credit crisis
Articles about the financial crisis or "credit crunch" of 2008.
China: crisis, class struggle, and the 'harmonious society'
The global economic crisis had a severe effect on China. However, there has been much talk recently about its impressive recovery and the return of its economy to growth. This article analyses the situation in China, and argues that the economic crisis catalysed a wave of struggle which has continued into the present, regardless of the supposed health of the economy.
If we’re to believe the commentary to be found in the mainstream media, China is the economic powerhouse that will pull us through the global economic crisis. Though the economic slowdown which hit the country in late 2008 was widely reported, and led to claims that China’s meteoric rise was stalling, the country’s ‘recovery’ since has been the subject of many excited column inches.
Occupy the Crisis: The Emerging Student-Worker Direct Action Movement in California
A summary of the recent student occupation movement commissioned by the antioch rebel newspaper from a participant in the UCSC actions.
Sticky fingers: KPMG and the accountancy oligopoly
Following their involvement in the bankruptcy of car parts manufacturer Visteon, John Barker examines KPMG and the murky world of the "big four" accountancy firms.
The end of the automobile
An analysis focusing on Germany of developments in the global car industry between its inception and the financial crisis of 2008-9.
The 'service society' and the end of industrial work has been propagated for decades now. Today the press is stuffed with reports on the importance of the automobile industry for the national economy and with pictures of industrial workers. The articles and pictures scream out: 'This is supposed to be the end?! – Unbelievable!!'.
Co-operatives: all in this together?
An interesting article from The Economist discussing the merits of workers' co-operatives as a means to avoid class conflict in a time of recession.
These are difficult times for the Fagor appliance factory in Mondragón, in northern Spain. Sales have seized up, as at many other white-goods companies. Workers had four weeks’ pay docked at Christmas. Some have been laid off. Now salaries are about to be cut by 8%. Time for Spain’s mighty unions to call a strike? Not at Fagor—for here the decisions are taken by the workers themselves.
State capitalism in Britain
Despite the State being the main investor in the UK's national economy, the official rhetoric of private sector productivity is alive and well. James Heartfield takes a look at New Labour's failed strategy of privatising public services and the rise of ‘corporate welfare'
Belfast protests continue for sacked Nortel workers
Sacked Nortel workers and supporters continued their protests in Belfast today rallying for their redundancy packages.
Pickets of Nortel administrators continued in Belfast today outside the offices of Ernst & Young on Bedford Street.
Bailouts, co-operatives or class struggle - a debate
A debate between Iain McKaye and the libcom group about an adequate workers' response to the credit crunch - should we advocate nationalisation, co-op's, or struggle?
The initial two articles were published simultaneously in Freedom newspaper, the latter responses were published online.
Private sector pensions under threat in UK
About half the final-salary pension schemes in the private sector will have closed to existing employees within the next three years, a survey by actuarial firm Watson Wyatt suggests.
The firm surveyed more than 250 employers, many of them large, in July about their intentions. While about 75% of all final-salary schemes are shut to new recruits, only about 9% are closed to current staff. But this year has seen a flurry of employers closing their pension schemes to all further contributions.
Protests continue in Belfast for sacked Nortel workers
Protests continued today in support of 87 workers sacked with no redundancies at the Nortel plant outside Belfast last March.
Workers and protestors gathered outside the Bedford Street offices of Nortel's administrators, Ernst & Young, in Belfast. Members of Organise! joined the sacked workers as they unfurled banners and handed information lealfets to shoppers and workers in central Belfast.
