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Why has capitalism failed?

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Apologists for capitalism argue that it is the best, most-efficient system that could ever possibly exist. But the current period of crisis and chaos prove otherwise. Today, the COVID-19 pandemic has triggered an economic collapse that threatens to throw society back to the 1930s, sending the world into a full-blown depression. Clearly, something is rotten at the heart of the system. The advocates of Keynesian ideas - or modern varieties like Modern Monetary Theory - cannot provide a real solution to this crisis. In his talk from this year's International Marxist University, Adam Booth, a leading activist of Socialist Appeal, explains why capitalism has failed, and what the way forward is for humanity.

Venezuela: the APR protests against censorship at VTV 

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On the morning of Thursday, 19 November, organisations that make up the People’s Revolutionary Alternative (APR) protested in repudiation of the media censorship of this left-wing coalition, carried out by public and private media during the electoral campaigns for the parliamentary elections on 6 December. This demonstration took place in front of the Venezuelan Television Corporation (VTV), and was attended by numerous candidates and leading figures of the alliance.

'Peace' in Nagorno-Karabakh: No stability under capitalism

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As has become customary, the recent war in Karabakh is viewed from two sides in Russia: liberals extol the virtues of Turkish generals trained by NATO and Israeli drones, while both secret and obvious Putin admirers tell us on Liva (russo-ukrainian media) that revolutionaries (in quotes or without) always lose wars. There is not a grain of truth in this dichotomy. The militia armies created by the bourgeois revolutions have had great victories. Not only in the 19th century. Actually, the history of the Nagorno-Karabakh Republic began with the victory of the Armenian militia in the war three decades ago. Then, Azerbaijan was richer, had a more numerous and well-armed army, but if Azerbaijan had local successes in that war, then they are associated not with former president Mutalibov, the director of a local refrigerator plant, or the KGB general Aliyev, but with a short period of rule by a half-crazy dissident-pan-Turkist, Elchibey. Unlike the draftees, students and workers who were arrested on the streets of Baku, his supporters at least understood why they were fighting. It was this factor that ensured the victory of Armenia in that war; high fighting morale and conscientious discipline of the militia army, formed against the background of a high level of education and general culture. The war in Karabakh, and the hardships and casualties associated with it, became the foundation of modern Armenia.

What does the monetary reorganisation in Cuba mean?

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On 12 October, the Cuban Vice Prime Minister and Minister of Economy and Planning, Alejandro Gil Fernández appeared on the television programme Mesa Redonda [Round Table] to talk about the economic strategy “to boost the economy and overcome the global crisis caused by COVID-19." A central part of it is the "monetary reorganisation" that has generated so many rumours and uncertainty in Cuba in recent months.

Uganda: attacks on Bobi Wine show paranoia of Museveni’s regime

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On Wednesday 18 November, Ugandan opposition politician Bobi Wine was violently arrested once again in the Luuka district. Various reports speak of violence towards him. One vehicle branded with incumbent President Museveni's campaign brutally ploughed into a group of bystanders in Kampala that same afternoon, leaving several people dead – although the number of casualties is still unknown. It is reported that the car was being stoned shortly before the attack. Another presidential candidate, Patrick Amuriat has also been arrested. Other candidates are pausing campaigning until Wine is released.

Will there be a boom?

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The capitalists are eagre for the COVID-19 crisis to come to an end, and many anticipate a rapid economic bounceback. But the new normal will be one of crisis, chaos and class struggle.

New president elected as regime crisis shakes Peru

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Yesterday, the Peruvian congress elected a new leadership headed by Francisco Sagasti, who will be sworn in as the new country’s president today. The election of Sagasti (Partido Morado) at the head of a list composed exclusively of congressmen who did not vote for the impeachment of president Vizcarra on 11 November is a desperate attempt to maintain the continuity of the institutions of discredited bourgeois democracy and to rebuild their legitimacy.

Political crisis and class struggle in Peru

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Events are moving very fast in Peru. On 9 November, the president Martin Vizcarra was removed from office; a week later the new Merino government has fallen under the pressure of the mass movement unleashed in recent days. The crisis in the bourgeois state has opened the floodgates of the class struggle in the streets and the working class and the youth have defeated the regime in this first battle.

Brazil on the eve of the 2020 elections

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The upcoming municipal elections in Brazil are being seen as a litmus test of Bolsonaro's electoral support following two years of chaos, demagogy, attacks on the working class, and now the disaster of the COVID-19 pandemic. There is clearly a desire for radical change in Brazil, despite the shameful policies of class collaboration by leaders of the left.

Pakistan: protests continue for release of Amar Fayaz across the country

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Comrade Amar Fayaz was abducted on 8 November by state authorities of Pakistan from Jamshoro and his whereabouts are still unknown. This has become a common practice in Pakistan in which political workers, journalists and other citizens who raise their voices against the government or its policies are abducted with the help of police and security services, and are kept in inhuman conditions and severely tortured.

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