economics

Lies, Damn Lies and Economics – Black Flag

Joan Robinson once said that the point of studying economics was to be able to work out when economists were lying. Being a left-wing Keynesian, she was immune to the usual ideological (if not religious) biases of mainstream economics. Her point is both correct, and usually ignored because economics has far more to do with ideology than facts, belief than science.

Collectives in the Spanish Revolution - by Gaston Leval (2018 Updated & Improved Edition)

A new, updated, and improved edition of a classic of anarcho-syndicalist economics -- a detailed eyewitness and analysis of the successes and struggles of a libertarian socialist economy

Senex's Letters on Associated Labour

The oldest complete work of socialist economic theory

Reflections on the Coronavirus and Economic Crises

A much expanded update to the article we previously published here: leftcom.org

World in Crisis: A Global Analysis of Marx's Law of Profitability - Guglielmo Carchedi and Michael Roberts

World in Crisis is a collection of recent papers by Marxist economists from around the globe. Its purpose is simple. It is to compile evidence from recent developments in economies internationally to support the view that Marx’s law of the tendency of the rate of profit to fall provides the best explanation of the cause of recurrent and regular crises (slumps) in global capitalism.

Reflections on Coronavirus and the Economic Crisis

Leaving aside for a moment the issue of “fake news” conspiracy theories circulating in the ether about the origins of the virus, that whether by accident or deliberately American laboratories engineered it themselves (with all the implications this would have on international imperialist scenarios), let us confront the problem in simple terms, based on what the theorists are saying about the possibility of coming out of this latest financial-economic crisis.

How Capitalism Works

An introductory book on Marxian economics. Studies the workings of capitalism, and the relation of labor, profit, money, government, and class in terms of Marxist economic theory.

Today is Grey but the Future Looks Black

New year, old music, from a well-known score sheet played out by... the Left. A "Left" that’s not ashamed to dress itself up in populist clothes, worn in the service of state capital on the understanding that this is the way to open up markets as a "progressive realisation of the patriotic ideal and the concept of nationhood". In the name, of course, of the people and the "concept of community" as understood by those who are ready to recite the hidden virtues of a renewed "capital-socialism".

A leftist history of the U.S. economy

A summary of Richard Du Boff's comprehensive history of the American economy.

The Shadow of September 2008 Continues to Lengthen

It is now 11 years since the bankruptcy of Lehman Brothers. The crisis in the real economy, instead of fading from memory, has become a fixture.