|SocialismToday Socialist Party magazine|
Issue 198 May 2016
A new book, The Rise and Fall of American Growth, analyses the downward course of the US economy – and the limits of the whole capitalist system. From the boom years to today’s slow growth and stagnant wages, the obscene wealth at the top and company cash piles, to capitalism’s inability to harness new technology fully. It all points to the need for socialist change, writes PETER TAAFFE.
Even for sections of the British capitalist establishment, the prospect of the end of a fundamental industry such as steelmaking feels like losing yet another part of their power and prestige. For tens of thousands of workers and working-class communities it is a catastrophe. Because of the bitter experience associated with the industrial decline in South Wales, however, there is the potential to build a campaign to stop any closure. ROB WILLIAMS reports.
At key moments – Thatcher’s all-out assault on councils and the fight against Blair’s New Labour project, for instance – Ken Livingstone was well-placed to lead a left-wing fight-back. And his latest book is a defence of his record. However, as PAULA MITCHELL shows, it is really a story of retreats and missed opportunities.
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