National Sections of the L5I:

Economy

World Political and Economic Perspectives of the League (2003)

A - The world at a turning point

1. 1989-90 marked the triumph of the USA in the second cold war which reinforced the new phase of the imperialist epoch - globalisation. Neoliberal policies had been in operation for over a decade in the advanced capitalist countries and in some of the semi-colonial countries of the “Third World”. Henceforth they were to be unleashed on the entire planet. Read more...

Flying on one engine: the world economy today

For the last ten years, the USA has been the main engine of global growth. Between 1995 and 2002 the United States accounted for 96 percent of the cumulative increase in world GDP. With 22 percent of world GDP, the USA is by far the largest economy on the planet. Read more...

German Imperialism: Waking up to the US Threat

In this survey of German imperialism, Martin Suchanek examines the contradictions and tensions shaping the policy of the world’s third-largest economy as the German bourgeoisie grapples with a familiar problem; how to achieve a dramatic increase in exploitation at home whilst expanding into a world economy already dominated by a more powerful rival. Read more...

Famine in Malawi: who is responsible?

Famine is stalking Africa. Fourteen million people face starvation if food does not reach them within the next few months.

In Zambia, more than two million people need emergency food aid. A combination of crop destruction by white farmers and President Mugabe’s political terror have left five million people in Zimbabwe desperately needing food. The people of Ethiopia are in the midst of a famine far greater than the one in the mid-1980s that led Bob Geldof to launch Live Aid. Read more...

IMF puts the screws on Argentina

In May, President Duhalde’s new economics minister, Roberto Lavagna (the sixth Argentine economics minister in 14 months) promised to sign a deal with the IMF by June. Not long after, a phone conversation with the IMF’s number two, Anne Krueger, put paid to his optimism. Since December when Argentina defaulted on its $140 billion government debt, the IMF has been blocking access to loans until the Government fulfils its conditions. Read more...

Between explosion and desperation

The crisis of Argentine capitalism is total – economic, social and political. It is no surprise that in such a situation the very regime of the ruling class totters on the edge of an abyss. Read more...

Europe: will the euro help European capital consolidate?

The appearance of the euro on the streets has passed without a glitch. Years of preparation paid off for the countries that decided to abandon their national money and adopt a common currency. It should accelerate the consolidation of a single market, it will create more transparency in prices, thus enabling investors to see more readily what the real prices of production are in each country. Read more...

Argentina: on the road to revolution

The pro-IMF hunger administration of President Fernando de la Rua has fallen only one day after imposing a state of emergency. Hundreds of thousands of demonstrators took to the streets across Argentina, outraged by de la Rua’s declaration that their democratic right to protest had been suspended. Read more...

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