Archive | Commentary

The next time someone tells you that Marx or Marxism is outdated because capitalism is not as exploitative as it was in the 19th century, just crack open your copy of Capital, turn to the chapter on the working day, and compare its vivid depiction of the brutalization of the British working class to the […]

Iran’s Central Bank announced that the annual inflation rate has dropped below 10%, so it may seem like an odd time to talk about how rising inflation might affect Iran’s poor.  But if the government implements the subsidy reform law, as it has promised to do in the second half of this year (Iranian year […]

The deficit hawks have been working themselves into a frenzy in recent weeks over the prospect that the country will come out of the recession with a huge debt.  They have convinced much of the policy elite (admittedly, a very gullible crew) that the United States is on the edge of becoming Greece, unable to […]

The thunderous events set in motion by Israel’s storming of the Mavi Marmara, the lead ship in the peace flotilla challenging the blockade of Gaza, have thrown important light on the overall situation in the Middle East.  Turkey has emerged as the major protagonist among the forces that support the Palestinian cause.  This is extremely […]

  Ah, these lazy, hazy, crazy days of summer.  Fish are jumping (except if they happen to be in the Gulf of Mexico) and the cotton is high.  And Israel prepares to bomb-bomb-bomb Iran, under clear and sunny Saudi skies — at least according to the London Times. Hugh Tomlinson’s June 12 piece in the […]

There is a remarkable consensus among economists of all ideological and political persuasions — conservative, liberal, and radical — that capitalist economies must grow to be healthy, and that the key to growth lies in the capital accumulation or savings-and-investment process. Accepting this view, we have long been arguing in effect that capitalism, like living […]

General strike, benefit cuts, pension freezes, starvation, wars?  Crisis, what crisis? Repeat after me: We Can Win the World Cup!  We Can Win the World Cup!  We Can Win the World Cup!  We Can Win the World Cup!  YES WE CAN! Juan Kalvellido, born in Cádiz, Andalucía, Spain in 1968, is a working-class cartoonist who […]

  The Fine Old English Gentleman New Version (To be said or sung at all Conservative Dinners) I’ll sing you a new ballad, and I’ll warrant it first-rate, Of the days of that old gentleman who had that old estate; When they spent the public money at a bountiful old rate On ev’ry mistress, pimp, […]

  . . . Mir Hossein Moussavi and Mehdi Karroubi, de facto leaders of the Green Movement, had issued a statement on June 10 asking their supporters to stay home. According to Fars, a semi-official news agency with intimate ties to the Islamic Revolutionary Guards Corps, Moussavi and Karroubi were afraid of low turnouts and […]

On Tuesday, June 8, I wrote the Reflection “On the Threshold of Tragedy” around midday; later I watched Randy Alonso’s “Roundtable” television program, broadcast at 6:30 p.m. as usual. That day, the eminent and distinguished Cuban intellectuals taking part in the Roundtable replied to the program director’s acute questions with eloquent words which greatly respected […]

  . . . Public debt levels as a share of GDP declined substantially in the Latin American region during the five years preceding the great global crisis of 2008 and 2009.  Data available for the largest seven countries in the region (LAC-7)1 show that the ratio of total public debt to GDP fell from […]

Excerpt: In contrast to the stable average stocks of debt, the composition of these debt stocks (by lender, currency and location) have changed visibly over the last 15 years. By lender: private lending shifted from bank- to bond-based (private lending), while official lending moved from bilateral to multilateral.  On the other hand, in contrast with […]

Since manufactured claims about Iraqi WMD led the United States to invade Iraq in 2003, no analytic line about developments in the Middle East has had a bigger impact on American foreign policy than the assertion that the outcome of Iran’s June 12, 2009 presidential election — held one year ago tomorrow — was a […]

  Excerpt: . . . Finally, there are concerns about the chronic problems faced by the Bolivian government to manage such an ambitious program — problems that pre-date President Morales.  To pull off its lithium ambitions, Bolivia will need highly trained and qualified experts, in the technical and scientific aspects of lithium, in business management […]

  The Israeli raid on the Gaza flotilla that resulted in the deaths of eight Turkish citizens and one Turkish-American has led Israel and its supporters to argue (see The Weekly Standard, 5/31/10) that the Turkish government and a prominent Turkish humanitarian organization are “terrorist” sympathizers with ill intentions toward Israel and the United States. […]

  Did you ever accept Keynesian economics, or did you go beyond Keynesian economics and feel his approach had lost the essence of what the problem was? One thing you should understand is that Keynesian theory permits an enormous variation in political and ideological positions.  Later on what Joan Robinson came to call Bastard Keynesianism […]

If it were set in, say, Manhattan, Kansas, it would be a spectacular sight: a twisting, shimmering 51-story tower of glass. As it is, though, it doesn’t stand out in Midtown Manhattan, New York — a stylized office tower, topped by a harpoonish spire. In short, another glass office building that screams “architecture” while exuding a vague and somewhat threatening sense of private power.

  Colin Leys is an honorary professor of politics at Goldsmiths College London, who has worked in the UK, Africa and Canada.  He was until recently the co-editor of Socialist Register.  One of Colin’s books is Market-Driven Politics.  A week before the UK general election Edward Lewis spoke to him about some of the themes […]

  We are a group of German Jews who want to send a ship with not only daily necessities but also musical instruments to Gaza.  We are acquiring a ship, loading it up in Germany, and then picking up passengers (Jewish and non-Jewish, German and non-German) at a Mediterranean port. Among the goods to be […]

The United Nations Security Council approved a resolution calling for new sanctions against Iran today.  Wait, did you just yawn?  Pay attention, there’s real news here.  The man-bites-dog story is that two countries — Brazil and Turkey — voted no, while Lebanon abstained. That’s a record.  There’s never been more than one no vote before; […]