economics

Michael Roberts — Keynesianism advocates digging holes and filling them up to create jobs. Military Keynesianism advocates digging graves and filling them with bodies to create jobs.

James Doughney — Careful attention to Marx’s exposition of the theory of the declining rate of profit demonstrates that his theory is not coherent, even in its own terms.

William I Robinson — Faced with an unprecedented crisis of epochal proportions, global capitalism’s extermination impulse is rising to the surface. Never has the slogan “resist to exist” been more opportune and appropriate.

James Doughney interrogates some commonly held beliefs and assumptions about monopoly capital, surplus profits and the export of capital — and explains why they are not coherent.

James Doughney — It is hard to avoid thinking that any attempt to airbrush Lenin’s ‘Imperialism’ is a form of avoidance behaviour in the face of awkward but stubborn facts.

Dmitry Pozhidaev — In 2024, Serbia offered a particularly clear reflection of the three core dimensions of capitalism’s crisis: political, economic and systemic.

David Kotz dissects the lessons from the Soviet model, explains why capitalism cannot be reformed and makes a case for democratic socialism.

Dmitry Pozhidaev — In many ways, Acemoglu and Robinson’s framework echoes the “end of history” thesis popularised by Francis Fukuyama.

Promise Li — Economic interdependence has shown surprising resilience even across rival geopolitical blocs. Existing theories of imperialism fail to fully account for these seemingly contradictory dimensions of today’s world system.

Claude Serfati — The global space is being transformed under the dual pressure of economic dynamics and geopolitical rivalries.

Ilya Matveev discusses the two logics of imperialism, how they help us explain the different paths that China and Russia took to become imperialist powers, and the left's need for a shared vision of progressive change.

Dmitry Pozhidaev — ‘Capitalism in the Twenty-first Century Through the Prism of Value’ aims to explain 21st-century capitalism through Karl Marx’s value theory.