Capitalist Crisis Would Come With or Without the Coronavirus

Capitalists, ignorant of the workings of their own system, like to imagine that their economy would by just fine if it wasn’t for the coronavirus. As usual, whenever capitalism is in trouble mainstream economists fall all over themselves looking for causes outside of capitalism that explains the crisis. But as Michael Roberts points out, throwing money at financial institutions will not solve their problems in the long run. Real material productivity around the world is down and this is the real economy.