Subjects Archives: Global Economic Crisis

  • Crises of Capitalism and Social Democracy

      John Bellamy Foster is best-known as author of Marx’s Ecology (2000; in which he corrects the popular misapprehension that Marx did not ‘get’ environmental limits), and as editor of Monthly Review (monthlyreview.org), the journal founded by Marxist economist Paul Sweezy in the late 1940s.  In his latest book, The Endless Crisis (2012; written with […]

  • The Logic of Legalization

    The political calculus behind immigration reform was supposed to have changed after the elections of 2012.  The outcome of the elections, along with some basic economics, was supposed to have made the logic of legalization all but inevitable, setting the stage for the passage of comprehensive immigration reform early this year. And yet, we remain […]

  • Workers of the World

    Labor historians Marcus Rediker and Peter Linebaugh have vividly described how sailors and other maritime workers were in the vanguard of the creation of an international working class.  Unlike most people in the early modern period who largely stayed rooted to the soil of their birth or tied closely to their particular artisanal enterprises, Jack […]

  • Capitalism, Crises, and a Socialist Alternative: In Conversation With Michael A. Lebowitz

      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 […]

  • Zyuganov and Religion: On the Current State of the Russian Communist Party

    On 27 October, 2012, Gennady Zyuganov gave a rather important speech.  Presented at the 14th plenum of the central committee, it sought to provide the framework for renewing and improving the theoretical work of the party.  But this is not any party and Zyuganov is not any leader, for the party is the Russian Communist […]

  • The Threat of Barbarism: US Imperialism Unleashed

    With signs of a global economic downturn mounting, US aggression across the Middle East and North Africa ratchets up.  Once again, US imperialism stands poised to open the gates of Hell. According to the IMF’s World Economic Outlook report released last week, the “risks for a serious global slowdown are alarmingly high.”  The report projects […]

  • Can Caring Capitalists or Progressive Policies Save the American Economy?

    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 […]

  • Democracy Instead of the Fiscal Treaty!  We Need a Different Approach to Tackle the Crisis, and a Different Europe

      Spring 2012.  Merkel and Sarkozy rush from summit meeting to summit meeting, in order to save the euro.  The yellow press smears the people of Greece.  The struggle over a solution to the crisis is intensifying dramatically: by early 2013, an authoritarian-neoliberal alliance of business lobby groups, the financial industry, the EU Commission, the […]

  • Wall Street, Small Business, and the Limits of Corporate Personhood: An Interview with Doug Henwood

    Sasha Lilley: Protests against Wall Street have inspired many people to move their money from big banks to smaller banks and credit unions and encourage others to do the same.  Why might you be skeptical of this effort? Doug Henwood: There are several reasons.  First of all, I think a lot of the big banks […]

  • Social Democracy’s Great Error: Similarities Between the Schröder and Zapatero Administrations

    In circles close to the former Zapatero administration, attempts have been made to represent former Prime Minister Zapatero as the politician who “sacrificed himself to save Spain,” comparing him to former German Chancellor Schröder who, though aware that he would antagonize his electoral base with his clearly neoliberal policies, went ahead with them, for he […]

  • “Share Our Wealth” and the 99% vs. the 1%

    The Great Depression of the 1930s saw the outbreak of a multitude of radical social movements on the Left and on the Right — or ones that were simply sui generis like the “Share Our Wealth” campaign launched by the fiery Louisiana populist politician Huey P. Long, Jr.  Long came from a poor pinewoods parish […]

  • Neoliberal Rampage in Canada

    Like the Grinch who stole Christmas, the Conservative government of Canada’s Prime Minister Stephen Harper has just left a lump of coal in Canadian workers’ stockings.  A cover story in the Globe and Mail of December 22, 2011 announces that federal public pension programs are being targeted for cuts to reduce the federal deficit.1  The […]

  • #OWS and the Young Trade Unionists

    Cory McCray, Founder of the Young Trade Unionists, and George Hendricks, Baltimore Teachers Union (BTU) Rep and Vice President of the Young Trade Unionists (YTU) If you head down to the IBEW Local 24 Union Hall Auditorium on W. Patapsco Avenue in Baltimore on the first Tuesday of any month, you’ll encounter a meeting of […]

  • Lessons from a Long History of Dissent: From the Early Twentieth Century to Occupy Wall Street

    World Peace Forum Teach-In, Vancouver, Canada, November 12, 2011 (Modified from Notes) We are at what social theorists call a “historic moment,” in which real change suddenly seems possible.  It is therefore all the more important to learn from past struggles.  One of the first lessens of a long history of dissent from the early […]

  • Occupy Denialism: Toward Ecological and Social Revolution

    This is a reconstruction from notes of a keynote address delivered to the Power Shift West Conference, Eugene, Oregon, November 5, 2011. All of us here today, along with countless others around the world, are currently engaged in the collective struggle to save the planet as a place of habitation for humanity and innumerable other […]

  • Occupy Wall Street: An Opening to Worker-Occupation of Factories and Enterprises in the U.S.

      The Social Economy Context The Occupy Wall Street (OWS) movement has clearly expressed the hopes and great potentialities of the working class both in the U.S. and globally.  The 99 percent are speaking up and saying that they will no longer do the bidding of the 1 percent.  In essence it is the revolt […]

  • Why We Occupy, What We Know

    Occupy Eugene rally, 15 October 2011 We are here as part of the Occupy Wall Street movement, which in a few short weeks has become a global movement in hundreds of cities around the world.  We are part of the 99 percent not only in this country but the world. I have been reading the […]

  • Iran’s Massive Banking Scandal

    What’s the origin of the Islamic Republic’s biggest banking scandal? The financial conglomerate Amir Mansour Arya Investment Development Company allegedly procured several letters of credit from domestic banks totaling $2.8 billion — far above the company’s available collateral.  The Arya Group, founded by Amir Mansour Khosravi and now controlled by his son Mah-Afarid, controlled around […]

  • Living on the Edge: Economic Insecurity

    The Institute for Women’s Policy Research (IWPR) has released not one, but two, major research reports today.  Both analyze rising economic insecurity and draw on the findings from a large survey commissioned by IWPR and the Rockefeller Foundation in the fall of 2010. The first report “Women and Men Living on the Edge: Economic Insecurity […]

  • Class Warfare Indeed

    Over the last two decades or more, Republicans have been denouncing as “class warfare” any attempt at criticizing and restraining their mean one-sided system of capitalist financial expropriation. The moneyed class in this country has been doing class warfare on our heads and on those who came before us for more than two centuries.  But […]