Here is an article about declining profits in the corporate world. It fits with how Karl Marx explained the contradictions of capitalism. (Note: These are tendencies, not something that happens absolutely in […]
A profits recession?
Wall St. Journal admits Marx was right
It was clear from the headline alone: The Wall St. Journal was admitting that Karl Marx was right. They wrote: Investors Brace for Hit to Profits as Costs Rise Increasing wage and […]
World Economic Perspectives
Trump has been bragging about the booming US economy. But this economy does not exist in a vacuum; it’s directly related to the world economy. And in both cases, the economic expansion […]
Stock market crash: 1987, 2007 or 1937?
Here’s Michael Roberts, one of the most serious Marxist economists, on the stock market crash. He seems to think it’s a warning but does not portend an immediate crisis.
The Never-Ending Race to the Bottom: Who’s Next?
Many years ago, this writer was a delegate to the Alameda County Building Trades Council for his local of the Carpenters Union. At one point the executive secretary of the council (his […]
Spain, Greece and the Race to the Bottom
An article in today’s (6/3/2015) Wall St. Journal perfectly describes what all the pressure on Greece’s Syriza-run government to further cut living standards is really all about. It focuses on what’s happening […]
Macron’s Law: “It’s called global capitalism for a reason.”
Some 40 years ago, this writer got into a debate in the Alameda County Building Trades Council with that council’s executive secretary. The executive secretary was pushing the line that our unions should […]
Greek Update: What’s at Stake For Us All
It has been a scarce two weeks since the Greek working class put the radical Syriza party into power in Greece. They did that to put an end to the starvation there […]
Do higher wages lead to higher prices?
One of the arguments of the bosses and their representatives is that an increase in the minimum wage will cause prices to increase – that we’ll be paying $15 for a MacDonald’s […]
$15 per Hour Minimum Wage: The Class Struggle Heats Up
There is no doubt about it: Winning a $15 per hour minimum wage for Seattle workers would be a small but significant victory for the entire working class. It would increase the […]