Subjects Archives: Political Economy

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 […]

Harry Magdoff — coeditor of Monthly Review since 1969, socialist, and one of the world’s leading economic analysts of capitalism and imperialism — died at his home in Burlington, Vermont on January 1, 2006. Harry Magdoff was born on August 21, 1913 in the Bronx, the son of working-class Russian Jewish immigrants.  His father worked […]

The US pension systems for workers are now widespread disasters.  Many corporations and many cities and states lack the money to pay all the benefits they have promised and legally owe to present and future retirees.  Estimates of the shortfall range around $450 billion in the private sector plus at least another $300 billion in […]

The threatened New York City Transit strike is just the latest sign of a growing labor-management confrontation across the US railroad system. While the workers of Transit Workers Union 100 battle off attacks on their pensions and health care, Bush Administration hirelings on the Amtrak Board prepare to launch an assault on the national passenger […]

Two URPE Insights First, I should start by assuring you that I have not gone round the bend. I am not about to suggest that we dust off our volumes of Capital, corner some poor unsuspecting soul, and then launch into some long-winded exegesis of the concept of commodity fetishism. That sounds more like a […]

  A cross-Canada week of action in solidarity with Haiti will be kicked off by a November 12 demonstration on Parliament Hill in Ottawa. Solidarity committees are springing up across the country, objecting to the central role that the Canadian government played, along with France and the United States, in overturning the democratically-elected government of […]