THE SYSTEM IS BROKEN

Michael Roberts 12/25/16
thenextrecession.wordpress.com/2016/12/25/the-system-is-broken/
The system is broken

...

...

...

Merry xmas!
sorry I haven't been posting these regularly, a lot of articles have been of less relevance lately I think

...

stop worshiping markets

did Hegel accept markets as necessary or what?

markets are unknowable and completely irrational, ergo planned economics is the future!

walmart is the largest centrally planned economy in the world, larger than many small countries. A small socialist country could do exactly what walmart does (look at trends of previous consumption) and plan based on that. If you think bottom level price signals are SOO important just take indications based on countries you trade with. All vertical monopolies are centrally planned economies using money and bottom level price signals. That's basically what the few centrally planned socialist economies did.
also that statement isn't contradictory unless you think a centrally planned (decentralized planning is a thing too btw) socialist economy is a market controlled by the government. which it isn't

I was agreeing with you pleb, I don't support market socialism and its variants.

lol wut?

Socialism in 2017

Whence meaning?

who said central planning under capitalism?

people act irrationally within markets? not a hard thing to grasp unless you're a lolbert whose never actually read about real economics studies
people act irrationally in the market ALL THE FUCKING TIME
herd mentality mostly. And the contradiction between exchange value and use value. and fictitious capital

thanks for the input my dude

Central planning in today's world will be a massive partially omniscient supercomputing cluster, probably integrated with the security state. Do you really trust Skynet to be:
A. Free from cypherpunk ancap hax
B. Not spontaneously conscious and immediately hostile, or at least some kind of algorithmic ultra-tyranny?

you were literally citing wallmart as successful centrally planned economy.

1. businesses and much of market decisions are based on big data already. data engineers probably have more effect on business than so called entrepreneurs and managers. Especially that whole stock trading thing.
2. there are no cyberpunk ancaps, and I think hacking is primarily done by nation-states at this point
3. central planning doesn't require strong AI, and if we had a strong AI we wouldn't need central planning because all human labor would be obsolete

I'm just saying it's possible for corporations, which are controlled "democratically" by shareholders and board members, to organize huge amounts of labor and capital through pre-planned contracts of remuneration and units to be produced, without each producer being in a market of producers competing and bargaining within the structure. and planning for how much is produced is based on how much was consumed in the previous quarter.

yes of course its possible, and it would also happen under market socialism to about the same extent it happens under capitalism. but such an organization of production isn't efficient or desirable in every situation.

just ask the employee or customer of any major corporation.

Jesus Christ

appreciate your addition to the discussion

I was hoping this thread would be more about how mainstream economics has no fucking idea why capitalism is in a long depression
austerity didn't solve the looming debt crisis, or restore "confidence" and QE did nothing for actual investment

...

have a very spooky chirstmas!

poast more sluts

...

WORSE THAN AUSTRIAN FAGS

TL;DR for anyone?

Source? Michael Roberts is a retard, but Marx predicted the collapse of the gold standard in the Grundrisse.

Roberts is based

no bourgeois economists can figure out what's wrong with the world economy

No he isn't. You can't calculate the rate of profit in a "Marxist way" when we don't use commodity money.

To be fair though, even though I think he misunderstands Marxism I enjoy reading his analysis of things.

please elaborate
why does currency being fiat make a difference, he claims that easy access to loans doesn't effect the rop