The Great Recession - Profit cycles, economic crisis

The Great Recession - Profit cycles, economic crisis

"In my book, The Great Recession, I argue that the best short-term indicator of an oncoming capitalist slump or economic recession is the movement of profits – in particular, the total mass of profit." - author Michael Roberts

The Great Recession - Profit cycles, economic crisis.pdf878 KB

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Agent of the In...
Mar 25 2014 01:23



Feb 21 2015 03:50

Great Book

Mar 28 2019 16:42

A regular dip into Michael Roberts' blog is always well worthwhile even if you, like me, disagree with his own proposed 'socialist' solutions.
There are a good selection in the latest March 2019 listing starting with this as here;
And there is a good review of his other book titled 'The Long Depression' here:

Apr 23 2019 13:24
May 3 2019 12:19

A short effective blast against recurring notions of a possible ''progressive capitalism'' being argued by various economists advising governments to tackle their fears associated with growing levels of inequality producing working class rebellion and anti-capitalist sentiments:

May 24 2019 10:11

Modi's BJP has just won a resounding electoral victory in India despite all the reasons that might have suggested otherwise given their failure to even modestly tackle economic and social inequality amongst the masses of India's poor as this analysis illustrates well:
Surely also another example of a capitalist party employing it's version of 'identity politics' to sustain itself in power against the interest of the working class?

May 31 2019 12:36

An update from MR on the global risks of another recession from increased tensions in the USA/China trade war with a reference to their different 'triggers' rather than the underlying causes and a suggestion that the issue of the 'technology' gap between the two great powers seeking global influence and control might be relevant this time round;

Jun 18 2019 16:22

Michael Roberts has added this interesting comment on a book by Jorg Nowak which he sees reinforcing his own application of the 'Kondratiev-cycles' and it's relationship to advances and declines in the class struggle as viewed by the incidence and intensity of strikes (though it maybe ignores other factors related to class responses to wars). Could do with more understanding of Nowak's particular views on the changing nature of strike waves outside of the formal organisation of trade unions but haven't read his book myself.

Aug 22 2019 12:45

So what are ''inverted bond curves'' and what are the latest signs of a possible looming new phase of the recession and the fading worn out measures of the capitalist states and central banks to deal with it?
Michael Roberts tells all here:

Oct 12 2019 10:23

Latest in defense of Marx's Law of Value versus revisionist claims regarding 'Immaterial labour' and the extraction of 'rent income' in modern capitalism here:

Nov 22 2019 14:27

The Jorg Nowak book has lots of detail regarding the Indian Motor industry strikes and occupations which is useful, but the first third of the book is an overly long and boring PHd thesis type justification for writing it in the first place and justifying it's funding. Much better for the politically radical/revolutionary to plug into the work of the AWW for instance as here in part:
Might get round to the rest of the book comparing with Brazil.

Nov 22 2019 14:16

So a couple of good posts recently added provide some more very useful criticism of the misunderstandings of Marx's analysis by David Harvey and David Graeber respectively here: and