Subjects Archives: Capitalism

David Harvey, one of the most influential figures in geography and urban studies, and among the most cited intellectuals of all time across the humanities and social sciences, delivered a featured lecture, “Marx, Capital and the Madness of Economic Reason.” at the 2017 AAG annual Meeting.

“Capitalism cannot reform itself; it is doomed to self-destruction. No universal selfishness can bring social good to all. Communism—the effort to give all men what they need and to ask of each the best they can contribute—this is the only way of human life.” With this sober stroke of his insurgent pen, the 93-year-old scholar joined the Communist Party.

Organizing a strategy that is likely to win is no easy task. After all, the enemies of the working class are more powerful today than ever before; they have control over the military, the media, the courts, the politicians, and even the unions. The fight against the patriarchal capitalist system, therefore, must be strategic to be effective.

In the U.S., where wealth is most highly concentrated, almost a quarter of income goes to the rich. So it should come as no surprise that a big chunk of the world’s richest call America home. Two out of five millionaires and billionaires live there, and their ranks are growing fast.

The experience of the last three decades has clearly demonstrated that social struggles in and of themselves are not sufficient to stop the drift to the right and re-establish a dynamic of social advances. That requires going beyond defensive strategies and creating a positive alternative project that is authentically social and democratic.

Visitors will be invited to reflect on capitalism as if looking back at it from a world in which capitalism is dead. “Much of the evidence of capitalism is either eroding over time or simply not known or easily accessible to the public,” the mission statement reads. “Our ambition is to connect and integrate these many efforts before the evidence is erased forever.”

Between the end of the Civil War and the early 20th century, the United States underwent one of the most profound economic transformations that any country has ever experienced. In 1865, the United States lagged far behind Britain in manufacturing output; by 1900, it would surpass the totals of Britain, France, and Germany combined.

If accumulating wealth is the basic objective of capitalism, organising production using wage labour is only one of the ways it can be achieved. What finance does is to open an alternative route to reach the same objective, that is via transaction.

Prof Patrick Bond from the University of the Witswatersrand (Wits) tells Business Day TV why the World Economic Forum, which held its annual Africa meeting last week, serves the interests of the ruling elite at the expense of communities.

Populism properly understood is about popular and democratic opposition to the rule of the money power—to the reign of concentrated wealth. It emerged from radical farmers’ fight for social and economic justice and democracy against the plutocracy of the nation’s Robber Baron capitalists during the late 19th century. It was a movement of the left.

Since March 13, 2017, over 50 local indigenous peasants known as Sedulur Kendeng, from Central Java, Indonesia, have been sitting with their feet in cement boxes in protest before the Presidential Palace. This is their second such protest in eleven months.

The fact that a large number of refugees, especially from countries which have been subjected of late to the ravages of imperialist aggression and wars, are desperately trying to enter Europe is seen almost exclusively in humanitarian terms.  While this perception no doubt has validity, there is another aspect of the issue which has escaped […]

  Part One In his work Capital in the Twenty-First Century (Belknap Press, 2014), Thomas Piketty contributes much to understanding the inequalities of income, inheritance, capital, and wealth generated by the capital system. We are not likely to disagree with many of his insights based on his study of capital and wealth distribution.  Among these […]

Global capitalism is the 800-pound gorilla.  The twin ecological and economic crises, militarism, the rise of the surveillance state, and a dysfunctional political system can all be traced to its normal operations. We need a transformative politics from below that can challenge the fundamentals of capitalism instead of today’s politics that is content to treat […]

Greek Communist Party (KKE) MEP Kostas Papadakis firmly says: “SYRIZA has made very clear that it is not going to defy the EU or NATO.  We say: What kind of left is this?” “The EU has no fear of SYRIZA.  SYRIZA is not the oligarchy’s first choice, but it is the new face of social […]

Dawn Paley is a Canadian author.  Drug War Capitalism (AK Press, November 2014) is her first book.  We conducted an e-interview as protests grew against police and military policies in Mexico and the U.S.  The drug war on both sides of the border has played no small role in generating such dissent. Seth Sandronsky: Can […]

  This article was first published by the Hankyoreh on 25 November 2014; it is reproduced here for non-profit educational purposes.

Many Venezuelans think that fracking — the dangerous extraction of oil and gas through hydraulic fracturing of sedimentary rocks — is a conspiracy on the part of the United States to drive them into ruin.  That is not the case, but it is an understandable error, in part because of the US’s long history of […]

I. The Piketty Argument Thomas Piketty’s book Capital in the Twenty-first Century embodies an immense amount of empirical research into the distribution of wealth and income across the population for a number of advanced capitalist countries going back for over two centuries.  In particular Piketty has made extensive use of tax data for the first […]