The class struggle and the economic cycle (Once again on the World Economy) The capitalist system moves in a never-ending cycle of booms and slumps. That has been the case for the last two hundred years. The cycle of booms and slumps, however, does not have a fixed and regular character. To begin with, the length of the cycle has always been somewhat flexible. In Marx's day it was an average of 10 years, but in the years of upswing after the second world war it was considerably less, something like 5-6 years, or even less. The exact length of the cycle is therefore not a principled question for Marxists. What is necessary is to analyse concretely the nature of the cycle, and try to establish how it will most likely evolve.
2001 AD: From Boom, to Gloom, to Doom Michael Roberts looks back at the year 2000, the year when the US hi-tech stock market bubble burst, and views the economic prospects for the coming year.
The Launch of the Euro - Towards European unity? The euro's launch has been greeted with a well-orchestrated campaign of official enthusiasm, designed to silence all doubts on the question. The Euro has finally been introduced as a common currency in 12 of the EU states. This is an important development. A common currency is the first condition towards European integration. It ought to boost internal trade and thus act as a powerful stimulus to the development of the productive forces. But is this going to happen?
