A Marxist analysis of the current global recession? [Archive]

TrotskistMarx

22nd April 2012, 03:21

Dear friend: I have what you need here in this link http://www.marxist.com/world-perspectives-2012-draft.htm That is the first part of a thesis-article divided into 8 sections of the global economic crisis. Here is a bit of preview of this scientific marxist thesis of 8 sections of the current global crisis:

We begin today the publication of the IMT’s analysis of the world situation. This is a draft document that is the basis of discussion within the Tendency and will be voted on with possible amendments at this year’s world congress of the IMT. Part One deals with the general crisis of world capitalism, to be followed by an analysis of specific areas of the world.

The situation is moving at lightning speed on a world scale. After the Arab Revolution, events followed in quick succession: the movement of the indignados in Spain; the wave of strikes and demonstrations in Greece; the riots in Britain; the movement in Wisconsin and the Occupy movement in the U.S.; the overthrow of Gaddafi; the fall of Papandreou and Berlusconi; all these are symptoms of the present epoch.

These sudden sharp turns indicate that something fundamental has changed in the entire situation. Events are beginning to impinge upon the consciousness of ever-broader layers of the population. The ruling class is increasingly divided and disoriented by the depth of a crisis they never expected and have no idea how to solve. Suddenly they find themselves unable to maintain control of society by the old methods.

Instability is the predominant element in the equation at all levels: economic, financial, social and political. Political parties are in crisis. Governments and leaders rise and fall without finding any way out of the impasse.

Most important of all, the working class has recovered from the initial shock of the crisis and is moving into action. The advanced elements of the workers and youth are beginning to draw revolutionary conclusions. All these symptoms mean that we are entering the opening chapter of world revolution. This will unfold over years, possibly decades, with ebbs and flows, advances and retreats; a period of wars, revolution and counterrevolution. This is an expression of the fact that capitalism has exhausted its potential and has entered a phase of decline.

This general observation, however, does not exclude the possibility of certain periods of recovery. Even in the period 1929-39 there were cyclical variations, but the general tendency will be in the direction of longer and deeper recessions, interrupted by shallow and ephemeral booms. The “recovery” that followed the slump of 2008-9 is indicative of this tendency. It is the weakest recovery in history—the weakest since 1830, according to the bourgeois economists—and merely paves the way for an even deeper slump.

This reflects the fact that the capitalist system has arrived at a dead end. Capitalism has been piling up contradictions for decades. At bottom, the crisis is a manifestation of the rebellion of the productive forces against the narrow straitjacket of the capitalist system. The main barriers that are blocking the development of civilization are, on the one hand, private ownership of the means of production and on the other hand, the nation state.

For a period, this contradiction was partially and temporarily resolved by an unprecedented expansion of world trade (“globalization”). For the first time since 1917 every corner of the globe is united in one vast world market. However, the contradictions of capitalism were not abolished by this, but merely reproduced on a vast and unprecedented scale. Now the bill is being presented.

“Globalization” now manifests itself as a global crisis of capitalism. The tremendous productive capacity that has been built up on a world scale cannot be used. This crisis has no real parallel in history. The scale of it is far greater than any crisis in the past. The strategists of capital are like the ancient mariners who have entered an unexplored ocean with neither map nor compass. There is now a general crisis of confidence in the ranks of the bourgeoisie internationally.

I'm looking for a Marxist analysis of the current global recession, I'm currently researching this myself but any help would be greatly appreciated.