Subjects Archives: Political Economy

  Part One In his work Capital in the Twenty-First Century (Belknap Press, 2014), Thomas Piketty contributes much to understanding the inequalities of income, inheritance, capital, and wealth generated by the capital system. We are not likely to disagree with many of his insights based on his study of capital and wealth distribution.  Among these […]

Global capitalism is the 800-pound gorilla.  The twin ecological and economic crises, militarism, the rise of the surveillance state, and a dysfunctional political system can all be traced to its normal operations. We need a transformative politics from below that can challenge the fundamentals of capitalism instead of today’s politics that is content to treat […]

Michael A. Lebowitz.  The Contradictions of “Real Socialism”: The Conductor and the Conducted.  New York: Monthly Review Press, 2012.  222 p. In current discussions of twenty-first century socialism, the work of Michael Lebowitz has a unique merit: it is rooted in the experience of Cuba and Venezuela, where efforts in recent decades to move toward […]

Arms Sales A government jobs program (the lone acceptable government jobs program) working to deliver all the latest in U.S. defense industry hardware to all the international “good guys.” Associate A low-wage worker. Bubble (Financial) The artificial inflation of asset prices, which, although appearing to many of the “smartest people in the room” as if […]

You want to know why I’m nuts, Doctor?  I’m part of the lunatic left, that’s why. My delusions of intellectual grandeur are great enough to make me believe that I can actually comprehend the bombings, the embargoes, the torture — all wrought by the good old US of A — while everybody else goes shopping.  […]

  . . . So, our party [Communist Party of Greece, KKE] was very clear — for many years now — that the European Union is a union of capital and an anti-people hornet’s nest.  The parties of the plutocracy in Greece as well as other countries lied to the peoples, fostered illusions that they […]

Samir Amin is director of the Third World Forum in Dakar, Senegal. His books published by Monthly Review Press include The Liberal Virus, The World We Wish to See, The Law of Worldwide Value, and, most recently, The Implosion of Contemporary Capitalism. This article was translated from the French by Shane Mage. 1. Let me begin by saying that I […]

The world today is witnessing a rather novel phenomenon, namely a pervasive tendency towards political uprisings by the urban middle class.  Not just the leaders, but even the bulk of the participants in such uprisings are educated, are reasonably well-off, and make extensive use of social media channels for keeping in touch with one another. […]

Throughout the previous period, PAME, the class-conscious movement, was at the forefront of the struggle against capital’s attack on labor and popular rights.  We will continue in the same direction, because the problems and factors that led the vast majority of the people to poverty, misery, and the loss of rights and conquests are still […]

“Has there ever been a demonstration where people chanted the name of a finance minister? This must be a world first!” says the ironic Xenia, a 53-year-old woman who has been shouting for several minutes, with thousands of demonstrators, the now omnipresent name in Athens: “Yanis Varoufakis, Yanis Varoufakis, Yanis Varoufakis!”

  Bandera de la república popular de España en Atenas, entre las canciones Bella Ciao y Bandiera Rossa. #Syriza pic.twitter.com/HuVaAfO3Dg — ALFON (@TxabierAlonso) January 25, 2015 As a communist, if I were Greek I would certainly be active in the KKE (Communist Party of Greece) and this Sunday the party would have had my vote.  […]

Greek Communist Party (KKE) MEP Kostas Papadakis firmly says: “SYRIZA has made very clear that it is not going to defy the EU or NATO.  We say: What kind of left is this?” “The EU has no fear of SYRIZA.  SYRIZA is not the oligarchy’s first choice, but it is the new face of social […]

“Vermont . . . is the only state with universal single-payer health coverage for its residents.” — James Fallows in The Atlantic, April 2014 For nearly four years, Vermont Governor Peter Shumlin has been basking in the glow of press accolades like the one above.  Unfortunately, what was often misreported nationally as a done deal […]

Government austerity for the masses (raising taxes and cutting public services) is becoming the issue shaping politics in western Europe, north America, and Japan.  In the US, austerity turned millions away from the polls where before they supported an Obama who promised changes from such policies.  So Republicans will control Congress and conflicts over austerity […]

Dawn Paley is a Canadian author.  Drug War Capitalism (AK Press, November 2014) is her first book.  We conducted an e-interview as protests grew against police and military policies in Mexico and the U.S.  The drug war on both sides of the border has played no small role in generating such dissent. Seth Sandronsky: Can […]

Many Venezuelans think that fracking — the dangerous extraction of oil and gas through hydraulic fracturing of sedimentary rocks — is a conspiracy on the part of the United States to drive them into ruin.  That is not the case, but it is an understandable error, in part because of the US’s long history of […]

  This article was first published by the Hankyoreh on 25 November 2014; it is reproduced here for non-profit educational purposes.

5th Dr. BR Ambedkar Memorial Lecture, Indian Institute of Dalit Studies, New Delhi, September 27, 2014 I I would like to use this occasion to dwell upon a point to which Dr Ambedkar had drawn attention in his closing speech to the Constituent Assembly on November 25, 1949.  In that speech he had underscored a […]

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 […]

NYC Climate Convergence, September 20, 2014 A. The Environmental Crisis The “environmental crisis” is actually a number of crises, including the following: climate change; acidification of the oceans (related to elevated atmospheric CO2 levels); pollution of air, water, soil, and organisms with harmful substances; degradation of agricultural soils; destruction of wetlands and tropical forests; and […]