Subjects Archives: Political Economy

The news from the Danish capital gives a picture of chaos. After planning a conference with about 40 thousand people in attendance, the hosts find it impossible to honor their promise. Evo, the first of the two presidents of ALBA-member countries to arrive, stated some truths derived from the millennium-old culture of his people.

The historical geography of capitalist development is at a key inflexion point in which the geographical configurations of power are rapidly shifting at the very moment when the temporal dynamic is facing very serious constraints.  Three-percent compound annual growth (generally considered the minimum satisfactory growth rate for a healthy capitalist economy) is becoming less and […]

  Paul Jay, Senior Editor, The Real News Network: So let’s talk about Copenhagen.  If in fact most of the scientific community is quite persuaded in the climate change science, and certainly they are, and all the world governments say they are, what’s preventing us from getting a serious agreement, and particularly with China and […]

In Part 1 of this article we argued that Slavoj Žižek and Alain Badiou’s account of the foundation of Communist universalism in the event of Christianity signals a number of inconsistencies immanent to their respective ontologies (Coombs 2009).  For Žižek it appears difficult to reconcile his touted open interpretation of Hegel with the ontological significance […]

  Human societies have created the bases of our survival, sustenance and advancement through the use of our natural resources in production with rudimentary tools and rising levels of science and technology.  Yet in no time in history has environmental destruction been systematically brought about in most parts of the world. The people of the […]

Boston, MA, December 4, 2009 — “More tax breaks for the super wealthy is one of the last things our economy needs right now,” says Lee Farris, Estate Tax Policy Coordinator for United for a Fair Economy (UFE). “Back in 2001, the Bush Administration enacted a massive tax cut for multi-millionaires by gradually reducing the estate tax over several years. Now, instead of reversing at least part of this damaging Bush tax break, the House voted to make that cut permanent.”

  Jean Paul Sartre in the fifties made the somber remark that things were so bad at the Sorbonne in the 1920s that the University did not even have a Chair in Marxism.  In asserting the fact at that time, he was of course assuming that things at mid-century had changed dramatically and that Marxism […]

December 3, 2009 To Whom It May Concern: A modest set of financial transaction taxes could raise a substantial amount of needed revenue while having little impact on trades that have a positive economic impact. The cost of trading financial assets has plummeted over the last three decades as a result of computerization.  This has […]

  John Bellamy Foster is the editor of the socialist magazine Monthly Review and teaches sociology at the University of Oregon.  He has written on numerous subjects, from political economy to Marxist theory.  This year Foster published The Ecological Revolution: Making Peace With the Planet. Max van Lingen is a student of political philosophy and […]

Testimony at the Hearing Entitled “Taking Stock: Independent Views on TARP’s Effectiveness,” before the Congressional Oversight Panel for the Troubled Asset Relief Program, 19 November 2009 Thank you, Chairwoman Warren for inviting me to share my views on the success of the Troubled Asset Relief Program (TARP) to date and its impact on the broader […]

As the world looks to full stabilisation and a rebound from the crisis due to the efforts of governments, clearly, it is finance rather than the real economy that has benefited more from those initiatives.  In fact, the turnaround in the financial sector, which was responsible for the crisis in the first instance, has been […]

The Killing Continues Since the suspension of the death penalty in Japan in September of 2009, the US is the only developed nation in the world that continues to execute its citizens — but, perhaps, not for long.  The unmasking of the political agenda behind state-sanctioned killing during the past 25 years and the growing […]

  This open letter was published on 9 October 2009, before the University of California Regents voted to approve a 32% tuition hike on 19 November 2009. — Ed. As students, you pay tuition in order to get an education at UC, and you know that the Regents plan to raise your tuition even higher. […]

  Introduction to Shlomo Sand, The Invention of the Jewish People by Bertell Ollman The Invention of the Jewish People is divided into two parts.  The first is a long section on the theory of nationalism, whose main characteristic, according to Sand, is the tendency to invent a past that suits the current needs and […]

  “[I]t may be surprising to learn that faculty salaries are not a major component of the total costs at most universities.  For instance, at my institution, Eastern Michigan University, faculty salaries make up only 24 percent of total expenses.  So where is the money going?” — Howard Bunsis Conclusion: Yes, these are bad economic […]

  I fear that Tom Walkom of the Toronto Star is bang on when he argues that the next victims of the recession will be public sector workers.  As he writes: The federal government has already signalled plans to get tough with its workers.  In Ontario, Premier Dalton McGuinty gave notice this week that the […]

President Obama will go to Asia and has promised to say something about the exchange rate between the Chinese yuan and the U.S. dollar.  It would be good if some enterprising journalist asked him why the United States is worried about the Chinese dumping their dollars, and why U.S. Treasury Secretary Tim Geithner recently said […]

Prabhat Patnaik.  The Value of Money.  New Delhi: Tulika Books, 2008/New York: Columbia University Press, 2009.  Excerpt: “Introduction.” Prabhat Patnaik is an eminent and prolific economist who has worked creatively for 40 years at the intersection of Marxian and Keynesian theoretical traditions.  In addition to his writings on Marxism and Keynesianism per se, he has […]

  In Mexico City on October 28, the International Tribunal on Trade Union Freedom (October 26, 2009-May 1, 2010) concluded its first of two public sessions with a scathing preliminary report that condemned President Felipe Calderón for his violent union-busting measures since taking office after his questionable 2006 election.  The Tribunal had been organized in […]

The Harold Wolpe Lecture, University of KwaZulu-Natal, 5 November 2009 In 1982, I published a book, jointly with Samir Amin, Giovanni Arrighi, and Andre Gunder Frank, entitled Dynamics of Global Crisis.  This was not its original title.  We had proposed the title, Crisis, What Crisis?  The U.S. publisher did not like that title, but we […]