The impression of the press conference on 19 August 1991 as eight aged generals, KGB officers and Stalinist bureaucrats announced ‘emergency rule’ could not have filled those who hoped they would save the Soviet Union with confidence.
Theory & History
There is much to say about the so-called “post-pandemic” economic rebound. The figures look impressive, but warnings are manifold. New heights in inequality between rich and poor are pouring petrol on existing social tensions, and producing new ones. Spiraling food prices are provoking further social explosions. Capitalism’s disastrously slow, uneven and inefficient vaccine rollout leads to more contagious and vaccine-resistant brands of the virus. Inflationary pressures could force central banks to tighten monetary policy and plunge the economy back into recession. Moreover, there are the many challenges which already existed before the pandemic and have become bigger, more imminent, and more urgent: ecological tipping points, the new Cold War, the accumulation of debt, lack of investment in productive capacity etc.
This week marks the fiftieth anniversary of Operation Demetrius and the start of internment without trial, introduced by the reactionary Unionist government at Stormont and the British state. This brutal repressive action saw hundreds of innocent, working-class people rounded up across Northern Ireland by the British army and jailed in a matter of days.
If the world today seems chaotic and the future looks bleak, try to remember one thing: it’s not you, it’s capitalism. The accelerating decay of this system is increasing the rate of all kinds of disasters, as well as their intensity. This reality means more hardship for billions of people […]