The Internationalism

Internationalism No. 33, November 2021 Page 6 Can a good recovery do damage? The answer is: yes, sometimes it can, if it triggers major imbalances. The capitalist mode of production is a source of imbalances, inequalities and asymmetries. This time, the imbalance is largely due to the states which have concocted an unexpectedly strong recovery, pulled along by private consumption, with their stimuli, subsidies, relief, tax cuts and zero-rate credits. According to The Economist , the stimuli handed out by governments during the pandemic amounted to about $10,400 billion in the world, equal to one eighth of the 2020 gross world product in current dollars. According to the April IMF Fiscal Monitor , governments, additional expenditure and lost revenue in the advanced economies were equal to 16% of the sum of their GDPs, in the face of losses which, in the final balance sheets, amounted to 4.5% of it. A good part of this went on governmen...

Every moment of transition presents its own complexities: for our class this means that further divisions are sown within it. Such is the present moment — one when different dynamics stack up and intertwine. Past, present and future On the one hand, there is the troubled exit from the pandemic crisis, still under the threat posed by the emergence of new Covid-19 variants. The pause on redundancies has come to an end in Italy. This, albeit partially, would have spared about 520,000 jobs in Italy up until now, according to Centro Einaudi’s estimates [ 25 th Annual Report on Global Economy and Italy , June 2021]. Company closures and staff reductions (in a mixture of arrogance and callousness) have marked the summer months, only to announce a difficult autumn, when the redundancy ban will be lifted also for small businesses and services. However, it is clear how uncertain the workers’ condition remains, regardless of any collective agreement signed, and how necessary it is always to ...

From the series European News Climate policy is now openly the object of the imperialist contention. The EU, driven by the German acceleration, has set itself targets that impose a fast pace on continental industry: climate neutrality by 2050 and, as an intermediate step, a 55% reduction in emissions by 2030 compared to 1990 levels. In July, the Commission presented the Fit for 55 package, which details in legislative proposals the objectives of the Green Deal formulated in 2019. A decisive decade The EU plan is initiating a major fight between the powers, the political forces and the large groups. It has set a thirty-year agenda, but the next decade will be crucial, said the Commission President Ursula von der Leyen. The reform will require a qualified majority in the Council and in the EU Parliament, a process that will probably take two years. The Financial Times reports that France, Italy, Spain, Hungary, Latvia, Ireland and Bulgaria have already raised concerns about the...