#037 Profits, Cycles, and Breakdown

This week we are joined by the renowned Marxist economist Michael Roberts. Michael predicted the whole economic and social crisis we now find ourselves in, years before it occurred. He is a working economist in the city of London, and the author of the book ‘The Great Recession’, which gives his Marxist analysis of the current crisis. You can read his prolific writings over on his excellent blog, ‘The Next Recession’.We discuss the key differences between Keynes and Marx, Keynes' class consciousness and ideology, Kondratieff waves and profit cycles, capitalism killing robots, the breakdown theory of Capitalism, and the possibility of a final permanent crisis.You can find his blog here:http://thenextrecession.wordpress.com/And his book here:http://www.amazon.co.uk/The-Great-Recession-Michael-Roberts/dp/144524408XEnjoy!