President Trump’s economic team have release their plans for the federal budget over the next ten years. It is a combination of wildly optimistic economic growth forecasts, vicious cutbacks in public services and environmental measures; and significant cuts in corporate taxes and personal taxes for the rich. But what is exercising mainstream economists are the […]
a través de Trump’s budget balls-up — Michael Roberts Blog
William J. Baumol, who died last week at the age of 95, was one of the pre-eminent mainstream economists of his generation. He taught for more than 40 years at Princeton University and at New York University, where he retired in 2014. His work touched on monetary policy, corporate finance, welfare economics, resource allocation and […]
a través de William Baumol and the transformation problem — Michael Roberts Blog
Tensions in Asia have been rising sharply as North Korea continues its missile testing in defiance of US demands for them to cease. President Trump has been upping the ante with threats to by-pass China and the stalled so-called six party talks supposedly working out a ‘peace solution’ with North Korea, and ‘deal with’ North […]
a través de North Korea: a story of isolation — Michael Roberts Blog
Karl Marx published the first volume of his life work, Capital: A Critique of Political Economy, in September 1867. Together with Volumes II and III, published after Marx’s death by Friedrich Engels, this book remains the most profound and challenging study of the logic of the capitalist system that still dominates our lives. To discuss […]
a través de 150 years since Capital was published – a special symposium — Michael Roberts Blog
Michael Roberts 14/01/2017
Las bolsas mundiales terminaron 2016 en máximos casi récord y han comenzado 2017 en una vena similar. El optimismo sobre el crecimiento económico mundial, el empleo y los ingresos comienza a extenderse.
Los últimos datos sobre el sector manufacturero, medido por el índice de los llamados gestores de compras (PMI), que refleja el punto de vista de las empresas sobre sus ventas, exportaciones, empleo y pedidos, muestran un aumento en diciembre en todos los ámbitos y en particular en Europa y los EEUU. El PMI mide si las empresas manufactureras piensan que su actividad está expandiéndose o contrayéndose. Por encima de 50 indica expansión. En Europa, los índices PMI sugieren que la industria manufacturera se está expandiendo a un ritmo récord (desde un nivel bajo), mientras que el promedio mundial PMI ha alcanzado niveles no vistos desde 2013.
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The tech giant Apple has accumulated an enormous cash hoard of $246bn, larger than Sri Lanka’s estimated 2016 GDP. If Apple’s cash pile was its own public company, it would be the 13th largest in the world. Much of this cash pile ($215bn) is held abroad to avoid paying the higher rate of corporation tax […]
a través de Apple and the cash pile story — Michael Roberts Blog
Back in 2012 when Japanese PM Abe came to power, he launched a new economic policy that was supposed to get Japan out of its seemingly permanent deflationary stagnation. The ‘three arrows’ of this policy were 1) to print money and take interest rates down to zero and beyond to stimulate consumer spending – so-called […]
a través de Abenomics: an update — Michael Roberts Blog