The Chinese central bank’s decision last week to let the yuan depreciate, in three stages by almost 4 percent against the US dollar, was officially explained as a move towards greater market determination of its exchange rate. Though this explanation pacified stock markets around the world, China’s devaluation of the currency portends a serious accentuation […]
Geography Archives: Americas
South America, Central America, United States & Canada
Courts Dismiss Claim That Amnesties Trigger Migration
On August 14 a federal appeals court dismissed as “speculation” one of the most persistent of the anti-immigrant right’s many fantasies: the claim that any sort of humane treatment of undocumented immigrants by the U.S. government will lead inevitably to a “flood” of foreigners pouring over our borders. At issue was a suit in which […]
The Young Lords Retake NYC, With a Little Help from Johanna Fernández
For five years, Johanna Fernández, history professor at Baruch College, worked to set up three separate art installations around New York City, one of which she curated. She worked without funding, to tell the story of the Young Lords, a 1960s, mostly Puerto Rican, street gang that morphed into a revolutionary action group inspired by […]
Behind Puerto Rico’s Debt, Corporations That Drain Profits from the Island
The Phenomenal Drain of Profits Beginning in the 1970s, Puerto Rico’s economy began to suffer a drain of profits, to the point where the measure of total income produced in the island, the Gross Domestic Product, began to separate dramatically from the measure of income that residents own, the Gross National Product or GNP. […]
The Liberals and Inequality, Then and Now
Articles on income equality sometimes note that the U.S. economy hasn’t faced the current level of disparity since 1928, on the eve of the Great Depression. There has been much less discussion of the responses to the issue back then, even though income inequality was a major concern for policymakers as the Depression deepened and […]
Why Greece Doesn’t Matter
We have to stop talking about Greece. What must emerge from the calamity of SYRIZA-ANEL is a renewed call for democracy. There is a scene in the 1972 political satire The Candidate where Robert Redford looks at the camera and quietly says, “Politicians don’t talk, they make sounds.” For the past five years Greece […]
Vulliamy and Hartmann on Srebrenica: A Study in Propaganda
In their recent article on “How Britain and the US Decided to Abandon Srebrenica to Its Fate” (Observer, July 5, 20151), Ed Vulliamy, a veteran reporter for the Guardian and Observer newspapers, and Florence Hartmann, a reporter and former spokesperson for the Office of the Prosecutor at the International Criminal Tribunal for the Former Yugoslavia […]
The Spectre of the Thirties
The Reserve Bank of India, as is to be expected, has been denying that its governor Raghuram Rajan had ever suggested that the world was facing the possibility of a 1930s-type Great Depression. Members of the “global financial community” are not supposed to say such things; so even if Dr Rajan did, a denial was […]
The Book Is a Weapon
The theme of the following talk, delivered at the Filven, Venezuela’s International Book Fair, in Caracas on 8 November 2008, is central to The Socialist Imperative: From Gotha to Now, published by Monthly Review Press this month, available soon in bookstores. The theme of this book fair, “the book in the construction of Bolivarian socialism,” […]
Glory to the Lucid Courage of the Greek People, Facing the European Crisis
The Greek People are an example to Europe and the world. With courage and lucidity the Greek people have rejected the ignoble diktat of European and international finance. They have won a first victory by affirming that democracy cannot exist unless it knows how to put itself at the service of social progress. They have […]
ΟΧΙ!
For some in other lands and continents Greece may seem distant and marginal, a few narrow peninsulas and scattered archipelagos jutting out of the sea. Some may vaguely recall school knowledge about it. “Didn’t some fellow named Prometheus steal fire from the gods? Or was it Alexander the Great untying some “Gordian knot”? Or a […]
A Doctor’s Degree at 102
102-year-old Ingeborg Syllm-Rapoport receives diploma 77-years after Nazis denied it http://t.co/KBB4iyTPfo — Ruptly (@Ruptly) June 9, 2015 The frail, white-haired little lady stepping slowly up onto the stage of the Babylon cinema theater in Berlin — to giant applause — was not wearing a collegiate cap and gown. But she had undoubtedly made academic history. […]
Unending Hard Times: Whose Is the Toil and Whose Is the Wealth?
John Bellamy Foster and Robert W McChesney. The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China. New York: Monthly Review Press, 2012; Kharagpur, India: Cornerstone Publications, 2013. pp x + 227. Rs 150. The secular decline of decadal average annual real gross domestic product (GDP) growth rates of the […]
Marta Harnecker on New Paths Toward 21st Century Socialism
Introduction by Richard Fidler Among the many panels and plenaries at the Conference of the Society for Socialist Studies, which met in Ottawa June 2-5, was a Book Launch for Marta Harnecker’s latest English-language book, A World to Build: New Paths toward Twenty-First Century Socialism (translated by Federico Fuentes), Monthly Review Press. The featured speaker […]
Marxism, Ecological Civilization, and China
China’s leadership has called in recent years for the creation of a new “ecological civilization.” Some have viewed this as a departure from Marxism and a concession to Western-style “ecological modernization.” However, embedded in classical Marxism, as represented by the work of Karl Marx and Frederick Engels, was a powerful ecological critique. Marx explicitly defined […]
Changing Captains on the Left
Wealthy, powerful heads of state and other bosses high up in the Bavarian Alps, and the vigorous protests from opposing crowds kept out of earshot downhill, largely stole media thunder this past weekend. Far lower in altitude and attention, with almost no thunder from the media or otherwise, another meeting was held in less scenic […]
The Declining World Foreign Exchange Reserves
If one adds up the foreign exchange reserves of all the countries in the world, including under the term “reserves” what these countries hold in the form of gold, US dollars, other reserve currencies, Special Drawing Rights of the IMF, and also liquid assets such as short-term Treasury Bills of the US government, then the […]
It’s Capitalism, Stupid!
Global capitalism is the 800-pound gorilla. The twin ecological and economic crises, militarism, the rise of the surveillance state, and a dysfunctional political system can all be traced to its normal operations. We need a transformative politics from below that can challenge the fundamentals of capitalism instead of today’s politics that is content to treat […]
Hijacking the Anthropocene
“When I use a word,” Humpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean — neither more nor less.” — Lewis Carroll, Through the Looking Glass What can lobbyists do when science contradicts their political messages? Some simply deny the science, as many conservatives do with climate […]
Dissecting the Failure of Soviet “Socialism”
Michael A. Lebowitz. The Contradictions of “Real Socialism”: The Conductor and the Conducted. New York: Monthly Review Press, 2012. 222 p. In current discussions of twenty-first century socialism, the work of Michael Lebowitz has a unique merit: it is rooted in the experience of Cuba and Venezuela, where efforts in recent decades to move toward […]
