The Fed, Interest Rates, and Stagflation

Accelerating inflation may be an issue right now in the US 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.

Stopgaps Won’t Stop the Crisis — the Capitalists Must Pay

On Thursday, September 30, Joe Biden postponed the government shutdown. A week later, the debt ceiling was raised by $480 billion. Capitalist crisis is ultimately inevitable unless we fight back with working-class methods.

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.

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.

Bidenomics: A Nod to Progressives in Order to Reinforce Imperialism

Joe Biden's administration has seen a "paradigm shift" in economic policy — but it has an Achilles heel. A debate with Susan Watkins.

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.