Banksy’s identity may have been published – but was the investigation in the public interest, asks PETER BENGTSEN
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
RON JACOBS recommends a book that charts the disparate circumstances that defined the lives of two prominent black Afro-Americans — one a communist, the other an anti-communist
CHRIS MOSS joins the hunt in Argentina for the works of Poland’s most enigmatic exile
SYLVIA HIKINS welcomes a survey of successful contemporary worker co-operatives and economy-based co-operative systems
DAVID NICHOLSON recommends the staging of this Wagnerian classic minus one or two insignificant quibbles
JOHN GREEN relishes the record of a life well lived in the service of the fight for justice and socialism
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
Starmer sabotaged Labour with his second referendum campaign, mobilising a liberal backlash that sincerely felt progressive ideals were at stake — but the EU was then and is now an entity Britain should have nothing to do with, explains NICK WRIGHT
In 2024, 19 households grew richer by $1 trillion while 66 million households shared 3 per cent of wealth in the US, validating Marx’s prediction that capitalism ‘establishes an accumulation of misery corresponding with accumulation of capital,’ writes ZOLTAN ZIGEDY
HENRY BELL takes issue with the assertion that basic income is a remedy for poverty when it doesn’t address the inbuilt inequality of capitalism