Subjects Archives: Globalization

Growing inequality has been one of the most salient features of the US economy over the last 40 years. A variety of explanations for this rapid growth in top incomes have been proposed, including growing firm size new technology, the market for superstars, poor governance, and changes in top tax rates.

If accumulating wealth is the basic objective of capitalism, organising production using wage labour is only one of the ways it can be achieved. What finance does is to open an alternative route to reach the same objective, that is via transaction.

Last week Puerto Rico officially became the largest bankruptcy case in the history of the American public bond market. On May 3, a fiscal control board imposed on the island’s government by Washington less than year ago suddenly announced that the Puerto Rico’s economic crisis “has reached a breaking point.” The board asked for the immediate […]

I. The Piketty Argument Thomas Piketty’s book Capital in the Twenty-first Century embodies an immense amount of empirical research into the distribution of wealth and income across the population for a number of advanced capitalist countries going back for over two centuries.  In particular Piketty has made extensive use of tax data for the first […]

Despite the prolonged global economic crisis since 2007/2008, neo-liberal economic thought and practice continue to reign supreme.  In his important book Capitalist Globalization: Consequences, Resistance, and Alternatives (Monthly Review Press, 2013), Martin Hart-Landsberg makes a number of key interventions unraveling the myth of neo-liberalism as well as the dynamics underlying capitalist accumulation. First, he identifies […]

The race of globalization is leaving the majority of the world’s population far behind.  According to UNICEF, the richest 20% of the population gets 83% of global income, while the poorest quintile has just 1%.1  This trend is getting worse.  A new UNDP report called “Humanity Divided” estimates that 75% of the world’s population lives […]

One state or two?  Boycott of Israeli goods or goods from the settlements?  Is the lobby the genesis of American wrongdoing in Palestine or is it imperialism?  The questions — regarding vision, strategy, and analysis — produce sharp cleavages on the Left.  Indeed, generally ones much deeper than they need to be.  And they remain […]

  “These NGOs funded by the World Bank, Ford, and so on — why are they participating, mediating what public policy should be? . . .  The World Bank runs 600 anti-corruption programs just in places like Sub-Saharan Africa.  Why is the World Bank that interested in anti-corruption?  I looked at five of the major […]

Iran’s recent successful launch of a second satellite into orbit has drawn considerable attention around the world. As in the past, Iran’s announcement of the launch of its domestically built satellite into space received mixed reactions in the West. Some mainstream U.S. media treated the announcement with skepticism and ridicule. “Before you cancel that European vacation or start building a bomb shelter, it’s worth taking Iran’s boasts with a grain of salt,” one commentator wrote in Wired. “While Iran has cooked up some indigenous weaponry over the years, its desire to puff out its chest and pronounce immunity from the effects of international sanctions has led to some absurd exaggerations and outright lies.”

  Barack Obama won the Nobel Peace Prize in 2009 while at the same time sending more troops to the Afghanistan War.  What has become of the promise of “change”? I am one of the few who are not disillusioned, because I had no expectations.  I had written about Obama’s positions and prospects even before […]

  Abstract: China’s integration into the global economy, while rapid, has been managed as part of a wider liberalization process.  The structural changes in the rural economy arising from these twin processes have led to widening intra-rural inequalities.  To address these, the central leadership has, in Polanyian manner, moved to counter some of the adverse […]

  “My friend told me to call Israel the ’48 lands while in Gaza.  Here’s one of many reasons why, and why a one-state struggle is the right(er) struggle.” — Max Ajl Targeted Citizens, written, directed, produced, and edited by Rachel Leah Jones for Adalah, surveys discrimination against Palestinian citizens in Israel.  With the participation […]

  The East Palestine Archipelago Above: Imagined map by Julien Bousac, graphically illustrating the Palestinians’ difficulty in getting around.  All the zones of the West Bank occupied by Israel are pictured as the sea.  Left: The legend of the map in English. Source: L’Atlas, Un monde à l’envers, Paris: Le Monde diplomatique, 2009. Download the […]

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 […]

  Keith David Watenpaugh.   Being Modern in the Middle East: Revolution, Nationalism, Colonialism, and the Arab Middle Class.   Princeton: Princeton University Press, 2006.  xi + 325 pp. $37.95 (cloth), ISBN 978-0-691-12169-7. One of the great modern landmarks of the city of Aleppo is the Baron Hotel.  The Mazloumians, a wealthy Armenian family of […]

  金融危機是全球化資本主義的罩門？ 知名經濟學者阿敏專訪 Samir Amin: “It’ a monster, yes, it’s a monster, but it’s a monster which can be defeated also.  This pattern of globalization, this pattern of the exclusive rule of dominant capital, that is, of oligopolies, is not acceptable and is not accepted.  The breakdown is starting by the financial crisis, because financial […]

Modern economic class struggle, the unremitting, sometimes hidden, sometimes open, fight between capitalists and workers that erupted in the 19th century and dominated the 20th, is taking on new forms and dimensions in the 21st century. The stakes of this continuing conflict are higher than they have ever been.  Every aspect of human life on […]

The ideology of neoliberal globalization has been on a roll since the early 1980s.  It was not in fact a new idea in the history of the modern world-system, although it claimed to be one.  It was rather the very old idea that the governments of the world should get out of the way of […]

“O there are times, we must confess To harboring a whim — we Like to picture old Karl Marx Sliding down our chimney” — Susie Day “Help fund the good fight.   By contributing to MR, you help reinforce the left and reclaim the future.” — Richard D. Vogel “To do my part, I just […]

“O there are times, we must confess To harboring a whim — we Like to picture old Karl Marx Sliding down our chimney” — Susie Day “Help fund the good fight.   By contributing to MR, you help reinforce the left and reclaim the future.” — Richard D. Vogel “To do my part, I just […]