Michael Roberts blog

Blogging from a Marxist economist

Recent Analysis

Whither the global economy?

How is the global recovery after the COVID pandemic going?  The economic consensus is that the major economies are recovering fast, driven by rising consumer spending and corporate investment.  The problem ahead is not a return to sustained economic growth but the risk of higher or more long-lasting inflation in the prices of goods andContinue reading “Whither the global economy?”

Kornai on capitalism and socialism

János Kornai recently died at the age of 93.  He was a Hungarian economist noted for his analysis and criticism of the command economies of Eastern European communist states. He was widely acclaimed in Western academic circles.  He eventually joined the faculty of Harvard University and was on the board of the Hungarian Central Bank after the SovietContinue reading “Kornai on capitalism and socialism”

Twilight capitalism

Twilight capitalism: Karl Marx and the decay of the profit system is the best book on Marxist political economy in 2021.  Authored by Murray EG Smith, Jonah Butovsky and Josh Watterton, these Canadian-based Marxist economists have delivered a comprehensive and often original analysis of global capitalism in the 21st century.  As the title of theContinue reading “Twilight capitalism”