@KippesRA@MattPolProf No, you're right. Marx critiqued pol-econ's LToV which was really a labor theory of wealth based on a priori concepts. The book Capital was his argument that the LToV (not wealth) was part and parcel of the unfolding of the commodity form.
the central banks are getting increasingly desperate so they'll take increasingly drastic measures, some coordinated, to contain this financial panic, but it's no Bretton Woods III; BW was a planned framework, this is just haphazard blundering from one crisis to the next
Jesus, Larry Summers comes off in this interview like somebody who hasn’t spent much time thinking about economics or the consequences of his own policy prescriptions
This piece has it backwards: it is in the absence of productive growth, which the UK struggles to generate for a variety of structural, macroeconomic and political reasons, that zero-sum transactions increase and rent-seeking becomes the default income strategy.
There are almost 14 million people in poverty, over 700,000 workers on strike, over 2,500 foodbanks, warm hubs, a punishing social ‘security’ system. The list of suffering is endless and this is the response from the Labour Party. Shameful.