Subjects Archives: Economic Theory

Boston, MA, December 4, 2009 — “More tax breaks for the super wealthy is one of the last things our economy needs right now,” says Lee Farris, Estate Tax Policy Coordinator for United for a Fair Economy (UFE). “Back in 2001, the Bush Administration enacted a massive tax cut for multi-millionaires by gradually reducing the estate tax over several years. Now, instead of reversing at least part of this damaging Bush tax break, the House voted to make that cut permanent.”

  John Bellamy Foster is the editor of the socialist magazine Monthly Review and teaches sociology at the University of Oregon.  He has written on numerous subjects, from political economy to Marxist theory.  This year Foster published The Ecological Revolution: Making Peace With the Planet. Max van Lingen is a student of political philosophy and […]

  Introduction to Shlomo Sand, The Invention of the Jewish People by Bertell Ollman The Invention of the Jewish People is divided into two parts.  The first is a long section on the theory of nationalism, whose main characteristic, according to Sand, is the tendency to invent a past that suits the current needs and […]

  “[I]t may be surprising to learn that faculty salaries are not a major component of the total costs at most universities.  For instance, at my institution, Eastern Michigan University, faculty salaries make up only 24 percent of total expenses.  So where is the money going?” — Howard Bunsis Conclusion: Yes, these are bad economic […]

  Amandla: Early in 2009 you published your book The Great Financial Crisis (coauthored with Fred Magdoff).  Could you reflect now almost a year later on what made the current recession more severe than previous recessions?  Why has it been compared to the Great Depression and what type of recovery are we likely to see? […]

In the months following the outbreak of the financial crisis in late 2007, the general climate among economists and economic commentators was kind of a stupor.  Mainstream economists and conservative politicians — who had clamored for decades for the government to keep its hands off the economy, for balanced budgets, and for taxes as low […]

  Abstract: This dissertation is an in-depth study of the structures, actors, and policy communities associated with U.S. public diplomacy toward Iran.  Since 2006, the U.S. government has spent more than $200 million for its Iran-related public diplomacy via State Department “democracy promotion” programs, National Endowment for Democracy, and the Broadcasting Board of Governors.  These […]

The Maoist movement in India is a direct consequence of the tragedy of India ruled by her big bourgeoisie and governed by parties co-opted by that class-fraction.  The movement now threatens the accumulation of capital in its areas of influence, prompting the Indian state to intensify its barbaric counter-insurgency strategy to throttle it.  In trying […]

  Anastasia Pinto is executive director of the Center for Organizing, Research and Education in India.

  The Obama administration’s decision to scrap the Bush era anti-missile defense plans in Eastern Europe was actually expected.  Nonetheless, this was a very pragmatic move on the part of Washington.  However, the immediate talk and plans for a different American-led “stronger, smarter, and swifter” anti-missile strategy was not helpful.  I will reserve judgment on […]

  There is growing anger in Swaziland as it emerges that the media have been forced to censor news that a group of King Mswati III‘s wives have been on another international shopping trip squandering up to E50 million (6 million US dollars) that should belong to ordinary Swazis. When the wives went on a […]

  For many years, various American governments have called on Israel to stop the expansion of settlements, but Israel has consistently ignored this demand.  The Obama administration has been the most vocal administration so far in articulation of this demand.  Yet unfortunately a number of American individuals and institutions have provided large quantities of material […]

  Birgit Müller.   The Disenchantment with Market Economics: East Germans and Western Capitalism.  Translated by John Bellamy, Jennie Challender, and Kathleen Repper.  European Anthropology in Translation.  New York: Berghahn Books, 2007.  ix + 244 pp.  $80.00 (cloth), ISBN 978-1-84545-217-9; $27.50 (paper), ISBN 978-1-84545-506-4. “Disenchantment with market economics” is the type of phrase that comes […]

It is now a commonplace that we are experiencing the greatest economic crisis since the Great Depression of the 1930s.  The downward trajectory on a global level is similar to the 1930s, though in the United States — the epicenter of the crisis — there are indications that the rate of decline may be slowing.1  […]

  Chicago What are the banks doing with the bailout billions taxpayers gave them, to help us on the road to economic recovery? In the case of Wells Fargo and the Quad City Die Casting (QCDC) factory in Moline, Illinois, nothing good.  In fact the bank is a huge roadblock to recovery.  That’s why on […]

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 past decade has witnessed a renewed interest in social policies, and some governments have increased social spending to soften the impacts of economic reform.  These changes have come in the wake of widespread realization of the failure of the neoliberal economic model to generate economic growth and dynamism and to reduce poverty.  Meanwhile, […]

  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 […]

Paper presented at the Congrès Marx International V, Paris-Sorbonne et Nanterre, October 2007 1.  Introduction About a decade ago the radical left, both in Italy and elsewhere in Europe, had been gripped by an understanding of contemporary capitalism as based on a three-pronged tendency: ‘globalization’ as an already accomplished state, the ‘end of labor’ due […]

  A group of seven highly indebted rich countries (HIRC) of the world have organized a meeting of twenty nations in London in order to discuss the future of the world’s finances.  They have invited some creditors among developing countries such as Brazil, Argentina, Mexico, some Arab countries, China, and India, leaving aside all the […]