We derive the effective low-energy theory for single-wall carbon nanotubes including the Coulomb interactions among electrons. The generic model found here consists of two spin-1 2 fermion chains which are coupled by the interaction. We analyze the theory using bosonization, renormalization-group techniques, and Majorana refermionization. Several experimentally relevant consequences of the breakdown of Fermi liquid theory observed here are discussed in detail, e.g., magnetic instabilities, anomalous conductance laws, and impurity screening profiles.