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Economy

Renowned Democratic Economist Spews That Helping People Will Hurt the Economy

Larry Summers, a longtime servant of capitalism, one of its most prominent economists, and a Biden transition adviser, delivered a Christmas message against giving even a penny in “stimulus” to working-class and poor people who are sinking into despair in the pandemic economy.

Scott Cooper

December 26, 2020

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.

Ezra Brain

December 17, 2020

Perspectives for 2021: Interview with Michael Roberts and Claudia Cinatti

The year of the coronavirus pandemic is drawing to a close. What are the trends in the economy, the political situation, and the class struggle in the year to come?

Claudia Cinatti

December 15, 2020

A Credit Crash Ahead?

With the promise of a vaccine on the horizon, many sectors of capital are hoping that the world economy will spring back soon. But with the economic crisis sending many working people and businesses into significant debt in order to survive, the prospects for such a strong recovery are rapidly narrowing. Originally posted on his blog, “The Next Recession,” Michael Roberts here outlines the possible scenarios for a third leg of the pandemic slump.

Michael Roberts

December 4, 2020

“Nothing Will Fundamentally Change”: The Case of Janet Yellen

Janet Yellen has been nominated as Secretary of the Treasury. Like Biden’s other recycled Obama-era picks, Yellen signals continuity with the capitalist system which puts business interests over the needs of the working class.

Otto Fors

December 3, 2020

Billionaires Are Getting Richer. Expropriate the Pandemic Profiteers.

"The dividends are rising, and the proletarians are falling." — Rosa Luxemburg

Nathaniel Flakin

December 1, 2020

Neera Tanden Is Biden’s Latest Middle Finger to the Left

Joe Biden has picked Neera Tanden, a fierce critic of Bernie Sanders and the progressive wing of the Democratic Party, to head the Office of Management and Budget. The move is just the latest sign that Biden will govern from the center-right, offering nothing to the Left.

Ezra Brain

December 1, 2020

A Tour of Views on China’s Relationship to Imperialism

To complement “China and Imperialism: Elements for the Debate,” which explores how to characterize China within the imperialist system, this article presents some of the alternative positions.

Esteban Mercatante

November 29, 2020

The Stock Market Celebrates Biden’s Cabinet Picks

The stock market posted record-breaking gains this week on the news of Joe Biden’s transition and corporate-friendly cabinet picks. These market gains mean more profits for capitalists and investors as the economic crisis continues for the working class.