Tag: Economy

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.

An illustration of a line from a chart that goes up at the end, an illustrated hand is drawing it.

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.

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.

New Unemployment Numbers Reveal the Truth about Economic Recovery

Skeptical about capitalist claims that we will soon be “flush with cash” and out boosting the economy? The latest weekly increase in claims for unemployment benefits shows the real truth about the system of exploitation the working class confronts every day.

A blue and red stock price graph. An image of a coronavirus is superimposed on top.

Covid and Fictitious Capital

In 2020, output, investment, and employment plummeted across the world, but the opposite was true for the stock and bond markets of the major economies. Marxist economist Michael Roberts explains this trend, which will likely reverse in 2021.

What’s in Store for the Economy under Biden?

As Biden begins the first day of his presidency, the United States still faces near record levels of COVID cases and deaths. At the same time, economic activity remains well below pre-pandemic levels.

New Stimulus Bill Is No Win for the Working Class

Bipartisan consensus seems to be forming around a new stimulus bill. Unsurprisingly, this new package gives a weak and insufficient amount of aid to the working class. We must organize to fight for more.

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.

An illustration of a line from a chart that goes up at the end, an illustrated hand is drawing it.

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.

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.

New Unemployment Numbers Reveal the Truth about Economic Recovery

Skeptical about capitalist claims that we will soon be “flush with cash” and out boosting the economy? The latest weekly increase in claims for unemployment benefits shows the real truth about the system of exploitation the working class confronts every day.

A blue and red stock price graph. An image of a coronavirus is superimposed on top.

Covid and Fictitious Capital

In 2020, output, investment, and employment plummeted across the world, but the opposite was true for the stock and bond markets of the major economies. Marxist economist Michael Roberts explains this trend, which will likely reverse in 2021.

What’s in Store for the Economy under Biden?

As Biden begins the first day of his presidency, the United States still faces near record levels of COVID cases and deaths. At the same time, economic activity remains well below pre-pandemic levels.

New Stimulus Bill Is No Win for the Working Class

Bipartisan consensus seems to be forming around a new stimulus bill. Unsurprisingly, this new package gives a weak and insufficient amount of aid to the working class. We must organize to fight for more.