Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: https://secure.socialistparty.org.uk/issue/965/26239

From The Socialist newspaper, 4 October 2017

Capitalism and human progress

Tory leader and Prime Minister Theresa May, photo Policy Exchange/Creative Commons

Tory leader and Prime Minister Theresa May, photo Policy Exchange/Creative Commons   (Click to enlarge)

Simon Carter

How appropriate that Theresa May's speech insisting our interests were best served by free market capitalism - "the greatest agent of collective human progress ever created" - came in the same week as budget airline Ryanair cancelled over 700,000 passenger flights and bankrupt Monarch Airlines left 110,000 holidaymakers without a flight back home, along with 860,000 cancelled future bookings (see article below).

Undaunted, the prime minister continued her defence of capitalism, adding: "We should never forget that raising the living standards, and protecting the jobs, of ordinary working people is the central aim of all economic policy."

Unfortunately for May the capitalist International Monetary Fund (IMF) has produced a report pointing to slowing productivity growth, income inequality and low wage growth for putting the brakes on the UK economy - the product of neoliberal economic policy embraced by the Tories.

The report's author, Tao Zhang, says income inequality is weighing down overall global consumption, reducing it by about 3.5% over the last 15 years. "This represents an important headwind to aggregate demand," says Zhang. And whereas real wages in the UK have fallen over 10% on average since the financial crisis, the richest 1,000 individuals have doubled their wealth since 2010.

Of course, May has lauded the UK's headline unemployment figure - the lowest in 42 years. So how come poor wage growth?

According to the IMF, the capitalist 'gig economy' - with its precarious jobs, zero-hour contracts and lousy employment rights - has allowed companies to peg back pay.

So, capitalism is not so much the agent of collective human progress, but rather collective human misery.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 4 October 2017:


Catalonia

Solidarity with Catalonia - the people have the right to decide

Exemplary resistance by the people of Catalonia

Eyewitness: Irish socialist MP participates in events


What we think

The Tories must be driven out


Socialist Party workplace news

Royal Mail workers set for national strike action

Unison attacks Barts deal after failing to ballot their members for strike action

RMT strikes against removal of train guards spreads

University of Leeds workers walk out

ThyssenKrupp - Tata steel merger


Che Guevara

Revolutionary socialist Che Guevara 50 years on


Labour Party conference

Labour Party conference: Action against establishment sabotage still needed


Socialist Party news and analysis

Capitalism and human progress

Monarch abdicates responsibility to workers

Bending the knee v Trump


Socialist Party reports and campaigns

Tories wreck our NHS

11,000 raised in three weeks for fighting fund

Why I joined: I wanted to change things

Chatsworth ward campaign replies to Tory MP's intervention

Surveying Labour councillors - will they fight cuts?

Leeds Socialist Students marks 'International Safe Abortion Day'

Protest outside Ukip conference against German far-right speaker


 

Home   |   The Socialist 4 October 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Capitalism:

triangleLondon Socialist Party: Capitalism in Crisis

triangle20 September climate action day: Strike to save the planet!

triangleAt 96 I'm more convinced of socialism than ever

triangleImperialist tensions escalate as world economy teeters

triangleThe 'national unity' threat to Corbynism

Jobs:

triangleFighting PCS general secretary needed - Marion Lloyd: Why I am standing

triangleBasingstoke Socialist Party: Uniting and organising workers to defend jobs and wages

triangleBasingstoke Socialist Party: Uniting and organising workers to defend jobs and wages

triangleWhat strategy can end the retail jobs massacre?

IMF:

triangleRevolution and counter-revolution in Sudan

triangleSudan: No to rule of the generals!

triangleVenezuela: resist the pro-imperialist coup!

Inequality:

triangleBuild a working-class movement to force an election

triangleCancer stats reveal deep inequality

Economy:

triangleYork Socialist Party: Was Marx right about the economy?

Capitalist:

triangleClimate change: what's socialism got to do with it?

Wealth:

triangleAristocrats are rich after all... and getting richer

Wages:

triangleHuge workload, low pay and unpaid hours - a day in the life of a teaching assistant

Zero-hour contracts:

triangleWorkplace victory emboldens retail workers to get organised

Budget:

triangleCouncil seeks to take budget deficit out on school staff and pupils

Market:

triangleWhat lies behind the US-China trade war?

Theresa May:

triangleTheresa May admits tuition fees system is broken - but plans new attacks on students

News and socialist analysis

News and socialist analysis

18/9/19

PCS

Building a new left in PCS

18/9/19

Climate change

Climate change: what's socialism got to do with it?

18/9/19

Workers

Stand firm against the pro-capitalist politicians

18/9/19

EU

Trade union movement must put its stamp on swirling events

18/9/19

Northern Ireland

Northern Ireland: Campaign mounts over historic sexual abuse allegations cover-up

18/9/19

Students

How students can fight and win

18/9/19

Tories

Ditch the Tories - and austerity

11/9/19

Scotland

Scotland and Brexit: Developing threat to the capitalist union

11/9/19

General election

Tory meltdown - Organise to finish them off

6/9/19

Government

Tories in tatters: Corbyn must seize the time

4/9/19

Demonstration

Marches, blockades, strikes, occupations... How can protests win?

4/9/19

Socialist Party

Dozens of protests say Boris must go - Socialist Party policies heard on TV

4/9/19

Retail

What strategy can end the retail jobs massacre?

4/9/19

Wales

Austerity anger feeds movement for Welsh independence

4/9/19

Bury

Bury expelled from football league: Boot out the bosses ruining our game

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07954 376 096

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


September 2019

August 2019

July 2019

June 2019

May 2019

April 2019

March 2019

February 2019

January 2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999