Subjects Archives: Political Economy

The following report on the 2009 AFL-CIO Convention in Pittsburgh is posted by Jerry Tucker, special correspondent to the Monthly Review and MRZine.  Tucker is a former International Executive Board Member of the UAW and a founder of the New Directions Movement within that union.  He is also a co-founder of the Center for Labor […]

  The momentous decision to reject any public option by the Senate Finance Committee today underscores how completely private insurance companies dominate Congressional activity.  The author of the bill for the committee, Liz Fowler, is herself a former VP of WellPoint, the nation’s largest private health insurer.  This highlights the importance of the single payer, […]

The final declaration from the G-20 Summit in Pittsburgh on Friday, September 25 seems unreal. Let’s have a look at the main points in its contents:

  Anastasia Pinto is executive director of the Center for Organizing, Research and Education in India.

  The Obama administration’s decision to scrap the Bush era anti-missile defense plans in Eastern Europe was actually expected.  Nonetheless, this was a very pragmatic move on the part of Washington.  However, the immediate talk and plans for a different American-led “stronger, smarter, and swifter” anti-missile strategy was not helpful.  I will reserve judgment on […]

It started with a Single Payer caucus at 8 in the morning where Mark Dudzic, Rose Ann DeMoro, and others brought us up to date on how they saw the day unfolding. The two-resolution agreement was holding up.  The resolutions would be discussed after the Obama speech.  The general sentiment of the meeting was that […]

Exactly one year ago, the Wall Street investment bank Lehmann Brothers was allowed to go bust, in a move that is generally seen to have brought on the global financial crisis.  Shock waves hit the financial markets; stock markets collapsed in waves of contagion across the world; credit seized up in most developed and many […]

BMR:What is the likely impact of the present financial crisis on geopolitics, especially if the crisis is considered in the context of the energy crisis including the peak oil issue, the food crisis, The Great Hunger, the environmental crisis, and the declining dollar?  Will the world experience war(s) as an effort to survive?  Will monopoly-finance […]

When I first met Michael Moore more than 20 years ago he was showing a half-finished documentary to a few dozen people in a classroom in Ann Arbor, Michigan. It was funny and poignant and had a powerful message. He had taken a second mortgage on his house — equipment for filmmaking was a lot […]

I would not have wished to utter any harsh criticism against any of the companies that manufacture medical equipment, whose profits do not derive from the production of weapons to kill, but from the combat of diseases, suffering and death. That is why I have always treated all of them with respect, and I liked to exchange with them about their scientific advances.

  Michael Moore Presents Capitalism: A Love Story at the 66th Venice Film Festival Michael Moore: “It’s Not Possible to Believe in Capitalism and Democracy at the Same Time” Trailer For more information about Michael Moore’s new film, go to <www.michaelmoore.com> and <www.capitalismalovestory.com>.

The unemployment rate hit 9.7 percent in August, up from 9.4 percent in July. According to the establishment survey, the economy shed 216,000 jobs in August. In addition, the job loss numbers for June and July were revised up by 49,000. This puts the average rate of job loss over the last three months at […]

  Martin V. Melosi, Joseph A. Pratt, eds.  Energy Metropolis: An Environmental History of Houston and the Gulf Coast.  Pittsburgh: University of Pittsburgh Press, 2007.  vii + 344 pp.  $27.95 (paper), ISBN 978-0-8229-5963-2; $60.00 (cloth), ISBN 978-0-8229-4335-8. Much of the American past is connected to the growth of cities.  Throughout the late nineteenth and twentieth […]

I was amazed to read the wire services issued during the weekend about the US domestic policy, evidencing a systematic decline in President Barack Obama’s influence. His surprising electoral victory had not been possible in the absence of the deep political and economic crisis affecting that country. The American soldiers killed or wounded in Iraq, the scandal about tortures and secret prisons, and the loss of jobs and housing had shaken the American society. The economic crisis was spreading throughout the planet, thus increasing poverty and hunger in the Third World countries.

  There is growing anger in Swaziland as it emerges that the media have been forced to censor news that a group of King Mswati III‘s wives have been on another international shopping trip squandering up to E50 million (6 million US dollars) that should belong to ordinary Swazis. When the wives went on a […]

John Bellamy Foster and Fred Magdoff, The Great Financial Crisis (Monthly Review Press, 2009). One of the few boom industries in times of slump, it seems — aside from private security firms, debt collection agencies and porn — is the publication of books about slumps. Everyone from Vince Cable to Newsnight economics editor Paul Mason […]

A short while ago I dealt with the United States’ plans to impose the absolute superiority of its air force as an instrument of domination on the rest of the world. I mentioned the project that by 2020 they would have more than a thousand latest generation bombers and F-22 and F-35 fighter planes in their fleet of 2500 military aircrafts. In twenty more years, every single one of their war planes will be robot-operated.

[Edited to add: See recommended movie link at bottom of post]

  For many years, various American governments have called on Israel to stop the expansion of settlements, but Israel has consistently ignored this demand.  The Obama administration has been the most vocal administration so far in articulation of this demand.  Yet unfortunately a number of American individuals and institutions have provided large quantities of material […]

The Great Recession is allowing some widely held beliefs about the U.S. economy — which were the source of much evangelism over the last few decades — to run up against a reality check.  This is to be expected, since the United States has been the epicenter of the storm of policy blunders that caused […]

During recent weeks, the current president of the United States has insisted in demonstrating that the crisis is abating as a result of his efforts to confront the serious problem that the United States and the world inherited from his predecessor.