Subjects Archives: Capitalism

What are the underlying structural reasons for the coronavirus outbreak? According to Monthly Review Press author Rob Wallace, you have to look at global agriculture if you really want to understand the nature of global outbreaks.

In the midst of a pandemic, one would expect all countries to collaborate; that a humanitarian crisis of this magnitude would provide ample opportunity to end (or suspend) inhumane economic sanctions. Is this not the time for the imperialist bloc, led by the U.S., to end the sanctions against Cuba, Iran, Venezuela, and a series of other countries?

The real danger of each new outbreak is the failure or—better put—the expedient refusal to grasp that each new Covid-19 is no isolated incident. The increased occurrence of viruses is closely linked to the proliferation of capitalist food production and distribution.

The money trail of U.S. Sanctions leads to the Federal Reserve Bank of New York, which—behind the shadow of secrecy laws that effectively prohibit any form of public accountability—facilitates the theft of public wealth from targeted countries on a scale only previously accomplished through military invasion and occupation.

In her recent volume Re-enchanting the World: Feminism and the Politics of the Commons (PM Press, 2019), Silvia Federici fruitfully brings together feminist reflections with discussions of the commons as a possible way of overcoming capitalism.

We, the hosts of the Money on the Left podcast, write to express our solidarity with the University of California, Santa Cruz (UCSC) graduate students participating in an ongoing wildcat strike for a Cost of Living Adjustment (COLA). We extend our full support to not only the 82 UCSC graduate students who the UC administration […]

To me, the Lebanese crisis looks like, in the first instance, as a foreign exchange and international transactions crisis, a classic developing country crisis in the era of financialisation. As such it is closely connected to the country’s policy on the exchange rate. The fixed peg policy chosen by the Lebanese ruling class and operated by the central bank and the government for a long time, has proven destructive. The country’s economy is under great pressure because the strong pound has damaged Lebanese competitiveness on an international scale and facilitated the growth of domestic credit.

What to do if confronted with an extremely contagious virus that medical experts say they have not seen before and don’t understand, and which is fast spreading and killing hundreds of people? a) Take precautionary measures to stop the virus spreading and prepare the health system for a potential shock? Or b) Ignore it, blithely assert – without any evidence – that it is little different from the common flu, accuse your adversaries.

The so-called platform economy–the distribution of, and access to work through websites and apps–continues to grab headlines and the imagination of policy makers, researchers, and journalists the world over. Much attention is given to its rapid expansion, its potential for further growth, and the large amounts of wealth generated through it.

Not long before the Twin Towers fell, the Italian philosopher Giorgio Agamben resurrected a concept anathema to the liberal notion of progress—the idea that unrelenting crisis is not necessarily exceptional. Agamben employed the image of “the Camp” to describe the space and time “when the state of exception begins to become the rule.”

Unlike capitalism, socialism avoids any waste or slack, such as is caused by an over-production crisis, by raising the consumption of workers appropriately to avert it.

“A new phase in humanity’s relationship with the biosphere, where the ocean is not only crucial but is being fundamentally changed”

In In Praise of Love, Alain Badiou defined love as a form of “minimal communism [where] the real subject of a love is the becoming of the couple and not the mere satisfaction of the individuals that are its component parts.”(1) Earlier in the book, Badiou provided a more elegant statement, associating the act of loving to “learn[ing] that you can experience the world on the basis of difference and not only in terms of identity.”

When, decades ago, ecology emerged as a crucial theoretical and practical issue, many Marxists (as well as critics of Marxism) noted that nature–more precisely, the exact ontological status of nature–is the one topic where even the crudest dialectical materialism has an advantage over Western Marxism.

In December, Ontario’s Auditor-General, Bonnie Lysyk, issued a report that offers the province’s right wing Tory government an opportunity to attack disabled people living in poverty.

Today the cow is dry. Businessmen stepped on her neck for years, extracting the last drop of milk. There is nothing left for them to fight for, except for the hopes of using us to beg either from the U.S., the E.U. or the Gulf States.

Thirty years ago there were fifteen border walls around the world. Now there are seventy walls and over one billion national and international migrants. International migrants alone may even double in the next forty years due to global warming.

Alexandra Scaggs joins Money on the Left to discuss her experience covering the ongoing paradigm crisis in mainstream economics, central banking and finance—and why leftists should be paying close attention.

Some firefighters report flames 150 metres high. Read that again, slowly. Flames 150 metres high. Higher than a 40 storey building.

Economic imagery pervades societal discourse. Part of this imagery projects markets as existing everywhere; the common societal parlance sees talk of the car market, the grocery market, the computer market, or, simply, the market.