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Michael Roberts blog

Blogging from a Marxist economist

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COVID vaccines: calling the shots

Before the COVID-19 pandemic engulfed the world, the big pharmaceutical companies did little investment in vaccines for global diseases and viruses.  It was just not profitable. Of the 18 largest US pharmaceutical companies, 15 had totally abandoned the field.  Heart medicines, addictive tranquilizers and treatments for male impotence were profit leaders, not defences against hospitalContinue reading “COVID vaccines: calling the shots”

G20: the debt solution

This weekend, the G20 leaders’ summit takes place – not physically of course, but by video link.  Proudly hosted by Saudi Arabia, that bastion of democracy and civil rights, the G20 leaders are focusing on the impact on the world economy from the COVID-19 pandemic. In particular, the leaders are alarmed by the huge increaseContinue reading “G20: the debt solution”

Covid 2021: more calamity ahead?

The news that a COVID-19 vaccine could well be available by the start of 2021 sent the stock markets of the world shooting up to new record levels.  However, the rally was quickly tempered by the rocketing rise in COVID-19 infections as the northern hemisphere enters its winter.  The rise is most heavily exhibited inContinue reading “Covid 2021: more calamity ahead?”