As Adam Booth explains in this article, serious bourgeois economists can see a new world economic slump coming, which they have no way of averting, having already used all the traditional measures they would have adopted in the past, lowering interest rates, credit, etc. In these conditions any important event, such as a Greek default or a dramatic turn of events in the Middle East, can trigger an unravelling of all the pent up contradictions.
The Battle of Waterloo - 200 years ago, on 18th June 1815 - was the last great event that marked the end of that great historical process that was begun in 1789 by the Great French Revolution. With the defeat of Napoleon, the last flickering embers of the fires lit by revolutionary France were extinguished. A long, grey period settled down on Europe like a thick coat of suffocating dust. The forces of triumphant reaction seemed firmly in the saddle.
Written in 1894
The happy idea of using a proletarian holiday celebration as a means to attain the eight-hour day was first born in Australia. The workers there decided in 1856 to organize a day of complete stoppage together with meetings and entertainment as a demonstration in favor of the eight-hour day. The day of this celebration was to be April 21. At first, the Australian workers intended this only for the year 1856. But this first celebration had such a strong effect on the proletarian masses of Australia, enlivening them and leading to new agitation, that it was decided to repeat the celebration every year.
The past two decades have witnessed a barrage of propaganda against Marxism and its revolutionary heritage. Since the collapse of Stalinism – not socialism, but a monstrously deformed caricature of Marxism - from one front to another the mainstream media, universities, professors and historians have gone on the offensive to discredit Marxism. We examine here the most common myths about Marxism and socialism.
Ninety years ago, on 21st January 1924, Vladimir Lenin, the great Marxist and leader of the Russian Revolution, died from complications arising from an earlier assassin’s bullet. Ever since then there has been a sustained campaign to slander his name and distort his ideas, ranging from bourgeois historians and apologists to various reformists, liberals and assorted anarchists. Their task has been to discredit Lenin, Marxism and the Russian Revolution in the interests of the “democratic” rule of bankers and capitalists.
What is value? This question has perplexed the human mind for more than 2,000 years. The classical bourgeois economists grappled with the question, as did Marx. After much deliberation, they correctly hit upon the idea that labor was the source of value. This, then, became a cornerstone of bourgeois political economy, beginning with Adam Smith. On this question, there was common ground between Marx and the classical bourgeois economists.