In the United States, delinquent credit lines as a share of both total consumer, auto loan, and credit card debt steadily grew over the last two and half years. Over the same period, residential-mortgage delinquencies rapidly declined, essentially returning to their pre-2007 levels. These divergent trends point to the relative financial security of upper-income and the increasing fragility of lower-income households prior to the pandemic. How are working families in America getting by in the midst of a capitalist crisis unlike any other?
The new Chinese land reform and the attendant countermovement have given rise to a new round of rural struggles over land and livelihood security. These constitute an integral part of the movement of the Chinese working class, of which the 290 million rural workers are a major force.
Our current COVID moment has fuelled hopes for the embrace of progressive economic policies, basic income included. But Finland’s experiment suggests that not all applications of BI are necessarily progressive. Indeed, it is important to register that policy experiments precisely operate as a means for the state to open out new frontiers. In this instance an experimental policy opened out new routes to promote the restructuring of labour supply.
There is probably no better example of why “it is much easier to imagine the end of the world than the end of capitalism” than governments’ responses to the ongoing Covid-19 pandemic. The problem is not so much that the structural and ideological hegemony of capital accumulation prevents us from [...]
How we navigate this moment of intense uncertainty and collective anxiety will shape the future. Thinking about the many ways that our precarity manifests will be crucial to avoid re-inscribing the inequalities and injustices of the pre-coronavirus world.