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Subjects Archives: Capitalism

Capitalism and Climate Change

John Bellamy Foster: We need to go down to 350 parts per million [the safe upper limit for carbon dioxide in the atmosphere], which means very big social transformations on a scale that would be considered revolutionary by anybody in society today — transformation of our whole society quite fundamentally.  We have to aim at […]

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Capital, Volume One

Here is Capital, Volume One, pictured as a word cloud identifying 125 words that most frequently appear in the volume and representing the size of each word in proportion to its frequency (the more frequently a word is used in the volume, the larger it is in the picture). Click here to download the word […]

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Is the Financial Crisis the Achilles Heel of Capitalist Globalization?

  金融危機是全球化資本主義的罩門? 知名經濟學者阿敏專訪 Samir Amin: “It’ a monster, yes, it’s a monster, but it’s a monster which can be defeated also.  This pattern of globalization, this pattern of the exclusive rule of dominant capital, that is, of oligopolies, is not acceptable and is not accepted.  The breakdown is starting by the financial crisis, because financial […]

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Capitalism Crashes, Politics Changes

This widening and deepening economic crisis is transforming US politics.  New possibilities are emerging for activists and potential activists if they can see and respond creatively to them. One possibility follows from rethinking the Obama candidacy in the light of recent German politics.  Obama has already garnered an historically disproportionate share of the campaign contributions […]

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The Problem Is Capitalism, Not Just the Banks

Don’t panic!  That’s the panicked cry of governments and central bankers around the world.  Meanwhile their behaviour shows that they expect a very, very deep recession. After repetition over more than a quarter of century — by mainstream economists, ministers, the World Bank and International Monetary Fund — neo-liberal platitudes have been forgotten.  Today, we […]

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Monopoly-Finance Capital and the Crisis

  Klassekampen: Is the credit crisis a symptom of overaccumulation of capital?  It seems to me that investments worldwide, but especially in the United States, were funneled into the traditionally “safe” housing market following the bursting of the dotcom-bubble.  This overinvestment in turn generated a new bubble, thus causing today’s havoc.  Is this correct? JBF: […]

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The Financial Crisis of U.S. Capitalism

The Will Miller Lecture, University of Vermont, October 28, 2008 Like many people who do not live around here, and maybe some who do, I had not heard of Will Miller, so, on being invited to be part of the Will Miller Social Justice Lecture series, I went to the organization’s Web site and learned […]

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Capitalist Crisis, Marx’s Shadow

Capitalism happens.  When and where it does, capitalism casts its own special shadow: a self-critique of capitalism’s basic flaws that says modern society can do better by establishing very different, post-capitalist economic systems.  This critical shadow rises up to terrify capitalism when — in crisis periods such as now — capitalism hits the fan.  Karl […]

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Crisis of Capitalism and the Left

A new crisis of capitalism, in the style of 1929.  The theories of casino capitalism are confirmed.  The US government contradicts itself again and heavily intervenes, demonstrating that its confidence in the market isn’t as great as its propaganda displayed.  Neoliberal capitalism spills its guts, and the theories of the Left — Keynesian or anti-capitalist […]

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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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Dual Crisis

  “When we talk about a financial crisis, it’s really only a symptom. . . .  Financial adventurism is essentially what we have been witnessing for the last thirty or forty years, exploding from time to time in the form of financial crisis.  It’s really adventurist, speculative capital which has to find in some way […]

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How the Left Saved Capitalism

There is an entire genre of theory explaining why the Western capitalist democracies did not undergo socialist revolution in the 20th Century, as Classical Marxism had predicted.  Not surprisingly, most of this material comes from the Left itself.1 We can include Antonio Gramsci’s work on hegemony in this genre, as well as the entire output of […]

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The Capitalist Workday, the Socialist Workday

As May Day approaches, there are four things that are worth remembering: For workers, May Day does not celebrate a state holiday or gifts from the state but commemorates the struggle of workers from below. The initial focus of May Day was a struggle for the shorter workday. The struggle for the shorter workday is […]

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Capitalism and Climate Change

John Bellamy Foster, Marxist ecologist and editor of Monthly Review, addressed the Climate Change I Social Change Conference on “Capitalism and Climate Change,” Sydney, April 11, 2008.  Foster’s talk was part of a panel discussing “Climate Change and Its Social Roots.”  The conference was organized by Green Left Weekly.  Below is Foster’s talk in five […]

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