Subjects Archives: Political Economy

Monopoly vs. competition

Lower the curtain, change the scene. The atmosphere in the government building in Berlin on August 2nd is fully different, not a bit of similarity. Those present, most in tailored apparel, sit in soft leather chairs and sip aromatic drinks from fine glassware. Who are they? Germany’s power people!

Amazon is an unusual company. With a market capitalization hitting $500bn at the end of July and no profit to show, it is not a company trying to be a part of the market, it is trying to become the market.

I recommend this book, along with the rest of Standing’s body of work, as an example of the kind of outside-the-box thinking the Left needs in place of the dinosaur Old Left’s organization and policy models if it is to be relevant to the new economy.

I think Marxism analyses the contemporary world in a way which nobody else did. Lenin had said the strength of Marxism lies in the fact that it is true. The point is that it is a genuine scientific discovery.

Why are so many modern capitalist societies addicted to militarism? On the one hand, these societies are intensely growth oriented and expansionist. On the other hand, militarism is a convenient way of absorbing economic surplus and thereby countering the stagnationist propensity of monopoly capitalism.

The decline in unionization is one of the most important factors promoting the concentration of income at the upper end of the income distribution. The statement may not surprise you, but the fact that this was the conclusion of an IMF study of the causes of inequality might.

How does race relate to class in capitalism? Is it intrinsic and essential to the reproduction of capital, or merely an accidental feature of particular capitals? In this recent essay by Richard Seymour, and originally published on his Patreon, Seymour considers a debate within Marxism on the relationship between class, race and capitalism.

The latest issue of the London Review of International Law features an interesting review essay by Robert Howse, in which he makes the case for progressive international lawyers attending to the discipline of economics and the insights that can be gained from it, in particular from what he sees as more progressive economists. Howse’s essay […]

The indirect effect of ​the increase in income inequality is economically more injurious than the erosion of company earnings or a stock market downturn.

Largely unbeknownst to the general public, many media executives and top journalists of almost all major U.S. news outlets, political and business magazines, public broadcasters and press agencies have long been members of the Council on Foreign Relations (CFR).

These racial/ethnic differences mean that our general push for more and better jobs must be accompanied by policies designed to overcome the discriminatory and segmented nature of the US labor market.

Both Democrats and Republicans have used social security funds to hide government debt—i.e., to trick the public. This was made possible by a huge surplus engineered by fund actuaries to account for baby boomers. In the next few years the fund will need to cash in on its bonds and this will cause the federal debt to balloon.

Eugene Victor Debs was not only the builder of the social movement in America but arguably the most important political figure of the 20th century, before being crucified by the capitalist class when he and hundred of thousands of followers became a potent political threat. The most notable moments of Debs life were the railroad strikes in 1894, his campaign for Congress in 1916 until he was arrested under the Sedition Act by President Wilson and finally his speech moments before his sentencing in 1918.

When challenged on the numbers for its tax proposals, the Trump administration has insisted that they’ll lead to large-scale economic growth, which can largely offset the cost. The TPC finds that this isn’t the case.

Persistent economic stagnation together with neoliberal austerity has at this point seriously undermined the stability of the liberal-democratic state and thus the political command sector of the capitalist system. This has led to a dangerous resurgence of political movements in the fascist genus (fascism, neofascism, post-fascism), representing an alternative way of managing the state of the capitalist system, opposed to liberal democracy.

WIth 8 men holding the same wealth as 50% of the world, you have to wonder if there is something systamatically wrong with the way the world is. Capitalism is no longer ideal in the world we live in today. People are starting to realize this in the forms of inequality of wealth, food, resources. Now is the time to change that, and it can be done.

Although reluctant to say it, a recent IMF report on the state of U.S. economy makes clear that U.S. policy makers have failed to protect majority living conditions. While the IMF generally pulls no punches in criticizing the policies of most member governments if it determines that they threaten to slow capitalist globalization dynamics, it tends to tap dance around disagreements when it comes to the policies of its more powerful member countries, especially the United States. If we want improved living conditions we are going to have to fight for them. Perhaps greater awareness of just how bad things are in the United States will help speed the effort.

Abby Martin goes on the deadly front lines of the anti government protests in Venezuela and follows the evolution of a typical guarimba—or opposition barricade. She explains what the targets from the opposition reveal about the nature of the movement and breaks down the reality of the death toll that has rocked the nation since the unrest began, and how a lynch mob campaign came after her and the Empire Files team for reporting these facts.

I wonder whether those so horrified today were sickened then at US attacks on others’ sovereignty. There has been lots of masquerading, I think, by disguised provocateurs or indignant sovereignty defenders. Their threats against even hesitant moves toward dialogue, disarmament, de-escalation in the world’s charged atmosphere are what truly sicken me—and frighten me!