A New Stage in the Capitalist Crisis This long article by Alan Woods reviews the events since the stock exchange crash of October 1997, and how the crisis has spread to the once powerfull economies of South Korea and Japan despite the reassuring comments of most bourgeois economist in the aftermath of the crash. An update to the ideas developed in Ted Grant's article The First Tremors - An analysis of the global economic situation
Japan's Economic Crisis "Flat on its back for years and showing few signs of life, Japan's economy was nonetheless still in the world of the living. When we last checked, that is. Reports of its imminent demise are now coming thick and fast. A world that had grown bored with the 'Japan isn't growing' story is suddenly paying attention to the new 'Japan will collapse and take the rest of us with it' story." The Economist, 11/4/98. Phil Mitchinson analyses the reasons behind.
False Dawn: the Delusions of Global Capitalism "False Dawn", by LSE professor John Gray, takes us on a world tour of the social devastation being left in capitalism's wake. Fascinating for its factual and statistical data alone, it is perhaps Gray's conclusions which make the deepest impression. The free market he argues will cause disaster, war, ethnic conflict, environmental destruction and impoverish millions. Yet throughout a lucid and empirically remarkable work, Gray offers no hope, proposes no reform and predicts the gloomiest of futures. In essence he argues that the global market economy is fatally flawed and incapable of reform.
