economics

Dmitry Pozhidaev — In combination with growing state capitalism and the war economy, Russia’s delinking has created additional internal investment opportunities and fiscal space for income redistribution.
Todd Gordon & Jeffery R Webber — The immediacy of the Russian invasion of Ukraine alongside the emergence of China as a potential global power has changed the debate on imperialism.
Michael Roberts — Imperialism can be quantified in economic terms: it is the persistent transfer of surplus value to the rich countries from the poorest countries of the world. This process developed some 150 years or so ago and remains. 
Eric Toussaint — The World Bank report on the debts of “developing countries,” published on December 13, 2023, reveals an alarming fact: in 2022, developing countries as a whole spent a record US$443.5 billion to pay for their external public debt.
Prabhat Patnaik — The crisis of overproduction/underconsumption cannot be overcome within neoliberal capitalism itself. The only way out of this crisis is to go beyond neoliberal capitalism which is to go beyond capitalism.

First published at nonsite.org.

“There’s something happening here
But what it is ain’t exactly clear.”

Charlie Post reviews the three main radical and Marxian theories — under-consumption, profit squeeze, and the falling rate of profit — to determine their theoretical consistency, factual accuracy and political implications.
Michael Roberts talks about the realities of imperialism today and how much — or, rather, how little — has changed since Vladimir Lenin wrote his book on the subject.
Esteban Mercatante discusses how recent global shifts in processes of capital accumulation have contributed to China’s rise, the new (and old) mechanisms big powers use to plunder the Global South, and its implications for anti-imperialist and working-class struggles today.
Michael A. Lebowitz — The law of value works in mysterious ways. For some Marxists, it underlies everything we need to know about capitalism. But, just as Marx claimed he was not a Marxist, so too might he have said, “that’s not my law of value.”
Mike Treen — Inflation is back worldwide, and with it  the blame game. So what is the truth behind the claims and counterclaims being made?
John Smith, author of "Imperialism in the Twenty-First Century: Globalization, Super-Exploitation, and Capitalism’s Final Crisis", discusses the realities of imperialism today and what it means for those fighting for a socialist future.