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.

Can Technology Alone Propel Us Beyond Capitalism?

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

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.

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.

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?

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.

“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.

Billionaires Are Getting Richer. Expropriate the Pandemic Profiteers.

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