How Real Estate Credit Bubbles Lead to Crisis

How is finance killing the economy? Credit is a powerful tool of capitalism. It can be used to stimulate economic growth, or it can be used to deter capital investment by shifting money creation into the Finance, Insurance, Real Estate (FIRE) sector. The latter will inevitably cause the economic system to go into crisis. Advertisements

The Legend of King Midas according to Paul Krugman

Ed: A wonderful piece regarding a Marxist view of gold as currency in relation to a parable by Paul Krugman. This is part of a larger post that must be read. I highly recommend subscribing to this blog Critique of Crisis Theory. Paul Krugman writes: “The legend of King Midas has been generally misunderstood…. What…

Critique of Jacob Spinney’s Video On Exploitation

A response to a reactionary video by anarcho-capitalist Jacob Spinney, by Klaas Velija (a good friend and a great teacher of Marxism) http://crushcapital.wordpress.com/2012/10/28/critique-of-jacob-spinneys-video-on-exploitation/ “So what exactly do people mean when they say that workers are being exploited?” Exploitation is defined as “making use of some vulnerability in another person in order to use them to…