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Economics

Biden 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, 2021

Biden’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, 2021

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.

Michael Roberts

April 13, 2021

When 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, 2021

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. 

Scott Cooper

March 26, 2021

New 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, 2021

From 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, 2021

No, 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, 2021

The 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