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A Modest Proposal for Overcoming the Euro Crisis
It is now abundantly clear that each and every response by the eurozone (EZ) to the galloping sovereign debt crisis has been consistently underwhelming. This includes the joint EZ-IMF operation, back in May, to “rescue” Greece and, in short order, the quite remarkable overnight formation of a so-called “special vehicle” (officially the European Financial Stability […]
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The Myth of Expansionary Fiscal Austerity
Introduction Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” — that is, higher taxes and/or lower government spending — to combat budget deficits. Some supporters of austerity have gone as far as arguing that fiscal adjustment could […]
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First as History, Then as Farce: The Euro Crisis Revisited
When the Crash of 2008 hit Wall Street, European capitalism was thrown into disarray. With the demise of the export-absorbing monster that was the US consumer market, what in 2003 Joseph Halevi and I called “The Global Minotaur” (see Monthly Review, Vol. 55), Europe not only lost a critical source of aggregate demand but also […]
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How to Fight Islamophobia and the Far Right, in Europe and the United States
An alarming trend is sweeping Europe. Far-right parties, using anti-Muslim and anti-immigrant rhetoric, have made electoral gains in several European countries. In the June European parliament elections, these parties were able to garner votes in a way they haven’t before. The British National Party (BNP), which has its roots in fascist parties of the past, […]
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A Nuclear Revival?
Justin Pemberton, dir. The Nuclear Comeback. DVD. New York: Icarus Films, 2007. 53 minutes. Are we on the brink of a nuclear revival? Should we be? The Nuclear Comeback, an absorbing documentary video, is titled declaratively but sprinkles question marks. The Nuclear Comeback embarks on a tour of some of the high and low […]
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The Political Economy of Israel’s Occupation
Paul Jay: So, in talking to people in Israel, one thing I hear constantly is the fight here is about national identity, it’s about the defense of the Jewish state. I don’t hear very much about economics of Israel or the economics of occupation. So how does national identity relate to the economics here? […]
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The Oliver Kamm School of Falsification: Imperial Truth-Enforcement, British Branch
An important and perhaps growing feature of official and strong-interest-group propaganda is the resort to personal attacks and flak to keep dissidents at bay and inconvenient thoughts out of sight and mind. This has been notable over many years in the case of pro-Israel propaganda, where we can observe a positive correlation between upward spikes […]
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Are Shorter Work Hours Good for the Environment? A Comparison of U.S. and European Energy Consumption
Variation in Work Hours among Countries It is well known that Europe lags behind the United States in terms of GDP per capita. However, it is less well known that European workers in a number of countries are nearly as productive, and in some cases more productive, than their American counterparts. As seen in Table […]
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“Obama’s Foreign Policy Report Card”: Juan Cole Grades His President — and Very Positively
Juan Cole’s very positive report card for President Barack Obama’s foreign policy is a bit shocking, given his knowledge and frequent enlightening comments. (“Obama’s Foreign Policy Report Card,” Salon, October 27, 2009.1) “[Obama] receives his lowest grade for his failure to force America’s chattering classes to take notice,” Cole judges — policy issues resolve into […]
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The Iran Versus U.S.-Israeli-NATO Threats
It is spell-binding to see how the U.S. establishment can inflate the threat of a target, no matter how tiny, remote, and (most often) non-existent that threat may be, and pretend that the real threat posed by its own behavior and policies is somehow defensive and related to that wondrously elastic thing called “national security.” […]
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Deconstructing Labor: What Is “New” in Contemporary Capitalism and Economic Policies: a Marxian-Kaleckian Perspective
Paper presented at the Congrès Marx International V, Paris-Sorbonne et Nanterre, October 2007 1. Introduction About a decade ago the radical left, both in Italy and elsewhere in Europe, had been gripped by an understanding of contemporary capitalism as based on a three-pronged tendency: ‘globalization’ as an already accomplished state, the ‘end of labor’ due […]
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On Anti-Semitism, Boycotts, and the Case of Hermann Dierkes: An Open Letter from Jewish Peace Activists
Background Raymond Deane, “A Public Stoning in Germany,” Electronic Intifada, 6 March 2009; and Yossi Bartal, “The German Left and Israel,” Alternative Information Center, 18 March 2009. We are peace activists of Jewish background. Some of us typically identify in this way; others of us do not. But we all object to those who claim […]
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Philosophy of Dogs
Written, shot, edited, and directed by Tatu Laukkanen and Matti Pohjonen, in collaboration with NEGATIVEWARMACHINE in Helsinki, Finland. “Philosophy of Dogs,” Part III of Elephantasma? (a feature-length experimental documentary film that examines economic change in Bombay, India from three different angles), “has already managed to get censored from one seminar on Indian economic growth” […]
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Finland: Students Defend Universities from Capitalism
Over 1,500 students demonstrated in Helsinki on 19 February 2009 against the proposed reform of higher education. After the demonstration, the students proceeded to occupy the administration building of the University of Helsinki. Students in Tampere, Turku, Joensuu, Rovaniemi, and Oulu also organized walkouts. The new Universities Act proposed by the Finnish government, if enacted, […]
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My Six-year-old Son Should Get a Job: What Is Wrong with the Present Global Economic Order?
I have a six-year-old son. His name is Jin-Gyu. He lives off me, yet he is quite capable of making a living. I pay for his lodging, food, education, and health care. But millions of children of his age already have jobs. Daniel Defoe figured out in the 18th century that children are able to […]
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Iran: Comprehensive Sustainable Development as Potential Counter-Hegemonic Strategy
The questions regarding variations in social development, economic progress, and political empowerment have produced a voluminous literature over the past century, and because of the complexity of these issues, much important reflection will continue well into the future. In the early 1980s, a United Nations’ Commission coined the term “sustainable development” as a public statement […]
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International Capital Dominates Brazilian Agriculture
The Movement of Financial Capital In recent years, there has been an intensive, continuous process of concentration and centralization of corporations operating and controlling the entire production process of global agriculture. Concentration is the concept used in political economy to explain the movement of large corporations to combine, accumulate, and become large groups. Thus, […]
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Appeal for Solidarity with the People, the Government, the Communist and Progressive Forces of Bolivia [Llamamiento de Solidaridad con el Pueblo, el Gobierno, las Fuerzas Comunistas e Progresistas de Bolivia]
“O there are times, we must confess To harboring a whim — we Like to picture old Karl Marx Sliding down our chimney” — Susie Day“Help fund the good fight. By contributing to MR, you help reinforce the left and reclaim the future.” — Richard D. Vogel “To do my part, I just […]
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Unembedded, an American Journalist Keeps Focus on Iraqis
The U.S. corporate media have been widely criticized for their refusal to question the Bush administration’s motives and assertions during the run-up to the 2003 invasion of Iraq. Armed with one-sided experts and pundits, the media fanned the passions of the American public, acting as a kind of perverse cheerleader for war with slick TV […]
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Herbert’s Hippopotamus
Herbert’s Hippopotamus is a search for the turbulent life in California of philosopher, writer, and activist Herbert Marcuse, visionary force for the youth and student movements during the 1960s and 1970s. Blending personal narration, archival news footage, staged imagery, and interviews, the documentary examines the media frenzy generated by Marcuse’s presence in Southern California […]