A non-partisan journal of the left.

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The Major Policy of the Current Coalition Government is NOT Fiscal Balance But an Increased Rate of Income Shifting From Wage Earners to the Pockets of the Already Rich

The policy of the Coalition Government is not the much-trumpeted and unachievable aim of a balanced budget but the deliberate lowering of median British living standards and the production of more poverty... [read more]

Autonomy and progressive policies

How much should individuality be important for progressive forces? And is it possible to reconcile economic utility and individual autonomy?... [read more]

The Gift of Death

Every year we splurge on pointless, planet-trashing products, most of which are not wanted. Why not just bake them a cake, asks George Monbiot. ... [read more]

Trump Takes on the Fed

The president has criticized Federal Reserve policy for undermining his attempts to build the economy. The best way to make the central bank serve the needs of the economy is to make it a public utility.... [read more]

Killing Off Community Banks: Intended Consequence of Dodd-Frank?

The Dodd-Frank regulations are so lethal to community banks that some say the intent was to force them to sell out to the megabanks... [read more]

The Greek Coup: Liquidity as a Weapon of Coercion

In the modern global banking system, all banks need a credit line with the central bank in order to be part of the payments system... [read more]

Greece: Alternatives to the Capitulation

On 5 July 2015 the Greek people overwhelmingly rejected the austerity measures imposed by the institutions that were known as the Troika... [read more]

Review: VJ McGill on Russell's Critique of Marxism

In the "The Philosophy of Bertrand Russell" volume in the Library of Living Philosophers (1944) VJ McGill (1897-1977) published a detailed critique of Russell's political and economic philosophy... [read more]

The Fed Protects Gamblers at the Expense of the Economy

Although the repo market is little known to most people, it is a $1-trillion-a-day credit machine, in which not just banks but hedge funds and other “shadow banks” borrow to finance their trades... [read more]

38 Reasons to Cancel the “Kosova e Re” Power Plant

On 20 December 2017, then Minister of Economic Development Valdrin Lluka signed an agreement with ContourGlobal, an American company, to build “Kosova e Re”, a 500 MW coal-fired power plan... [read more]

The Key to Solving the Climate Crisis Is Beneath Our Feet

The Green New Deal resolution that was introduced into the U.S. House of Representatives in February hit a wall in the Senate, where it was called unrealistic and unaffordable... [read more]

Central Bankers' Desperate Grab for Power

Central bankers are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, admitted as much in a speech at the annual meeting of central bankers... [read more]

Facebook May Pose a Greater Danger Than Wall Street

Payments can happen cheaply and easily without banks or credit card companies, as has already been demonstrated—not in the United States but in China.... [read more]

The Public Banking Revolution Is Upon Us

As public banking gains momentum across the country, policymakers in California and Washington state are vying to form the nation’s second state-owned bank, following in the footsteps of the highly successful Bank of North Dakota, founded in 1919.... [read more]

Why Is the Fed Paying So Much Interest to Banks?

When “Mary Poppins” was made into a movie in 1964, Mr. Banks’ advice to his son was sound. The banks were then paying more than 5% interest on deposits, enough to double young Michael’s investment every 14 years.... [read more]

The Secret to Funding a Green New Deal

As alarm bells sound over the advancing destruction of the environment, a variety of Green New Deal proposals have appeared in the U.S. and Europe... [read more]

The Fed's Dramatic About-Face

“Quantitative easing” was supposed to be an emergency measure, but the Federal Reserve is now taking a surprising new approach toward the policy.... [read more]

How America Can Free Itself From Wall Street

Wall Street owns the country. That was the opening line of a fiery speech that populist leader Mary Ellen Lease delivered around 1890. Franklin Roosevelt said it again in a letter to Colonel House in 1933, and Sen. Dick Durbin was still saying it in 2009. ... [read more]

Banks Are Becoming Obsolete in China—Could the U.S. Be Next?

The U.S. credit card system siphons off excessive amounts of money from merchants. In a typical $100 credit card purchase, only $97.25 goes to the seller. The rest goes to banks and processors. But who can compete with Visa and MasterCard?... [read more]

Fox in the Hen House: Why Interest Rates Are Rising

The Fed is aggressively raising interest rates, although inflation is contained, private debt is already at 150% of GDP, and rising variable rates could push borrowers into insolvency. So what is driving the Fed’s push to “tighten”?... [read more]

Saving Illinois: Getting More Bang for the State’s Bucks

Illinois is teetering on bankruptcy and other states are not far behind, largely due to unfunded pension liabilities; but there are solutions.... [read more]

Getting out of mass society in order to foster social change

Social change needs good politics. Good politics needs communities. And communities need individuality... [read more]

Fast-track Hands the Money Monopoly to Private Banks — Permanently

In March 2014, the Bank of England let the cat out of the bag... [read more]

Modern Ukraine RIP (Born 1991- Died 2014)

Dr Tomasz Pierscionek explains how Ukraine, as it once was, no longer exists... [read more]

The USSR – the Democracy You Didn’t Know About

Kate Zagoskina explains the origins of democracy and it various manifestations throughout history... [read more]

The Trans-Pacific Partnership and the Death of the Republic

On April 22, 2015, the Senate Finance Committee approved a bill to fast-track the Trans-Pacific Partnership (TPP)... [read more]

With this attack on community energy the big six win out over 'big society'

By changing the rules, this government has sabotaged the promise of a UK community energy revolution and secured the dominance of the big six energy companies, writes George Monbiot.... [read more]

Growth: the destructive god that can never be appeased

The blind pursuit of economic exapansion stokes a cycle of financial crisis, and is wrecking our world. Time for an alternative, writes George Monbiot.... [read more]

Ukraine: NATO hypocrisy over “Russian invasion” as Kiev suffers defeat

As politicans from across the world met at the NATO summit in Wales, the crisis in Ukraine saw an escalation in rhetoric... [read more]

Fidesz Will Spend More Than Twice The Legal Limit in Hungarian Elections...And Get Away With It

The Hungarian General Election takes place on Sunday April 6. The spotlight has been on the far right party, Jobbik, which will be fielding a national list at the polls... [read more]

The Different Sources of Unemployment, and the Economic Remedy for Each of These

Unemployment is a complex phenomenon. The ultimate roots of all large-scale unemployment is the lack of an adequate economic understanding by a country’s professional economic advisors and its politicians... [read more]

A journey into the vice-ridden world of banking

The primary objective of the world’s leaders is to avoid another banking and financial crash that could be worse than the one in September 2008... [read more]

The Leveraged Buyout of America

In a letter to Federal Reserve Chairman Ben Bernanke, US Representative Alan Grayson and three co-signers expressed concern about the expansion of large banks into what have traditionally been non-financial commercial spheres... [read more]

Is there an alternative to the Labour Party?

Trade unionist Karl Davis looks at comments made by RMT General Secretary Bob Crow who called for the formation of a new political party for workers... [read more]

Who Turned the Lights Off?

Thomas Riggins reviews Jonathan Israel's analysis of Anthony Pagden's new book - The Enlightenment and why it still matters... [read more]

Not just a pretty Face(Book)

Google has a rival. Mirage discusses the rise of the social media application Facebook as it lays down the gauntlet... [read more]

Book review- The Strongman: Vladimir Putin and the Struggle for Russia

David Lane reviews ‘The Strongman: Vladimir Putin and the Struggle for Russia’ by Angus Roxburgh... [read more]

Canadian and US Unions Offer Solidarity to Threatened Mexican Workers

Daina Z. Green reports on the terrorism of Mexican unions by their own Government in support of business interests over that of their own workers. ... [read more]

The Recession is the Government's Opportunity to Act on its Green Promises

Luke Aldred argues the current economic crisis represents a perfect opportunity for the British government to implement far-reaching changes to make Britain greener and more sustainable.... [read more]

Labour Must Endorse Living Wage Campaign to Win Back Popular Support

Matt Genner argues that committing itself to a national living wage would help restore Labour's credentials as the mainstream party most committed to social justice. ... [read more]

The Pleasures of the Flesh

If you care about hunger, eat less meat.... [read more]