Marxist views of the relationship between financial and real cycles suffer from three major weaknesses: (a) financial developments are almost always reactions to real sector developments; (b) financial crises can trigger but not cause real sector crises; and (c) the 2008 financial crash played...

Despite the impressive rebounding of the U.S. economy from the long contraction of the 1970s, a number of radical political economists seem to be dismissive, oblivious, or in denial of this significant turnaround. To the extent that they reluctantly acknowledge the recovery, they immediately add...