Michael Roberts blog
Blogging from a Marxist economist
Recent Analysis
Inflation and the central banks
The era of disinflation is over. By disinflation, I mean a rise in overall prices of goods and services, but at a slowing rate. Deflation means an actual fall in prices. That has not been the case for many decades, not really since the end of money as a physical commodity, namely gold and the…
Hungary: the end of the Orban era?
Hungary has a general election tomorrow. Hungary is a relatively small country with less than 10m in population and with a GDP of just $220bn and with just 8.2m registered to vote. This election is pivotal, not just for Hungarians, but also for the EU Commission and the core European governments. The incumbent Fidesz government led by…
Measuring a world rate of profit -again
Back in 2012, I made an initial attempt to go beyond measuring the rate of profit on capital in any one country and calculate a world rate of profit. Then, I argued that it was important to test Marx’s law of the tendency for the rate of profit to fall on a world level. As…
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