Articles by Ismael Hossein-Zadeh

We found 4 results.

Marx on Financial Bubbles: Much Keener Insights than Contemporary Economists
Ismael Hossein-Zadeh - CounterPunch, 4 Jul 2016

I will argue in this essay that, in fact, a careful reading of Karl Marx’s work on “fictitious capital” reveals keen insights into a better understanding of the instabilities of today’s financial markets.

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Financial Oligarchy vs. Feudal Aristocracy
Ismael Hossein-Zadeh and Anthony A. Gabb - CounterPunch, 22 Feb 2016

On oligarchies and aristocracies. The Marxist term wage-slaves refers to those who, lacking capital or means of production, have only their labor power to sell to make a living. This describes the vast majority of people in today’s capitalist societies whose sole means of subsistence is the sale of their capacity to work.

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Class Interests as Economic Theory
Ismael Hossein-Zadeh – CounterPunch, 17 Nov 2014

Mainstream/neoclassical economists failed miserably to either predict the 2008 financial implosion, or provide a reasonable explanation when it actually arrived. Neoclassical economics has created more confusion than clarification, more obfuscation than elucidation. Economic “science” has, indeed, become “an ideological construct which serves to camouflage and justify the New World Order”

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The Death Grip of Neoliberalism – Keynes Is Dead; Long Live Marx!
Ismael Hossein-Zadeh - CounterPunch, 1 Sep 2014

Marx characterized capitalism’s ability to create a big pool of the unemployed (in order to create a poor and meek working class) as “immiseration” and submission of labor force—a built-in mechanism that is essential to the “general law” of capitalist accumulation: It follows that in proportion as capital accumulates, the lot of the labourer must grow worse.

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