Subjects Archives: Political Economy

The current global financial crisis is said to originate with a few dodgy “sub-prime” mortgages made by US banks to poor people. Yes, the financial crisis that began in late 2007 is associated with the collapse of the sub-prime mortgage market.  But that is just one aspect of a much larger financial crisis and that […]

See, also, Stephanie Luce, “The Future of the Labor Movement? Reflections on the Labor Notes Conference,” MRZine, 22 April 2008; and Dave Regan, “Why We Demonstrated in Dearborn,” MRZine, 2 May 2008. I am not surprised Dave Regan doesn’t remember our argument.  I am sure he hears my concerns all the time, but the conversation […]

As May Day approaches, there are four things that are worth remembering: For workers, May Day does not celebrate a state holiday or gifts from the state but commemorates the struggle of workers from below. The initial focus of May Day was a struggle for the shorter workday. The struggle for the shorter workday is […]

John Bellamy Foster, Marxist ecologist and editor of Monthly Review, addressed the Climate Change I Social Change Conference on “Capitalism and Climate Change,” Sydney, April 11, 2008.  Foster’s talk was part of a panel discussing “Climate Change and Its Social Roots.”  The conference was organized by Green Left Weekly.  Below is Foster’s talk in five […]

When I was growing up in the 1950s, a photo of President Franklin Delano Roosevelt (1932-1945) still hung in the homes of some family members and friends.  Our only four-term president was remembered by them as the leader — and even the savior — of the country.  Those like my parents, who experienced the Great […]

MRZine must be commended for its recent publication of Mike Friedman’s interview with Nicaragua’s Comandante Mónica Baltodano.  It is especially welcome because there has been a dearth of information and analysis about Nicaragua in the English-language world ever since the 1990 electoral defeat of the revolution.  That in some ways is puzzling because the actions […]

The US media and party election machines have once again transformed the run-up to the US elections into a melodrama.  Across the country, party candidates have been swaggering across stages, surrounded by stars and stripes and CNN logos, to spew out the latest piece of propaganda that the spin doctors have managed to conjure up.  […]

  March 20, 2008, destined to be another day of infamy.  On this date the US officially declared war on Iran.  But it’s not going to be the kind of war many have been expecting. No, there was no dramatic televised announcement by President George W. Bush from the White House oval office.  In fact […]

Tuesday, March 18 marked the fifth anniversary of the arrest of more than 70 quislings, the capos of imperialism’s fifth column in Cuba who, paid by the U.S. government, violate the laws of the land and share the opinion that this dark corner of the world should be swept off the map. On that date…

In this reflection I will go by news received from different sources, including international cable services, –without specifically recognizing any of them as the information source, but strictly abiding by the text of the news- books, documents, the Internet, and even questions asked to well-informed sources.

Barack Obama’s speech on race, the greatest speech by a major American political figure in decades, elevates the discussion of race in America to a new level.  What makes this speech so powerful is not only what he said, but also what it requires us to ask and what it demands that we reply.  With […]

The world appears to be on the verge of an economic crisis and, if it turns out to be as serious as some think, one that could rival or exceed the great panics of the late nineteenth century and the decade-long Great Depression.  The crisis began with unscrupulous mortgage lending on an enormous scale, leading […]

The empire is not resigning itself to being the only loser at the Rio Group meeting held in Santo Domingo on March 7. It wants to set up the bloody mess once more. That is not difficult to demonstrate.

  A coalition of Mexican unions and social movements has been calling for a continental workers’ campaign for a living wage and social justice in the three NAFTA (North American Free Trade Agreement) countries.  The original call was made in November 2006 (see Richard Roman and Edur Velasco, “Mexican Workers Call for a Continental Workers’ […]

Left Forum 2008 Each spring in New York City, Left Forum gathers intellectuals and activists from around the world to address the burning issues of our times.  The theme for 2008 is “CRACKS IN THE EDIFICE.”  We will examine the context of an empire in the throes of collapse and discuss the possibilities for social […]

As global finance’s house of cards implodes, Bush and Congress fiddle and Bernanke Fedles.  When sub-prime mortgages defaulted, debt-backed securities tanked, and credit everywhere contracted.  Business investment then shrank as did consumer spending.  Recession now looms in the US if it is not already here.  Worry deepens that it might get very bad and last […]

Abstract The global economic system has come to be dominated de facto by institutions subscribing to and enforcing the neoliberal agenda.  Since the end of World War II, these institutions have sought not only to regulate but, in a manner reminiscent of classical colonialism, to control global resources facilitated by the emergence of the neoliberal […]

  The events in Kenya after the much criticized and controversial elections of 27 December 2007 have exposed the planned failures of our nascent democracy and the ideological rot and inadequacy across the Kenyan body politic.  This has left many wondering what actually went wrong.  I posit that an ideologically bankrupt political process that revolves around access […]

Just as the slump in the US economy threatens to trigger a global recession, Australian authorities have pronounced inflation ‘public enemy number one’ and are trying to slow growth.  They tell workers to ‘exercise wage restraint’. Australian Prime Minister Kevin Rudd, Industrial Relations Minister Julia Gillard and Treasurer Wayne Swan sing the same tune: workers […]

The ideology of neoliberal globalization has been on a roll since the early 1980s.  It was not in fact a new idea in the history of the modern world-system, although it claimed to be one.  It was rather the very old idea that the governments of the world should get out of the way of […]