Britain: £50bn (or £500bn?) plan to save banks – will it work? In the early hours of this morning (08.10.08), the government and the financial authorities have finally agreed an ambitious plan to save the banks. They present the £50bn bail-out as decisive action to stop the rot. In fact their hands were forced, and there’s no sign that it will stem the panic on UK stock markets in any case.
“Reformism or Revolution” launched in London On Wednesday around 100 people gathered in Bolívar Hall in London to attend what was a very successful launch of the English language edition of Alan Woods' latest book, Reformism or Revolution - A Reply to Heinz Dieterich. The debate revealed that as capitalism world enters into a deep crisis, the ideas of genuine socialism are alive and well. Now is the time to spread the ideas of revolutionary socialism. (Including the audio file of Alan Woods' speech).
Looking Back: The Lucas Aerospace Plan Back in 1976 the Lucas Aerospace Company in Britain was preparing to sack 20% of its 18,000-strong workforce. The Shop Stewards approached their members for technically viable means of using the existing equipment and human expertise to make socially useful products instead of weapons. The result was a 6-volume document which revealed that workers have the know-how to run industry. What was lacking was the capital. For that you need to expropriate the capitalists.
