Latest News and Comment

The World Bank is proposing lower minimum wages and greater hiring and firing powers for employers as part of a wide-ranging deregulation of labour markets deemed necessary to prepare countries for the changing nature of work. A working draft of the bank’s flagship World Development Report – which will urge policy action from governments when it comes out in the autumn – says less “burdensome”
9 hours 5 min ago
Hundreds of thousands of the poorest families in Britain are going without basic necessities, according to two separate surveys. Citizens Advice said as many as 140,000 households are going without power, as they cannot afford to top up their prepayment meters. And the Living Wage Foundation - which campaigns for fair pay - said many of the poorest parents are skipping meals. The survey
12 hours 5 min ago
NHS staff, council officials and gig economy workers are among the most regular applicants for payday loans, which charge interest of up to 1,325% per year, industry data has revealed. In Birmingham, Leeds and Manchester, city council workers were among the most frequent applicants for the ultra-high interest debt last month, according to figures from a loan comparison website. In Leicester,
12 hours 5 min ago
The future of humanity is that we will either drift on in eternal slavery, perhaps disappear from the Earth from an environmental cataclysm or it will seek out and find a new road through which it will attain the cooperative commonwealth - real socialism.  People are not going to submit forever to an existence of want and idleness when they can see within their reach an abundance of machinery and raw material more than enough to satisfy their needs. They will realise that it depends only on their will and daring to change their miserable status to one of comfort and abundance. When we attempt to understand the whole situation sanely, we can say there really are no natural causes for human suffering (economically speaking). After all, so long as the human race exists, the Earth will produce crops, the trees will yield fruit, gardens will grow vegetation, cows will feed us milk and human skill and ingenuity will always provide comfort and luxury for all. Why, then, must the life and happiness of a whole race depend on the financial sheet prepared somewhere in a Wall Street office? Why should we dwell in misery and leave the politicians and stockholders to decide our fate with “percentages”, “returns” and other hocus-pocus chicanery of the market? There are plenty of resources on our planet to be shared by all people alike. And if they ever come to realise that no minority class has a moral or legal right to declare a monopoly of the land and her products, they will then visualise a just and humane social order. Every war which the State has engineered at the behest of capitalism was imposed upon the people under fraudulent claims as are the imposed systems of economic exploitation during times of peace. The State is the legal protector of the wealth it has taken from the producing masses.  No one can deny that the main tendency of capitalism is leading to increasing economic panics, unemployment, and competitive conflicts among capitalist nations themselves - all this heads inevitably towards barbarism. In the bankruptcy in which capitalist economy finds itself, war is the only industry really profitable because it is capable of putting labour and capital in motion and of securing a safe market for the unlimited efficiency of modern production. War, therefore, is a matter of life and death also for the capitalist system of economy. Mankind will forever face a bitter-struggle for existence just so long as the system of distribution will be based on individual or corporate profiteering, which is at the centre of our prevailing social order. All the wizardly juggling of figures by expert financiers in the ledger sheets and all the scheming acrobatics introduced in budget balancing, tax revision, wage and labour adjustment, tariff barriers, etc., will not help to alleviate the ills of the suffering masses who are the chief victims in the periodic crises. At most, these clever manipulations can only serve to transpose the surplus profits from one individual or group of profiteers to another. The truth of the matter is that no political candidate dares to speak about the causes of all the resulting evils which the people suffer from capital and government. Capitalism could not exist without the forceful protection of government, and the latter. Even if the governing institutions were better constituted and of a higher moral character, still the State would not be what the State idea pretends to be. It has been founded and is nurtured for the purpose of protecting and perpetuating the reign of the ruling class. Against the system of capitalism and its government, the socialist advocates voluntary cooperation among men and women for the economic equality and social democracy of all.  The formation of a new society, is possible alone through socialism, i.e., through the re-establishment of the natural relations of men and women and their communities to one another.  Every living being strives unceasingly for enjoyment of life; this endeavour is the basis of all his or her actions. Each human being seeks to learn by what ways and means he or she can attain the highest purpose of life. Through experience and observation one arrives at the conclusion that the individual separated from the society of his or her neighbours produces the mere necessities of life by the utmost wearisome labour, but that through the common labour of many, these necessities are easily and readily obtained, allowing leisure for the pursuit of the arts and sciences, by which life is made pleasanter and richer; this knowledge imposes upon one the duty of working for the common weal, since each individual welfare is assured only through universal well-being. By experience and clear knowledge of the qualities of mankind, we arrive at the firm conviction that a lasting welfare of society can be established only through the socialist society.

12 hours 5 min ago
UBS wealth management polled 5,000 high-net worth individuals (HNWIs), defined as having at least $1m in investable assets, across 10 countries including Germany, the UK, US and Taiwan, and found that 53% expect to live to the age of 100.  The UBS report, entitled The Century Club, concluded: “The idea of living a century was once confined to science fiction. But no longer. For the world’s
15 hours 6 min ago