Talking about the world

I’ve just done a radio interview with It covers a range of topics: the UK election, the Eurozone crisis, the global debt crisis, the nature of the financial crisis, the bankruptcy of mainstream economics and whether economic recovery will last. Phew! Pretty much sums up my views on all the current issues. AppreciateContinue reading “Talking about the world”

Hanging by a thread

Back in early March, I posted a blog about the UK election (The British election – it’s the economy, stoopid!, 7 March 2010),  in which I argued that New Labour would be defeated in the general election expected in May.  New Labour under Tony Blair and Gordon Brown had presided over an economy that hadContinue reading “Hanging by a thread”

Doing God’s work

Lloyd Blankfein is the chief executive officer of Goldman Sachs, the world’s most powerful investment bank.  Last November, Lloyd was interviewed by the UK’ Sunday Times.  It went something like this:  “So it’s business as usual then, regardless of whether it makes most people howl at the moon with rage?  Goldman Sachs, this pillar ofContinue reading “Doing God’s work”

Inequality of opportunity

Sorry, there’s been a gap between my last blog and this.  I’ve been busy working for a living and also starting to prepare a paper for an upcoming  conference of non-mainstream economists – more on that in the future.  I’ll try to make more regular entries from now on.  There’s a lot of blog itemsContinue reading “Inequality of opportunity”

From the horse’s mouth

Alan Greenspan was chairman of the US Federal Reserve during the great credit boom of 2002-07, which, as we know, ended in the massive credit crunch and financial sector collapse and the Great Recession of 2008-9. During the boom period, he was hailed as a virtual god by Wall Street speculators and mainstream economists.  BobContinue reading “From the horse’s mouth”

The British election – it’s the economy stoopid!

Britain will go to the polls on Thursday 6 May.  The campaigns of the major parties are under way and the usual ‘scandals’ and ‘revelations’ are coming to the surface, whether it is Gordon Brown’s bullying behaviour to his staff or Lord Ashton’s economics with the truth over his ‘offshore’ tax status as the mainContinue reading “The British election – it’s the economy stoopid!”

The rate of profit and economic crisis – the debate

It’s been a while since my last blog – other things to do, I’m afraid.  And I promised to deal with some of the key criticisms of my view of the laws of motion of capitalist crisis that I raised in my  book, The Great Recession (available from However, that will have toContinue reading “The rate of profit and economic crisis – the debate”

Unfair society, unhealthy lives

Coming on hard behind the recent UK report on inequality of income and wealth in the UK (see my blog, Inequality in Britain, 28 January 2010) is a new report on the health of Britons (or the English, to be more exact).  Commissioned by the UK government , chaired Sir Michael Marmot, Professor of PublicContinue reading “Unfair society, unhealthy lives”

Profit cycles – do they exist?

Nobody agrees with me, whether they are Marxist or non-Marxist economists, but I reckon that profitability of capitalism moves in cycles.  The profit cycle is about 32-36 years, with an up phase of 16-18 years followed by a down phase of similar length. In my book, The Great Recession, ( or at Amazon, reading “Profit cycles – do they exist?”