Archive for the ‘Limits of capitalism’ Category

“As capitalist, he is only capital personified. His soul is the soul of capital. But capital has one single life impulse, the tendency to create value and surplus-value, to make its constant factor, the means of production, absorb the greatest possible amount of surplus-labour. Capital is dead labour, that, vampire-like, only lives by sucking living labour, and lives the more, the more labour it sucks. The time during which the labourer works, is the time during which the capitalist consumes the labour-power he has purchased of him. If the labourer consumes his disposable time for himself, he robs the capitalist.”
-Marx, Capital Vol. 1, Ch. 10, Section 1, ‘ The Limits of the Working Day’.

For Canterbury Socialist Society’s March event we are returning to some of Marx’s foundational texts regarding political economy and its critique.

A comrade and Wellington-based supporter of the CSS will be presenting on Marx’s exposition of ‘The Working Day’. The lecture will examine the  (more…)


This year is Marx’s bicentennial.  He was born in 1818 (May 5).  And March 14, just three days ago, was the 135th anniversary of his death.

This year is also the 170th anniversary of the Communist Manifesto.

Below are some of the pieces we have run on Redline about Marx’s ideas, including pieces which showing their continuing relevance to understanding the world as it is and as it could be.

What is Marxism?

What is exploitation?

How capitalism works – and why it doesn’t

Two articles on Wages, prices & lies and capitalist crisis

4,000 words on Capital

Karl Korsch on “tremendous and enduring” impact of Marx’s Capital (1932)

Engels on Marx on the Working Day

Marx’s critique of classical political economy

Capital, the working class and Marx’s critique of political economy

Capital and the state

How capitalist ideology works

Pilling’s Marx’s Capital: philosophy, dialectics and political economy

How capitalism under-develops the world

The political economy of low-wage labour 

Whatever happened to the leisure society?

Pensions and the retirement age – the problem is capitalism, not an aging population

A nightmare in whiteware: the ‘teamwork’ system, exploitation and alienation

Value, price and the ‘transformation problem’ in Marx’s Capital

The transformation problem and Marx’s crisis theory

Productive and unproductive labour in capitalist society


Left, Cyril Ramaphosa; Right, Marikana Massacre

by Gearóid Ó Loingsigh

The election of Cyril Ramaphosa as president of South Africa has produced a plethora of articles hailing a new dawn for the nation.  The Irish Times published an article written by the South African psychologist and current John Hume and Thomas P. O’Neill chair in peace based at the International Conflict Research Institute, Ulster University, Professor Brandon Hamber.  The title of the article was the unimaginative A new dawn for South Africa, but a false start for Northern Ireland.(1)

But here I want to focus on South Africa.  He is after all from there and Ramaphosa was hailed in Ireland as a champion of peace and an important figure in the decommissioning process.  If his election as president of South Africa is a new dawn, then it will not be long before he is once again held up as an example to us all, which is what Hamber does, in effect.

He acknowledges problems in South Africa, but states that with Ramaphosa’s election, “A wave of new-found optimism has swept the country. In his state-of-the nation address on Friday, Ramaphosa spoke of a new dawn, turning the tide against corruption and tackling inequalities, while maintaining economic stability.”  He further states that “South Africans have a new belief in democracy and people power, and have learned first-hand the value of a free media and an independent judiciary. There is new hope in the constitution, the rule of law and the institutions developed to protect democracy.”  Were that true it would be a remarkable accomplishment in a matter of days.  The hypebole of people power is overwhelming and nauseating.

To be clear, the new president of South Africa is a mining magnate, a multimillionaire whose fortune is calculated, depending on the source as being between USD 450 and 700 million.  Yes he was once a lawyer and a leader of the National Union of Mineworkers.  But that is in the past.  How he became rich says more about the South Africa he will build than all the fine words that we expect at inaugurations or the sycophantic faith of academics who should (more…)

by Phil Duncan

Teachers and school service workers in the US state of West Virginia are currently setting an example for workers across North America – and here in New Zealand – with a massive ‘wildcat’ strike.  These public employees are defying the bosses (the local state government and governor), the law and the top bureaucrats in their own union.

The workers’ industrial action has been in pursuit of not just their 5% pay claim, but also around worsening living standards due to high insurance and other ‘out-of-pocket’ costs. Teachers in the state are among the lowest-paid educators in the country – West Virginia ranks 48th out of 50 states in terms of teacher pay.  The last time the state’s 20,000 teachers and 15,000 school service workers got a pay rise was four years ago.

They have also been facing rising insurance costs – like other public employees, they pay into the PEIA (Public Employees Insurance Agency) and the premiums have been rising as faster rates than pay has been increasing, thus depressing their actual take-home pay.

As one of the striking teachers reports, “Even with a master’s degree plus 45 credits and 15 years of teaching experience, I bring home an estimated (more…)

Capitalism Derails (AP Photo/Francois Mori)

Every week, the French revolutionary workers’ current Lutte Ouvriere produces workplace bulletins at hundreds of job sites all around the country.  Below is a slightly abridged version of the editorial from the latest round of bulletins, issued February 19.  LO’s site is here

The so-called Spinetta report recommends transforming SNCF (France’s state-run national railway) into a limited liability company, closing down “secondary” lines, opening up to competitors, doing away with the current working conditions of railroad employees and slashing five thousand jobs. In other words, this report is laying the groundwork for the accelerated privatization of SNCF and the destruction of railroad employees’ rights.

This is an outright declaration of war, to which the CGT (France’s major union confederation) replied by calling for a day of protest on March 22.

Railroad employees have every reason to fight back and so do all French workers. Given that the government is proudly boasting about the economic recovery and the return of prosperity, no worker should accept to see his working and living conditions get worse. No worker should accept to be treated as a chip in some casino game.

Many commentators and government officials get all worked up when (more…)

Rosa Luxemburg, rallying workers for struggle

by Don Franks

In a February 13th interview in The Listener, Public Service Association national secretary Erin Polaczuk makes a valid point: by going on strike, workers may get hurt.

“I remember some strikes. . . and dad losing his job. In the ’90s he was made redundant and survived on his redundancy pay. It terrifies me to think that some people don’t have that backup, so have no way of feeding their families if they lose their jobs. I don’t think we’ll ever go back to the way things were. Maybe we are in the mature era and the feminisation of the union movement has changed things. We are not guys coming in and having a punch up any more.”

In New Zealand industrial punch ups have sometimes got quite heated, but not to the extent of some overseas confrontations. For example: “During the night two delegates of the railwaymen were arrested. The strikers immediately demanded their release, and as this was not conceded, they decided not to allow trains leave the town. At the station all the strikers with their wives and families sat down on the railway track-a sea of human beings. They were threatened with rifle salvoes. The workers (more…)

This article was written three-and-a-half years ago, and we may have been a bit tardy in reblogging it here.  However, since the bitcoin phenomenon is still about and many people who have heard the term may not know what it is, how it works and how on earth some people have made a lot of money from it, we’re running the article at long last.

by Tony Norfield (June 2014)

I first paid little attention to Bitcoin, thinking that there are probably more Elvis Presley impersonators than there are people in the world who have traded or owned it. But seeing that central banks have issued policy statements on Bitcoin, that the FBI has ‘seized’ Bitcoin assets used by drug dealers and that tax authorities have given guidance on capital gains liabilities, while financiers are planning to offer exchange traded funds denominated in Bitcoin, I decided to take a second look. This article gives my assessment of this digital, alternative ‘currency’.*

Bitcoin emerged from the rubble of the (more…)