Subjects Archives: Capitalism

  The exit from the systemic crisis of capitalism needs to be political, and “a socialist project can mature in this turbulence.”  So says the Argentine economist, philosopher, and sociologist Claudio Katz, who also warns that the “global economic situation is very serious and is going to have to hit bottom, and now we are […]

Capitalism has generated recurring “crises” everywhere and throughout its history.  It alternates bursts of growth and prosperity with crisis periods when many workers lose jobs and homes, bankruptcies close enterprises, production shrinks, and governments reduce public services.  Growth periods almost always promote speculation, overproduction, inflation, and excess debts that crises then erase or even reverse.  […]

On Thursday the 4th of June, at the Islamic University of Al-Azhar in Cairo, Obama gave a speech of special interest to those of us who are closely following his political actions given the enormous might of the superpower he leads. I cite his very own words to indicate what I think are the basic ideas he expressed, thus summarizing his speech to save time. Not only do we have to know that he spoke but also what he said.

Yesterday on May 31st, an AFP dispatch read: “Cuba has accepted to reopen negotiations with the United States about migration and direct mail service, a new signal of the thaw that is happening just before an Organization of American States (OAS) Summit where the Cuban situation will dominate conversations.

Part 1 Part 2 Minqi Li is Assistant Professor of Economics at the University of Utah and the author of The Rise of China and the Demise of the Capitalist World Economy among other publications.  This lecture was delivered at the Marxist School of Sacramento on 21 May 2009. 

Chavez is an indefatigable educator. He does not hesitate in describing what capitalism means. One by one he takes apart all its lies. He is relentless.

Five days ago I read a press report stating that Ban Ki-moon would appoint Bill Clinton as his special envoy for Haiti.

This much is clear: not in a long time has capitalism been so critically questioned in the US and “socialism” so widely debated as a social alternative.  The left can and should seize this moment.  One part of doing that is to formulate a new program — including a new definition of socialism — that […]

One of the central paradoxes in economic theory relates to the hostility that financial interests in a modern capitalist economy systematically display towards any policy of enlarged State expenditure financed by borrowing, even though such expenditure increases capitalists’ profits and wealth. Let us suppose that the government undertakes a larger borrowing-financed public expenditure programme, and […]

The keynote address at the “Climate Change, Social Change” conference (organized by Green Left Weekly), Sydney, Australia, 12 April 2008. This address became the basis for John Bellamy Foster, “Ecology and the Transition from Capitalism to Socialism” (Monthly Review, November 2008), which in turn became the last chapter of The Ecological Revolution: Making Peace with […]

There are not two different opinions on the issue of A H1N1.

Our world is not only threatened by the cyclical economic crises which are ever more serious and frequent. Unemployment, bankruptcy, and the huge losses in goods and wealth are inseparable companions of the blind market laws which govern the world economy today. Neo-liberalism proscribes any interference by the State, considering it a disturbing element for the economy, as if the domestic order, the army, health, education, culture, science, the courts, the judges, and many other activities could exist without the State and its laws.

Tomorrow is International Workers’ Day.

Karl Marx called to unity: “Workers of the world unite”, although many of the poor were not workers. Lenin, who was even more far-reaching, made a call to the peasants and the colonized peoples for them to struggle together under the leadership of the proletariat.

  As people in the U.S. and around the world evaluate President Barack Obama’s first one-hundred days, many — that is, those who truly wanted a break from the racist, militarist, anti-working class policies of the Bush regime — are coming to the conclusion that the ‘change’ his campaign promised seems to have turned into […]

Some of the things Daniel [Ortega, President of Nicaragua] told me would be difficult to believe if they weren’t being told by him and if they weren’t happening at a Summit of the Americas.

While neither represented at nor excommunicated from the Port of Spain Summit we were able to find out what has been discussed there up until today. We were led to fully expect that the meeting would not be private, but the stage managers deprived us of that highly interesting intellectual exercise. We would be informed of the essence, but not the tone of voice, nor the eyes, nor the faces which so much reflect people’s ideas, ethics and characters. A Secret Summit is worse than the silent movies. To Obama’s left was a man whom I could not identify very well when he placed his hand on Obama’s shoulder, like an eight-year-old school student to a compañero in the first row. Beside him, standing, another member of the retinue who interrupted him to talk with the president of the United States; I could see in those persons importuning him the stamp of an oligarchy that has never experienced hunger and which, in the powerful nation of Obama, expect to have the shield to protect the system from the feared social changes.

  Four Lectures on Marxism (Monthly Review Press, 1981).  Reprinted by Cornerstone Publications, Kharagpur, West Bengal.  ISBN 978-81-88401-17-8.  Rs 55. pp 97 Back in the dog days of the Great Depression, “a very bourgeois American first-year graduate student” (as he would describe himself in a letter to a friend decades later) from Harvard landed in […]

Anyone would think that after the Summit of the Americas, just 13 days after the G-20 meeting and on the heels of the exhausting tour of France, Germany, Prague and Turkey by President Obama, the world would have the right to rest for a few days.

A huge chorus now clamors to heap new regulations on banks, credit markets, international capital flows, and so on.  Regulations, for many in politics, the media, and academia, seem to have become the magic bullet that will not only “solve” the current economic crisis but also prevent future meltdowns.  Many labor union and left voices […]

Abstract Following the 2000-01 crisis, Turkey implemented an orthodox strategy of raising interest rates and maintaining an overvalued exchange rate.  But, contrary to the traditional stabilization packages that aim to increase interest rates to constrain domestic demand, the new orthodoxy aimed at maintaining high interest rates to attract speculative foreign capital.  The end result was […]