A crisis is the method by which a capitalist economy partially purges itself of the effects of past mistakes while imposing misery on the masses.
Economists often characterize the outcomes as by the shape of letters of the alphabet.  A “V” indicates a quick collapse and an equally quick recovery.  “L” suggests a collapse followed by [...]

Several commentators have remarked about the sudden outbreak of class struggle in the United States. I see the brutal behavior of the state and federal governments as an indication of the failure of class struggle.
Let me explain. Back in the 1960s, when the United States was enjoying the so-called Golden Age of economic [...]

I was asked to write something up about my book, Manufacturing Discontent. I thought that I would share it with you. Any comments would be be appreciated.
Of all my books, Manufacturing Discontent may seem to have the least links with Marxism. After I published The Invention of Capitalism: Classical Political Economy and the Secret History [...]