ROGER D HARRIS and SARA FLOUNDERS challenge propaganda against the blockaded socialist island
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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
Marx and Engels incorporated in their writings a critique of the way that capitalism destroys the environment but it is only in the last half century that environmental concerns have become an integral part of the fight for socialism, writes the Marx Memorial Library and Workers’ School
The racist Republican tactic of redistricting to keep Trump and his base in power is turning the clock back to the 1950s, writes LINDA PENTZ GUNTER
With a political crisis engulfing the Labour Party, the case for PR is back on the agenda. TONY BURKE argues trade unions must now engage on changes to our voting system
YVETTE WILLIAMS and JOE DELANEY dissect the institutional dawdling that rubbed salt into the Grenfell open wounds prolonging the agony of survivors
The HS2 debacle exposes what happens when public infrastructure is handed to private contractors – especially when set against China’s state-led high-speed rail success, says CARLOS MARTINEZ
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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