Michael Roberts works in the City of London as an economist. He has closely observed the machinations of the global financial system from the dragon’s den. He has been a follower of the Marxist view of society for over 40 years. This is an intreview released on the occasion of M. Robert’s new book appearing on the market — ‘The Great Recession’ — where he deals with the problem of the current economic crisis. He tunnels beneath the available statistics and extracts the Marxist categories in it. His main emphasis is on the tendency of the rate of profit to fall. The book is available HERE.
PART 1 *** The Great Recession took place between 2007 and 2009, Michael Roberts provides a Marxist analysis of the causes and consequences of the worst recession since 1929-1932. He has carried out a study of the profit rate data for the world’s major economies over 100 years. His book provides a unique and fascinating survey of the modern world and the forces shaping its fate.
PART 2 *** Michael Roberts continues his assessment of the cycles of the world economy, dealing with specific cycles and their combination. He discussed the application of modern data on the major economies in relation to Marxist methodology based on profit and investment cycles.
PART 3 *** The difference between productive and unproductive investment for capitalist development and what is the role of new industries where the costs of replication fall to zero?