Last month, the U.S. National Security Advisor, Jake Sullivan, outlined the international economic policy of the U.S. administration. This was a pivotal speech, because Sullivan explained what is called the New Washington Consensus on U.S. foreign policy.

Bank stock prices have stabilized at the start of this week. And all the key officials at the Federal Reserve, the U.S. Treasury and the European Central Bank are reassuring investors that the crisis is over.

China’s Congress of the Communist Party takes place this week. 

The UK government’s economic policies under new PM Liz Truss have caused a stir among, not only leftists, but also among mainstream economists.

Life expectancy is one of the best measures of human development. 

So, is this the moment of collapse in the Chinese model of development and the end of all that talk about ‘moving towards socialism’ etc? Many Western experts think so.

In this third part of my series on the future of work, I want to deal with the impact of automation, in particular robots and artificial intelligence (AI) on jobs. I have covered this issue of the relationship between human labour and machines before, including robots and AI.  But is there anything new that we can find after the COVID slump?

In the first post of my Future of Work series, I looked at the impact of working from home and remote work which has mushroomed since the COVID pandemic.

Prices of commodities can be broken down into the three main components: labour costs (v= the value of labour power in Marxist terminology, non-labour inputs (c =the constant capital consumed, and the “mark-up” of profits over the first two components (s = surplus value appropriated by the capitalist owners). P = v + c + s.

The world has become more unequal in income and wealth in the last 40 years. That’s according to the World Inequality Report 2022.

So maybe not just one year of the pandemic.

Before the COVID-19 pandemic engulfed the world, the big pharmaceutical companies did little investment in vaccines for global diseases and viruses.

The death rate from these new infections may be lower than in the first wave last March-April, but hospitalizations are reaching new peaks in the U.S. and parts of Europe.

According to the IMF, about half of Low Income Economies (LIEs) are now in danger of debt default.  ‘Emerging market’ debt to GDP has increased from 40% to 60% in this crisis.

Global emissions fell by 8.8 per cent in the first half of this year amid restrictions on movement and economic activity owing to the coronavirus pandemic, according to a new report.

Sweden has a relatively low level of urbanisation, is away from continental Europe and has a population prepared to apply social distancing with some discipline, the cumulative COVID death rate in Sweden is not far short of Italy and Spain, and is way higher than its Nordic neighbours, Denmark, Finland and Norway, which did impose early and much stricter lockdowns.

Engels was just 24 years old when he wrote the Condition. He had already developed left-wing ideas when he was despatched to England at the end of 1842 to work in the family firm of Ermen and Engels, manufacturers of sewing thread in Manchester.