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Michael Roberts blog

Blogging from a Marxist economist

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The wage price spiral refuted

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 leader of the carpenter’s union, argued that asking for increased wages was futile because all that would happen would beContinue reading The wage price spiral refuted

Historical Materialism Conference – monopoly, imperialism, inflation and Ukraine

As usual it won’t be possible to report on all the many sessions at this year’s London Historical Materialism conference that took place last weekend.  I could only attend a few sessions and concentrated, naturally, on ones to do with Marxist economics.  Also, I was participating in two sessions myself that clashed with others thatContinue reading “Historical Materialism Conference – monopoly, imperialism, inflation and Ukraine”