Russian Hacking
The newspapers and TV, yesterday, were full of stories about Russian hackers stealing secrets from British labs working on coronavirus vaccines. The…
OBR Report Shows We Are Headed For Rising Interest Rates, a Financial Crash, and Inflation
In its latest Fiscal and Sustainability Report, the OBR notes that the Public Sector Borrowing Requirement (PSBR), or what it now calls public sector…
Sunak's Hors D'Ouvres
Sunak's budgetary offering yesterday was an irrelevant sideshow. The amounts of money involved were tiny compared to the problems created by the…
Post Covid Prices and Revenues - Revenues - Profit of Enterprise
Profit of Enterprise
Surplus value/profit falls because the value of labour-power rises, as costs rise due to falling productivity, as a result of me…
Post Covid Prices and Revenues - Revenues - Interest and Rent
Interest and Rent
Interest
I've already set out why interest rates are set to surge, as massively increased borrowing meets falling realised prof…
Post Covid Prices and Revenues - Revenues - Wages
Revenues Wages
Wages are the phenomenal form of the value of labour-power. They appear, on the surface, as the market price of labour. Like every oth…
Post Covid Prices and Revenues - Interest Rates
Interest Rates
The first manifestation will be from interest rates, because increases in money supply take around two years to feed through into high…
How The Left Should Have Responded To Covid19 - Part 3 of 3
So, what would a rational socialist government have done, and what should the labour movement have been arguing. Firstly, a socialist government woul…
Post Covid Prices and Revenues - Lockdown
Lockdown
The lock down of social activity has caused an economic slowdown far greater than was provoked by the 2008 financial meltdown. It is the big…