Explaining the last ten years: Keynes or Marx – who is right?

The latest economic data from the major capitalist economies do not make pretty reading.  The global slowdown, as measured in real GDP growth, is worsening.  The first reading for real GDP growth in the US, for the first quarter of 2016, delivered an annualised rise of just 0.5%, or 0.125% quarter over quarter.  If we compare the size of the US economy after taking into account changes in prices (inflation), with the first quarter of 2015, then the American economy is larger by just 1.9%.  That’s the slowest rate of expansion since early 2014. The US economy, the best of the …

Keynes, Marx and the effect of QE | Michael Roberts Blog

Keynes, Marx and the effect of QE One of the interesting sessions at last weekend’s Historical Materialism conference (apart from my session, of course) was one on the work of Suzanne de Brunhoff. Brunhoff was a Marxist economist from the 1970s onwards who specialised in Marx’s theory of money and applying it to the conditions of modern capitalism.  She died this year.  There is no space to deal with her contributions here.  What I want to take up from the session was a presentation by Maria Ivanova of Goldsmiths University, London. Ivanova made some key observations about Marx’s theory of money, …