NM's blog

By Michael Roberts Anwar Shaikh has died at the age of 80 after a period of illness. Born in Karachi, Pakistan, Anwar was THE figure in classical and Marxist economics of the last 40 years or more. He was an educator of many radical economists over decades as Professor of Economics at the New School for Social Research in New York. He wrote many seminal and important works, which were eventually compiled and added to in his magisterial book (always on my bookshelf ready to consult): Capitalism: competition, conflict, crises. Please read this article on Anwar's work that I wrote for the New School Economic Review in 2023, a special issue to celebrate his work and that of Duncan Foley. "Anwar Shaikh’s contribution to the economics of reality—i.e. the political economy of capitalism— is immeasurable." "Shaikh has covered just about every area of the macro (and the micro) and has delivered new theoretical insights backed up by empirical evidence—a combination sadly lac...

The left-wing economist Anwar Shaikh has passed away

Far-right figures fuel Islamophobic claims with false student protest videos

 Jean-Luc Mélenchon

I keep on thinking: If one attack—as barbaric as it was, and it was barbaric—if one attack pushes so many Israelis to become inhuman... imagine yourself what it does to Palestinians who live under those attacks for decades. — Gideo Levy

Less attention has been paid to how the expansion of household debt has been changing workers’ position in the workplace. Situated at the intersection of political economy and labour studies,  Giorgos Gouzoulis’  Debt and the Future of Workers: Financialisation as Exploitation in the 21st Century  takes up this question by arguing that personal debt has become a key mechanism of labour discipline . Instead of mortgage, student, and medical debt simply reflecting stagnant wages and insecurity, Gouzoulis argues that they actively reinforce them by making workers more dependent on continued employment. With more to pay, they have more to lose, and are less willing to risk strikes, union activity, or confrontation with employers.  Gouzoulis offers a distinctive way of thinking about exploitation in the 21 st  century. Capital’s power over workers does not end at the factory gate or office door, but extends into the household through debt.  

“National solvency is a far greater problem than in 1976. The debt-to-GDP ratio then was just under 50 per cent while today it is approaching 100 per cent. An ageing population imposes an ever-increasing welfare burden while the government urgently needs to increase defence spending.  “And this time around, there is no deus ex machina to match North Sea oil unless you believe in AI miracles. So today’s Healey faces tough choices in pursuit of growth and stable public finances.” Unfortunately, the access to the full article requires subscription .

When racism peaks

Interference and collaboration to deal with protests

An interview with Chris Kaspar de Ploeg

How organised crime took over Arab communities — and why it reveals the contradictions of Israeli state power. Related A powerful group of Palestinian capitalists are profiting off occupation.

“More than 2,000 British nationals served in the Israeli military during its genocide in Gaza, according to new data published by  Declassified UK .” The largest cohort comes from the US.

 After genociding between 70,000 and 100,000 Palestinians, genociding reality and history is essential .

What does normative Buddhism have to say about capitalism, obscene inequality, commodification of everything, exploitation…? Normative Buddhism—the core, scriptural teachings found in early texts like the  Pali Canon —does not directly use 19th- or 20th-century political terms like "capitalism". However, it contains a clear, systematic critique of the exact psychological and social mechanisms that drive global capitalism:  insatiable greed ( lobha ), institutionalized craving ( tanha ), and the exploitation of living beings .  [1, 2, 3]  Normative texts address these systemic issues through a distinct ethical framework: 💡 1. The Core Critique: Institutionalised Craving ( Tanha ) Modern economic systems rely on advertising and culture to fuel an ever-growing desire for consumption, a dynamic that normative Buddhism directly diagnoses as the root cause of human suffering ( dukkha ).  [2, 3]  The Delusion of "More":  The  Mahanidana Sutta  outl...

Berlin has long been a hotbed for working-class organizing and radical left-wing politics .

In the two recent local elections in Germany there was a clear 10 percentage point gender gap, with men more likely to vote for the AfD and women more likely to vote for left and centre-left options. Any comparison with other elections in Europe? Yes, the "modern gender gap"—where men lean toward the far-right and women support left or center-left parties—is a well-documented phenomenon across Europe.  This division is particularly acute among younger generations (Millennials and Generation Z). Data from the  European Election Studies (EES)  reveals that across the EU,  21% of men under 30 supported a far-right or right-wing populist party, compared to only 14% of young women .  [1, 2, 3, 4, 5]  The table below illustrates how the gender gap manifests in specific European countries: Cross-European Gender Gap Comparison Country Far-Right Trends (Men) Left / Centre-Left Trends (Women) Context & Dynamics Sweden Strong support for the far-right  Sweden...