us-rate-of-profit-q3-2022Download table-1.14-up-to-q3-2022-preliminaryDownload table-1.14-annual-1970-2021DownloadUS LONG TERM RATE OF PROFIT, AND THE FALL IN THE QUARTERLY RATE UP TO Q3 2022.
China: Xi’s third term – part two: property, debt and common prosperity
In part one of my analysis of China’s economic future, I dealt with the claims that China would slow towards stagnation because its investment rate was too high, the working population was falling fast and the economy needed to become like mature Western capitalist economies based on consumption-led growth. I argued that the Western capitalist […]China: Xi’s third term – part two: property, debt and common prosperity
The three contradictions of the Long Depression
One of my basic theses about modern capitalism is that since 2008, the major capitalist economies have been in what I call a Long Depression. In my book of 2016 of the same name, I distinguish between what economists call recessions or slumps in production, investment and employment; and depressions. Under the capitalist mode of […]The three contradictions of the Long Depression