Tag Archives: Michael Roberts

Excessive credit, rentier capital and crises

By Michael Roberts: “It is a delusion or a fetish to look at credit as the main or only cause of crisis.  In a capitalist economy, profit rules.  If you deny that, you are denying that capitalism is the right term to describe the modern economy.   Maybe it would be better to talk about […]

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Keynes, civilisation and the long run

By Michael Roberts: – “To avoid the situation where in the long run we are all dead, Keynes reckoned that you must sort out the short run.  But the short run cannot be sorted to avoid the long run.  Deliver full employment and all will be well, he thought.  Yet, now in 2017, we have […]

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Workers of the world cannot unite…

By Michael Roberts: In a recent post I relayed the results of a study of the global inequality of wealth (that’s property and financial assets) recently produced by the top experts in the field, Tony Shorrocks and Jim Davies (Global-wealth-inequality).  The study revealed that the top 1% of wealth holders in the world had 41% […]

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Brazil: the carnival is over

By Michael Roberts: “The nationwide street demonstrations of the past few weeks have sent shockwaves through Brazil’s political elite. There is widespread discontent with a ruling class that is seen as self-serving and corrupt.  More than a million Brazilians have poured on to the streets in recent weeks to protest against a litany of grievances, […]

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