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Wage labour, in the form of labour-power, sold as a commodity, has been analysed, but what about capital? According to bourgeois economics, “Capital consists of raw materials, instruments of labour, and means of subsistence of all kinds, which are utilised in order to produce new raw materials, new instruments of labour, and new means of subsistence. All these component parts of capital are creations of labour, products of labour, accumulated labour. Accumulated labour which serves as a means of new production is capital.” (p 27-8) Is that true? No. Just as in previous societies, labour-powe ..read more

Joe Biden's support for the Zionist genocide in Gaza has been steadfast, as he wholesales the lies being retailed by the Zionist regime. When it comes to Zionism and its genocide in Gaza, there is no room for dissent in the US, Democrat and Republican politicians speak in one voice, and anyone attempting to present even the slightest glimmer of criticism of that genocide or US imperialism's support for it, has to be crushed mercilessly, whether by the force of the huge ideological apparatus of the state, or alternatively by the use of the state's bodies of armed men. This is the definition of ..read more

The theory of the so called wealth effect, which is also behind the argument for “trickle down economics”, is that, as people feel “wealthier”, as a result of the money price of their assets rising, they spend more money, and this increases aggregate demand in the economy, creating more jobs and so on. It is nonsense. What inflated asset prices did was to create a speculative fervour, so that rather than encouraging higher levels of consumer spending, they encouraged consumers to divert spending on consumption to spending on the purchase of assets for fear of missing out. In the case of housin ..read more

 This is what the start of totalitarianism in a mass society looks like! Biden's stormtroopers have immense physical force to mobilise against the peaceful student protests springing up across US university campuses.  Like the forces of Zionism in Palestine, they are indirectly supporting, and which itself trained these US police forces, they have an overwhelming monopoly of violence.  In the end, that is the role of the state, when all of its other methods, based on the use of ideology, and its mass media have failed. Across the US, Biden's stormtroopers are using that monopo ..read more

It is necessary to know what time of day it is, in formulating policy and strategy, and these adventurist positions were wholly damaging, in a counter-revolutionary period. But, the reason for their adoption was not entirely due to the incompetence of Stalinism and its desertion from Marxism. The policy also acted to distract attention from its failures, and to provide it with a superficial, revolutionary panache. “Even though there was no revolutionary situation and the working masses were abandoning the Party, this Committee declared that the economic and social situation was, in its opinio ..read more

Zionism is winning, as I always expected it would, its military offensive against the Palestinian people.  It is a military superpower in its own right, and backed by the world's largest military superpower, the US, and by the next biggest military superpowers the EU and UK.  That it could wipe out the Palestinians militarily was never in doubt, even without resorting to the use of its nuclear weapons as proposed by one of its politicians, and at least one US Republican politician.  As I wrote recently, it is, now, well on its way to completing its genocide against the Palestini ..read more

There are a series of contradictions faced by bourgeois-democracy, each of which is inter-related, and many of which arise as a result of the solutions utilised for previous contradictions, themselves creating new contradictions. This is very like the situation described by Marx in The Poverty of Philosophy, that resulted from Proudhon's method, and that is not surprising, because the method of social-democracy, is pretty much that same method. The fundamental contradiction is that socialised capital, as a transitional form of property, is objectively the collective property of workers, but i ..read more

Zionist fascists have combined with Biden's stormtroopers to attack peaceful, pro-Palestine students at UCLA in California. Across The USA, where polls show a large majority of the population hostile to the genocide being undertaken by the Zionist regime, supported by western imperialism, the state has been mobilising its bodies of armed men to break up protests, and to deny the right to free speech. All of the facade of bourgeois-democracy is collapsing at an increasing pace as it tries to defend its genocide in Gaza, alongside its imperialist war in Ukraine, and its growing militarist stance ..read more