The State of the World Economy and the Coming Recession (Audio)

Below is a recording of Marxist World Editorial Board member Steve Dobbs leading off a discussion on the world economy and economic developments from a Marxist perspective. It was recorded with permission at the Wycombe Labour Party General Meeting in February 2016.

Highlighted is the failure of the “BRICS” countries to revive global economic growth despite investor hopes that they were the way out of the 2008 financial crash and subsequent Great Recession. Declining corporate profit rates, rising debt and the likelihood of a new recession is discussed based on evidence from serious economists. Whilst the lead-off focuses on the state of global capitalism, the socialist alternative to capitalist crisis is briefly mentioned at the end, although lack of time prevented it from being elaborated.

Following the lead-off, the floor was opened to questions from the audience of over 30 Labour members, ranging from the nature of socialism, the EU, the parallels with the political situation in the USA and whether the wider electorate is ready for a socialist programme. At the end of the meeting, four copies of the Marxist World journal were sold along with a second-hand copy of Marx’s Capital Volume One!