Michael Roberts blog

Blogging from a Marxist economist

Recent Analysis

Mission impossible

Italian-American economist, Mariana Mazzucato, who works and resides in London, has become a big name in what we might call ‘centre-left’ or even in mainstream economic and political circles.  She has a new book out, Mission Economy: a moonshot guide to changing capitalism. Mazzucato was briefly an economic adviser to the UK Labour Party underContinue reading “Mission impossible”

Deflation, inflation or stagflation?

During the year of the COVID, global consumer and producer prices inflation dropped. In some manufacturing-based economies, there was even a fall in price levels (deflation) eg the Euro area, Japan and China). US inflation rate (annual %) “Effective demand” as Keynesians like to call it, plummeted, with business investment and household consumption dropping sharply. Continue reading “Deflation, inflation or stagflation?”