Governments everywhere are pumping money into the world economy to keep it on life support. Followers of Keynesian ideas – of government stimulus and demand-side management – feel vindicated. But only Marxism offers a solution.

As large segments of the population face unemployment and loss of income as a result of COVID-19, governments have begun providing relief to individuals in the form of a basic monthly income. This has raised the question: Why not provide universal basic income in normal times? Some on the left are arguing that we should, […]

Canada entered this week facing a horrifying stage in the COVID-19 pandemic.  Until recently, efforts focused on “flattening the curve,” whereby health authorities insisted on “social distancing” and mass testing to relieve the strain on hospitals. These efforts have largely fallen short. While B.C. and Alberta seem to have had some success in limiting COVID-19’s […]

La version française de ce texte est disponible sur La Riposte socialiste. In order to understand what is to come it is necessary to understand what came before. In January and February 2020 the Fightback editorial board drafted the following perspectives document. This piece outlined the general processes in Canadian politics and economy in order […]

The COVID-19 outbreak has spread rapidly across the globe, leaving unprecedented social, political and economic dislocation in its wake. Despite the delay, Canada too is now feeling its impact.  As of now, more than 190 people have been diagnosed with the virus in Canada. This is likely an underestimate given the absence of wide-scale testing. […]

Events on a world scale are moving at breakneck speed. The new coronavirus (COVID-19) has set in motion a chain reaction, which is upending any semblance of stability in one country after another. All of the contradictions of the capitalist system are coming crashing to the surface.

“People are running scared,” said Andrew Sullivan, director at Hong Kong brokerage Pearl Bridge Partners, as the capitalist system faces an economic meltdown. This is Black Monday all over again. Stock markets around the world, from London to Tokyo, are in free fall. Everything is pointing to a repeat of 2008 but on a higher […]

Business news headlines recently bemoaned the incidence of “bond yield inversions” in a series of countries as supposedly the harbinger of doom and destruction. Many working-class people were left scratching their heads about what on earth this all means. 10 years after the “Great Recession”, many could be forgiven for thinking that we have been […]

Stock markets have experienced a roller-coaster ride over the past two months, as Trump’s erratic trade policy has brought the world economy to the brink of recession. In the latest move, Trump yet again partially postponed the introduction of new tariffs, which he announced two weeks ago. This temporary reprieve will do little to solve […]

Canada’s scandal-plagued Liberal Trudeau government delivered its fourth and possibly final budget on Tuesday. The new budget retains the soft language (the word “gender” features more than 250 times) and talk about helping the disadvantaged that marked previous budgets. But looking at the numbers, this budget has very little to offer the working class. In […]