The Long Depression: How It Happened, Why It Happened, and What Happens Next
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FEATURING MICHAEL ROBERTS – The White House published new estimates on Friday that showed slower than expected economic growth and interest rates. It also expected the government’s deficit to rise. In the years after the Great Recession hit in 2008, economic forecasts have struggled to make sense of why corporate profits are up but wages have remained stagnant. Today we turn to British Marxist economist, Michael Roberts who has examined aggregate empirical economic data and determined that the world economy is in a “long depression.”
Michael Roberts worked as an economist for over thirty years in the City of London financial center. He is author of The Great Recession: A Marxist View (2009). His new book is called The Long Depression: How It Happened, Why It Happened, and What Happens Next.