My earlier article, “Signs of a renewed general crisis of capitalism,” focused on the important role the money commodity gold continues to play in the world capitalist economy—and indirectly in shaping world politics. Understanding that role is therefore crucial to a...
Introduction by author The following article presents a viewpoint on crises and long-term trends of the capitalist economy that differs in important respects from the views of most Marxist economists today. This viewpoint has been developed over some 50 years of...
Two major developments occurred in the global economy in early December that have drawn much commentary and analysis in the financial media. First, the Organization of Petroleum Exporting Countries failed to agree on a reduction of oil production quotas. Saudi Arabia,...
A “return to normalcy,” a return to the way of life before World War I, was U.S. presidential candidate Warren G. Harding’s campaign promise in the election of 1920. Republican Harding won the election, and for nearly a decade it seemed that capitalist normality had...
Originally posted in Issue 57 of Aspects of India's Economy, published by the Research Unit for Political Economy. Author Jacob Levich, [email protected], has written on imperialist military strategy for Aspects No. 42. He lives in New York City and tweets as...
Economics behind abandonment of public education In elementary, middle and high school, students are told to study hard so they can get into college and be able to find a good job. While only a certain percentage move into higher education, the sacrifices involved in...
According to the most recent data released by the Federal Reserve, U.S. industrial production as measured by the Fed's manufacturing index (see chart), reached 101.2 in May, finally surpassing the previous peak of 101.0, reached in December 2007. Following that peak,...
Featuring Richard Becker
In early 2005, as the most recent boom phase of the capitalist industrial cycle came into sight, Apple’s Steve Jobs arranged a secret and illegal pact with Google’s Eric Schmidt to hold down their workers' wages by agreeing not to recruit each other’s employees,...