Michael Roberts blog
Blogging from a Marxist economist
Recent Analysis
Joseph Stiglitz and ‘progressive capitalism’
The liberal leftist economist and Nobel (Riksbank) prize winner Joseph Stiglitz has another book out to proclaim the benefits of what he calls ‘progressive capitalism’. The Road to Freedom is a play on the title of Friedrich Hayek’s infamous book, The Road to Serfdom, published in 1944, which claimed that government intervention into the ‘freedom…
Vulture capitalism
Grace Blakeley is a media star of the radical left-wing of the British labour movement. She is a columnist for the left-wing journal, Tribune, and a regular panellist on political debates in broadcasting – often the only spokesperson on the left advocating socialist alternatives. Her profile and popularity took her last book, Stolen, straight into…
Inflation and interest rates: the US experience
Once again the US Federal Reserve is in a quandary. Does it cut its policy interest rate soon in order to relieve pressure on debt servicing costs for consumers and businesses and perhaps avoid a stagflationary economy (ie low or no growth alongside higher inflation); or does it hold its current interest rate for borrowing…
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