Internationalism is deeply embedded in socialist theory and practice. Examination illuminates its complexity asserts the Marx Memorial Library and Workers’ School
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Does capitalism depend on credit?
Credit is essential for the continuation of capitalism but also a major source of its instability, writes the MARX MEMORIAL LIBRARY
The new TUC Cymru general secretary speaks to Morning Star Wales reporter David Nicholson about her trade union background and ambitions for the movement
The Claudia Sheinbaum government is no pushover and is holding firm despite US abuses of the relationship, says DAVID RABY
As we approach the grim anniversaries of Hiroshima and Nagasaki, SIMON BARROW sounds the alarm over the dangerous and murderous direction our government is heading
The new PM may offer more of the same, but early signs on his housing policies look promising, says GLYNN ROBBINS
CLAUDIA WEBBE argues that Burnham’s U-turn on tackling greedy landlords has let the country down
WELL, the short answer is “yes, capitalism does depend on credit.” And it depends on debt, the other side of the “coin.” But the way it manifests itself is complicated.
Have a look at a £5, £10, £20 or, if you’re rich enough to have one, a £50 note. On the face with the Queen’s head on it, under “Bank of England,” all the notes have written: “I promise to pay the bearer on demand the sum of…”
They are all promissory notes, IOUs, to you. But try taking your banknotes into a bank to ask for payment and you’ll get a very dusty answer.
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