Workers, left parties meet on global economic crisis

NEW DELHI -- There could not be an agenda more significant for the communist and workers parties' 11th international meeting than global capitalism's deep and ongoing economic crisis.

More than 25 parties from more than 20 nations are meeting to discuss and deliberate for three days starting Nov. 20 here in the capital of India. The Communist Party USA  presented a paper on the crisis and political fallout.

Because this crisis began in the most developed capitalist country and profoundly rattled the U.S. ecomomy more than that of any other country, interest in the American Communist perspective is high.

For Marxists and leftists of the world the financial crisis did not land suddenly. It was brewing for decades. It is a traditional crisis of overproduction of commodities like cars and other products, overlaid by new trends in the economy, including financialization, which has heightened speculation and bubbles that bear no relation to commodity production. It is a crisis of the depletion of purchasing power of working people, middle class and academics caused by the largest accumulation of capital in the smallest number of hands -- ever.

Along with the economic crisis, estimates of each country's political landscape will be discussed. In the United States, looking at the balance of forces since the 2008 elections and the main problems confronting the ability of the country's labor and people's movements to grow and unite and deepen their reach for a people's economic agenda was presented.

Scott Marshall, a vice chair of the CPUSA, is leading the American delegation and spoke in the opening session along with the other delegations from the Americas: Cuba, Brazil, Argentina and Mexico.