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...

This paper puts forth (and documents) an argument that the escalating US military spending at the expense of non-military public spending is steadily undermining the critical national objective of public-capital formation (both physical and human) and that, if not stopped, the resulting trend...