note. On the face with the Queen’s head on it, under “Bank of England,” all the notes have written: “I promise to pay the bearer on demand the sum of…”
They are all promissory notes, IOUs, to you. But try taking your banknotes into a bank to ask for payment and you’ll get a very dusty answer.
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