Recently the British government introduced a law banning
discrimination on the basis of age. On this basis some older workers will be
able to stay at work beyond the statutory 65. How will this affect the lives of
workers under capitalism?
Behind the term “private equity†hides good old “asset
stripping†or “corporate raiders with junk bondsâ€. It is not about making
profits from making things and selling them. It’s about making money from
money, buying up companies, stripping them and putting them back on the market
with a mountain of debt. Or to use a simpler term, it’s capitalism.
The
Blair government’s decision to press ahead with huge spending on updating Britain’s
nuclear arsenal highlight the growing contradiction between the needs of
ordinary working people and the people at the top. If ever these weapons were
used it would be the end of civilisation as we know it. More reason therefore
to struggle for genuine socialism.
All
the figures on the British economy reveal the underlying sickness of the whole
system. The indebtedness of the population has reached record levels. Now all
the signs are there of a coming serious slowdown. This is what Gordon Brown
will inherit as he prepares to become the next Labour Prime Minister.
The stench of sleaze emanating from Number 10 Downing Street marks the end of the Blair era. Brown is no alternative. Both men will lead the Labour Party to defeat in the future. What is needed is a genuine left alternative. That is why it is so important that John McDonnell gets the required number of nominations to be able to stand for the party leadership.