The percentage of the total national income that went to the top 400 families in the USA tripled, from .52 percent in 1992 to 1.59 in 2007.The top income earners received a total income of $138 billion in 2007. This figure is larger than the yearly output of most of the world’s countries, and...
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Marx begins his examination of capitalism in Capital with the analysis of the commodity; and he succinctly explains the reason for his starting point in the first paragraph:
“The wealth of societies in which the capitalist mode of production prevails appears as an ‘immense collection of commodities’; the individual commodity appears as its elementary...
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This series of short articles will examine the first volume of Marx’s Capital from a “socialist perspective,” which is to say, with an eye to how an understanding of capitalism can contribute to our understanding of socialism.
I should recognize the obvious fact, right away, that a worker hardly needs to read Capital to arrive...
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The Use-Value of loan capital, which is made available through the banking system, consists of producing profit, and this type of profit is described as interest. The rate of interest is arrived at by competition between lenders and borrowers, or by supply and demand; the lender of loan capital striving to obtain the highest...
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Dirty gossip about the capitalist mode of production
Guess who’s not getting that rose garden???
You would have to search long and hard to find someone who was better at sticking it to the working class than The Economist. It has perfected one of the most truly remarkable posturing acts in the annals of propaganda. When...
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Written by a friends of the WSP. You can contact them here. Not our perspective but important information.
On Wednesday, March 18, 2009 a comrade and I drove from San Francisco to investigate the tent city in Sacramento that we had been hearing so much about in the bourgeois media. It had been covered in...
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Erin McKean, a lexicographer writing in the Boston Globe, gives us a dictionary tour of today’s corporate capitalism and its private jargon that lights up a few interesting dark alleys. “The Word” of the day is “bonus” (as in...
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We continue describing how things could be like in a socialist society, where there would be no need for money.
1. Environment
Bear in mind the aim here is an excursion into the benefits of money totally disappearing from our lives; for all to have access to the necessities of life and in return to contribute...
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Socialist society will have no need for money. This will profoundly affect all aspects of life.
Removing money from the current economic equation would strike most people as impossible, unthinkable, absolutely imponderable. Everything we do, every transaction we make, from a simple cup of tea to sending a space probe to Mars, from birth to...
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