Marxists are often accused of having a class bias, of having an irrational
prejudice against the capitalist class. We must admit, that yes we don't
particularly appreciate the fact that while millions go hungry in the
underdeveloped countries a handful of super-rich billionaires actually decide on
the fate of the world.
The world’s stock markets are hitting their highs for the year.
Optimism rules in this sunniest and hottest of summers. The bulls (investors who
reckon stock prices are going to rise) are in the ascendancy and the bears
(those who forecast falling share prices) are in their caves. But is this
optimism justified? Profits are up in the oil and the banking sectors. In
industry as a whole profits are not up, as companies are finding it
difficult to up prices in the world market.
Instead of further integrating the world's economies, the World Trade
Organisation (WTO) summit in Cancun actually succeeded in
creating more polarisation and deeper divisions between its members. The viability of the
WTO, which since Seattle
(December 1999) has gone from failure to failure, is more than ever in doubt. Luis Enrique Barrios,
from the Mexican Marxist paper Militante
analyses the breakdown of talks and future prospects.