All the fundamental problems of the 21st century—inequality, war, global warming, economic crisis, dictatorship and the return of fascism—flow from the subordination of the global economy to the private enrichment of the ruling elites.

In January 2020, the richest 2,153 people on the planet had more wealth than the bottom 4.6 billion people. The COVID-19 pandemic has accelerated trends of economic crisis, financial parasitism, inequality, and inter-imperialist rivalry that threaten humanity's future.

Captialism has become a barrier to the further development of humanity. As Karl Marx explained 150 years ago, with the growth of poverty and inequality, so too “grows the revolt of the working class, a class always increasing in numbers, and disciplined, united, organized by the very mechanism of the process of capitalist production itself.”

The WSWS seeks to unify the international working class to take power. The major international corporations and banks must be taken out of the hands of the ruling class and placed under democratic ownership to serve the interests of the broad mass of the global population.

A family scavenges for food weeks into COVID-19 in Asuncion, Paraguay, April 2, 2020. Credit: AP Photo/Jorge Saenz
Featured Analysis
Social Crisis: The Conditions Facing the Working Class

As hundreds of thousands of people died from COVID-19, global stock markets soared as the US Federal Reserve and other central banks pumped unprecedented quantities of digitally printed money into bond markets.

Read: Wall street feasts on death

Over the last forty years a global assault on the wages and living standards of the working class occurred throughout the world. Today, in the United States, an average teacher makes nothing compared to corporate CEOs. This data does not include stock portfolios which has become a primary source of wealth for the top percentiles of the population.

Read: Corporate CEO pay tops $1 million per month

Despite unprecedented technological advancements and a mass surplus of food, tens of millions of people around the globe experience chronic hunger. The economic and political devastation of large sections of the developing world by US imperialism and its allies has created conditions of extreme want and desperation. According to the UN, 2019 saw the highest number of global refugees in world history, 79.5 million people, as people fled from wars and poverty.

Read: pandemic will cause 'famines of biblical proportions'
Latest articles