Capital not ideology By Michael Roberts

18 October 2019 — Michael Roberts Blog

Back in 2014, French economist Thomas Piketty published a blockbuster book, Capital in the 21st century.  Repeating the name of Marx’s Capital, the implication of the title was that it was an updating Marx’s 19th century critique of capitalism for the 21st century.  Piketty argued that the inequality of income and wealth in the major capitalist economies had reached extremes not seen since the late 18th century and unless something was done, inequality would continue to rise.

Continue reading

The IMF Does Not Fight Financial Fires But Douses Them With Gasoline: The Forty-Second Newsletter (2019)

17 October 2019 — Tri-Continental

Dear Friends,

Greetings from the desk of the Tricontinental: Institute for Social Research.

Quito’s streets tremble between aspiration and repression; the smell of tear gas and the shouts for freedom reverberating in equal measure from one part of the city to another. President Lenín Moreno’s State of Emergency (October 3) and Curfew (October 12) give the men with guns more authority, but – despite hundreds of injured protestors and at least five dead – the violence has not broken the enthusiasm on the streets. The protests continue. Moreno’s options will soon run out. The oligarchy and the International Monetary Fund (IMF) – with a wink from the White House – might ask him to resign. They like their comprador to be credible.

Continue reading

Twitter under fire for profiting from millions of UK users data which it illegally sold to advertisers

14 October 2019 — True Publica

The crooks that run the global social media corps are at it again. Of course, they take Facebook’s lead where last July Facebook’s stock price actually went up after news of a record-breaking $5 billion FTC fine for various privacy violations. Just to repeat that – the fine was five thousand million dollars – and the stock price went up!

Continue reading

THE MARCH OF THE FINANCIAL ALGORITHMS

13 October 2019 — theplanningmotivedotcom

MACHINES LEARN, BUT FIRST THEY HAVE TO BE TAUGHT TO LEARN

The world and our brains are analogue, computers are binary. Analogue is infinitely more complex than binary, which cannot be emulated by binary systems including the qubits found in so called quantum computers. Binary systems, because they do not spontaneously form imprints of the external world, need programming. This programming can only be undertaken in the first instance by humans with all their fallibilities.

Continue reading

A Green Earth With Peace And Room For Us All

9 October 2019 — Transform! Europe

Source: flickr.com/DonkeyHotey

Draft Globalization programme submitted by the National Board of the Red-Green Alliance/Enhedslisten, Denmark, to the party’s next Annual Congress on 5 – 6 October. It is a programmatic text about global development.

The world economy is characterized by major economic inequalities and by a production system that has already exceeded the limits of what is globally sustainable.

Continue reading

Knowledge commodities

8 October 2019 — Michael Roberts Blog

In the Oxford Handbook of Karl Marx, Thomas Rotta and Rodrigo Teixeira have a chapter called the commodification of knowledge and information.  In this chapter, they argue that knowledge is ‘immaterial labour’ and ‘knowledge commodities’ are increasingly replacing material commodities in modern capitalism.
Continue reading

Thomas Sankara: Imperialism is the Arsonist of Our Forests and Savannas

1 October 2019 — Internationalist 360°

This speech was first given at the first International Silva Conference for the Protection of the Trees and Forests in Paris. It has been since been disseminated by revolutionaries through many means as a way to underscore the necessity of social revolution and an environmental focus. Now more than ever this speech is necessary to internalize, as we face profound and previously unseen danger regarding environmental crises in capitalism. Comrade Thomas Sankara died in service of this task, and the very least we can do is pay tribute to what it is he died for, and internalize the lessons of the Burkinabè revolution. As always, the following has been made available here for the purposes of study and struggle.

Continue reading

Socialism is the only realistic solution to climate change by John Molyneux

1 October 2019 — Climate & Capitalism

There is no third way

Capitalism will not and cannot prevent climate disaster. A socialist response at governmental and societal level is an historic necessity.

John Molyneux is editor of Irish Marxist Review and a supporter of People Before Profit. This article was first published on the socialist website Rebel.

Continue reading

A global manufacturing recession

1 October 2019 — Michael Roberts Blog

As we enter October, the global recession is with us – in manufacturing.  The PMI manufacturing activity indexes for most of the major economies are below 50, the threshold for expansion or contraction.  These are only surveys of corporate managers asking them about production, sales, employment etc.  But PMIs have been reasonably accurate indicators of actual industrial and manufacturing output, the data for which follow somewhat later.

Continue reading