The present world crisis of capitalism means we have entered a new period in which the workers will face a situation of permanent austerity, with cuts in welfare and attacks on working conditions. This is already having a radicalising affect on millions of workers and youth, particularly in Latin America and other underdeveloped parts of the world and it is spreading to the advanced countries also.

At this year’s World School of the International Marxist Tendency held at the end of July, Alan Woods delivered a speech on the nature of the present crisis of capitalism, in which he deals with the relationship between the economic cycle and the class struggle, and also looks into what kind of recovery we can expect, considering the enormous contradictions that have accumulated within the system.

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