LEVELLING UP WITHOUT COUGHING UP.

The Tories may have a large majority, but they have an even larger problem, and I am not only referring to Johnson.

INNATE DEBT. The accumulation of debt during the industrial cycle.

If the hypothesis in this article cannot be disproved it has profound implications for capitalists crisis theory. In addition, it helps explain the dependency of industrial capital on financial capital.

IMPERIALISM, DRIVEN BY THE FALL IN THE RATE OF PROFIT

This article looks at imperialism via the prism of Marx’s reproduction schema. Marx’s earlier tables in Volume 2 in the Sections on “Simple and Expanded Reproduction” have been turned into modern input-output tables which are easier to grasp. What they show is that the immediate cause of all economic crises together with the resulting intensification of competition, both nationally and internationally, is due to changes in the consumption of the economic surplus by the capitalist class as influenced by movements in the rate of profit which governs their consumption.

IS CHINA A CAPITALIST STATE OR NOT?

The misnamed Chinese Communist Party recently celebrated its 100th anniversary. Its century was filled with trials and tribulations, but is as nothing to what is to come. In the next post I will examine the issue of imperialism more closely, examining the causes driving capitalism to absorb new markets.

THE BIG BANG: IS IT BEHIND US OR IN FRONT OF US? Capitalism’s five trials.

THE GROWTH OF FICTITIOUS CAPITAL RELATIVE TO NOMINAL GDP, using data from Credit Suisse.

WILL THE NEXT PRIME MINISTER ENJOY JOHNSON’S DECOR?

THE G7, NATO and PUTIN: It was all about China.

INEQUALITY times TAX DODGING: HEAVEN FOR THE RICH, HELL FOR THE POOR.

This weekend the leaders of the G7 get together to ratify the 15% global corporate tax rate. This marks a political shift but is not a done deal. This article examines tax dodging by the rich and their corporations. When wealth flows into fewer and fewer hands and when those hands pay less and less tax, society suffers.

A study by the Rand Corporation examining incomes up to 2018 showed that the changed tax arrangements cost workers up to $42,000 each year by 2016.

https://www.rand.org/pubs/working_papers/WRA516-1.html

VIRUSES OF MASS DESTRUCTION. The CIA is unleashed.

This week the Biden tasked its agent provocateur, the CIA to uncover the origins of the COVID virus. The deployment of the CIA confirms the old age adage – the first victim of war will always be the truth.