The Boom in the History of Capitalism

To mark 10,000 streams, this week’s special episode of International Marxist Radio (IMR) features a gem from the archives: a rare recording of a 1974 speech by Ted Grant – celebrated Marxist theoretician and founder of what was to become the International Marxist Tendency.



This fascinating speech on the world political situation came at a key juncture in history, when the decades of postwar capitalist upswing were drawing to a close – marking the beginning of a new world crisis, and revolutionary developments in one country after another.



Included amongst these developments were revolutionary movements in Europe, such as the Portuguese revolution of 1974 – which, as Ted points out, had the potential to spark an all-Iberian, all-European and possibly even world revolution, given the right leadership.



Although not every detail of this speech was borne out by events, the general thrust is remarkably prescient, offering comrades a valuable example of the Marxist method in practice, which, as Trotsky once said, provides us with "the advantage of foresight over astonishment".