The ongoing decline in global economic growth … means that the militarist drive will intensify in the coming period, creating the conditions for the eruption of another world war.
Nick Beams, World Socialist Web Site
Submitted by Evergreene Digest Contributing Editor John Stoltenberg
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10 October 2014 | The deepening crisis of the global capitalist system, as evidenced in reports issued by the International Monetary Fund (IMF) and the World Bank this week that saw no prospect for increased economic growth, is the driving force of increased tensions among the major capitalist powers and the rise of militarism.
One of the most significant economic manifestations of the capitalist breakdown is the continued lack of investment in the real economy, highlighted in both the IMF and World Bank reports, and the increasing dependence of the world economy on credit bubbles, which is creating the conditions for another financial crisis.
Party Secretary Nick Beams is a member of the International Editorial Board of the World Socialist Web Site (WSWS), the online news and information center of the ICFI
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