People had hope for a better future and that created a blissful atmosphere and relatively prosperous societies. Now that optimism in life in Europe seems to have evaporated. People have lost hope in a future that promises only a grim life. A social malaise has set in. It is astonishing that this situation has developed in the aftermath of the collapse of the USSR, Eastern European Socialism and the capitalist restoration in China. After these events the bourgeoisie gained access to a huge market of more than two billion. At that time in the end of the 1980s and the beginning of the 1990s, there was euphoria amongst the strategists of capital. The bourgeoisie on a world scale were dizzy with success. Yet it has turned out to be a hoax.
Dialectally it turned into its opposite and today we see capitalism mired in its most severe crisis, unprecedented in its 200-years history. This exposes the historical redundancy and the organic sickness of capitalism. Even with such a massive expansion of the market, it has failed to develop society and improve the living standards of the working class even in the advanced countries. The growth we saw in the last 20 to 30 years was through a greater labour intensive mechanism where all or most members of the household were working, many workers working overtime and of course, a gigantic expansion of credit.
The huge bubbles of speculative investment in housing, InfoTech, petroleum products and others sectors have now burst. But what triggered the crash of 2008 was the overextension of credit that accumulated in the corporate sector and through personal loans in the previous three decades. The banking default in 2007 led to the sovereign default in 2010. Ever since the economies of most European countries and the US have been reeling from a chronic crisis with no end in sight.
Hi Comrades & friends,
The next NYC Workers International League Branch will be held 1/10/13 at 6:30pm at the Atrium at 60 Wall St. Please look for us at a table.
This weeks discussion will be on The Partition of India. The partition of British India, amid a revolutionary situation in which workers and sailors were leading a revolt, was one of the most brutal crimes of imperialism. Million perished and millions more were stranded as refugees. The damage of partition can still be felt today, with conflict between Pakistan and India and the fate of over a billion workers in peril. We will discuss the proletarian Internationalist perspective and the IMT’s call for a socialist federation of South Asia as a component of a world socialist federation.
0. News and Updates
1. Minutes from previous meeting.
2. Lead-off: The Partition of India
3. Press: paper sales & Interventions.
6. Work in the Working Class
7. Next branch
Please pass on this invitation to anyone that might be interested.
Email email@example.com or call 646-671-7044 to RSVP
Mining in South Africa has been the main driving force behind the history and development of Africa’s most advanced and richest economy. Let me just highlight the wealth of vast resources concentrated in this country. We have 41% of the world’s gold, 45% of the vanadium, 73% of the chrome, close to 80% of the manganese and close to 90% of the platinum.
Our mines are worth 18 trillion Rands, and they have an approximately average life span of 100 years and an estimated job creation potential of 500,000 (in the mining industry alone). We are the second largest producer of gold, the world’s largest producer of chrome, manganese, platinum, vanadium and vermiculite, the second largest producer of ilmenite, palladium, rutile and zirconium, and also the world’s third largest coal exporter.
The working people of South Africa suffer in poverty in the midst of such potential wealth because it is in the hands of a small number of private owners, the capitalists. What we need to do is remove the power of the oligarchy and take full control of the commanding heights of our economy. Nationalization of this wealth is the first step towards solving this major contradiction, but it should also be complemented with the introduction of workers’ control local to national level. That is what the NUM and ANC leaders should be calling for!
Rob Sewell, Leon Trotsky: the man and his ideas
Today marks the anniversary of Leon Trotsky’s assassination. Struck down 72 years ago by an ice-pick to the head from a cowardly Stalinist assassin, he soon fell into a coma and died the following day, 21st August 1940.
ATTN socialists in the NYC/metro area, this Saturday at 12:30pm at 60 Wall St., we’ll (the WIL) be doing a lead off on dialectical materialism. We’ll cover how Das Kapital is not only a book, but also a weapon with which you can beat reactionaries over the head, a door stopper, and even toilet paper too(!) because use-values are always so radically heterogeneous. #DIALECTICAL MATERIALISM
KK is leading off and I’m chairing so it’ll be fun.
email us to RSVP.