Joe Biden’s administration has seen a “paradigm shift” in economic policy — but it has an Achilles heel. A debate with Susan Watkins.
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.
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.
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.
President Biden has proposed $715 billion for the Department of Defense in 2022, maintaining its funding at Trump-era levels. The U.S. capitalist economy cannot survive without a huge engine for death, and no amount of progressive legislative pressure can change that.
Biden’s latest spending proposal marks a sharp shift away from the politics of austerity and reveals the depths of the interlocking crises faced by the United States.
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.
The collapse of a little-known hedge fund is a reminder that even if workers don’t spend their own time or money directly gambling in the capitalist casino known as the “markets,” the money the wealthy use to play pretty much all comes from us.
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.
Donald Trump paid $750 in taxes for an entire year. But he is no exception. Not only does capitalism’s laws provide the super-rich with all sorts of ways to avoid paying taxes, they also are rarely audited.
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