The economic crisis: Understanding causes and solutions






What will be impact of the Wall Street bankruptcies, bailouts and blunders on working people in this country and worldwide? What's the solution to the crisis?



Perhaps only time will tell the full extent of the impact. Needless to say, this week’s developments don’t bode well for the future. Here are some thoughts from contributors to the People’s Weekly World and Political Affairs on the current economic crisis, the policies that got us to this point and the historical precedents.

We will update this resource list in the days and weeks to come, as the full scope of the crisis is better known.







Latest headlines...



Auto Bailout: 'We're Gonna Own Your Ass'
by PA
Dec. 4, 2008 – Political Affairs.net



As economic crisis worsens, hunger stalks the land
by Tim Wheeler
Dec. 3, 2008 – People's Weekly World



Union Leader Slams Wall Street/GOP Hypocrisy
by PA
Dec. 3, 2008 – PoliticalAffairs.net



People Before Profits: Economic stimulus in China and the U.S.
by Wadi'h Halabi
Dec. 3, 2008 – People's Weekly World



They auto know better: Fueling anti-union fires
by Walter Brasch
Dec. 1, 2008 – People's Weekly World



November 2008



Obama projects massive recovery plan
by Susan Webb
Nov. 26, 2008 – People's Weekly World



Global labor needs a global stimulus
by Scott Marshall
Nov. 25, 2008 – People's Weekly World



Reflections on the (Unplanned) Death of an Ideology
by Peter Zerner and Joel Wendland
Nov. 24, 2008 – PoliticalAffairs.net



The Crash of 2008 and Historical Materialism
by John Case
Nov. 24, 2008 – PoliticalAffairs.net



Let the nation own the Big 3
by Ralph Shaffer and Norma Jeanne Strobel
Nov. 24, 2008 – People's Weekly World



Nationalization (Not Loans) Can Save US Auto
by John Case
Nov. 18, 2008 – PoliticalAffairs.net



World unions: Time for a global economic fix is now
by John Wojcik
Nov. 17, 2008 – People's Weekly World



Opinion: Recovery Package for Working Women
by Ellen Bravo
Nov. 17, 2008 – People's Weekly World



How More Socialism Can Save the Economy
by John Case
Nov. 12, 2008 – PoliticalAffairs.net



Jobs Report Signals Need for New Stimulus Package
by PoliticalAffairs.net
Nov. 7, 2008



240,000 Jobs Lost Last Month
by John Wojcik
Nov. 7, 2008 – People's Weekly World



Economy fix can’t wait until 1.20.09
by John Wojcik
Nov. 6, 2008 – People's Weekly World



Government by Market Gods or for the People?
by Anna Pha
Nov. 5, 2008 – PoliticalAffairs.net



Inject Demand into the Economy not Liquidity
by Prabhat Patnaik
Nov. 3, 2008 – PoliticalAffairs.net



Oct. 2008



Credit Crunch Hits College Students
by Matthew Cardinale
Oct. 24, 2008 – PoliticalAffairs.net



'Jobs for workers come first'
by John Wojcik
Oct. 23, 2008 – People's Weekly World



Time Warp: Hoover, Bush, McCain and Economic Crisis
by Norman Markowitz
Oct. 23, 2008 – PoliticalAffairs.net



Economic crisis clobbers California
by Marilyn Bechtel
Oct. 17, 2008 – People's Weekly World



Marx was right
by PWW/NM Editorial Board
Oct. 17, 2008 – People's Weekly World



Nationalize banks, employ unemployed
by John Case
Oct. 16, 2008 – People's Weekly World



Revising the Social Contract
by Norman Markowitz Oct. 16, 2008 – PoliticalAffairs.net



Presidential Debate Fact Check: McCain's Big Bank Bailout
Oct. 16, 2008 – PoliticalAffairs.net



Some Reflections on the Turbulence of Alan Greenspan
by Thomas Riggins
Oct. 15, 2008 – PoliticalAffairs.net



Labor-led coalition demands recovery plan for Main Street
by John Wojcik
Oct. 9, 2008 – People's Weekly World



Is this Capitalism’s End of Days?
by Norman Markowitz
Oct. 8, 2008 – PoliticalAffairs.net



The crisis of family debt
by Art Perlo Oct. 6, 2008 – People's Weekly World



Obama calls for 'middle class' bailout
by Joel Wendland
Oct. 3, 2008 – People's Weekly World



To bail, or not to bail?
by Teresa Albano and John Wojcik
Oct. 1, 2008 – People's Weekly World



OPINION: Finances and the current crisis: How did we get here and what is the way out? Part 2
by Sam Webb
Oct. 1, 2008 – People's Weekly World



Taking it to Wall Street: Rallies vs. bailout crowd 'the street'
By Libero Della Piana
Oct. 1, 2008 – People's Weekly World



Why the Rush
by Peter Zerner and Joel Wendland
Oct. 1, 2008 – PoliticalAffairs.net



Obama Calls for Comprehensive Response to the Economic Crisis
Oct. 1, 2008 – PoliticalAffairs.net



International Perspectives



Results of G-20 Meeting on the Global Economy
by Fidel Castro



Canada: Invest in Jobs and Improve Employment Insurance
by People's Voice



Vietnam Creates Measures to Tackle Financial Turmoil
by Vietnam News Agency



Another World Depression? Finance Capital and Neo-Deflationism
by Utsa Patnaik, People's Democracy



Australia's Bailout Black Hole
by Anna Pha, The Guardian



Japan: Government Plans to Force People to Pay for Financial Fallout
by Akahata



Israel and the Current Capitalist Crisis



Economy is key issue in Canada's elections



RECESSION



Trade Unions Demand Effective Responses to Worsening Financial and Food Crises



Financial Crisis in Europe: Alternatives Demanded



US Crisis Affects Central America



Bailing Out Capitalism
From The Guardian (Australia), Sept. 24, 2008



Bush's Self-criticism
From Cuban News Agency, Sept. 28, 2008



The End of the Illusion
From People's Democracy (India), Sept. 28, 2008



Time to Break with Casino Capitalism
From Akahata (Japan), Sept. 24, 2008



Sept. 2008



Financial Crisis, Bailouts, and the Real Economy, Speaking with Sam Webb
by PoliticalAffairs.net
Sept. 30, 2008 – PoliticalAffairs.net



How about a trickle-up bailout instead of trickle down
by Scott Marshall
Sept. 29, 2008 – Labor Up Front



Stock market drops 777 points as House votes down Wall Street bailout
by Joe Sims
Sept. 29, 2008 – People's Weekly World



Audio: Interview with Sam Webb, CPUSA
Sept. 28, 2008 – Political Affairs Podcast



OPINION: Finances and the current crisis: How did we get here and what is the way out?, Part 1
by Sam Webb
Sept. 28, 2008 – People's Weekly World



What the Banking Crisis Really Means
by Norman Markowitz
Sept. 2008, PoliticalAffairs.net



Editorial: Shock and Awe Revisited
Sept. 25, 2008 – People's Weekly World



$700,000,000,000 for what?
By John Wojcik Sept. 25, 2008 – People's Weekly World



Reject the 'Bankers' Strike': Groups Demand No Bailout Without Conditions
Sept. 25, 2008 – PoliticalAffairs.net



Rescue Me!: What Else Could We Use the Bailout Money For?'
By Peter Zerner and Joel Wendland
Sept. 25, 2008 – PoliticalAffairs.net



Barney Smith, Not Smith Barney
By Joelle Fishman
Sept. 24, 2008 – People's Weekly World



Save Main Street, Not Wall Street
By Communist Party USA
Sept. 23, 2008 – CPUSA.org



Ramming Through the Bailout
By Sam Webb
Sept. 23, 2008 – CPUSA.org



Wall Street Bailout: Not Without Preconditions
By Joel Wendland
Sept. 23, 2008 – PoliticalAffairs.net



EDITORIAL: Bailout Main Street
Sept. 19, 2008 – People's Weekly World



Economic Meltdown
By Joel Wendland
Sept. 19, 2008 – PoliticalAffairs.net



Wall Street meltdown wallops Main Street
By Phil Cadman
Sept. 19, 2008 – People's Weekly World







From Archives:



Is Freddie Mac really never coming back?
By John Wojcik
Sept. 8, 2008 — People's Weekly World



Got money?
By Marilyn Bechtel
Aug. 15, 2008 — People's Weekly World



Mac the Knife: Cut the Needy to Feed the Greedy
By Joelle Fishman
July 24, 2008 — PoliticalAffairs.net



Interview with Doug Henwood, Left Business Observer
May 29, 2008 — PoliticalAffairs.net



It’s

Time for a New Deal

by Norman Markowitz
May 29, 2008 — PoliticalAffairs.net



Financial Crisis and Class Struggle
By Paulo Nakatani and Rémy Herrera
May 28, 2008 — PoliticalAffairs.net



Foreclosures point to systemic crisis
By Denise Winebrenner Edwards
April 4, 2007 — People's Weekly World



Bailout goes to Wall Street, not Main Street
By John Wojcik
March 20, 2008 — People's Weekly World



Things Fall Apart: Wall Street and the Crisis of US Imperialism
By Joe Sims and Joel Wendland
March 2008 – PoliticalAffairs.net



Weathering

the Storm: the economic recession

Video interview with Sam Webb
March 10, 2008 — Communist Party USA



Unions tackle

housing, foreclosure crisis

By John Wojcik
March 9, 2008 — People's Weekly World



Interview

with Art Perlo, CP Economics Commission

Feb. 15, 2008 — PoliticalAffairs.net



To fix economy

put working class first

By Teresa Albano
Jan. 24, 2008 — People's Weekly World



Banks bilk

homebuyers, Black, Latino families hit hardest

By Tim Wheeler
Jan. 19, 2008 — People's Weekly World



A look behind

the housing crisis

By Art Perlo
Aug. 30, 2007 — People's Weekly World



Mortgage crisis

stoked by incredible greed

By Susan Webb
Aug. 16, 2007 — People's Weekly World



Corporate thievery, a new political moment
By Sam Webb
July 20, 2002 — People's Weekly World







En Español:



Salvemos al pueblo, no a Wall Street
por Partido Comunista de Estados Unidos de América (PCEUA).
Oct. 2, 2008 – Nuestro Mundo



¿Rescate económico o no rescatar?
por Teresa Albano y John Wojcik
Oct. 2, 2008, Nuestro Mundo



La crisis económica y las viviendas
Por Art Perlo
26 de Julio, 2008 — Nuestro Mundo



La crisis economica hoy: Entrevista con Douglas Henwood
29 de Mayo, 2008, – PoliticalAffairs.net