Science and Its Philosophy From a Marxist Perspective
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
China’s Congress of the Communist Party takes place this week. This is an important event not only for China, but globally. The Western media have concentrated on the fact that current party leader Xi Jinping will be confirmed for an unprecedented third term as party leader and thus also continue as President of China when […]
China: Xi’s third term – part one: growth, investment and consumption
the-hunt-for-truss-1Download The delusional Truss became the most short-lived Prime Minister in British history. Boris Johnson is trying to regain the Premiership. In the article I posed the question whether the populist wing of the Tory Party had been crushed or not? The answer is it has. Therefore, it is highly unlikely that Johnson will prevail […]
IN THE MARKETS WE TRUSST. A Brief Review of the UK Government’s U-turn in the face of the BOE’s intransigence.
In several previous posts, I have highlighted what are called ‘zombie’ companies (companies whose regular profits do not even cover the cost of servicing their outstanding debts) and so must, to paraphrase former BoE governor Mark Carney, depend on the kindness of their creditors”. An OECD study found that such zombies take up a frighteningly […]
Fallen angels
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