Subjects Archives: Financialization

Left Forum 2008 Each spring in New York City, Left Forum gathers intellectuals and activists from around the world to address the burning issues of our times.  The theme for 2008 is “CRACKS IN THE EDIFICE.”  We will examine the context of an empire in the throes of collapse and discuss the possibilities for social […]

Everything went well during the summer of 2007.  The economy was in an upswing and stock-market prices rose even faster.  Then the end of the housing boom in the United States triggered an international financial crisis.  Up to now it has been contained by heavy central-bank intervention; but the euphoria is gone.  The world of […]

  Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review.  Its September 2007 issue features the following editorial. — Ed. No truths are more vigorously avoided, disguised and denied in our media than the disastrous and devastating results for the majority of the post-1991 economic “reforms” and the […]

The authors of the most widely read book on financial panics (Manias, Panics, and Crashes: A History of Financial Crises, Fifth Edition, 2005) refer to them as “hardy perennials” and document how they have repeatedly devastated large portions of modern economies and societies over the last three centuries.  Charles Kindleberger (a professor of economics at […]

Introductory Note: This essay is an adaptation and reworking of a historic 1963 document of the Students for a Democratic Society.  Its original was mimeographed in several thousand copies and distributed jointly by the SDS National Office and the newly-created Economic Research and Action Project (ERAP).  America and the New Era was intended to be […]

  Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review.  Its April 2007 issue features the following editorial. — Ed. The “reform” offensive that started in 1991 as New Economic Policy has continued 15 years with different cover stories — as “recovery from BOP crisis” or “shining India” […]

  The Boards of the World Band and the International Monetary Fund that are meeting in Washington D.C. on 14-15 April are in dire straits.  The President of CADTM-Belgium, Eric Toussaint, explains. The Spring meetings of the WB and the IMF are taking place this weekend.  What is at stake? These two institutions are going […]

Social critics, from Ida B. Wells to Noam Chomsky, recognize that the elite press can serve as the best tool against the elite.  Today’s business magazines have no problem “naming the system,” and they write with clarity and frankness on the inner workings of capitalism and imperialism.  My good friend and correspondent Skip recently sent […]

For a discipline explicitly engaged in the study of power, particularly as exercised in liberal democracies, it is striking how little Canadian political science has actually examined the concentration of private economic power, the political organization of the business classes and the extension of that power into the political realm.  Indeed, Canadian political science has […]

Q.  2007 is the 140th anniversary of the publication of Volume One of Marx’s Capital.  In your opinion, what is its main contribution to understanding contemporary capitalism? Marx’s object in Capital was to explain capital as a social relation in the fullest dialectical sense and in the process to describe its law(s) of motion.  I […]

It is now accepted across a wide spectrum of political thinking that the period of neoliberalism has sharpened income inequalities.  This has occurred along a number of dimensions.  The capitalist class has seen an increase in wealth from an increasing concentration of assets, a rapid run-up in asset prices, and corporate profits restored to historically […]

Le 25 janvier 2007 se tenait, à Paris, la Conférence internationale de soutien au Liban, dite « Paris III », convoquée et présidée par Jacques Chirac. Etaient réunis les représentants de trente-six pays, notamment la secrétaire d’Etat américaine Condolezza Rice, et de quatorze institutions internationales dont le nouveau secrétaire général des Nations Unies Ban Ki-Moon, […]

  Annual Fundraising AppealFriends of MRZine and Monthly Review! The continuing existence of MRZine and Monthly Review depends on the support of our readers.  Unlike many other publications, we make all new Monthly Review articles, as well as MRZine articles, available online, free of charge.  We do so without drawing any advertising money at all […]

NAKED IMPERIALISM:The U.S. Pursuit of Global Dominance by John Bellamy FosterREAD EXCERPTBUY THIS BOOK John Bellamy Foster’s Naked Imperialism: The U.S. Pursuit of Global Dominance was published by Monthly Review Press in May 2006.  It consists of essays written between September 2001 and September 2005, addressing the origins of today’s undisguised imperialism, led by the […]

An Introduction to Marx’ Notion of Money What is money?  This question hardly plays a role in everyday commerce.  What matters is that there is enough.  Bourgeois economic theories reduce money to its economic function.  But the ubiquity of money is fateful and presupposes certain conditions.  Hence, the critique of financial markets is incomplete when […]

RAILROADING ECONOMICS: The Creation of the Free Market Mythology by Michael PerelmanBUY THIS BOOKRead Michael Perelman’s blog: UNSETTLING ECONOMICS: A Progressive Look at Economics and the Rest of the Screwed Up World. Michael Perlman is a longtime professor of economics at California State University, Chico.  A prolific author, his newest book is titled Railroading Economics: […]

  Caracas, Venezuela — Under the elevated lines in the Kensington section of Philadelphia, the Kensington Welfare Rights Union has been waging a battle against poverty that has taken them to center stage of the World Social Forum in Caracas, Venezuela.  Led by Cheri Honkala, a formerly homeless mother, the KWRU began by building encampments […]

  Things seem to keep going from bad to worse for workers at Northwest Airlines (NWA).  While striking mechanics and cleaners face a bitter winter after more than four months on the picket line, pilots, flight attendants, gate/ramp agents, baggage handlers, customer service reps, and other union workers face a fresh round of givebacks against […]

  The world watched as people of New Orleans were herded into the Superdome, only to find themselves in a wretched and unsanitary place with no food, water, or proper medical care. Those in areas of high flooding fled to their rooftops, begging rescue helicopters to airlift them to safety. Many died trapped in their […]