UNDER A BAKING SUN PROFIT TEARS THE WORLD APART.

The markets had there worst half year for decades. In fact the markets fell faster than during the first 6 months of the Dotcom crash. The first half drop was primarily caused by the fear of higher interest rates provoked by inflation. The second half drop will be caused by the fall in profit margins. The earlier than expected tapering of interest rates will not alter this. The world economy has effectively entered into recession. The only question is how deep,?

BRITISH WORKERS RISE UP, THE ECONOMY FALLS DOWN,AND THE PRIME MINISTER LANDS ON HIS ARSE.

Piero Sraffa and ‘The Production of Commodities by Commodities’. (An anti-working class treatise.)

This is an updated critique previously published and submitted to the journal Historical Materialism for consideration.

HOW STUPID CAN THE FED GET? ITS THE WAR DOPEY!

THE WORLD ECONOMY. BLEEDING FROM HUNDREDS OF CUTS BUT NO AMPUTATIONS YET. (Part 1.)

CRITIQUE OF A RECENT PAPER PUBLISHED IN HISTORICAL MATERIALISM ON THE TRANSFORMATION PROBLEM

I sense that Marx’s Transformation Problem found in Chapter 9 of Volume 3 is going to get more of an airing as today’s growing storms pummel capitalism. The Transformation Problem or the understanding of how value is converted into price via the movement of capital is central to the law of value, and answering it, is central to defending the law of value. The transformation problem has been the graveyard for many theorists who have sought to assist Marx, by either re-interpreting him, or rendering him more profound or by seeking to bury the real problem by substituting a non-problem. Like helpful D.I.Y. bodgers they have ended up devaluing the house that Marx and Engels built. The paper being critiqued has once again misinterpreted Marx. What my Critique also does is to introduce what has not been considered before, something novel in the Marxist lexicon, the difference between complicated systems and complex systems, something which capitalist corporations have to grapple with every day. By showing that capitalism is a complicated and not a complex system, this critique establishes that the relation between value and price can be determined, something which the authors disallow.

DRAFT 21st CENTURY PROGRAMME

I have brought this programme to the head of the queue again in case new readers have missed it. I consider it to be the most important document on this site, and the most needed as capitalism increasingly succumbs to its own crisis. We need to start looking forward, to a world without capitalism, which this programme shows is possible.

THE TORY PARTY IN BRITAIN COMMITS POLITICAL SUICIDE.

ONCE MORE ON WILLIAM JEFFERIES CREATIVE ARTICLE ON THE RATE OF PROFIT, AND THE DATA HE USES TO ESTIMATE THIS RATE.

US PROFITABILITY FALLS IN THE FIRST QUARTER,BUT CAN CHINESE STIMULI RESCUE ITS ECONOMY & THE WORLD ECONOMY?