Subjects Archives: Political Economy

  Birgit Müller.   The Disenchantment with Market Economics: East Germans and Western Capitalism.  Translated by John Bellamy, Jennie Challender, and Kathleen Repper.  European Anthropology in Translation.  New York: Berghahn Books, 2007.  ix + 244 pp.  $80.00 (cloth), ISBN 978-1-84545-217-9; $27.50 (paper), ISBN 978-1-84545-506-4. “Disenchantment with market economics” is the type of phrase that comes […]

The media, academics, and politicians often speak and act as if government economic policies can or will “solve” or “end” or “overcome” capitalism’s crises.  They don’t.  They never have.  The often-cited counter-example,  FDR’s New Deal program in the 1930s,  failed to get the US out of the Great Depression.  World War 2 finally did that. […]

I read and reread data and articles written by smart personalities, some better known than others, who publish in various media outlets drawing the information from sources nobody questions.

  Andrew Hartman.  Education and the Cold War: The Battle for the American School.  New York: Palgrave Macmillan, 2008.  x + 251 pp.  $74.95 (cloth), ISBN 978-0-230-60010-2. Although world affairs are inherently distant from the local activity of running a school, international events can often heighten a sense of threat from abroad and a related […]

It is now a commonplace that we are experiencing the greatest economic crisis since the Great Depression of the 1930s.  The downward trajectory on a global level is similar to the 1930s, though in the United States — the epicenter of the crisis — there are indications that the rate of decline may be slowing.1  […]

  Abstract In a seminal paper on Marxian business cycle theory Goodwin (1967) presented a model, which assumed that a higher wage share leads to lower investment and thus a general economic slowdown.  In contrast Kalecki (1971) was arguing that a higher wage share would have an expansionary effect because the consumption propensity out of […]

  Robert Cassanello, Melanie Shell-Weiss, eds.  Florida’s Working-Class Past: Current Perspectives on Labor, Race, and Gender from Spanish Florida to the New Immigration.  Working in the Americas Series.  Gainesville: University Press of Florida, 2008.  320 pp.  $69.95 (cloth), ISBN 978-0-8130-3283-2. Once upon a time, but within this reviewer’s scholarly lifetime, the primary focus of labor […]

  The exit from the systemic crisis of capitalism needs to be political, and “a socialist project can mature in this turbulence.”  So says the Argentine economist, philosopher, and sociologist Claudio Katz, who also warns that the “global economic situation is very serious and is going to have to hit bottom, and now we are […]

Capitalism has generated recurring “crises” everywhere and throughout its history.  It alternates bursts of growth and prosperity with crisis periods when many workers lose jobs and homes, bankruptcies close enterprises, production shrinks, and governments reduce public services.  Growth periods almost always promote speculation, overproduction, inflation, and excess debts that crises then erase or even reverse.  […]

There is a difference between the outlook of a secular generation of Iranian youth, yearning for a life in which religion (in the form of a clergy directing a theological state) refrains from meddling in their personal lives and individual fates as citizens, and the foreign and domestic policy considerations of the reformist trend.  A […]

The global recession is still very much with us, despite the recent attempts by media and some policy makers especially in the North to dismiss it as almost over, and to find some indications of the “green shoots” of recovery in almost each item of economic and financial news.  But even as the downturn continues […]

  Chicago What are the banks doing with the bailout billions taxpayers gave them, to help us on the road to economic recovery? In the case of Wells Fargo and the Quad City Die Casting (QCDC) factory in Moline, Illinois, nothing good.  In fact the bank is a huge roadblock to recovery.  That’s why on […]

On Thursday the 4th of June, at the Islamic University of Al-Azhar in Cairo, Obama gave a speech of special interest to those of us who are closely following his political actions given the enormous might of the superpower he leads. I cite his very own words to indicate what I think are the basic ideas he expressed, thus summarizing his speech to save time. Not only do we have to know that he spoke but also what he said.

Jeff Madrick.  The Case for Big Government.   Princeton University Press, 2009.  205 pp.  ISBN 978-0-691-12331-8 (Hardcover). In The Political Economy of Growth, Paul Baran argued that the increased role of the US government in post-New Deal America did not solve the contradictions of monopoly capitalism but merely “removed the onus for the malfunctioning of […]

Yesterday on May 31st, an AFP dispatch read: “Cuba has accepted to reopen negotiations with the United States about migration and direct mail service, a new signal of the thaw that is happening just before an Organization of American States (OAS) Summit where the Cuban situation will dominate conversations.

Part 1 Part 2 Minqi Li is Assistant Professor of Economics at the University of Utah and the author of The Rise of China and the Demise of the Capitalist World Economy among other publications.  This lecture was delivered at the Marxist School of Sacramento on 21 May 2009. 

Chavez is an indefatigable educator. He does not hesitate in describing what capitalism means. One by one he takes apart all its lies. He is relentless.

JOHANNESBURG, 26 May 2009 (IRIN) — Food prices will rise again by 2015, when economies are expected to have recovered from the global recession, pushing up demand once more, says a recent UN report. 2008 is seen as the year of food crises, prompted in part by high fuel prices, but these started declining as […]

C. Wright Mills created the concept of a “power elite;” he imported the term “New Left” from Europe to the United States, and he was among the first to catch the phrases “paradigm” and “postmodern.”  A global thinker in a square era, he was everything postwar America was not: radical, original, and hip.  His work […]

Five days ago I read a press report stating that Ban Ki-moon would appoint Bill Clinton as his special envoy for Haiti.