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The Coronation of the New Emperor
Around the world hundreds of millions of people witnessed the inauguration of the 44th president of the United States (US), or rather the coronation of the new “emperor.” Even at the bottom tip of Africa, it was difficult to escape the scenes of imperial grandeur that beamed across television sets. As was the case with […]
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Continuing Gaza Protests, as Seen on Al Jazeera
and unseen on American TV. . . . Demos Call for Closure of US Embassy — Police and Protesters Clash, Awkar (North of Beirut), Lebanon, 19.01.09 Demos in Solidarity with Gaza in Cities of Australia — Sydney Demo, the Largest, Draws 20,000, 19.01.09 Tens of Thousands Protests in Solidarity with People of Gaza, Karachi, Pakistan, […]
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Obama Visit Suggests No Big Changes in Relations to Mexico; Promise to “Upgrade” NAFTA’s Labor, Environmental Clauses
With only a few days left until his inauguration, President-elect Barack Obama met with President Felipe Calderón in the second week of January, the first meeting with a foreign leader since his election last November, indicating the importance of the U.S. relationship with its southern neighbor. Calderón’s National Action Party (PAN), Mexico’s most conservative major […]
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Rethinking Religion and the Modern
“Our community is expanding: MRZine viewers have increased in number, as have the readers of our editions published outside the United States and in languages other than English. We sense a sharp increase in interest in our perspective and its history. Many in our community have made use of the MR archive we put […]
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Bernanke and “The Great Moderation” Four Years Later
“Our community is expanding: MRZine viewers have increased in number, as have the readers of our editions published outside the United States and in languages other than English. We sense a sharp increase in interest in our perspective and its history. Many in our community have made use of the MR archive we put […]
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A Big Caravan to Washington? The Auto Crisis: Management, Labor, and the Struggle for the Future
The crisis in the auto industry is about many things: the possible collapse of GM, Detroit gas guzzlers, auto emission standards, the environment, and the need for mass transportation, among others. But as became clear this last week, at the center of it all is the struggle between management and the workers, that is, between […]
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The End of the UAW?Interview with Dan La Botz
Play now: Doug Henwood: What’s the likelihood that GM, Ford, Chrysler — all running low on cash, they’re talking about having only a couple of months of money left to keep going — they could enter bankruptcy, wipe out a bunch of their debts, and break those contracts? It could be the effective end of […]
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South America: Recession Can Be Avoided
Can South America escape the wrath of the economic and financial storms that have their epicenter in the United States? Since the financial meltdown began in mid-September, the bond markets of most of the region (Brazil, Argentina, Colombia, Venezuela) have been hit, as well as most of their stock markets and a number of currencies. […]
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Developing Countries: Dangerous Times for the Internal Public Debt
Since the second half of the 1990s, the internal public debt of the world’s developing countries has increased significantly. This increase is now reaching alarming proportions in a number of middle-income countries. While some very poor countries have not yet been affected, the historical trend indicates a continuing rise in the debt level for developing […]
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Seized! The 2008 Land Grab for Food and Financial Security
Today’s food and financial crises have, in tandem, triggered a new global land grab. On the one hand, “food insecure” governments that rely on imports to feed their people are snatching up vast areas of farmland abroad for their own offshore food production. On the other hand, food corporations and private investors, hungry for profits […]
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World’s Labor Federations React to Financial Crisis with Proposals from Re-regulation to Socialism
Labor unions around the world have reacted to the financial crisis and the economic recession with words and actions reflecting their national experience, their political ideology, and their leaderships. Unions and workers have already seen the financial crisis and the growing recession result in the closing of plants and offices, in shorter workweeks, pay cuts, […]
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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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Financial Crisis Hits Mexico: Social Crisis on the Horizon?
The international financial crisis that originated in mortgages and derivatives in the United States has spread to Europe, Asia, and Latin America, and Mexico will be significantly affected by the crisis. Government, business leaders and analysts say that for Mexico the crisis means: Less foreign direct investment. A decreasing market for its exports. Lower prices […]
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Where We Stand: Monthly Review and the Credit Crisis
Sunday afternoon, October 5th, 2008, a moment at the height of a global credit crisis, the like of which has not been seen by anyone under the age of eighty. The time will come when calm has returned, and when we at Monthly Review will point to a record over the last several years of […]
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The Financial Crisis: Will the U.S. Nationalize the Banks?
The political conflict over the Bush administration’s plan for a bailout of the banks, brought about both by differences with the Democrats and even more intensely with rightwing Republicans, makes it highly unlikely that Congress will be able to pass a bailout plan that can stabilize the financial situation along the lines that Secretary of […]
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The Financial Crisis: A View from the Left
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, […]
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Dealing with Iran’s Not-So-Irrational Leadership
Nothing expresses the widening gap between the mind frames of the Iranian ruling elite and their Western counterparts more than the headlines in their respective newspapers. The American media, above all, have unilaterally resolved the intelligence questions over Iran’s nuclear program. The New York Times leads the pack with articles and even editorials that […]
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Of Jobs Lost and Wages Depressed: The Impact of Trade Liberalization on Employment and Wage Levels in the Philippines, 1980-20001
Introduction Despite the vast literature examining the link between trade liberalization and economic growth, empirical studies still fail to provide conclusive and unequivocal evidence supporting the link. What most of these studies emphasize is that openness, accompanied by a country-specific mix of appropriate complementary policies (macroeconomic and financial policies, education, infrastructure, institutional capacity and governance), […]
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The Bottom of the Barrel: A Review of Paul Collier’s The Bottom Billion: Why the Poorest Countries Are Failing and What Can Be Done about It
Summary Paul Collier, in an attempt to bring development economics to a wider audience, has written a book that departs from what he calls the “grim apparatus of professional scholarship.” The result is a book that is almost entirely unverifiable. What is verifiable turns out to be an elaborate fiction. Collier’s thesis is based upon […]
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From Black Power to Ethnic Politics: Class Contradictions of Black Nationalism
Cedric Johnson. Revolutionaries to Race Leaders: Black Power and the Making of African American Politics. University of Minnesota Press, 2007. Cedric Johnson‘s Revolutionaries to Race Leaders traces the ideological cooptation of one of the twentieth century’s most vibrant social movements. The Black Nationalist resurgence of the 1960s and 1970s demanded nothing short of self-determination, […]