Challenges for capitalism and the labour movement in the 21st century

By Michael Roberts

All the contradictions between the needs of 8 bn people and the profits of capital are intensifying in the 21st century. Global warming is reaching a tipping point that will leave irreversible damage to humanity and nature;  inequality between rich and poor nations and within nations is widening; the burden of debt for the poorest countries owed to the richest is reaching proportions that threaten financial meltdown and social conflict; global economic growth has slowed to a trickle, while the recent inflationary spiral has eaten into the living standards of hundreds of millions; and geopolitical conflict has worsened with another never-ending war after Iraq and Afghanistan, now in Ukraine; and serious tensions are rising between China and the US over Taiwan.

Capitalism is failing on the climate, on poverty, on economic growth and living standards; and on peace.  What is to be done?  How can working people internationally turn things around and end this polycrisis?