ANDY HEDGECOCK and MARIA DUARTE review Good Night, and Good Luck: Live from Broadway, Becoming Victoria Wood, Hamnet, and Song Sung Blue
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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
CHRIS SEARLE speaks to Filipino-US saxophonist JON IRABAGON about the threat of AI in the time of Musk and Trump, and how an artist can respond
PETE HIRST introduces a theatre company from Wakefield dedicated to the propagation of socialist perspectives on present British political realities
JENNY FARRELL reminds us that the US novelist, famed for pulp fiction and nature stories, was, by virtue of life experience, a committed revolutionary socialist
BRENT CUTLER recommends a sober examination of the real risks and true merits of nuclear energy, and an exposure of the capitalist system as an obstacle to human betterment
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.
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