economy

Few would have predicted, until recent times, that the biggest act at the Glastonbury music festival would be a 68-year-old socialist reciting a 200-year-old poem.

Yet Labour leader Jeremy Corbyn’s June 24 speech at Glastonbury attracted what was likely the largest crowd in the festival’s history, NME said.

Power and gas prices are set to rise by a huge 16–19% on July 1, bringing a profit bonanza to the big three electricity companies — AGL, Origin and Energy Australia.

This unpopular price hike comes in the context of record low wage growth, record high housing prices and record levels of household debt.

The federal government is covering for the price hikes by blaming state governments for ruling out unconventional gas (Victoria), or moving too fast to renewables and not planning ahead (South Australia).

Many environmentalists were disappointed, if not outraged, at Chief Scientist Alan Finkel’s Independent Review into the Future Security of the National Electricity Market, released on June 9, which sought to stabilise the existing electricity market.

At the same time, the failure of the privatised and deregulated electricity grid led NSW Greens MP Jeremy Buckingham to call for its nationalisation as the only way to solve its intractable problems.

Zimbabwe is facing elections next year, with the ruling Zimbabwe African National Union - Popular Front (ZANU-PF) government likely to be returned despite its huge unpopularity.

The 93-year-old Robert Mugabe, Zimbabwe’s first and only president, plans to seek re-election for another five years. But there is a bitter scramble within his party to find his successor. The scramble is purely for power — policy is irrelevant to the struggle.

Below are five new books for the “ecosocialist bookshelf” on climate change and human health, ecology and imperialism, environmental economics, capitalism and universities, and the meaning of hegemony.

They have been compiled by Ian Angus, the editor of Climate and Capitalism, where this first appeared. Angus is the author of A Redder Shade of Green, which has just been published by Monthly Review Press.

"This is a fundamental precept of paramilitarism: clear the land to ensure smooth functioning for big business deals and, in this sense, this is no different to what has happened in the past few years in this country, which is the consolidation of what I would call a militarised neoliberal model, militarised in both a state and para-state sense."

An interview with Renan Vega Cantor, a professor at Colombia’s National Pedagogical University.

Recent weeks have brought to the fore two main issues concerning US President Donald Trump.

The first was his doubling down on one central theme of his election campaign — economic nationalism. This was found in his charge that most of the rest of the world is somehow “exploiting” the United States — and he will fight back.

The second is his drive to establish himself as an authoritarian president, the “strongman” who can take on the dysfunction in the two capitalist parties that dominate US politics.

An important debate has opened up among the left, both within Venezuela and internationally, as a result of the recent turmoil in the country.

In an attempt to bring the views of grassroots Venezuelan militants to an English-speaking audience, Green Left Weekly’s Federico Fuentes interviewed Stalin Perez Borges.

A life-long union and socialist activist, Perez Borges is today a member of the United League of Chavista Socialists (LUCHAS), a radical current within the United Socialist Party of Venezuela (PSUV).

At the recent G7 summit, held May 26-27 in Taormina, Italy, US President Donald Trump said the US was going to leave the Paris Agreement on climate change, a move that may have a devastating effect for the whole planet.

In response to Trump’s declarations, German Chancellor Angela Merkel labelled Trump and British Prime Minister Theresa May as unreliable partners, saying “we must fight for our own future on our own, for our destiny as Europeans”.

The Fair Go For Pensioners coalition organised a rally on May 24 in response to the federal budget’s significant new restrictions for those on Centrelink payments, including older Australians.

Their main concerns are with the change to the pensioner assets test, attacks on Medicare, the threat to the Pharmaceutical Benefits Scheme, and a reduction on the right to overseas travel. The rally also addressed issues faced by the unemployed on Newstart, those on disability support and single parents.

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