Economy

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In Ireland Majority refuse to choose flavour of austerity in referendum

With votes still being counted it has become clear that the largest block of potential voters refused to take part in the fiscal compact referendum, rejecting the arguments that they could either vote for 'stability' or against 'austerity'. Quite possibly more people chose to boycott the referendum then the combined Yes and No voters. On top of this some 17% of the population who live and pay tax in Ireland were excluded from voting at all in the referendum. This means as many as 2/3 of the adult population did not vote in the referendum. [Italian translation of this article]

A cold economy encrusted by a half-baked ideology

Who can dare suggest we are not all in it together? Cuts are being inflicted across all classes – the elite and companies get tax cuts, working class people get wage and benefit cuts. Even better, the Tories in their drive for fairness have given the many the opportunity usually afforded the wealthy few – by waiting until a pasty is lukewarm we can all participate in tax avoidance!

Review: 23 Things They Don’t Tell You About Capitalism

Ha-Joon Chang, while an economist, is not of the mainstream neo-classical brand. This becomes very obvious reading his extremely useful book 23 Things They Don’t Tell You About Capitalism.

Occupation of Bad Bank building in Dublin - audio interview - NAMA v Unlock NAMA at the Great Strand Street Occupation

On Saturday 28th January Unlock NAMA opened an occupied building in the center of Dublin for a day of lectures about NAMA, Ireland's 'Bad Bank.' The event was cut short by a large number of police who turned up and ordered them out of the building. In this 40 minute interview Andrew Flood interviews Cat & Moira from Unlock NAMA about the occupation, what NAMA is and what Unlock NAMA demands.

 

Image: All rights reserved by Paul C Reynolds - used with permission

Review: Radical Economics and Labor

The revolutionary union the Industrial Workers of the World marked its 100th anniversary in 2005. To mark this event a conference was held at the University of Missouri-Kansas City, hosted by the editors (Fred Lee and Jon Bekken) of this useful selection of talks from it. As well as an introduction, this book has ten chapters on a wide range of subjects on something often not much discussed in radical circles, political economy.

Pay Inequality: where it comes from and what to do about it

“The exploitation of man by man, someone once said, is theft” (Pierre-Joseph Proudhon)

The global Occupy movement has struck a cord with the 99% and the ruling class is worried. Rightly so, given that the neo-liberal agenda that has allowed the few to become obscenely rich at the expense of the rest has come under fire.

London burns - causes & consequences of the riots - an anarchist perspective

The police killing of Mark Duggan resulted in four nights of rioting across England. The immediate trigger was the killing itself, and the disrespect shown by the police to Mark’s family and friends. But the riots rapidly broadened to expressions of a more general anger and alienation; an anger that was all too often unfocused and striking out at the nearest target of opportunity. This resulted in widespread destruction of resources in already deprived neighborhoods and some anti-social attacks on bystanders. Despite this, the roots of the riots lie in the economic and political conditions of these districts, and not in ‘poor parenting’ or ‘mindless criminality’. These conditions were created by the very politicians and business elite who now call for a return to normality and repression. [French translation]

(Image: By SkyFireXII via Flickr Creative Commons 2.0)

Crisis and Capitalism’s Contradictions

Anarchists have long argued that capitalism is an economic system riddled with contradictions. These express themselves in recurring crisis, when these contradictions expose themselves for all to see in generalised misery they produce.

Ireland: They Say Cut Back, We Say Fight Back

I left Ireland in 2007 at the height of the economic boom there, the unemployment rate was under 5%1, house prices had gone through the ceiling and the head of state had suggested that anyone who thought there might be an end to the boom should go and kill themselves. I passed through Philly in March 2008 and the news from back home was not so good as the international banking collapse was having its impact. That June I moved back to Ireland, and from then on the economy went into free fall, pushed over the edge by property speculation, which had grown exponentially in the previous decade.

The 1% are doing all right - Irish rich now much richer

The richest 300 people in Ireland are now worth 57 billion, almost as much as the entire IMF /ECB bailout. What's more, when the rest of us saw our take home pay fall massively in the last year they got 13% or 6.7 billion euro richer. Which hasn't stopped them demanding pay cuts for the rest of us.

  


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