Ecuador’s election wasn’t free — and its people will pay the price under President Noboa
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
Credit cards 19/3/18
Join the traditional march from Clerkenwell Green, which will bring together countless international workers’ organisations in a statement against the far right
The money tap to anti-Cuban agitators will never be shut off under Trump
Mountains of research show that hardcore material harms children, yet there are still no simple measures in place
We face austerity, privatisation, and toxic influence. But we are growing, and cannot be beaten
Trump’s economic adviser has exposed the actual strategy: forcing other countries to provide financial support for US hegemony
Activist Angie Zelter has been arrested more than a hundred times. She’s not stopping now, writes LINDA PENTZ GUNTER
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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