This article is meant to clarify a point made earlier (Why Didn’t Socialism Have Over-Production Crisis, Newsclick, June 30, 2018) about the erstwhile socialist economies not having over-production crises as capitalist economies do.
It is in the nature of capitalism to have “over-production crises”, i.e., crises arising from “over-production” relative to demand. “Over-production” does not mean that more and more goods keep getting produced relative to demand, so that unsold stocks keep piling up. This may happen only for a brief period in the beginning; but as stocks pile up, production gets curtailed, causing recession and greater unemployment.
On Saturday, there will be a march from Australia House in London to Parliament Square, the centre of British democracy. People will carry pictures of the Australian publisher and journalist Julian Assange who, on 24 February, faces a court that will decide whether or not he is to be extradited to the United States and a living death.
I know Australia House well. As an Australian myself, I used to go there in my early days in London to read the newspapers from home. Opened by King George V over a century ago, its vastness of marble and stone, chandeliers and solemn portraits, imported from Australia when Australian soldiers were dying in the slaughter of the First World War, have ensured its landmark as an imperial pile of monumental servility.Read More »
This week’s edition of the Lancet—the world’s pre-eminent peer reviewed medical journal—carries a letter from 117 medical doctors in 18 countries, renewing their call for urgent action to save the life of WikiLeaks publisher Julian Assange. Their letter appears less than one week before the start of the US extradition hearing in London that may decide Assange’s fate.
The doctors’ two-page letter appears in the correspondence section of the Lancet under the heading “End torture and medical neglect of Julian Assange.” It was written by Dr Stephen Frost (UK), Dr Lissa Johnson, clinical psychologist (Australia), Dr Jill Stein (former leader of the US Green Party) and William Frost (UK).Read More »
On February 15, thousands marched in Munich, Germany, protesting against the Munich-Security Conference 2020 hosted in the city from February 14 to 16 Sunday. More than 5,000 people joined the protest called by anti-war, anti-NATO organizations against the meeting of the war hawks of the European Union (EU) and NATO. North Atlantic Treaty Organization or NATO is an intergovernmental military alliance between North American and European countries and is often criticized for its imperialistic and warmongering manuverous. Activists from the German Communist Party (DKP), Socialist German Workers Youth (SDAJ), Communist Party of Greece (KKE) and Turkish Communist Party (TKP) have also joined the protest. Read More »
German chemicals giant Bayer announced Monday its intention to “swiftly appeal” a U.S. jury’s decision to award a Missouri peach farmer over $265 million in compensation for years of crop losses as a result of drifting dicamba weedkiller.
The legal challenge was the first dicamba suit to go to trial and was brought forth by Bill and Denise Bader, owners of Bader farms. Dicamba is produced by Monsanto, which Bayer acquired in 2018.
Mr. Bader’s suit challenged (pdf) Monsanto’s “willful and negligent release of a defective crop system—namely its genetically modified Roundup Ready 2 Xtend soybeans and Bollgard II Xtend cotton seeds (“Xtend crops”)—without an accompanying, EPA-approved dicamba herbicide.”
WASHINGTON – A new report from anti-poverty campaigners Global Justice Now has found that Britain’s development bank, CDC Group, is doing more harm than good around the world, nearly a decade after the Conservative-led government pledged to reform it following a string of scandals.
As the sixth international development secretary in the last five years, Anne-Marie Trevelyan, takes up her role, the campaigners are calling for CDC to be given a new mandate and structure as part of a root and branch reform. Read More »