Subjects Archives: Marxism

The progressivist view of history often goes hand in hand with the faith that a new class — sometimes the proletariat, at other times “the people” — has a privileged perspective or consciousness.  If scientific (as opposed to vulgar) Marxism debunks this idea on a theoretical level — showing how commodity and money fetishism’s inversions […]

  Let’s begin with Prime Minister Stephen Harper’s version.  One can think what one likes about deposed Ukrainian President Viktor Yanukovich, but his election in 2012 was recognized as legitimate by international observers and, after a certain hesitation, by the defeated candidate, Yulia Timoshenko.  In fact, relatively honest elections were just about the only positive […]

In one of his last important public discourses, popularly known as the Golpe de Timón speech, the late President Hugo Chávez told a joke about an indigenous tribe and a priest.  The priest baptized the indigenous people giving them Christian names, held communion, and told them not to eat meat on Friday but rather fish […]

  Numsa General Secretary’s Presentation to the Cape Town Press Club, February 11, 2014 I speak to you today with a powerful and united mandate from 341,150 metalworkers. They made their views extremely clear in our workers’ parliament in December last year — the parliament we called the Numsa Special National Congress.  In that parliament […]

Tassos Tsakiroglou: How urgent do you consider the necessity to develop an understanding of the interconnections between the deepening impasse of the capitalist economy and the rapidly accelerating ecological threat? John Bellamy Foster: The urgency of understanding the interconnections between the economic impassse and the ecological emergency derives from the combined threats they pose to […]

  Christmas has just gone by, and we’ll soon be ringing in the New Year, a time when a “profound feeling of consolation and peace” overwhelms the faithful.  But the buzz, created by Pope Francis’ “apostolic exhortation”, Evangelii Gaudium (EG, translated as “The Joy of the Gospel”), issued in late November, and the subsequent clarificatory […]

  Samuel Grove [SG]: For a while now you’ve been working on and defending the old idea of ‘the will of the people’, and you’ve described it in terms of a ‘dialectical voluntarism’; what do you mean by this? Peter Hallward [PH]: I’m not stuck on the terminology, and I’m leery of the way these […]

  Samir Amin in “The Democratic Fraud and the Universalist Alternative” in our issue of October 2011 sets out the fundamental process of the “democratic” fraud: [A]ll hitherto existing societies have been based on a dual system of exploitation of labor (in various forms) and of concentration of the state’s powers on behalf of the […]

Steve da Silva (SD): Over the last decade you have emerged as a leading thinker in synthesizing radical ecology with the Marxist tradition.  From Marx’s Ecology (2000) to The Ecological Rift (2010) and everything in between, you’ve carried out the much needed intellectual work of recovering the overlooked ecological content of Marx’s original thought, presenting […]

Michael Heinrich’s article is really a continuation of the argument by Monthly Review that Marx’s law of the tendency of the rate of profit to fall (LTRPF) is not the main cause of economic crises.… Heinrich makes the following points: 1) Marx’s law is indeterminate; 2) it is empirically unproven and even unjustifiable on any measure of verification; 3) Engels edited Marx’s works badly, distorting his views about the law in Capital Vol. 3; 4) Marx himself, in writings during the 1870s, began to have doubts about the law as the cause of crises and started to abandon it in favour of some theory that took into account credit, interest rates and the problem of realisation (similar to Keynesian theory); 5) Marx died before he could present these revisions of his crisis theory, so there is no coherent Marxist theory of crisis.

It was Marx’s ultimate purpose, as stated in the preface to the first edition of Das Kapital, “to lay bare the economic law of motion of modern society.” It is clear that Marx regarded as his central achievement in this regard the “Law of the Falling Tendency of the Rate of Profit.” In vol.3, (p.303) he declares that: “The barrier of the capitalist mode of production becomes apparent

Heinrich’s article is mainly about the falling rate of profit and crisis theory, but another important point has to do with Marx’s logical method in Capital, and in particular with the levels of abstraction of capital in general and competition. Heinrich argues that Marx encountered difficulties in the Manuscript of 1861-63 concerning this logical structure, and as a result of these difficulties, Marx abandoned this logical structure in the final versions of Capital.

For Marx, is a rising rate of surplus value (s/v) a part of the law itself (as it is presented in chapter 13 of vol. III of Capital) or is it a counteracting factor (dealt with in chapter 14)? There is an easy way to check: we just have to read chapter 13. Marx starts his presentation with a constant rate of surplus value and shows that a rising organic composition of capital leads to a falling rate of profit (pp. 317-18, all pages from the Penguin edition of Capital). Then very quickly he includes a rising rate of surplus value in his considerations (see pp. 319, 322, 326, 327, 333, 337). At pages 333 and 337 Marx even realizes the possibility of a profit rate rising with a rising rate of surplus value, but excludes such a possibility as an “isolated case” or not realistic without going into details. It is clear that he maintains the “law itself” not only with a constant rate of surplus value but also with a rising rate of surplus value!

A bibliography of work utilizing the theory of metabolic rift developed by Marx.

  Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review.  The text below is based on the editorial in its September 2013 issue. — Ed. The parliamentary elections of 2014 are now casting their shadow ahead.  The nationwide elections on a five-year schedule have become a festival, with […]

Public memory of how (the) fascists “use[d] and abuse[d] democratic freedoms in order to abolish them” (Hannah Arendt) was strong when, more than 60 years ago, India’s Constituent Assembly rejected the option of a presidential type of executive.  But now, the coming general elections are being framed as a presidential-style contest between the Bharatiya Janata […]

On September 18, 2013, a press release issued by the Ad Hoc Committee Against the Militarization of CUNY stated: “Six students were arrested in a brutal, unprovoked police attack during a peaceful protest by the City University of New York’s students and faculty against CUNY’s appointment of former CIA chief ex-General David Petraeus.  Students were […]

  The news that Detroit has declared bankruptcy, the largest North American city to do so thus far, foreshadows an extension of the social crisis currently afflicting the centers of capitalism.  As some observers have noted, Detroit is just the tip of the iceberg in what is sure to be a procession of indebted municipalities […]

He awoke with the aftertaste of his nightmare weighing heavily on his fading recollection of factory-fed vampires in striped pantaloons red runnels of blood flowing from their culled smiles squeezing the tears of the night shift workers into small vials assembled on conveyor belts to be sealed, stamped and sold back to the workers for […]