The GND has the potential of becoming one of the largest global campaigns of our times, and it started in Ann Pettifor’s flat. In 2008, the first Green New Deal was devised by Pettifor and a group of English economist and thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total de-carbonisation and a commitment to fairness and social justice. Critics on all sides have been quick to observe that the GND is a pipe dream that could never be implemented, and would cost the earth. But, as Ann Pettifor shows, we need to rethink the function of money, and how it works within the global system.

  How can we bail out the banks but not the planet? We have to stop thinking about the imperative … More

Book launch tomorrow of ‘Stolen’ with Grace Blakeley at St Mary in the Castle. 6pm. “Stolen tells the story of how and why this financialization occurred, what it means for our society and politics, and what the left can do to fight it. At present, the odds are stacked against labour and in favour of finance capital. But what follows it will be determined by which group — the many or the few — manages to take power in this moment of crisis. How we understand this moment, and what we do with it, will determine the course of the future.”

Available in store and online.

The first meeting of the Das Kapital Reading Group will take place at 6pm, Monday, 30th September at the shop. The first session we’ll be discussing chapter one, which if you have the Wordsworth edition of Vol’s 1 & 2 is up to page 55. The Wordsworth edition is available from the shop for £3.50 for all attendees.

One of the most notorious works of modern times, as well as one of the most influential, “Capital” is an … More

In August 1765 the East India Company defeated and captured the young Mughal emperor and forced him to set up in his richest provinces a new government run by English traders who collected taxes through means of a vast and ruthless private army. The creation of this new government marked the moment that the East India Company ceased to be a conventional international trading corporation, dealing in silks and spices, and became something much more unusual: an aggressive colonial power in the guise of a multinational business. In less than half a century it had trained up a private security force of around 260,000 men – twice the size of the British army – and had subdued an entire subcontinent, conquering first Bengal and finally, in 1803, the Mughal capital of Delhi itself.

The Company’s reach stretched relentlessly until almost all of India south of the Himalayas was effectively ruled from a boardroom … More

Coming soon. The Green New Deal has the potential of becoming one of the largest global campaigns of our times, and it started in Ann Pettifor’s flat. In 2008, the first GND was devised by Pettifor and a group of English economist & thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. Ann is also adviser to the Labour Party’s Economic Advisory Committee.

The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total … More

In the wake of the 2008 financial crisis, central banks created trillions of dollars of new money, and poured it into financial markets. ‘Quantitative Easing’ (QE) was supposed to prevent deflation and restore economic growth. But the money didn’t go to ordinary people: it went to the rich, who didn’t need it. It went to big corporations and banks – the same banks whose reckless lending caused the crash. This led to a decade of stagnation, not recovery. QE failed.

In this book, Frances Coppola makes the case for a ‘people’s QE’, in which the money goes directly to ordinary … More

Book launch of ‘Plunder of the Commons’ with Guy Standing at The Printworks. Thursday 12th September. £2 OTD. We are losing the commons. Austerity and neoliberal policies have depleted our shared wealth; our national utilities have been sold off to foreign conglomerates, social housing is almost non-existent, our parks are cordoned off for private events and our national art galleries are sponsored by banks and oil companies. This plunder deprives us all of our common rights, recognized as far back as the Magna Carta and the Charter of the Forest of 1217, to share fairly and equitably in our public wealth.

Guy Standing leads us through a new appraisal of the commons, stemming from the medieval concept of common land reserved … More

An argument that under capitalism, debt has become infinite & unpayable, expressing a political relation of subjection & enslavement. Experts, pundits, & politicians agree: public debt is hindering growth & increasing unemployment. Governments must reduce debt at all cost if they want to restore confidence & get back on a path to prosperity. Lazzarato’s diagnosis, however, is completely different: under capitalism, debt is not primarily a question of budget & economic concerns but a political relation of subjection & enslavement. Debt has become infinite & unpayable. It disciplines populations, calls for structural reforms, justifies authoritarian crackdowns, & even legitimizes the suspension of democracy in favor of “technocratic governments” beholden to the interests of capital.

The 2008 economic crisis only accelerated the establishment of a “new State capitalism,” which has carried out a massive confiscation … More

Born OTD in 1942, American Marxian economist, known for his work on economic methodology, & class analysis, Richard D. Wolff. Contemporary capitalism no longer “delivers the goods” (which is understood as a rising standard of real wages) to the majority of people. That classic defense of its instability (e.g. recurrent bouts of unemployment), its deepening economic, political, & cultural inequalities, & its attendant injustices is no lon­ger plausible. In the U.S. since the 1970s, & especially since 2007, those who control the dominant capitalist enterprises have made decisions that undermined the delivery of rising standards of living to the mass of people.

Who made the key decisions and why? The ‘who’ is straightforward: large corporations’ major shareholders (shareholding is highly concentrated in … More

In looking at the forces that brought our current administration to power one thing is clear: much of the population believes that our economic system is rigged to enrich the privileged elites at the expense of hard-working Americans. This is a belief held equally on both sides of political spectrum, & it seems only to be gaining momentum. A key reason, says Financial Times columnist Rana Foroohar, is the fact that Wall Street is no longer supporting Main Street businesses that create the jobs for the middle and working class.

She draws on in-depth reporting and interviews at the highest rungs of business and government to show how the “financialization … More