|SocialismToday Socialist Party magazine|
How can working-class people fight the effects of the worst economic crisis since the 1930s? Mass lay-offs are already a feature in the major capitalist countries and around the world. The bosses and their governments are on the offensive to make the working class, and large sections of the middle classes, pay for the catastrophe they have created. PETER TAAFFE analyses the situation today, explaining the relevance and necessity of a transitional programme.
The ‘golden age’ of Irish capitalism, the famed Celtic tiger, has come to a shuddering halt. The underlying fragility of this boom, based on massive finance and property bubbles, has been exposed. As MICHAEL MURPHY and KEVIN McLOUGHLIN report, this has opened up an unprecedented economic, political and social crisis.
IN DENVER on 17 February, Barack Obama signed his ambitiously titled American Recovery and Reinvestment Act. It was only three weeks after formally taking over the presidency, though over a year since the onset of a severe economic downturn, which Obama himself has warned could turn into a ‘catastrophe’ unless checked. LYNN WALSH writes.
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Damming the flood
Descent into chaos