Economy

Biden Wants Us to Celebrate “Good” Economic Numbers, But They’re Only Good for the Rich
President Biden is touting U.S. economic numbers released yesterday as proof of the greatness of his first year. He wants us all to celebrate with him. The next numbers aren’t going to be so good.
Scott Cooper
January 28, 2022The 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.
La Izquierda Diario Argentina
January 25, 2022As 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, 2022Capitalist 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, 2022The 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, 2021Tariffs 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, 2021Job 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, 2021Snap 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, 2021Competition, 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