Archive | January, 2018

Schumpeter’s theory is interesting for several reasons. It was formulated at the same time as Lenin’s and Luxemburg’s and clearly with the knowledge of the two. It reacts to the exactly the same events as theirs. It is different though and it was held by Schumpeter throughout his life. The key text for Schumpeter’s theory is “The sociology of imperialisms” (note the  plural) published in 1918-19.

In this article I wish to make a simple claim: 20th century advertising is the most powerful and sustained system of propaganda in human history and its cumulative cultural effects, unless quickly checked, will be responsible for destroying the world as we know it. As it achieves this it will be responsible for the deaths of hundreds of thousands of non-western peoples and will prevent the peoples of the world from achieving true happiness.

We’ve made it through 2017. The first-season installment of presidential Tweetville is ending where it began, on the Palm Beach, Fla., golf course of Mar-a-Lago. Though we are no longer privy to all the footage behind the big white truck, we do know that, given the doubling of its membership fees, others on the course will have higher stakes in the 2018 influence game.

Since the outbreak of mass demonstrations and unrest in Iran last week, U.S. media have mostly busied themselves with the question of not if we should “do something,” but what, exactly, that something should be. As usual, it’s simply taken for granted the United States has a divine right to intervene in the affairs of Iran, under the vague blanket of “human rights” and “democracy promotion.”

The Last Jedi, the eighth episode of the legendary Star Wars series, has been out for less than 10 days but already boasts well over $650 million in revenue from the box office.

When e-commerce monolith Amazon introduced the Key in October, it was the latest in a series of innovations aimed at making our lives more user-friendly. Available exclusively to subscribers of Amazon Prime, the Key system—which consists of a programmable smart lock for the front door of one’s house, and a high-definition camera mounted nearby to record the activity of those who come and go—allowed users to have “Amazon packages securely delivered just inside your front door,” as opposed to having those purchases left on a front porch or in a mailroom.

The 21st century has already welcomed back Karl Marx (1818-1883), rather on the assumption that he had faded away and has now returned to haunt us. After the financial crashes of 2008, his leonine face appeared on international news magazine covers, feature articles in quality broadsheets, TV documentaries and blogposts. The questions Why now? and Why Marx? are easily answered: capitalism suddenly appeared unstable, unmanageable, dangerously fragile and anxiously threatening.

A New York Times headline screams “As Venezuela collapses, children are dying of hunger.” Lurid pictures show dead infants. A companion “article of the day teaching activities,” asks: “Why do some young children choose to live on the streets instead of at home with their families?”

MISHA GLENNY’S new series McMafia was launched on BBC TV on New Year’s Day. It is an appropriate if depressing opener for the new year.

Comrades 2017 was a year where the global crisis of capitalism deepened. Just like the 2008 global financial crisis, capitalism demonstrated once more that it has failed humanity and has no solutions for problems that are confronting society.

People tend to have a distorted picture of U.S. capitalism’s operation, believing that the great majority of Americans are doing well, benefiting from the system’s long-term growth and profit generation. Unfortunately, this is not true. Median wealth has been declining, leaving growing numbers of working people increasingly vulnerable to the ups and downs of economic […]

The U.S. State Department has endorsed the outcome of the November 26 elections in Honduras, which was surely the most farcical electoral process in recent history.

Colin Barker of Manchester rs21 introduced a panel discussion to launch the book Social Reproduction Theory: Remapping Class, Recentering Oppression at the recent Historical Materialism conference in London . We reproduce Colin’s presentation here.

Interview with John Bellamy Foster, Editor of Monthly Review. By JIPSON JOHN and JITHEESH P.M.

1968 – 50 years ago – was the highpoint of the radicalism that had been sweeping the globe through the mid-60s from Belfast to Berlin, from Mexico to Melbourne, from Paris to Prague. It was a year of revolution and repression, of struggle and solidarity, of wild optimism and crushing defeat.

After the Global Financial Crisis, Steve Keen achieved worldwide acclaim with his book Debunking Economics (2011). It attacked the core tenets of neoclassical economics and some of its heterodox rivals. It also revealed Hyman Minsky’s post-Keynesianism as the most promising route to a scientific revolution in economics.

My father was a socialist, who participated in the Resistance against the Nazis. My mother leaned more towards anarchism. My first philosophy teacher, Jean Paul Sartre, was a fellow traveller of the French Communist Party. When I was a teenager, there was a terrible colonial war in Algeria and I stood up against it. When I was 30, May ‘68 happened, a huge movement of young people and workers. In short, my entire education led me towards politics in its revolutionary and communist form.

In announcing his long-avoided royal commission into banking, Malcolm Turnbull said that “it will not put capitalism on trial”. What a shame!

We live in one of the darkest moments in American history,” Cornel West begins his new introduction to the 25th-anniversary edition of Race Matters, published on December 5, 2017.