MARIA DUARTE reviews Desperate Journey, Blue Moon, Pillion, and Wake Up Dead Man: A Knives Out Mystery
Latest editorial
Illusions of the Ponzi circus
WILL PODMORE takes issue with a faulty analysis of capitalist crisis that cannot see the wood for the trees
BRIDGE OVER TROUBLED WATERS: Farmers have parked their tractors on a small bridge over a highway in Frankfurt, Germany on January 26 2024
WILL STONE enjoys a set by an artist too eclectic to be pigeonholed
RUTH AYLETT reviews two collections of outright political poetry
The book feels like a writer working within his limits and not breaking any new ground, believes KEN COCKBURN
PRAGYA AGARWAL recommends a collection of drawings that explore the relation of indigenous people to the land in south Asia, Africa and the Caribbean
CHRIS SEALE speaks to Palestinian sound artist BINT MBAREH
MARY CONWAY applauds a brave and timely two hander that explores the difference between intimacy and abuse
You always hurt the one you love: central banks and the murder of capitalism
Bernard Connolly
Unicorn, £30
BERNARD CONNOLLY is the excellent economist who wrote the brilliant critique of the euro, The Rotten Heart Of Europe. In this fine book, he analyses what he calls “the global Ponzi scheme” that is present-day capitalism.
He acknowledges that “there has been extractive behaviour (what Marxists would call exploitation) on a massive scale... What has happened in Western economies in this century in terms of financial crises and massive inequalities of income and particularly, wealth, can appear to validate Marxist predictions.”
As he notes, Marx believed that crisis was inherent in the nature of capitalism and wanted the crisis to be resolved by instituting a socialist system. Friedrich von Hayek, by contrast, believed that recurrent crises in capitalism were caused not by the nature of private property but by monetary mismanagement, and wanted crises to be resolved in a way that preserved capitalism.
Similar stories
From summit to summit, imperialist companies and governments cut, delay or water down their commitments, warn the Communist Parties of Britain, France, Portugal and Spain and the Workers Party of Belgium in a joint statement on Cop30
The US president’s universal tariffs mirror the disastrous Smoot-Hawley Act that triggered retaliatory measures, collapsed international trade, fuelled political extremism — and led to world war, warns Dr DYLAN MURPHY
Labour’s fiscal policy is already in trouble. But simply printing money is not a solution, says the Marx Memorial Library and Workers School
Lenin’s theory of the weakest link shifted the centre of gravity of the proletarian revolution towards peoples’ struggles in the developing world, contrary to the expectation of Marx and Engels. The effect was to hinder the cause of socialism by decades. Time bring it back to its natural home, argues FAWZI IBRAHIM