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  • Monthly Review Essays
  •  | The world according to Bloomberg | MR Online

    The world according to Bloomberg

    Originally published: Occasional Links & Commentary on October 28, 2022 (more by Occasional Links & Commentary)

    The story currently being peddle by the folks at Bloomberg [ht: ja] is that the American middle-class is currently suffering, as the enormous wealth they managed to accumulate during the past few years is now dwindling. And that crisis—the end of their “once-in-a-generation wealth boom”—is what they will take into the midterm elections.

  •  | Inflation and the case of the missing profits | MR Online

    Inflation and the case of the missing profits

    Originally published: Occasional Links & Commentary on April 14, 2022 (more by Occasional Links & Commentary)

    Everyone knows that inflation in the United States is increasing. Anyone who has read the news, or for that matter has gone shopping lately. Prices are rising at the fastest rate in decades. The Consumer Price Index rose 8.6 percent in March, which is the highest rate of increase since December 1981 (when it was 8.9 percent).

  •  | James Ensor The Intrigue 1890 | MR Online

    Folk economics

    Originally published: Occasional Links & Commentary on February 14, 2022 (more by Occasional Links & Commentary)

    Mainstream economists have, it seems, discovered the existence of economic ideas outside the official discipline of economics.

  •  | How to lie with inequality statistics Photo Occasional Links  Commentary | MR Online

    How to lie with inequality statistics

    Originally published: Occasional Links & Commentary on February , 2022 (more by Occasional Links & Commentary)

    It’s a “simple story,” with clear political implications. Maybe that’s the reason the Krugmans of the world don’t want to tell it. . .

  •  | Cornelia Mittendorfer Double Alienation 2012 | MR Online

    Ruthless criticism

    Originally published: Occasional Links & Commentary on October 22, 2020 (more by Occasional Links & Commentary)

    We can trace the development of Marx’s critique through a variety of texts—many of them now quite famous, even if they are rarely mentioned or discussed within economics. There, we can see Marx’s ideas developing and changing, until he began to work on his critique of political economy, finally presented in Capital.

  •  | Capitalism and workers power | MR Online

    Capitalism and workers’ power

    Originally published: Occasional Links & Commentary on August 27, 2021 (more by Occasional Links & Commentary)

    You don’t have to read Marx to understand the lack of power workers have under capitalism.

  •  | Class conflict and economics | MR Online

    Class conflict and economics

    Originally published: Occasional Links & Commentary on September 16, 2021 (more by Occasional Links & Commentary)

    A funny thing happened on the way to the recovery from the Pandemic Depression: class conflict is back at the core of economics.

  •  | Chart of the day December 17 2020 | MR Online

    Chart of the day

    Originally published: Occasional Links & Commentary on December 17, 2020 (more by Occasional Links & Commentary)

    Both the number of initial unemployment claims for unemployment compensation and the number of continued claims for unemployment compensation are once again on the rise, signaling a worsening of the Pandemic Depression.

  •  | Toward a critique of political economy | MR Online

    Toward a critique of political economy

    Originally published: Occasional Links & Commentary on December 7, 2020 (more by Occasional Links & Commentary)

    There is no necessary trajectory to Marx’s writings, no reason his earlier writings had to lead to or culminate in Capital. However, as we look back from the vantage point of his critique of political economy, we can see the ways his thinking changed and how the elements of that critique emerged.

  •  | Age of capital | MR Online

    Age of capital

    Originally published: Occasional Links & Commentary on December 2, 2020 (more by Occasional Links & Commentary)

    It was during the “age of capital,” as the illustrious British historian Eric Hobsbawm aptly called it, that Marx formulated his critique of political economy.

  •  | Utopian Socialism Illustration Davidson W | MR Online

    Utopian socialism

    Originally published: Occasional Links & Commentary on November 18, 2020 (more by Occasional Links & Commentary)

    The third major influence on Marx’s critique of political economy (in addition to and combined with classical economics and Hegel’s philosophy) was utopian socialism.

  •  | Toward a critique of political economy Hegel | MR Online

    Toward a critique of political economy: Hegel

    Originally published: Occasional Links & Commentary on November 13, 2020 (more by Occasional Links & Commentary)

    It is difficult to fully understand the Marxian critique of political economy without some understanding of Hegel. No less an authority than Lenin wrote that “it is impossible completely to understand Marx’s Capital, and especially its first chapter, without having thoroughly studied and understood the whole of Hegel’s Logic.”

  •  | Cornelia Mittendorfer Double Alienation 2012 | MR Online

    Ruthless criticism

    Originally published: Occasional Links & Commentary on October 22, 2020 (more by Occasional Links & Commentary)

    But where did Marx’s critique of mainstream economics come from? It certainly did not emerge in one fell swoop, as a ready-made theory of capitalism. And it wasn’t produced in isolation, independently of the society within which it was first produced and then further elaborated.

  •  | Chart of the day | MR Online

    Chart of the day

    Originally published: Occasional Links & Commentary on October 15, 2020 (more by Occasional Links & Commentary)

    U.S. billionaires have recouped all of their wealth—and more—during the Pandemic Depression. Meanwhile, since May, the number of poor Americans has grown by about 8 million.

  •  | James Sanborn Adam Smiths Spinning Top 1998 | MR Online

    Mainstream economics then: classical political economy

    Originally published: Occasional Links & Commentary on October 14, 2020 (more by Occasional Links & Commentary)

    Marxian economists have been quite critical of contemporary mainstream economics. As we saw in Chapter 1, and will continue to explore in the remainder of this book, Marxian economists have challenged the general approach as well as all of the major conclusions of both neoclassical and Keynesian economics.

  •  | Limits of mainstream economics today | MR Online

    Limits of mainstream economics today

    Originally published: Occasional Links & Commentary on October 12, 2020 (more by Occasional Links & Commentary)

    Keynes’s criticisms of neoclassical economics set off a wide-ranging debate that came to define the terms of—and, ultimately, the limits of debate within—mainstream economics.

  •  | Mainstream economics today Keynesian | MR Online

    Mainstream economics today: Keynesian

    Originally published: Occasional Links & Commentary on October 8, 2020 (more by Occasional Links & Commentary)

    Once it was created as a new theory of capitalism, neoclassical economics expanded its influence—in its original countries as well as elsewhere.

  •  | Milton Friedman   Performative economics | MR Online

    Performative economics

    Originally published: Occasional Links & Commentary on October 7, 2020 (more by Occasional Links & Commentary)

    The relation between economic theories and economic systems is even more dynamic. The various economic theories of capitalism are not just different ways of making sense of that particular economic system. They emerge, develop, and change over time as capitalism itself changes—and, in turn, they have effects back on capitalism.

  •  | Mainstream economics today | MR Online

    Mainstream economics today

    Originally published: Occasional Links & Commentary on October 5, 2020 (more by Occasional Links & Commentary)

    Readers today will be more familiar with contemporary mainstream economics than with the mainstream economics of Marx’s day. So, let’s start there.

  •  | Economic theories and systems | MR Online

    Economic theories and systems

    Originally published: Occasional Links & Commentary on October 1, 2020 (more by Occasional Links & Commentary)

    In the previous chapter, we saw that Marxian economics represents a two-fold critique: a critique of mainstream economic theory and a critique of capitalism, the economic and social system celebrated by mainstream economists.

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Monthly Review Essays

  • US Imperialism in Crisis: Opportunities and Challenges to a Global Community with a Shared Future
    Sam-Kee Cheng  | A late 1940s Soviet poster showing a US military service member lounging on top of a German factory smoking a cigar The text beneath reads DER DOLLARIMPERIALISMUS dollar imperialism | MR Online

    1. Introduction The predominance of US economic, political and military power in the world was established at the end of the Second World War.1 With just 6.3 percent of global population, the United States held about 50 percent of the world wealth in 1948. As the only power which had used nuclear weapons on civilian […]

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    Robert W. McChesney  | Bob McChesney on Saving Journalism | MR Online

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