Stock market booms and the insanity of capitalism While the real economy has fallen off a cliff in recent months, stock prices have reached record highs. Capitalism is nothing but a casino. In place of this speculation and gambling, we need a rational socialist economic plan.
Optimism in world economy hides deeper malaise The capitalists and the stock markets were breathing a sigh of relief as new economic figures showed a slowing of the rate of the decline in the world economy. However, none of the problems have been resolved and the inevitable uptick after the easing of lockdown will not alter the prospect of a deep economic, social and political crisis.
Capitalism prepares misery for billions of workers In a report released on 29 April, the ILO forecast that 1.6 billion workers in the informal sector will lose 60 percent of their income after one month of the crisis. In the worst-affected countries, poverty rates among informal workers will increase to 84 percent. As the crisis bites, workers in insecure work will face disaster.
