By Editor

Most of the industrial world is now in the seventh year of the Great Recession that began in 2008. Why is this? Where is the world economy headed?

Most bourgeois and Marxist economists wrote back in 2009 and 2010 that the downturn would be just another average business cycle recession. Why have we yet to fully recover?

Gene Warren Jr. presented an unconventional Marxian analysis of the above questions starting with an explanation of how the economic and monetary system (M-C-M’) actually works, then a brief history of what unfolded since the Second World War until now, ending with a look at the results of austerity, the main strategy of the capitalist class for the last five years. Has it been rational overall for the entire system?

Gene Warren Jr. came of age in the 1950s as a ‘rebel without a cause’. It wasn’t until the mid 1960s, already married, with two children, that he focused his rebellion in the civil rights/black liberation and anti Viet Nam war movements. By 1969 he self identified as a revolutionary Marxist and after membership in a number of revolutionary organizations was a founding member of Solidarity. His ecosocialist roots began in the early 1970s and has identified as such since the late 1990s. In 2006 he was one of the originators/organizers of the class series Converging Storms, The Crisis of Energy, Capitalism and the Environment.

Source: “Capitalism & Austerity” Freedom School – Gene Warren