Economía marxista para el Siglo XXI

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Global slump: the trade and technology trigger — Michael Roberts Blog

Despite all the optimistic talk by President Trump about the state of the US economy, the latest data on economic activity and industrial production suggest that America is joining Europe and Japan in a sharp slowdown as we enter the second half of 2019. And this is at a time when the trade and technology […]

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Keynes: socialist, liberal or conservative? — Michael Roberts Blog

James Crotty is emeritus professor of economics at the University of Massachusetts Amherst. Along with his colleague Sam Bowles, he is one of the few radical heterodox economists to gain tenure at a leading American university. Crotty’s main contribution to economics has been to try and synthesise Marx and Keynes. This ended up with Crotty […]

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Progressive capitalism – an oxymoron — Michael Roberts Blog

Joseph Stiglitz is a Nobel (Riksbank) prize winner in economics and former chief economist at the World Bank, as well as an adviser to the leftist Labour leadership in the UK. He stands to the left in the spectrum of mainstream economics. He has just published a new book called People, Power, and Profits: Progressive […]

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Getting longer but lower — Michael Roberts Blog

The first three months of 2019 have shown a significant slowing in global economic activity. Global manufacturing output (as measured by JP Morgan economists) is actually falling. So too is global trade for the first two months of this year. And just today US retail sales for February also showed a slowdown. We’ve had falling […]

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Invisible Leviathan – Marx’s law of value in the twilight of capitalism — Michael Roberts Blog

My foreword to Invisible Leviathan, by Professor Murray Smith of Brock University, Ontario, Canada, published by Brill in November 2018. Relevant, I think, to my recent presentation on the contribution of Marx to economics made at the Rethinking Economics conference at Greenwich University, London. The message of Murray Smith’s book is aptly portrayed by its […]

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The fantasy world of the Long Depression — Michael Roberts Blog

This week, the US Federal Reserve Bank decided to stop raising its policy interest rate for the rest of 2019. The Fed started hiking rates from near zero back in late 2016 on the grounds that the Long Depression (in economic growth, investment and employment in the US and in other major economies) was over. […]

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Secular stagnation, monetary policy and John Law — Michael Roberts Blog

Last week, the prestigious Brooking Institution held a conference on the efficacy of monetary policy in stimulating and sustaining economic growth. At the conference, Larry Summers, former US Treasury secretary and professor at Harvard University and Lukasz Rachel of the Bank of England, presented a paper that aimed to revive, yet again, the idea that […]

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