Subjects Archives: Political Economy

Consider these basic facts about the US economy today.  First, real hourly wages fell, on average, between the first quarter of 2005 and the first quarter of 2006.  At the same time, the productivity of those workers rose.  No advanced degree is required to grasp what’s happening here: workers who produced more output this year […]

On April 21, 2006, the Canadian Auto Workers (CAW) broke with a tradition that extended over half a century and voted to leave the New Democratic Party (NDP).  A few CAW activists shrugged their shoulders: the impact of the NDP on their daily struggles had been minimal, so setting it aside did not seem to […]

  As trade union and community activists, socialists, and officials in our respective union organizations, we strongly support the recent Canadian Union of Public Employees (CUPE) Ontario resolution supporting the international Boycott Israel campaign.  The resolution criticizes Israel’s continuing occupation of Palestinian territory, characterizing it as “apartheid.”  It calls on the union to develop an […]

“America is addicted to oil.”  Thus spake George W. Bush in his 2006 “State of the Union” speech. At first hearing, this sounds like a remarkable breakthrough in public discourse.  A sitting U.S. President admitting that the nation’s relationship to petroleum is one of addiction?  Sounds like a major advance in honesty, doesn’t it?  And, […]

The AFL-CIO has just formally petitioned the Bush Administration to “take immediate action to stop exploitation by the Chinese government and multinational corporations of workers in China, who are paid as little as 15 cents per hour”  (AFL-CIO, “AFL-CIO Files Workers’ Rights Case Against China ,” Press Release, June 8, 2006).  It appears that the […]

A BRIEF HISTORY OF NEOLIBERALISM by David HarveyBUY THIS BOOK Neoliberalism has left an indelible, smoldering mark on our world for the last thirty years.  Eminent Marxist geographer David Harvey, author of A Brief History of Neoliberalism (Oxford, 2005), spoke earlier this year to Sasha Lilley, of the radical radio program Against the Grain, about […]

Real wages in the US rose during every decade from 1830 to 1970.  Then this central feature of US capitalism stopped as the figures below show: Source: Labor Research Associates of New York based on data from the US Department of Labor, Bureau of Labor Statistics; wages expressed in constant 1982 dollars. 1964 $302.52 1974 […]

Faced with an explosion of pro-democracy strikes and mass demonstrations, Nepal’s King Gyanendra was forced to reinstate parliament last week. Gyanendra had abolished parliament in October 2002 and seized absolute control in February 2005, but his attempts to regain his grip through repression last month only sparked further rebellion. On April 28, the Seven-Party Alliance […]

Si el pueblo trabajador en Estados Unidos ha de alcanzar unidad, autoconfianza colectiva e independencia política en el futuro próximo (¡y cuanto nos hacen falta!), la demanda del movimiento de los trabajadores inmigrantes de derechos plenos debe ser el primer punto en su agenda.  El pueblo trabajador en este país necesita darse cuenta de lo […]

  Yiwen Cheng lives in Kansas City, and Stephen Philion lives in Minneapolis.

  SOLIDARITY FOR SALE: How Corruption Destroyed the Labor Movement and Undermined America’s Promise by ROBERT FITCH AUTHOR’S NOTE READ EXCERPT BUY THIS BOOK Michael D. Yates: Robert, let’s start off with a question not directly connected to your book Solidarity for Sale.  Some commentators say that today labor unions and labor movements are irrelevant […]

Los datos divulgados recientemente por el Banco Central de Venezuela (BCV) confirman que la economía venezolana exhibió un crecimiento de 10,2% en el cuarto trimestre de 2005 en relación con el mismo período del año anterior, acumulando la novena alza consecutiva a partir del último trimestre de 2003.  El resultado final del PIB en 2005 […]

The spin-doctors at the right-wing Cato Institute are spinning out of control.  In a syndicated editorial (Houston Chronicle, 27 February 2006), these stalwart advocates of the privatization of almost everything in heaven and earth suggest that selling (or giving — they’re not clear on this point) the Grand Canyon National Park to the Walt Disney […]

  During the twentieth century, there were two major shifts in mainstream economic thinking.  These two major changes were the Keynesian revolution of the 1930s and the return of orthodoxy on the back of the Rational Expectation and Monetarist school in the late 1960s and early 1970s.  Each of the shifts was preceded by a […]

  The US Green Party called for divestment from Israel on 21 November 2005: The Green Party of the United States (GPUS) publicly calls for divestment from and boycott of the State of Israel until such time as the full individual and collective rights of the Palestinian people are realized. . . .  The party […]

  Caracas, Venezuela — Under the elevated lines in the Kensington section of Philadelphia, the Kensington Welfare Rights Union has been waging a battle against poverty that has taken them to center stage of the World Social Forum in Caracas, Venezuela.  Led by Cheri Honkala, a formerly homeless mother, the KWRU began by building encampments […]

  I. A Brooklyn federal court in March 2005 dismissed a civil suit filed on behalf of millions of Vietnamese against U.S. chemical companies charged with war crimes for having supplied the military with Agent Orange. The dismissal was on technical grounds, not on its merits; the contention that the chemical defoliants used during the […]

Capitalism always stays focused on the bottom line — profit — but occasionally finds more than it is looking for.  Such is the case with Standard and Poor’s recent research report, “Credit FAQ: The Impact of the Rise of the Left on Latin American Sovereign Ratings” (17 January 2006).  While doing research to update the […]

  Things seem to keep going from bad to worse for workers at Northwest Airlines (NWA).  While striking mechanics and cleaners face a bitter winter after more than four months on the picket line, pilots, flight attendants, gate/ramp agents, baggage handlers, customer service reps, and other union workers face a fresh round of givebacks against […]

(Dedicated to the memory of Harry Magdoff) Right-wing faith-based politics in the US has its counterpart in faith-based economics. The school of economics that dominates education, journalism, and politics — called “neoclassical” economics — has absolute faith in two secular gods. These are private property and markets. Neoclassical economists believe that these two institutions cause […]