Economics

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.

Financial Fictions: The Old Ones

In recent months, we have seen financial meltdowns from Archegos Capital and Greensill Capital. Marxist economist Michael Roberts dives into the fictitious capital behind these events.

Federal Reserve Gearing Up for Banks to Share Their Wealth … with the Rich

An announcement yesterday is warming the hearts of bankers and other capitalists across the United States. They’ve been waiting impatiently for the end of pandemic-related restrictions that have kept them from some of their favorite ways of further enriching themselves and their wealthiest friends.