by Tom Walker Econospeak Book proposal: Marx’s Fetters and the Realm of Freedom: a remedial reading — part 2.6 From sufficiency to planned obsolescence… and back? In the Grundrisse, Karl Marx argued that capital’s response to the barrier to increasing production posed by satiated consumption took three paths: promoting greater consumption of existing products, expanding […]
Extending Capital to Nature, Reducing Nature to Capital The Biden administration has announced it is inaugurating a program to incorporate the value of natural resources and ecological services into national income accounts. The New York Times article reporting this development predictably portrays the response as divided between two camps: on the one side are environmentalists, who think […]
Financial Times takes a look at the question of how high profit margins are obtained in a high unemployment and high debt economy: The key to the first question is US profit margins, which are still at or around record highs. At some point, logic suggests they will start reverting to the mean. And, aside […]