[Marxism] Michael Roberts on stock market volatility

John Reimann 1999wildcat at gmail.com
Fri Oct 26 10:00:28 MDT 2018


Michael Roberts, foremost Marxist economist, on the stock market volatility.
https://thenextrecession.wordpress.com/2018/10/25/correction/

A couple of things to point out:

1) As Roberts says, Trump's tax cuts did help increase the economic
expansion. The cuts helped raise profits, which did moderately stimulate
economic growth. Even though it's true that most of the money saved went to
stock buy-backs and things like that, some of it did go into the real
economy.
2) The (slow) increase in wages is, in fact, tending to destabilize the
economy. That's because increased wages cut into profits, which causes the
capitalists to be less willing to invest.
3) What all of this means is that for the economy to grow, workers have to
suffer.

John Reimann



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