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Michael Roberts blog

Blogging from a Marxist economist

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Profits call the tune

I have argued in many posts that ‘profits call the tune’ in capitalist accumulation.  What I mean by that is that any change in business profits (and profitability) will lead to changes in business investment – and not vice versa over time.  Profits are key to capitalist investment, not ‘effective demand’ as Keynesians argue, orContinue reading “Profits call the tune”

Imperialism meets in Cornwall

This weekend, the leaders of the ‘free world’ are flying (and helicoptering) into Cornwall, at the tiny end of England, for the first physical meeting of the G7 nations.  As they increase the carbon footprint sharply through extensive fossil fuel activity, the G7 agenda will include dealing with climate change, global ‘action’ on the COVIDContinue reading “Imperialism meets in Cornwall”