What do you give a failed Wall Street bankers that have been bailed out by the tax payer? If you think the sack then think again. According to The BBC Wall Street bankers bonuses for 2009 have gone up a whopping 17% or US$ 20.3 billion. Just mention this to your boss when next negotiating pay!
The Council of Trade Unions (CTU) held its biennial conference in Wellington, New Zealand, on October 21st and 22nd, 2009.
The recent national conference of the Labour Party – held after their recent defeat in the elections – produced some interesting controversy around the question of what Labour should do if it gets back into office. The ideas of Marxism were present in the debate.
Up to a thousand EPMU Solid Energy miners are entering their third week of industrial action as the stand-off over negotiations over multi-employer collective agreement.
The month-long lockout of workers at Talleys-owned Open Country Cheese is over after workers have secured their goal of a collective employment agreement to cover their jobs.
Pakistan Steel is the biggest industrial steel company in Pakistan which plays a vital role in the country’s economy. The rulers are trying to hijack this worker’s institution but workers are fighting back in a militant way.
Twenty years ago as the Berlin Wall came tumbling down the bourgeoisie in the west was euphoric, rejoicing at the “fall of communism”. Twenty years later things look very different as capitalism has entered its most severe crisis since 1929. Now a majority in former East Germany votes for the left and harks back to what was positive about the planned economy. After rejecting Stalinism, they have now had a taste of capitalism, and the conclusion drawn is that socialism is better than capitalism.
Internationally, capitalism is emerging from its worst crisis since the 1930s. There is palpable relief in the ranks of the ruling class at avoiding a financial meltdown. However, despite heated talk of green shoots, there is a universal gloom about the current situation.