Showing posts with label globalization. Show all posts
Showing posts with label globalization. Show all posts

Thursday, April 22, 2010

We are entering a New Age of World Austerity

Written by Rob Sewell
Wednesday, 21 April 2010


Photo by Dorothea Lange

As the world economy emerges from recession it is clear that the recovery is going to be weak. All governments also face a huge debt overhang, which means that whoever is in power will have to carry out stringent economic measures and it is the working class who will be made to pay. This opens up the prospect of huge class contradictions opening up in the coming period.

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