National Sections of the L5I:

The Credit Crunch

World economy at tipping point

Analysis of the world economy and the growing crisis over the Eurozone debt, by Workers Power (Britain) Read more...

Europe's toxic debt trap

Marcus Lehner analyses Europe's debt crisis. Locating the cause in the vast overaccumulation of credit assets, he argues western government policy is serving the interests of finance capital, or, to be more specific, the owners of the vast debt mountains built up in the 'boom' years. Read more...

Banks profit at our expense

The recent results for the banks have been claimed as evidence of a recovery in the economy as a whole. But the simple fact is that the banks are profiting at our expense thanks to the government bailouts writes Keith Spencer Read more...

The Third Great Depression

Are we entering a third great depression, asks Richard Brenner? Read more...

Venezuela: Chávez new crisis budget is an attack on the poor

In April, several militants were expelled from the United Socialist Party of Venezuela (PSUV) in Tachira state (see info at end). This article from Workes Power's April issue pointed out that this was a possibility given that Chavez's March budget attacked the poorer sections of society rather than the bosses.

Hugo Chavez has nationalised more companies but also produced a budget that attacks workers. Venezuelan workers should demand anti-capitalist policies, writes Keith Spencer. Read more...

The Crisis in the Global Car Industry

The world economic crisis has hit the car industry with real intensity over the last months. All the world’s major car companies have announced short time working, redundancies or closures. The largest car company and indeed largest multi-national for much of the twentieth century – General Motors — is in its death agony with increasingly desperate interventions of the US-government to just keep it alive. Read more...

Global slump has begun – now let’s fight for socialism

The last quarter of 2008 saw a sharp contraction in economic output for the world’s major economies. It signals that the process of destroying excess capital is well underway, writes Luke Cooper. Read more...

Global recession deepens as economic crisis spreads

The future looks bleak for the world economy as bailout plans fail and the crisis spreads to every corner of the globe. Read more...