Subjects Archives: Capitalism

When Hugo Chávez triumphed in the 1998 presidential elections, the neoliberal capitalist model was already foundering.  The choice then was none other than whether to re-establish the neoliberal capitalist model — clearly with some changes including greater concern for social issues, but still motivated by the same logic of profit seeking — or to go […]

  “The Third World Network and Jubilee are partnering today to stand up against vulture fund activity, stand up for Argentina, in this incredibly important court case that has massive repercussions for all countries around the world to be able to protect themselves from this kind of litigation in the courts by holdout vulture funds. […]

The depth and length of the global crisis are now clear to millions.  In the sixth year since it started in late 2007, no end is in sight.  Unemployment rates are now less than halfway back from their recession peak to where they were in 2007.  Over 20 million are without work, millions more limited […]

  Rebekah Wetmore and Ryan Romard (RW/RR): The crisis of world capitalism starting in 2007 was the most severe crisis of capitalism since the Great Depression and thus far the recovery, both globally and within Canada, has been weak at best.  With this mind, to what extent is the current crisis cyclical and in what […]

  Q. Can you comment on increased public outrage regarding acts of corruption and strivings towards achieving what is considered normal functioning of the capitalist system? A. The question is: Do we oppose the anomalies of capitalism or capitalism itself?  Corruption is vastly overrated.  Of course, it can reach proportions in which even the normal […]

So the world didn’t end after all and the ‘Mayan apocalypse’ turned out to be another in a long line of doomsday-related tall tales and hoaxes.  No doubt a hard-core of Armageddon enthusiasts who really did believe — or wanted to believe — that the ‘Mayan prophecy’ was anything other than a load of cobblers […]

Sometimes history repeats itself — the first time as tragedy and the second time . . . as another tragedy.  The horrendous fire that just killed 112 workers, mostly young women, at the Bangladesh garment factory echoes the Triangle Shirtwaist Fire in New York City in 1911 that killed 146 workers, again mostly women.  Both […]

In the celebrated section of The Wealth of Nations in which he discusses the advantages of the division of labor, Adam Smith advances the thesis that “common to all men” is a “propensity to truck, barter, and exchange one thing for another.”  Smith hedges on whether this “propensity” is a matter of original human nature […]

The Occupy movement forced the issue of economic inequality into American political discourse. The most common diagnosis, which comes from mainstream economics, is that inequality has risen over the last 40 years because technical change, notably computers and the Internet, has favored highly-educated workers and left lower-skilled workers behind.  The cure is to increase education […]

The most demolishing article I have seen nowadays about Latin America was written by Renán Vega Cantor, full professor at the National Pedagogical University of Bogotá, which was published three days ago by the website ‘Rebelión’ under the title “Ecos de la Cumbre de las Américas” (Echoes of the Summit of the Americas). It is […]

Most Presidents preside over one or more capitalist downturns (recessions, depressions, crises, etc.).  Every President since at least FDR generated a “program” to respond to the downturn — as demanded by citizens and businesses.  FDR and every later President promised that his program would “not only extricate the US from the present economic troubles but […]

I was surprised today when I listened to the speech delivered by Jose Miguel Insulza in Cartagena. I thought that the person who was speaking on behalf of the OAS would at least claim some respect for the sovereignty of the peoples of this hemisphere which were for years colonized and cruelly exploited by colonial […]

The search for the political truth will always be a difficult task even in our times, when science has placed in our hands a huge amount of knowledge. One of the most important was the possibility to know and study the fabulous power of the energy contained in matter. The person who discovered that energy […]

This Reflection could be written today, tomorrow or any other day without the risk of being mistaken. Our species faces new problems. When 20 years ago I stated at the United Nations Conference on the Environment and Development in Rio de Janeiro that a species was in danger of extinction, I had fewer reasons than […]

Eneko Las Heras, born in Caracas in 1963, is a cartoonist based in Spain. | Print

A young veteran was just arrested for murdering homeless people in Los Angeles.  Regardless whether he is actually guilty, a large number of terrible acts have been committed by returning veterans traumatized from the war.  None of the studies of which I’m aware accounts for such costs (including the cost of imprisoning them) in the […]

It is not a matter of being optimistic or pessimistic, knowing or not knowing elementary things, of being responsible or not for events. Those who would like to be thought of as politicians should be thrown onto the trash heap of history when, as the norm goes, they have no idea about everything or almost […]

When Steve Miller, the vulture capitalist who drove Delphi into the ditch of America’s dreams, declared, “Bankruptcy is a growth industry,” he was smiling, but he wasn’t joking. Bankruptcy in the US isn’t a sign of economic distress or mismanagement.  It’s a business plan — calculated, cunning, and void of redeeming social value.  American Airlines […]

Who controls capital, and what does capital control?  The concept of “capital” in this context must be corporate enterprise.  By this metric the commanding heights of capital in the United States would be the Fortune 500 or 1,000, perhaps a thousand or so more, with an array of satellite firms numbering in the tens of […]

John Bellamy Foster and Fred Magdoff at Occupy Wall Street.  Photo by Carrie Ann Naumoff This is a reconstruction from notes of a talk delivered at a teach-in on “The Capitalist Crisis and the Environment” organized by the Education and Empowerment Working Group, Occupy Wall Street, Zuccotti Park (Liberty Plaza), New York, October 23, 2011. […]