Author: Michael Roberts

Do ‘excessive’ wage rises lead to rising inflation and thus drive economies into a wage-price spiral?  Back in 1865, at the International Working Men’s Association, Marx debated with IWMA Council member Thomas Weston.  Weston, a […]

Life expectancy is one of the best measures of human development.  In hunter-gather societies, on average, about 57-67% of children made it to 15 years. Then 79% of those 15-year-olds made it to 45 years.  Finally, […]

The swift collapse of Afghanistan puppet government when U.S. troops withdrew from the war with the Taliban and left the country after 20 years has been likened to the fall of Saigon at the end […]

“Let me be clear: capitalism without competition isn’t capitalism. It’s exploitation.”, U.S. President Biden tweeted when signing an executive order to expand competition across the economy and crack down on monopolistic practices, describing a misguided […]

‘Hedging’ used to be a way reducing the risk of selling or buying.  Farmers waiting for their harvest to come in are uncertain about what price per bushel they will get at the market: will […]