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China’s Fortune Cookie Crumbles: Michael Hudson and Renegade Inc.
Welcome to Renegade Inc. With China’s increasing wealth, Western investors want some of the action. One of those investors is a bullish gentleman called George Soros.
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Peasants and the Revolution
MARXIST theory develops with changing times, as capitalism itself develops, which is why it remains a living doctrine. On the question of the role of the peasantry in the revolutionary process that leads to the transcendence of capitalism, there have been significant developments in Marxist theory, which I propose to discuss here.
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Vouchers for Murder
In order to commit murder or mayhem under this program, vouchers must be submitted within one week prior to the actions contemplated or within a month afterward. Persons who commit violent acts without valid vouchers will be asked to enter into Voluntary Consent Agreements to desist from unauthorized murder or mayhem, and up to one tenth of any ill-gotten gains will be donated voluntarily to the charity of their choice, without any implication of admission of guilt.
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For our Nations to live, capitalism must die
What the recent actions of the Mi’kmaq land and water defenders at Elsipogtog demonstrate is that direct actions in the form of Indigenous blockades are both a negation and an affirmation.
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Vectors or value Chains?
While the framework of “vectoralism” proposed by McKenzie Wark in Capital is Dead: Is This Something Worse? proves inadequate for understanding contemporary political economy, the concept of value chains developed by Intan Suwandi (Value Chains: The New Economic Imperialism) offers a promising alternative.
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Progressive taxation for our times
As developing countries struggle to cope with the pandemic, they risk being set back further by restrictive fiscal policies. These were imposed by rich countries who no longer practice them if they ever did. Instead, the global South urgently needs bold policies to ensure adequate relief, recovery and reform.
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The Western left’s collaboration with the Western bourgeoisie
Changes in historical conditions can elevate a secondary contradiction to a primary, and antagonistic contradiction, in an instant.
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Is public investment holding up global capitalism’s dynamism?
Capitalism is supposed to be all about economic growth, through the dynamism that is created by competition. This growth is meant to be driven by investment (or accumulation) which, in turn, is used to justify the shares of national income that are delivered to private profits, to the owners of capital.
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Law, code and exploitation
By the end of April 2020, the coronavirus epidemic outbreak was reaching millions. Thousands were dying daily. Nearly one third of the worldwide population was experiencing different degrees of forced quarantine.
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Capitalism vs. the Planet
The latest IPCC report paints a picture of five potential futures for humanity. In the worst one, if corporations keep calling the shots, we could see catastrophic warming of up to 5.7˚C.
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Advance Release! The Leaked IPCC Reports
It is a sign of just how serious matters have become—with the UN COP26 talks on climate in Glasgow this November now regarded by many as a last-ditch effort to achieve a global solution on behalf of humanity as a whole—that the early draft versions of Part II and Part III of the IPCC’s, ‘Climate Change 2021: The Physical Science Basis’, were leaked during the summer.
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Michael Hudson v. George Soros on China’s Rejection of “Market” Capitalism
This article would have been very useful if it had stuck to its headline warning, which is more or less along the lines that Xi has made very clear that he’s not going to allow investors, above all foreign investors, to exercise more influence in Chinese business and society.
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Robbing the Soil, 2: ‘Systematic theft of communal property’
“The expropriation of the mass of the people from the soil forms the basis of the capitalist mode of production.” (Karl Marx)
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Imperialism then and now: Capital relocation, inequality, encroachment and protracted crisis – Part 3/3
Prabhat Patnaik shows that as capital is relocated, real wages do not rise, inequality widens, and global demand is suppressed. The system remains in protracted crisis; Keynesianism in the North alone is no solution. The struggle is everywhere.
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Imperialism then and now: Drain of wealth, depression, the role of the State and globalization – Part 2/3
Imperialism which existed in the colonial era persists to this day and the system cannot do without it.
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The urgent need to tax billionaires out of existence
A wealth tax would raise badly-needed revenue. More importantly, it could reduce the fortunes—and power—of billionaires.
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Chip wars or the crisis of late capitalism?
If the U.S. wants to be a world leader, it has to match China in investing in knowledge generation for future technology. Why then is the U.S. taking the sanctions route? Sanctions are simpler to implement; building a society that values knowledge is much more difficult. This is the crisis of late capitalism.
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Leaked report of the IPCC reveals that the growth model of capitalism is unsustainable
Another leak of the UN report warns that the only known way to avert climate breakdown is to avoid any model which is based on perpetual growth.
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Imperialism Then and Now: Wealth, Unemployment, and Insufficient Demand- Part 1/3
Hello and welcome. I’m Lynn Fries producer of Global Political Economy or GPEnewsdocs. Today’s guest is Prabhat Patnaik. He is talking about his read on the history of capitalism that he breaks up into 5 periods from colonialism into the present.
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The end of growth? The capitalist economy & ecological crisis
The question of economic growth and its relation to the climate crisis is a subject of increasing discussion. Here we offer a Marxist view on this critical issue for the environmental movement.