Economics
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.
Michael Roberts
April 14, 2021Biden Wants $715 billion for the Pentagon — Republicans and Democrats Alike Love Militarism
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.
Olivia Wood
April 13, 2021Biden’s Jobs Plan Is a Calculated Attempt to Restore U.S. Legitimacy
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.
James Dennis Hoff
April 13, 2021Financial 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.
Michael Roberts
April 13, 2021When a Hedge Fund Fails in Capitalism’s Casino, Workers Take a Hit
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.
Scott Cooper
March 31, 2021Federal 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.
Scott Cooper
March 26, 2021New Study: Ultra-Wealthy Are Paying Even Less Taxes than You Think
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.
Scott Cooper
March 22, 2021From India to Myanmar: Class Struggle Erupts in South and Southeast Asia
Class struggle is deepening throughout South and Southeast Asia, and it may get even stronger as pandemic-related restrictions are relaxed. This article reviews the most important conflicts of the past year.
Salvador Soler
March 17, 2021No, We Are Not Going to Beat Capitalism on the Stock Market
Has some new kind of activism beaten the hedge funds? Hardly.
Nathaniel Flakin
February 1, 2021The Capitalists and their Economists Are at War Over Stimulus
Bourgeois economists, like the politicians they serve, are fighting over the Biden stimulus plan. Helping those of us who might get checks is not the aim. It’s a battle over the best way to rescue capitalism from another crisis of its own making.
Scott Cooper
January 31, 2021