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Economy

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

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.

Michael Roberts

July 9, 2021

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.

Michael Roberts

June 2, 2021

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.

Scott Cooper

March 18, 2021

The GameStop Battle on Wall Street Reveals the True Nature of Finance Capital

The GameStop bubble not only reveals what a “casino” the stock market is, but also shows us that when workers employ the methods of the bourgeoisie, they will be shut down and silenced.

M.K. Kumar

January 29, 2021

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.

Michael Roberts

January 27, 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.

Michael Roberts

January 21, 2021

Can Technology Alone Propel Us Beyond Capitalism?

A polemic with those who believe AI, robotics, 3D printing, and nanotechnology will overcome class exploitation.

Paula Bach

January 3, 2021