Archive | Commentary

  Treasury Sec. Hank Paulson’s $700 billion bailout plan now has a name: the Troubled Asset Relief Program, or TARP.  But even as Capitol Hill debates TARP, few seem to have noticed the proposal item that puts taxpayers on the hook for future bailouts.  It’s in Section 6, and the key phrase is this: “The […]

Capitalism happens.  When and where it does, capitalism casts its own special shadow: a self-critique of capitalism’s basic flaws that says modern society can do better by establishing very different, post-capitalist economic systems.  This critical shadow rises up to terrify capitalism when — in crisis periods such as now — capitalism hits the fan.  Karl […]

Barack Obama, the Democratic presidential candidate, has adopted the rhetoric of change which has captured the imagination of many Americans and non-Americans around the world. But when it comes to the foreign policy, there are enough reasons to remain sceptical.  Will he adopt a foreign policy with objectives which differ from those of George Bush, […]

Faced with the failure of the financial sector and the possible collapse of the economic system, Republicans and Democrats are working together feverishly to come up with a plan and find the funds to save the American financial system.  The Congress that has been unable to provide adequate funding to health, education, housing, public transportation, […]

  The financial sector meltdown spelt an opportunity for the system to reinvent itself. Will the financial sector meltdown in the developed economies lead to a rethink about the path the global economy has traversed in the last few decades? Simply put, will it curb the primacy of finance, will it rein in the penchant […]

  In a statement drafted in scrupulously selected terms and circulated with exceptional discretion, the so-called U.S. Aid for International Development (USAID) has publicly confessed to having squandered taxpayers’ money in its dirty war on Cuba. It did so in the face of warnings by certain scandalized congress members and the embarrassing revelations of audits […]

In US capitalism’s greatest financial crisis since the 1930s Depression, status-quo ideology swirls.  The goal is to keep this crisis under control, to prevent it from challenging capitalism itself.  One method is to keep public debate from raising the issue of whether and how class changes — basic economic system changes — might be the […]

“The West is living through an economic and social crisis so unprecedented in its tempo, so complex in its effects, that there are many who do not know that it is taking place.”                     — Michael Harrington, The Next Left (1987) The nationalization of American International […]

  On September 18, 2008 Human Rights Watch released a report entitled “Venezuela: Rights Suffer Under Chávez.”   The report contains biases and inaccuracies, and wrongly purports that human rights guarantees are lacking or not properly enforced in Venezuela.  In addition, while criticizing Venezuela’s human rights in the political context, it fails to mention the […]

Elegy is a fitting title for Spanish director Isabel Coixet’s recent adaptation of the short novel by Philip Roth, The Dying Animal.  It is a pensive lament for its principal character, who sadly is never fully realized in this work. The film follows the life of sixty-something David Kepesh (Ben Kingsley), a professor and critic […]

Relative calm has returned to Bolivia following a three-week offensive of violence and terrorism launched by the US-backed right-wing opposition denounced by Bolivian President Evo Morales as a “civil coup.” This campaign of terror, centered on the four resource-rich eastern departments (Santa Cruz, Pando, Beni, and Tarija) known as the media luna (half moon), was […]

The past week has been a wild roller-coaster ride in and out of Southern African ruling-party politics, down the troughs of world capitalism, and up the peaks of radical social activism.  Glancing around the region and world from those peaks, we can see quite a way further than usual. Looking first to South Africa, Saturday’s […]

A new crisis of capitalism, in the style of 1929.  The theories of casino capitalism are confirmed.  The US government contradicts itself again and heavily intervenes, demonstrating that its confidence in the market isn’t as great as its propaganda displayed.  Neoliberal capitalism spills its guts, and the theories of the Left — Keynesian or anti-capitalist […]

Virtually the only certainty in the current financial situation is that there will be more problems ahead.  Those who controlled the levers of economic and financial policy neglected their greatest responsibility, which was to ensure an orderly financial market and prevent exactly the sort of collapse that we are now seeing.  This was a policy […]

It would be a mistake to underestimate the importance of the agreement on September 8 between Nicolas Sarkozy of France in his capacity as current president of the European Union (EU) and Dmitri Medvedev, President of Russia.  It marks the definitive end of Act I of the new world geopolitical order. What was decided?  The […]

If the United States manages to unleash a civil war in Bolivia, the plan is to extend it throughout the region and to resort to massive and extensive use of violence to regain ground, said Luis Bilbao, director of Revista América XXI, in an interview with Ernesto Villegas (via satellite) for the VTV program “Mediodías […]

  Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review.  Its September 2008 issue features the following editorial. — Ed. We know that the immediate future holds the certainty of severe climate change, and an ever increasing strain on not only the much publicised issue of reserves of […]

While taking a significant toll on public revenues,1 repayment of the public debt has, since 2004, ceased to be a major concern for most middle-revenue countries and for raw material-exporting countries in general.  In fact the majority of governments of these countries are having no trouble finding loans at historically low interest rates.  However, the […]

The graphic above is based on David Bacon, “Workers Overcome Divisions after Mississippi Raid,” TruthOut, 8 September 2008. For information on how to support the workers in Laurel, go to . Andy Pollack blogs at . | | Print

  September 17-25 www.greatrehearsal.org 1968 was a world revolution.  From Mexico City to Tokyo, Paris to Prague, Columbia University to Berkeley, it was a revolutionary event that at once failed and transformed the world. The process it put into place continues today.  1968, the long ’68, altered fundamental balances of power and set the stage […]