Governments are defending attacks on workers’ living standards as “necessary” to promote “the health of the economy”. But the evidence to date suggests they’ve had the opposite effect. 

Goldman Sachs and the rest of Wall Street gambled on food. Their bets paid off big time – at the cost of igniting a food crisis that pushed hundreds of millions into the ranks of the hungry. 

There seems to be a political consensus on one thing: we need unity through adversity. Yet every week new examples of double standards come to light as the rich continue to push the burden of their errors onto the most vulnerable.

There is a rift apparent coming out of the G20 Toronto summit. On one side are the Europeans and Japan; on the other is the US.

The Financial Times editorial of June 7 said it all: We are about to witness the biggest assault on the working class of Britain in generations.

One phase of the crisis may be over, but there is more economic trouble ahead.

We are living in extraordinary times. The European economy, and possibly even the world economy, may be standing on the edge of a fresh collapse.

A consensus has developed amongst the world’s media commentators: Western workers have it too good; we have to have some good old-fashioned depression-era belt-tightening. 

The European Union has launched a financial bailout, American-style: Flood the banks with government money and make workers pay the price through lower wages, increased unemployment, reduced social spending and higher taxes.

Capitalism has demonstrated that it is unfit to rule. The Greek workers’ struggle points to an alternative. That alternative is socialism.

The Goldman Sachs scandal offers an opportunity to focus on our critique to the capitalist system itself.

The news of strawberry farmers in the United States being pushed to destroy crops because they cannot profitably sell them speaks volumes about the madness of the capitalist market.

In an update on an earlier study, ANU economist Professor Andrew Leigh warns of the danger of the development of “two Australias” caused by an income inequality that has not been so high since the 1920s.

The Greek government's announcement of more austerity measures has provoked a militant response from workers.