Financial Fictions: The Old Ones

In recent months, we have seen financial meltdowns from Archegos Capital and Greensill Capital. Marxist economist Michael Roberts dives into the fictitious capital behind these events.

Federal Reserve Gearing Up for Banks to Share Their Wealth … with the Rich

An announcement yesterday is warming the hearts of bankers and other capitalists across the United States. They’ve been waiting impatiently for the end of pandemic-related restrictions that have kept them from some of their favorite ways of further enriching themselves and their wealthiest friends. 

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.

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.

The Social Composition of the Anti-Trump Vote

It took days of counting votes, but the 2020 election finally ended. Biden won because workers, ethnic minorities, young people and city dwellers voted against Trump. Economist Michael Roberts investigates the data. The following article was originally posted on Michael Roberts’ blog, “The Next Recession."

Uneven Development and Imperialism Today: Engaging with the Ideas of David Harvey

The last few decades have been characterized by weak economic growth in the developed countries, which contrasts with the dynamism shown by China and other countries on the periphery. What does this tell us about the relations that characterize the world capitalist system?

Returning To Normal?

With over tens of millions unemployed in the US and economies slowly reopening after the coronavirus pandemic, where are we heading? Economist Michael Roberts provides perspective. The following article was originally posted on Michael Roberts' blog, "The Next Recession. "

The COVID-19 Conjuncture

In this interview, Warren Montag argues that the COVID-19 pandemic is being used by capital to enforce --- through the instrument of the state --- unheard-of levels of market discipline to secure profits at the expense of working people’s lives.