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Michael Roberts blog

Blogging from a Marxist economist

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China at a turning point?

The debt problems afflicting China’s real estate market deepened this week after another property developer defaulted on its bonds and the world’s most heavily indebted property group Evergrande extended a suspension of its shares into a second day without explanation. Fantasia Holdings, a mid-sized developer, that just weeks ago assured investors it had “no liquidityContinue reading “China at a turning point?”

MMT and Marxist monetary theory – a reply to Bill Mitchell by a man with no name

Bill Mitchell is a Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at the University of Newcastle, NSW, Australia. Professor Mitchell is one of the world’s leading exponents of what is called Modern Monetary Theory (MMT).  MMT has gained traction in the labour movement in recent years on the groundsContinue reading “MMT and Marxist monetary theory – a reply to Bill Mitchell by a man with no name”