Archivo de la etiqueta: Michael Roberts

Energy, cost of living and recession — Michael Roberts Blog

The G7 governments have a problem.  The war in Ukraine against Russia is not won.  It looks set to be a long grinding conflict, possibly with no end.  And yet the world and particularly Europe depends on Russian energy supplies.  The G7 has agreed to stop buying Russian oil, as part of its programme of […]

Energy, cost of living and recession — Michael Roberts Blog

Calling a recession and blaming it on interest rates — Michael Roberts Blog

The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not.  Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive […]

Calling a recession and blaming it on interest rates — Michael Roberts Blog

Japan: the ‘new capitalism’ updated — Michael Roberts Blog

Japan’s prime minister Fumio Kishida comfortably won last October’s general election for the lower house of the Diet for the ruling Liberal Democrats (albeit with a slightly reduced majority).  And he is headed for victory in this Sunday’s upper house election, likely to extend the number of seats it holds to 60 out of 125 […]

Japan: the ‘new capitalism’ updated — Michael Roberts Blog

Socialist economic development – a review — Michael Roberts Blog

I recently participated in a zoom seminar to review a new book entitled Socialist Economic Development in the 21st Century by Alberto Gabriele and Elias Jabbour.  Gabriele is a Senior Researcher at Sbilanciamoci, Rome, Italy and Elias Jabbour is an Assistant Professor at the School of Economics, at Rio de Janeiro State University, Brazil. You […]

Socialist economic development – a review — Michael Roberts Blog

A tightening world — Michael Roberts Blog

It’s been a big week for the major central banks. First, the European Central Bank (ECB) called an emergency meeting because government bond yields were rising sharply in the more indebted Eurozone economies like Italy and Spain.  That threatens to deliver a new sovereign debt crisis as happened after the Great Recession from 2010-2014, leading […]

A tightening world — Michael Roberts Blog

Has globalisation ended? — Michael Roberts Blog

Apart from inflation and war, what grips current economic thought is the apparent failure of what mainstream economics likes to call ‘globalisation’.  What mainstream economics means by globalisation is the expansion of trade and capital flows freely across borders.  In 2000, the IMF identified four basic aspects of globalisation: trade and transactions, capital and investment movements, migration and […]

Has globalisation ended? — Michael Roberts Blog

Climate change and wars — Michael Roberts Blog

As the ugly war in Ukraine drags on, with more lives lost and atrocities (apparently) committed, energy and food prices hit yet more highs.  The Food and Agricultural Organisation (FAO) of the UN publishes a monthly global price index.  The FAO Food Price Index reached yet another record high of 159.3 points in March, up […]

Climate change and wars — Michael Roberts Blog

Korea: from Moon to Yoon — Michael Roberts Blog

In South Korea’s presidential election, held every five years, the conservative candidate, Yoon Suk-yeol of the People Power Party gained a narrow victory over the ‘progressive’ Lee Jae-myung of the ruling Democratic Party.  The turnout at 77.1%, high by international standards, was pretty much in line with previous elections.  The older the voter, the more […]

Korea: from Moon to Yoon — Michael Roberts Blog

Global warming: planning not pricing — Michael Roberts Blog

Carbon pricing and carbon taxes are now proposed by international institutions and mainstream economics as the main solutions to ending global warming and destructive climate change.  For some time, the IMF has been pushing for carbon pricing as ‘a necessary if not sufficient’ part of a climate policy package that also includes investment in ‘green […]

Global warming: planning not pricing — Michael Roberts Blog

Chinese Communist Party: a party of workers or capitalists? — Michael Roberts Blog

It’s 100 years today since the Chinese Communist Party (CCP) was first formed by just 50 members, mostly intellectuals, but including railway and mine workers.  100 years later to the day, the official membership figure is 95m and there are 4.8m party branches.  This is surely the largest political party the world has ever seen. […]

Chinese Communist Party: a party of workers or capitalists? — Michael Roberts Blog