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Site URL: thenextrecession.wordpress.com/blog
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Posts: 11
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250 YEARS: The United States – from independence to empire
Published: July 3, 2026 15:02
Part One: the revolution On the 4th July 2026 it will be 250 years since the 13 British colonies in North America declared independence from the British colonial power at a congress in Philadelphia. Since independence, the United States of America, as it…
Summer books: trade wars, billionaires and global warming
Published: June 30, 2026 10:49
Here are reviews of a few books that I could not ignore analysing this summer. Let’s start with How to win a trade war by Soumaya Keynes and Chad Bown. Keynes, an ancestor of the John Maynard, formerly wrote for the Economist and now for the Financial…
Iran and the US: a ceasefire that lasts?
https://thenextrecession.wordpress.com/2026/06/23/iran-and-the-us-a-ceasefire-that-lasts/
Published: June 23, 2026 09:39
Financial markets and the world in general let out a sigh of relief when Iran and the US finally agreed a 14-point Memorandum of Understanding (MoU) that, if impemented fully by the middle of August, would end the war in the Middle East and allow crude…
A Marxist Theory of Crisis in the Contemporary World
Published: June 13, 2026 05:55
This is an English translation of an interview published in Chinese by the Chinese Academy of Social Sciences in 2025 in World Socialist Research. 1. Michael Roberts, thank you for your time! Could you briefly tell us when you got to know and accept…
Solving the ‘economic problem’
https://thenextrecession.wordpress.com/2026/06/09/solving-the-economic-problem/
Published: June 9, 2026 12:45
Last weekend, the World Inequality Lab (WIL) organised the third edition of its World Inequality Conference, held at the Paris School of Economics. The WIL hosts and maintains the World Inequality Database, the open-access database on global inequality.…
AI: just one big trade
https://thenextrecession.wordpress.com/2026/06/06/ai-just-one-big-trade/
Published: June 6, 2026 11:05
Goldman Sachs, the mega investment bank, reckons that AI is just “one big trade on the US economy”. And the AI investment bubble is getting even larger. In the last week, the AI model maker, Anthropic, announced that it was issuing shares to potential…
Global profits: an upward turn?
https://thenextrecession.wordpress.com/2026/06/02/global-profits-an-upward-turn/
Published: June 2, 2026 06:58
At the end of 2025, corporate profits in the major economies accelerated after stagnating in 2024. The global figure below is calculated from a weighted (by GDP) average of profits in the US, UK, Japan, Germany and China (taken from national accounts and…
Edmund Phelps: free markets and inflation expectations
Published: May 25, 2026 16:59
American Edmund Phelps recently died at the age of 92. Phelps was a classic free market mainstream economist from the monetarist school and winner of the 2006 Nobel Memorial Prize in Economic Sciences (the Riksbank prize in reality). Phelps researched and…
The Thucydides trap and the decline of US imperialism
Published: May 19, 2026 14:55
On the first day of talks during US President Donald Trump’s recent state visit to China, his host China’s Xi Jinping invoked the so-called “Thucydides trap” to warn against any war beween the two superpowers that now dominate the world economic and…
Trump meets Xi: US v China
https://thenextrecession.wordpress.com/2026/05/12/trump-meets-xi-us-v-china/
Published: May 12, 2026 16:02
US president Donald Trump travels to China to meet China’s President Xi Jinping tomorrow, It will be the first time a US president has visited China in nearly a decade, with the last visit being Trump in 2017. The immediate issues before both leaders can…
India: a further swing to the right
https://thenextrecession.wordpress.com/2026/05/08/india-a-further-swing-to-the-right/
Published: May 8, 2026 07:34
In the recent state elections in India, the ruling BJP-led coalition government won resounding victories in some key states previously held by opposition parties. In the highly populated West Bengal, Mamata Banerjee, India’s most powerful female…