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  • Monthly Review Essays

About Michael Roberts

Michael Roberts is the creator and author of Michael Roberts Blog.
  • 1

    Tariffs and the U.S. economy

    Originally published: The Next Recession on August 4, 2025 (more by The Next Recession)  |

    The U.S. has a record high stock market, unlimited spending on AI capacity by the tech giants, along with sharply increased borrowing to pay for it; but no sign yet of any significant revenues or profits from AI—and alongside that: a slowing rest of the economy, a widening trade deficit in goods and increasing unemployment and prices.  All this as we go into the second half of 2025.

  • Katsura Yuki (Japan), An Ass in a Lion’s Skin, 1956.

    Japan: stagnation and confusion

    Originally published: The Next Recession on July 19, 2025 (more by The Next Recession)  |

    Prime Minister Shigeru Ishiba, who heads the LDP, has intensified his rhetoric on issues appealing to conservatives, the core LDP base.

  • dollars and euros background

    Dollar v Euro

    Originally published: The Next Recession on July 4, 2025 (more by The Next Recession)  |

    This week, the world’s major central bankers have gathered in the sweltering heat of Sintra, Portugal (although I am sure the the aircon is good in their swanky hotel in the hills).

  • CLIMA SUPERCOMPUTADO

    From the Rockies to Stockholm: Ignoring the global crisis

    Originally published: The Next Recession on June 16, 2025 (more by The Next Recession)  |

    A significant economic slowdown into stagnation, alongside still relatively high inflation; a crippling debt burden for the majority of the world’s population eking out a bare living; and an accelerating climate crisis—none of these issues will be discussed in the Rockies or in the Grand Hotel in Stockholm.

  • Karl Marx

    150 years since the Critique of the Gotha Programme

    Originally published: The Next Recession on May 6, 2025 (more by The Next Recession)  |

    The Critique was in a short letter written by Marx 150 years ago. In 2025, it remains just as clear and relevant to understanding communism as the alternative to capitalism.

  • 0

    Tariffs, Triffin and the dollar

    Originally published: The Next Recession on April 13, 2025 (more by The Next Recession)  |

    Trump backed down because the bond market was showing signs of severe stress that could lead to a credit squeeze, particularly for hedge funds that own a significant stock of U.S. bonds.

  • 1

    Liberation day

    Originally published: The Next Recession on April 2, 2025 (more by The Next Recession)  |

    It’s not April Fools day (1 April). But it might as well be as later today U.S. President Donald Trump announces another barrage of tariffs on imports into the U.S. in what Trump calls ‘Liberation Day’ and what America’s voice of big business and finance, the Wall Street journal, has called “the dumbest trade war in history.”

  • From welfare to warfare: military Keynesianism

    From welfare to warfare: Military Keynesianism

    Originally published: The Next Recession on March 22, 2025 (more by The Next Recession)  |

    Warmongering has reached fever pitch in Europe. It all started with the U.S. under Trump deciding that paying for the military ‘protection’ of European capitals from potential enemies was not worth it.

  • Elon Musk poses with Javier Milei and Donald Trump [Photo: Elon Musk]

    Trump’s MAGA and deregulation

    Originally published: The Next Recession on Mrch 2, 2025 (more by The Next Recession)  |

    Trump sees the United States as just a big capitalist corporation of which he is chief executive.

  • 1

    A whiff of stagflation

    Originally published: The Next Recession on February 17, 2025 (more by The Next Recession)  |

    The major economies are exhibiting signs of stagflation.

  • 1

    AI going DeepSeek

    Originally published: The Next Recession on January 28, 2025 (more by The Next Recession)  |

    DeepSeek, a Chinese AI company, released an AI model called R1 that is comparable in ability to the best models from companies such as OpenAI, Anthropic and Meta, but was trained at a radically lower cost and using less than state-of-the art GPU chips.

  • 1

    U.S. economy: An exceptional boom or a bubble to burst?

    Originally published: The Next Recession on December 4, 2024 (more by The Next Recession)  |

    Recently, there has been a spate of articles and commentary about ‘U.S. exceptionalism’, namely that the U.S. economy is bounding forward in terms of economic growth, hi-tech investment and productivity, leaving the rest of the world behind.

  • COP 29

    COP-out 29

    Originally published: The Next Recession on November 24, 2024 (more by The Next Recession)  |

    The main issue was how much would the rich countries hand over to the poor countries to pay for the measures to mitigate global warming and handle the damage caused by rising ‘greenhouse gas’ emissions.

  • Daron Acemoglu, Simon Johnson, James A. Robinson awarded Nobel Economics Prize 2024 - India Today

    Why Nations succeed or fail: a Nobel cause

    Originally published: The Next Recession on October 15, 2024 (more by The Next Recession)  |

    Daron Acemoglu, Simon Johnson and James A Robinson have been awarded the Nobel (really the Riksbank prize) in economics “for studies of how institutions are formed and affect prosperity.”

  • Measuring global poverty

    Originally published: The Next Recession on October 8, 2024 (more by The Next Recession)  |

    To track progress towards its goal of eradicating extreme poverty by 2030, the UN relies on World Bank estimates of the share of the world population that fall below the so-called International Poverty Line (IPL).  

  • Marxism and Collapse (M&C)

    Marx’s theory of value: Collapse, AI and Petro

    Originally published: The Next Recession on October 3, 2024 (more by The Next Recession)  |

    A site called Marxism and Collapse (M&C) has conducted a ‘dialogue’ with an AI model called Genesis Zero (GZ) that includes “an expansion and refutation” of Marx’s theory of value.  The human voice (M&C) asks questions and leads the AI model (GZ) into discussing the inadequacies of Marx’s value theory and to reach a new, […]

  • Capitalism IS the Crisis May 25, 2013 March from Union Square to Washington Square New York, NY

    IIPPE 2024: Imperialism, China and BRICS+

    Originally published: The Next Recession on September 9, 2024 (more by The Next Recession)  |

    The countries of the BRICS+ were just as capitalist and imperialist as the imperialist bloc of the Global North, argued Ngawani. 

  • 1

    China’s Third Plenum

    Originally published: The Next Recession on July 24, 2024 (more by The Next Recession)  |

    The Third Plenum is a meeting of China’s Communist Party Central Committee composed of 364 members which discusses China’s economic policy for the next several years.

  • 1

    Tariffs, technology and industrial policy

    Originally published: The Next Recession on May 20, 2024 (more by The Next Recession)  |

    Last Tuesday, the trade and technology war launched by the U.S/.on China back in 2019 took another ratchet up.

  • Vulture Capitalism: Corporate Crimes, Backdoor Bailouts and the Death of Freedom (Bloomsbury 2024)

    Vulture capitalism

    Originally published: The Next Recession on May 8, 2024 (more by The Next Recession)  |

    Grace Blakeley is a media star of the radical left-wing of the British labour movement. She is a columnist for the left-wing journal, Tribune, and a regular panellist on political debates in broadcasting—often the only spokesperson on the left advocating socialist alternatives.

  • 1
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Also By Michael Roberts in Monthly Review Magazine

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  • The Migrant Genocide: Toward a Third World Analysis of European Class Struggle
    Iker Suarez A banner at a memorial rally for victims of the 2014 massacre of migrants at Tarajal, 2021.

    Over 10,000 people died in transit to Spain in 2024 alone.[1] On June 2022, the border fence of Melilla, one of two Spanish enclaves in Morocco, was witness to a massacre that killed or disappeared over a hundred African migrants.[2]  A recent BBC investigation revealed that Greek border guards systematically repeal immigrants already on Greek […]

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    On October 7th, 2012, after hearing of his victory as the nation‘s candidate with 56 percent of the vote, President Hugo Chávez Frias announced from a balcony in his hometown that a new cycle was beginning the very next day, October 8th.

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    Trump says immigrants ‘do it naturally,’ revives racist labor myths
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    Media blame NYC shooting not on Mayor Adams, but on candidate Mamdani
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