September 23, 2023
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    Author: Michael Roberts

    Around the world

    1.2% of adults have 47.8% of the world’s wealth while 53.2% have just 1.1%

    August 23, 2023 Michael Roberts

    Every year, I bring to the attention of readers of my blog the results of the latest Credit Suisse Wealth Report.Ā  It is produced by economists Anthony Shorrocks (with whom I graduated at university), James […]

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    Capitalist crisis

    Food, trade and slumpflation

    August 11, 2023 Michael Roberts

    The latest measure of U.S. consumer price inflation for July actually showed an uptick in the year-on-year rate to 3.2% from 3% in June.Ā  That is mainly a result of comparison (ā€˜base effects’, they are […]

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    Around the world

    Britain’s royal rip-off

    May 6, 2023 Michael Roberts

    Today in Britain, King Charles III will be crowned in a ā€˜coronation’. Ā All the other remaining monarchies in Europe (Scandinavia, Netherlands, Belgium, Spain) don’t bother with a coronation, but the British monarchy has had a […]

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    In the U.S.

    The wage price spiral refuted

    December 2, 2022 Michael Roberts

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

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    Capitalism and Marxism

    Life expectancy and human development in the 21st century

    September 11, 2022 Michael Roberts

    Life expectancy is one of the best measures of human development.Ā Ā 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. Ā Finally, […]

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    Capitalism and Marxism

    The relative decline of U.S. imperialism

    August 18, 2021 Michael Roberts

    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 […]

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    Capitalism and Marxism

    Capitalism: has the leopard changed its spots?

    July 11, 2021 Michael Roberts

    ā€œLet me be clear: capitalism without competition isn’t capitalism. It’s exploitation.ā€, 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 […]

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    Capitalist crisis

    When the game stops: who’s really manipulating the market?

    January 29, 2021 Michael Roberts

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

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