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Economy

The Fed Will Raise Interest Rates “Soon.” The Capitalists — and Democrats — Are Very Nervous

The Federal Reserve announced today that it would “soon” be raising interest rates — probably in March — in an effort to stem inflation, which has hit its highest levels in the United States since 1982. The Democrats are desperate to keep inflation from becoming an issue in the midterm elections.

Scott Cooper

January 26, 2022

“Black Monday”: World’s Stock Markets Fall in Reaction to the Fed and Ukraine

Global stock markets took a serious tumble on Monday as fears over inflation and the conflict in Ukraine affected trading. It has been a bad year so far in capitalism’s network of casinos.

As Inflation Rises, Workers Have Options for Struggle

As inflation courses through the U.S. economy, the ruling class is responding with higher interest rates and other steps aimed at keeping wages lower for the workers who bear the brunt of price hikes. What demands should workers raise to fight the latest capitalist attacks on our standard of living?

Scott Cooper

January 5, 2022

Capitalist Bonanza: Share Buybacks Reached Record High in 2021

Share buybacks hit a record high in 2021, enriching investors and executives at the expense of the working class.

Otto Fors

January 4, 2022

The Democratic Party and Capitalism’s Economic Contradictions

The Democratic Party is promising that its spending packages will rejuvenate the economy. And that has helped the party bewitch the Left and dampen mass struggle in the United States. But the economic situation today — riven by fundamental, explosive contradictions — shows that those promises are built on sand, and that we need to reject the Democrats and organize for an independent, revolutionary struggle.

Jason Koslowski

November 27, 2021

Tariffs to Fight Climate Change? It’s a Capitalist Ruse

At COP26, the leading capitalist countries are pushing the idea of tariffs on certain exports as a way to reduce emissions. But these proposals are really about shoring up Western capitalism’s ability to compete with China.

Scott Cooper

November 6, 2021

Job Growth or Job Decline, It’s All About Capitalist Exploitation

A recent Wall Street Journal editorial affords a look into the argument the capitalists are having within their class about the most recent Labor Department jobs numbers.

Scott Cooper

October 11, 2021

Snap Canadian Elections Change Nothing

Prime Minister Trudeau achieved nothing with his snap election and faces the same problems in getting Canada’s capitalist economy going as before.

Michael Roberts

September 22, 2021

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.

Michael Roberts

July 17, 2021