Opinion

As its most essential level, capitalism, as Marx pointed out, is based on a circuit. Capitalists use their capital to assemble raw materials, machinery and labour-power in workplaces, and through exploiting labour-power, generate goods and services.

They sell these goods and services to other capitalists or to workers, hopefully for a profit, expanding their capital. Then they buy more raw materials and machinery, and hire more labour-power, to begin the process anew.

If at any point, and for whatever reason, this circuit breaks down, a crisis will erupt.

It is almost 40 years since this excellent piece of Marxist history was first published. It is a wonderful example of how the Marxist method can be applied to a detailed study of a period of history: in this case ancient Greece and Rome.

In the first half of the book, Ste Croix explains the class structure in the ancient world of Greece and Rome, showing that class is the key concept for understanding it (and the medieval world), as well as modern capitalism.

The current leadership contest within the Labour Party has recently been focused on issues of how to relate to the transgender community.

The sharp end of this has been centred on the way that a minority of those who see themselves as on the left oppose transgender rights, by falsely counterposing trans rights to cis-women’s rights.

This is a false opposition and the candidates who are arguing for support of all women’s rights — both trans and cis, must have our support.

As the world’s billionaires were gathering in Davos for the 50th World Economic Forum, activists from across Europe were converging at the starting point of a three day march to oppose them.