The global elites gathered in Davos last week, to discuss the fate and future of capitalism. With the world economy wracked by inflation and instability, a mood of pessimism prevailed. We need a revolution to put them out of their misery.

To mark the anniversary of the death of the great revolutionary, Vladimir Lenin, we are republishing this article, which was originally written to commemorate the Lenin centenary in 1970. The early symptoms of bureaucratic degeneration in Russia were already noted by Lenin in the last two years of his politically active life. He spent his last months fighting against these reactionary tendencies, leaving behind a vital heritage of struggle in his last letters and articles. The struggle of the anti-Stalinist Left Opposition, led by Trotsky after Lenin's death, really begins here.