Michael Roberts
Latest articles by Michael Roberts
The wealth of nations
Michael Roberts examines the controversies about using gross domestic product as a measure.
From socialism to ‘stabilising finance’
Hyman Minsky acted as a forerunner for protagonists of today’s ‘modern monetary theory’, writes Michael Roberts.
Land and the rentier economy
Brett Christophers The new enclosure: the appropriation of public land in neoliberal Britain Verso 2018, pp384, £20
Fixing the plumbing
You will get nowhere if you do not understand the capitalist mode of production, says Michael Roberts.
Marx’s double-edge law
Despite the arguments of David Harvey, writes Michael Roberts Marx’s law of the tendency of the rate of profit to fall is fundamental in understanding capitalist crises.
‘Correcting’ capitalist inequality
Keynesian proposals for ‘tax justice’ are not the answer, writes Michael Roberts.
Global and national inequalities
The global proletariat is continuing to grow and capitalism is mired in stagnation, writes Michael Roberts.
Intangible, but not immaterial
The law of value is fully applicable to the commodification of knowledge, argues Michael Roberts.
A rent-seeking economy?
The problem lies not in ‘financialisation’, argues Michael Roberts, but in the system of capital itself.
World’s scariest economist?
She advises Labour, Democratic Party hopefuls and the Scottish first minister. Michael Roberts critiques the ideas of Mariana Mazzucato.
Profits on the fall
The US officially admits its figures for the last three years were wrong. Michael Roberts comments on the revisions.
Completing the vicious circle
Michael Roberts recalls the disastrous policies of the Syriza government
G20 and trade war
Osaka saw a truce between the US and China. But the trade war will break out again. This is a struggle for global supremacy and, reckons Michael Roberts, the odds are that China will win
The heroes of finance
Despite the efforts of central banks the risk of a new global recession continues to rise, argues Michael Roberts
Trade and technology trigger
Michael Roberts warns that the US-China trade war brings with it the threat of another global downturn
Inequality soars worldwide
While the rich have never had it so good, writes Michael Roberts, the risks are increasing
Dashing of a dream
Michael Roberts provides the political and economic background to the general election in South Africa
Not an oxymoron?
Can there be a return to ‘progressive capitalism’? Don’t hold your breath, says Michael Roberts
A delicate moment
Capital’s major financial institutions are warning of the likelihood of another global recession, notes Michael Roberts
Growth across the world slows further and further
Despite predictions to the contrary, says Michael Roberts, the long depression is still very much with us
Chartalism and Marxism
Proponents of ‘modern monetary theory’ serve to mislead and divert the labour movement, argues Michael Roberts
Will the euro survive?
Michael Roberts looks back at the last 20 years and predicts a rocky future
Supply and demand quandary
Both neoclassical and Keynesian economics have got it wrong, writes Michael Roberts
Trade, tariffs and financial stability
According to the Federal Reserve, writes Michael Roberts, the risk of another recession is no longer ‘negligible’
Marx’s formulae confirmed
Michael Roberts looks at the latest figures on the US rate of profit
Capitalism is the cause of, not the solution to runaway climate change
The system cannot be managed more efficiently to halt global warming, argues Michael Roberts
Regulation does not work
We need ownership and control of the banks, argues Michael Roberts
More momentum on the banks
Real measures to control finance are needed, argues Michael Roberts
Keynesianism is no alternative
Michael Roberts reports on the range of illusions on display at a recent international conference
Rethinking economics
Attempts to broaden debate in university economics departments should be applauded, writes Michael Roberts
World trade and imperialism
US hegemony is under threat from China, Russia and India, writes Michael Roberts
The Keynesian dilemma
Will it be free trade or protectionism? Michael Roberts examines the contending views
A $1 trillion trade war
Michael Roberts looks at the likely end result of Trump’s new tariffs
Vulnerable to a major slump
The consolidation of Erdoğan’s rule and the intensification of repression cannot prevent the impending economic crisis, writes Michael Roberts
Capitalism and sovereign money
Financial crises cannot be avoided simply through bypassing the commercial banks, argues Michael Roberts
When will the crunch come?
Capital is facing a global debt crisis, warns Michael Roberts
Push them to the left
According to a new book, today it is the managers, not the capitalists, who rule. Michael Roberts begs to differ
Trump, trade and the tech war
With globalisation and growth on pause for a decade, Trump’s trade wars aim to keep the biggest US hi-tech and intellectual property companies on top, argues Michael Roberts
Chinese bank's alternative to Marxism
Is ‘trading economics’ China’s new ‘ideologically acceptable’ theory of capitalism? Michael Roberts looks at the thoughts of a major figure in the People’s Bank of China
Davos and the Donald
Trump’s appearance saw him demand a change in the rules, says Michael Roberts
‘Dead end’ of privatisation
The collapse of Carillion blows apart a key myth, argues Michael Roberts
Cryptocurrency craze
Does bitcoin open the way to a world free from the control of global authorities? No chance, argues Michael Roberts
Hire and fire as they please
With union combativity languishing, writes Michael Roberts, real wages continue to fall despite full employment
Ten years later
What has the bourgeoisie learnt from the 2007-08 crash? Not a great deal, writes Michael Roberts
The walking dead
The G20 only confirmed the sluggish nature of the global economy, writes Michael Roberts
Capital in disarray
The UK economy is set to enter a period of recession, argues Michael Roberts
Keynes or Marx?
What is capital’s driving force? Michael Roberts explores the profit-investment nexus
A story of isolation
Unification under capitalism can only but perpetuate inequality, writes Michael Roberts
Civilisation and the ‘long run’
Will the Keynesian radicals become mainstream conservatives when the long depression ends? It is capitalism itself that is the problem, argues Michael Roberts
Creating a level playing field
How is the law used to protect the interests of capital? Michael Roberts discusses the tension between competition and monopoly
Inequality reaches new high
Marx’s prediction 150 years ago that capitalism would lead to greater concentration of wealth has been borne out, writes Michael Roberts
Capital’s wishful thinking
Sections of the ruling class are now optimistic that Donald Trump will implement pro-business measures. But will they work? Michael Roberts analyses the likely impact of ‘Trumponomics’
Rate of profit continues to fall
Michael Roberts looks at the US data from 1948 to 2015
Turbulence ahead
All the indications are that the global economy is heading for big trouble, writes Michael Roberts
Still stuck in the Jackson Hole
It is profits that matter and investment that decides, writes Michael Roberts
Brexit, TTIP and TPP
Michael Roberts examines a possible effect of a British withdrawal from the European Union
Brexit, China and the Fed
The prospect of a global recession is very real, writes Michael Roberts
Not so new economics
Michael Roberts reports on John McDonnell’s plan to ‘transform capitalism’
Consistent, realistic, verifiable
Michael Roberts reviews: Fred Moseley, 'Money and totality', Brill, 2016, pp436, £102
Close down offshore
Transnational companies and the super-rich routinely get away with not paying taxes. But, writes Michael Roberts, something can be done about it
North and south
What is the nature of modern imperialism, asks Michael Roberts, one hundred years after Lenin?
Robots and capitalism
Can new technology and artificial intelligence open up a new period of expansion for capital? Michael Roberts examines the possibilities and problems
Scams we are still paying for
Michael Roberts reviews: Adam McKay (director/co-writer) The big short 2015, general release
The impending global recession
Blaming China is a diversion, argues Michael Roberts. The USA is still key
Good for the working class?
Michael Roberts examines the inadequacies of Corbynomics
Will the euro survive?
All bets are off, writes Michael Roberts. This article is based on his presentation to the CPGB’s Communist University in August
Is it all over?
Michael Roberts looks at the implications of China’s stock market collapse
Heading for a crash?
Michael Roberts comments on the speculation surrounding China’s latest growth figures
Close down financial casinos
Flash crashes, high-frequency trading and chicanery - ‘spoofing’ is just a symptom, writes Michael Roberts
The lucky generation and the historic limits of capital
Optimism amongst mainstream economists is clearly misplaced, argues Michael Roberts
The spectre of deflation
Will falling prices help stimulate the economy? Michael Roberts argues that, on the contrary, profits will be squeezed
Agony and the ecstasy
The current growth of the UK economy is unsustainable, says Michael Roberts. Indeed, there is a danger of another slump
The current long depression and its nature
Economic slumps are usually preceded by a decline in profits, writes Michael Roberts. This article is based on a presentation made to the CPGB’s Communist University in August 2014
Unpicking Piketty
Thomas Piketty Capital in the 21st century Harvard 2014, pp677, £29.95