Subjects Archives: Political Economy

USA-North Korean relations remain very tense even though the threat of a new Korean War has receded. Yet the U.S. government remains determined to tighten economic sanctions on North Korea and continues to plan for a military strike aimed at destroying the country’s nuclear infrastructure.

For Klein, developing a meaningful anti-shock politics involves some combination of what Sanders represented and what Clinton symbolized: Sanders with respect to class and economics, Clinton as far as race and gender, and everything else. Imperialism and war scarcely enter the argument.

Populism has emerged as the latest bad word in the liberal commentary on current politics in the West. The understanding is simple. Populist politicians are supposed to appeal to the ‘people’ and stoke their jealousy against those who are economically, socially and politically successful. Another word used in liberal discourse to identify extreme right wing is ‘post truth’, designated as the word of the year by Oxford Dictionaries. The implication is that popular opinion now is easily swayed by emotionally charged rhetoric and fake news having no factual basis. The claim that this is happening only now is odd.

Between the end of the Civil War and the early 20th century, the United States underwent one of the most profound economic transformations that any country has ever experienced. In 1865, the United States lagged far behind Britain in manufacturing output; by 1900, it would surpass the totals of Britain, France, and Germany combined.

Growing inequality has been one of the most salient features of the US economy over the last 40 years. A variety of explanations for this rapid growth in top incomes have been proposed, including growing firm size new technology, the market for superstars, poor governance, and changes in top tax rates.

The Republican leaders of Congress killed off Trump’s much touted infrastructure plan months before he even reached the Oval Office. What we are left with is a farce.

If accumulating wealth is the basic objective of capitalism, organising production using wage labour is only one of the ways it can be achieved. What finance does is to open an alternative route to reach the same objective, that is via transaction.

Haitian writer, producer, and director, Roal Peck—whose blockbuster documentary I Am Not Your Negro has become the highest-grossing non-fiction release from Magnolia Pictures—has chosen the Young Karl Marx as the topic of his next film.

Words like fascist and authoritarian get thrown around too promiscuously. But there is no other way to describe David Clarke, who today announced that he was named assistant secretary of the Department of Homeland Security. (The Department has not confirmed Clarke’s appointment.) Clarke occupies the extremist, anti-democratic fringe of far-right officials, even by the standards of the Trump administration.

With a few days to go to Iran’s upcoming presidential elections on 19 May, six candidates could survive the vetting process of the Guardian Councils.… The role of the media, both in Iran and throughout the diaspora, to shape public opinion is significant. Iranian state media, radio and television are supposed to give the “hopefuls” an opportunity to continue campaigning for office, as they speak about their future plans and defend past performances, but they often fall short.

Prof Patrick Bond from the University of the Witswatersrand (Wits) tells Business Day TV why the World Economic Forum, which held its annual Africa meeting last week, serves the interests of the ruling elite at the expense of communities.

Monthly Review Press author Gerald Horne, Robert Pollin and Paul Jay discuss the debate within the Trump White House on whether to leave the Paris climate accords or just undermine them; and how this relates to the fight within the Democratic Party.

Populism properly understood is about popular and democratic opposition to the rule of the money power—to the reign of concentrated wealth. It emerged from radical farmers’ fight for social and economic justice and democracy against the plutocracy of the nation’s Robber Baron capitalists during the late 19th century. It was a movement of the left.

Why is the cause of abnormally high corporate profit margins in the US. The phenomenon is amongst other things upsetting the standard notion that profits are mean reverting to historic averages. Jeremy Grantham (of the global investment management firm, GMO) puts the cause down to three other factors: increased monopoly power, increased political power and increased brand power.

In the decades following, the number of prisoners decreased to a historic minimum. But with cutbacks in the welfare state, the prison population exploded from about 200,000 in 1975 to 2,300,000 in 2013 (Scherrer and Shah, 2017: 37) and prison labor for commercial purposes became legal again. Today, about 15% of the inmates in federal and state prisons perform work for companies such as Boeing, Starbucks and Victoria’s Secret. Migrants detained for violating immigration laws are one of the fastest growing segments of prison labor. Under the Trump administration, their numbers are most likely to increase.

To follow German politics these days you have to like arithmetic. At first only up to six, for that many parties are now vying to get good grades, lots of votes, and more power in the September elections to the Bundestag, which will lead to a government ruling until 2021.

Those who advocate “freeing the market” claim that doing so will encourage competition and thereby increase majority well-being. These advocates have certainly had their way shaping economic policies. And the results? According to several leading economists, the results include the growing monopolization of product markets and the steady decline in labour’s share of national income. Neither outcome desirable.

Since March 13, 2017, over 50 local indigenous peasants known as Sedulur Kendeng, from Central Java, Indonesia, have been sitting with their feet in cement boxes in protest before the Presidential Palace. This is their second such protest in eleven months.

Russia’s strategic alliance with Iran is at the heart of global tensions, and the speed and ferocity of statements by the new U.S. administration do little to allay concerns.… The crusading language of the new US administration is alarming and is engineered to promote “Iranophobia.” Once again the narrative that the Islamic Republic is on the verge of producing nuclear weapons with which it will target Israel and set off an unprecedented Middle Eastern arms race, strives to dominate the public sphere.

The Trump White House is neofascist in terms of its political base, its ideology, and the policies it is advocating. The rest of the U.S. state, the Congress, the judiciary… are not at present neofascist. So we are in a period which is analogous to what the Nazis called Gleichschaltung (bringing into line), which means a fight within the state.