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Economics

Capitalism’s accumulating crises: Henryk Grossman and the search for a Marxist theory of breakdown

Posted on 11th April 2024 by International Socialism

A review of Henryk Grossman Works, Volume 3: The Law of Accumulation and the Breakdown of the Capitalist System, Being Also a Theory of Crises, Henryk Grossman (Haymarket, 2022), £50 Henryk Grossman’s The Law of Accumulation and the Breakdown of… Continue Reading →

Book reviews crises, Economics, Henryk Grossman, rate of profit

Value theory in the 21st century: explaining money, crisis and imperialism

Posted on 11th October 2023 by International Socialism

A review of Capitalism in the 21st Century: Through the Prism of Value, Guglielmo Carchedi and Michael Roberts (Pluto, 2022), £19.99 Any new book by Guglielmo Carchedi and Michael Roberts is to be welcomed; both authors have had a long… Continue Reading →

Book reviews Economics, value theory

Kidron on Pearson on private foreign investment: debunking the myths

Posted on 10th July 2023 by International Socialism

Editor’s introduction I was going to open by writing that Michael Kidron (1930-2003) is best known as a Marxist economist, a leading theoretician of the International Socialist (IS) tradition and the foremost developer of the theory of the permanent arms… Continue Reading →

Archive Economics, global south, Michael Kidron, political economy

Economic strains

Posted on 16th June 2023 by International Socialism

A widely anticipated recession across the major economies had not taken hold by the time International Socialism went to press, but there was no doubt that the global economy was coming under intense strain.1 The post-Covid rebound in economic activity… Continue Reading →

Analysis, Article economic crisis, Economics, inflation

On the precipice

Posted on 3rd January 2023 by International Socialism

What are the prospects for left politics as 2023 begins?1 To say that the coming year will be one of crisis is simply to state the obvious, a point now accepted across the political spectrum and echoing through end of… Continue Reading →

Analysis Climate change, Ecology, economic crisis, Economics

Trussonomics confronts the crisis

Posted on 21st September 2022 by International Socialism

Liz Truss, asked to form a new government in what turned out to be the dying act of Queen Elizabeth II, confronts one of the greatest crises for an incoming British prime minister with one of the weakest mandates.1 Truss… Continue Reading →

Analysis Britain, Economics, inflation

Uncertain future: workers in the pandemic

Posted on 21st December 2021 by International Socialism

Production is the essential condition for any functioning human society, and collective human labour the foundation of production.1 These basic facts are typically buried under an overgrowth of ideology but the Covid-19 pandemic has helped to strip this back, placing… Continue Reading →

Uncategorised British working class, coronavirus, Economics, global working class

The debt system

Posted on 26th July 2021 by International Socialism

A review of The Debt System: A History of Sovereign Debts and their Repudiation, Éric Toussaint (Haymarket, 2019), £14.99 Even before the global shutdown caused by the coronavirus pandemic, the World Bank was warning that a new international debt crisis… Continue Reading →

Uncategorised Debt, development, Economics, Globalisation

The monetary and the military: revisiting Kidron’s permanent arms economy

Posted on 26th July 2021 by International Socialism

Marxist political economy has a two-fold interest in the economics of defence.1 On the one hand, Marxism has proposed explanations for the extent and scope of defence spending in contemporary capitalism, drawing on theories of imperialism.2 On the other hand,… Continue Reading →

Uncategorised Economics, Michael Kidron, political economy

Beating the bond vigilantes

Posted on 15th April 2020 by International Socialism

A review of Grace Blakeley, Stolen: How to Save the World from Financialisation Grace Blakeley (Repeater, 2017), £10.99. Stolen is a very comprehensive and readable account of the roots of financialisation in the 1970s crisis, which ended the “golden age”… Continue Reading →

Book reviews Economics, finance, Keynesianism, neoliberalism

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