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Economy

Protests Reach Fever Pitch in Sri Lanka Amid Historic Economic Crisis

In Sri Lanka, the government has imposed a state of emergency to control protests and mass anger over a deepening economic crisis that has led to debilitating shortages of food, fuel, and basic goods.

Sou Mi

April 2, 2022

The War in Ukraine and Sanctions on Russia Are Driving Global Hunger

Russia’s invasion of Ukraine isn’t just harming the working class of both countries — it’s causing global food shortages.

Otto Fors

March 25, 2022

Ukraine-Russia: Like an Economic Earthquake

The war in Ukraine will have damaging economic consequences across the world, and it's happening as the global economy is supposedly recovering from the pandemic slump.

Michael Roberts

March 25, 2022

Rising Gas Prices Slam Workers Across the United States: Is There a Solution?

The working class is bearing the brunt of rising oil prices — and not only at the gas pump. All signs point to gasoline continuing to cost more and more. It’s not just about Russian oil and the invasion of Ukraine. It’s how capitalism works to enrich the few at the expense of the world’s masses.

Scott Cooper

March 12, 2022

Companies Are Exiting Russia — to Preserve Their Bottom Line

Large multinational companies like IKEA and Toyota are suspending business in Russia. They’ll do whatever it takes to keep up exploitation and profit levels, even under the guise of corporate social responsibility and solidarity.

Clara Mallo

March 6, 2022

Corporate Profits Soar Even amid Rising Inflation

As inflation chips away at our paychecks, the bosses are making more than ever.

James Dennis Hoff

February 11, 2022

“Strong” January Job Numbers Mask the True Story of Employment in Capitalist America

The United States added more jobs than had been forecast in January. But these numbers mask the quality of jobs and the overall conditions for the working class, and minimize anything that might remind workers of the exploitation that is the foundation of a system that prioritizes profits over human needs.

Otto Fors

February 5, 2022

Biden Wants Us to Celebrate “Good” Economic Numbers, But They’re Only Good for the Rich

President Biden is touting U.S. economic numbers released yesterday as proof of the greatness of his first year. He wants us all to celebrate with him. The next numbers aren’t going to be so good.

Scott Cooper

January 28, 2022

The Fed Will Raise Interest Rates “Soon.” The Capitalists — and Democrats — Are Very Nervous

The Federal Reserve announced today that it would “soon” be raising interest rates — probably in March — in an effort to stem inflation, which has hit its highest levels in the United States since 1982. The Democrats are desperate to keep inflation from becoming an issue in the midterm elections.

Scott Cooper

January 26, 2022