Subjects Archives: Political Economy

John Bellamy Foster: My talk is called “The Epochal Crisis.”  The term “epochal crisis” was introduced by Jason Moore to deal with periods in which economic and ecological crises intersect or merge.  We are certainly in the greatest epochal crisis in the history of the world. . . .  Now, we can also talk about […]

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

Is there a fundamental conflict between a healthy environment and a healthy economy? There has been a lot of concern lately about damage that we humans are inflicting on our small, beautiful Planet Earth.  Waste CO2 from our way of life has been dissolving in the oceans, increasing the acidity of the water and making […]

The topic of agrarian crisis is everywhere.  What does it mean, though? We know what ‘agrarian’ means.  It refers to agriculture and its social relations. What does ‘crisis’ mean?  It means a problem (or a set of problems).  It is not an ordinary problem, however.  It is a big problem.  It is a problem that […]

  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 […]

John Bellamy Foster: We need a society that is geared, as István Mészáros always tells us, to substantive equality.  And no compromise on the issue of equality.  Bolívar said equality is the law of laws.  So we need substantive equality and we need ecological sustainability.  And they have to go together.  How do we know […]

  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 […]

  CJP: What began as a financial crisis in 2007 has become one of the biggest unemployment crises in the advanced capitalist world.  Could this perhaps mean that the crisis of 2007-08 was not actually caused by finance itself but had its underlying causes in the real economy? JBF: No one doubts that it was […]

Capitalism and real democracy never had much to do with one another.  In contrast, formal voting in elections has worked nicely for capitalism.  After all, elections have rarely posed, let alone decided, the question of capitalism: whether voters prefer it or an alternative economic system.  Capitalists have successfully kept elections focused elsewhere, on non-systemic questions […]

  When Wisconsin state workers were courageously occupying the state capitol to protest Governor Scott Walker’s attack on their unions’ right to bargain, AFL-CIO president Richard Trumka trumpeted a call for solidarity actions throughout the labor movement on April 4, 2011, the anniversary of the assassination of Martin Luther King, killed during the Memphis sanitation […]

Speaking about the then dictator of Nicaragua, US President Franklin Delano Roosevelt reportedly said: “Somoza may be a son of a bitch, but he’s our son of a bitch.”  Whether or not Roosevelt actually said it in so many words is disputable, but there is no doubt that it — i.e., dictatorship is licensed in […]

João Pedro Stédile, second from left, speaks to the Peasant Movement of Papay in Haiti.  Photo: Beverly Bell. João Pedro Stédile is an economist, co-founder and co-coordinator of the Landless Workers Movement (MST) of Brazil, and leader among Latin American social movements.  He gave the following talk to hundreds of Haitian farmers at the 40th […]

  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 […]

Angela Merkel’s face usually displays a rather plain, friendly, almost benign expression, matching her simple, benign words.  But in rare unguarded moments, some claim, they glimpse a very hard visage, which is matched, equally rarely, by hardly benign words, like her annoyed statement that Cyprus was “exhausting the patience of its euro partners.”  Yes, Angela […]

  Do you think Marxism is still relevant today? If so, which parts? I think that Marxism is completely relevant for understanding capitalism now. It’s an error to think that capitalism has changed and that therefore we have to change Marxism. Marx grasped the nature of capitalism; and, although capitalism has changed in some of […]

Fred Magdoff: What I would end with is just a couple of ideas — not to give you a blueprint of another type of system but a couple of ideas of what it might be like.  I would say one in which basically the economy and politics are both under social control, under democratic social […]

When Hugo Chávez triumphed in the 1998 presidential elections, the neoliberal capitalist model was already foundering.  The choice then was none other than whether to re-establish the neoliberal capitalist model — clearly with some changes including greater concern for social issues, but still motivated by the same logic of profit seeking — or to go […]

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 […]

  “The Third World Network and Jubilee are partnering today to stand up against vulture fund activity, stand up for Argentina, in this incredibly important court case that has massive repercussions for all countries around the world to be able to protect themselves from this kind of litigation in the courts by holdout vulture funds. […]

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 […]