Subjects Archives: Political Economy

It is both an honor and a pleasure to be here at the event of marking the 75th Anniversary of the Ceylon Bank Employees Union. First, let me offer my heartfelt greetings to CBEU, its office bearers and membership. CBEU has had a proud and celebrated history of struggles that helped immensely to record so many victories to improve the conditions of the working class in general and the bank employees in particular.

Using Marx’s critique of political economy, it’s possible for workers employed in a variety of industries to calculate the value of their work and how this value is divided between employer and employee. It becomes possible to calculate the socially necessary labor time and surplus labor time, worker wages and employer profits in their particular workplace.

The commoditisation of education which makes it completely incapable of providing students with the wherewithal to engage in any active and worthwhile public discourse, has proceeded apace under the neo-liberal regime.

The Labour leader played an active part in organising against and resisting the National Front in the late ’70s.

Joseph Halevi was born in 1946 in Haifa, which then was part of British Palestine but since 1948 in Israel. Most of his earlier life was spent in Rome, where he graduated in Philosophy and Political Economy. He has been Professor of Economics at the Interna-ional University College Turin, Italy, since 2010.

Today, one hundred and fifty years after the publication of the first volume of Capital, Marx remains our contemporary.

On February 22nd the University and College Union (UCU) called for the beginning of a nation wide strike in response to Universities UK’s (UUK) attempt to shift of the Universities Superannuation Scheme from a defined benefit pension to a defined contribution pension.

The long-term costs of allowing a handful of corporations to take over healthcare and agriculture in developing countries, in exchange for vaccinations and hybrid seeds sold at discounted price, will be paid by populations in the Global South once the process of monopolization is complete.

Marx’s Capital has been heralded for many things, but providing an exhaustive account of a future socialist society isn’t one of them.

Raoul Peck, the Haitian lmmaker, opens his film—Der Junge Karl Marx (2017)—in the forests of Prussia. Peasants gather fallen wood. They look cold and hungry.… Some of the peasants die. Even fallen wood is not allowed to them.

Although many of us would like to answer this question with a resounding “No!” and insist that our region is well prepared to defend itself against the 1823 pretensions of President James Monroe, with his “America for Americans” -which must be understood as “America for the United States”- it would be a serious mistake to underestimate the risks.

We are witnessing an era of conservative backlash on gender rights. Nearly across the board, women make less than men, make up a majority of those in poverty (70% of those in extreme poverty), and face the real prospect of becoming a victim of sexual violence (1-3 internationally).

Understandably concerned about the consequences of the large and sustained U.S. trade deficit, many workers have grown tired of waiting for so-called market forces to produce balance. Thus, they cheer Trump administration promises to correct the imbalance through tariffs or reworked trade agreements that will supposedly end unfair foreign trade practices.

By 1830, one million Americans, most of them enslaved, grew cotton. Raw cotton was the most important export of the United States, at the center of America’s financial flows and emerging modern business practices, and at the core of its first modern manufacturing industry.

I have been arguing, since 2016, that one of the likely outcomes of the kind of corporate tax cuts Donald Trump and his fellow Republicans have supported—and, as we saw, eventually rammed through—would be an increase in inequality.

When David Harvey says “the historical draining of wealth from East to West for more than two centuries has largely been reversed over the last thirty years,” his readers will reasonably assume that he refers to a defining feature of imperialism, namely the plunder of living labour and natural wealth in colonies and semi-colonies by rising capitalist powers in Europe and North America. Indeed, he leaves no doubt about this, since he prefaced these words with reference to “the old categories of imperialism.” But here we encounter the first of his many obfuscations.

On Reality Asserts Itself, Prof. Leo Panitch says it’s a dilemma that the gradualism of European social-democracy and attempts at a more radical transformation have so far both failed; Panitch says a first step towards democratizing the economy is to make finance a public utility – with host Paul Jay

In a slave society, one can argue, the interest of the slaves lies in keeping the slave owner happy, for otherwise he is likely to flog and whip them mercilessly which would cause them great agony. Likewise in a caste society, one can argue, the interest of the Dalit lies in being as inconspicuous as possible, in not ‘polluting’ the upper castes through his presence, for otherwise he is likely to be beaten and lynched.

Credit is essential for the continuation of capitalism but also a major source of its instability, writes the Marx Memorial Library.

PUERTO RICANS marked six months today since the formation of Hurricane Maria, which devastated the island, causing about $100 billion (£72bn) in damage.