Tag: Global economy
States of Indebtedness
Brandon Webb and Matthew Penney use Japanese state debt to show how both mainstream economics’ fiscal panic narratives and Modern Monetary Theory’s (MMT) closed economy model fail to account for how the monetization of public debt fuels speculative finance, redistributes wealth upward, and undermines social reproduction. A Marxist account of money does far better and points towards the need for a different, non-fetishized social form.
The Persistence of Global Capitalism’s Long Depression
Ashley Smith interviews Michael Roberts about the Long Depression and its role in driving political polarization and imperial rivalry.
Out of Lockdown and Back into the Long Depression
Ashley Smith interviews Marxist economist Michael Roberts about the deeper reasons for capitalism’s contemporary malaise, the shape and contradictions of the recovery, and debates between Marxists and Keynesians about the ability of government spending to restore growth and profitability to capitalism.