Tag: Economics

China’s Evergrande: A Serious Crisis, But Hardly an Asian Lehman Brothers

The Evergrande Group, a giant Chinese real estate developer, is on the brink of default. For the Chinese bureaucracy, the crisis is not only an “opportunity to regulate the sector,” as some would have us believe. But it is too early to declare this a Chinese version of the 2008 Lehman Brothers collapse, since the Chinese government will not likely wait for things to reach that level.

The Fall of Lehman Brothers and the Rise of Class Struggle

Thirteen years after the fall of Lehman Brothers, one of the most important lessons for the working class and oppressed peoples everywhere is the need to build revolutionary parties as part of the struggle for an international for socialist revolution.

Competition, Monopoly, and Exploitation under Capitalism

While signing an executive order to expand competition and crack down on monopolistic practices, Joe Biden said that “capitalism without competition isn’t capitalism. It’s exploitation.” His statement reflects a long-standing assumption among both classical and more left-leaning economists alike that increasing monopolization is the source of increasing exploitation under capitalism. What do they get wrong? Economist Michael Roberts explains.

An illustration of a line from a chart that goes up at the end, an illustrated hand is drawing it.

Inflation, Interest Rates, and Debt

Accelerating inflation may be an issue right now in the U.S. and other recovering capitalist economies. But for capitalism, profitability is the real benchmark and that can be hit by wage rises on the one hand and interest rises on the other.

The Productivity Crisis

In his latest piece, Michael Roberts takes a look at the crisis in productivity and the failures of Keynesian economics over nearly a hundred years.

As Biden Moves Away from Neoliberalism, What Next?

Biden’s first speech before Congress as President was a whirlwind of populist promises to raise living conditions for the worst off sectors of U.S. society and defend American interests abroad. The plans and priorities he presented show that the Biden administration and its allies are betting on a departure from traditional neoliberal approaches to ensure that the United States can claw its way out of its current political, economic, and social crises and rebuild itself in its own image as the undisputed imperialist powerhouse of the world. 

Financial Fictions: SPACs, NFTs, and Cryptocurrencies

In recent years, there has been a spate of new fictions in the casino world of financial speculation. Marxist economist Michael Roberts discusses these technological developments and how when the financial markets go belly up, the digital damage will be exposed.

China’s Evergrande: A Serious Crisis, But Hardly an Asian Lehman Brothers

The Evergrande Group, a giant Chinese real estate developer, is on the brink of default. For the Chinese bureaucracy, the crisis is not only an “opportunity to regulate the sector,” as some would have us believe. But it is too early to declare this a Chinese version of the 2008 Lehman Brothers collapse, since the Chinese government will not likely wait for things to reach that level.

The Fall of Lehman Brothers and the Rise of Class Struggle

Thirteen years after the fall of Lehman Brothers, one of the most important lessons for the working class and oppressed peoples everywhere is the need to build revolutionary parties as part of the struggle for an international for socialist revolution.

Competition, Monopoly, and Exploitation under Capitalism

While signing an executive order to expand competition and crack down on monopolistic practices, Joe Biden said that “capitalism without competition isn’t capitalism. It’s exploitation.” His statement reflects a long-standing assumption among both classical and more left-leaning economists alike that increasing monopolization is the source of increasing exploitation under capitalism. What do they get wrong? Economist Michael Roberts explains.

An illustration of a line from a chart that goes up at the end, an illustrated hand is drawing it.

Inflation, Interest Rates, and Debt

Accelerating inflation may be an issue right now in the U.S. and other recovering capitalist economies. But for capitalism, profitability is the real benchmark and that can be hit by wage rises on the one hand and interest rises on the other.

The Productivity Crisis

In his latest piece, Michael Roberts takes a look at the crisis in productivity and the failures of Keynesian economics over nearly a hundred years.

As Biden Moves Away from Neoliberalism, What Next?

Biden’s first speech before Congress as President was a whirlwind of populist promises to raise living conditions for the worst off sectors of U.S. society and defend American interests abroad. The plans and priorities he presented show that the Biden administration and its allies are betting on a departure from traditional neoliberal approaches to ensure that the United States can claw its way out of its current political, economic, and social crises and rebuild itself in its own image as the undisputed imperialist powerhouse of the world. 

Financial Fictions: SPACs, NFTs, and Cryptocurrencies

In recent years, there has been a spate of new fictions in the casino world of financial speculation. Marxist economist Michael Roberts discusses these technological developments and how when the financial markets go belly up, the digital damage will be exposed.