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Subjects Archives: Political Economy

The New Globalized Auto Plant Corridor

Globalization, 2: US Autoworkers, 0

The recent UAW ratification of the Chrysler contract that contains many of the same provisions that were adopted in the labor agreement signed with GM last month is another major blow to the jobs and welfare of US autoworkers.  Globalization, the Big Three’s grand strategy of pitting the workers of North America against one another […]

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Financial Capital: Crises Are Part of the Game

Everything went well during the summer of 2007.  The economy was in an upswing and stock-market prices rose even faster.  Then the end of the housing boom in the United States triggered an international financial crisis.  Up to now it has been contained by heavy central-bank intervention; but the euphoria is gone.  The world of […]

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Rick Wolff

Our Sub-prime Economy

What matters most in economics often gets the least attention.  So it is with the link between wages and productivity: what workers get paid versus the value of what they produce.  Most commentators focus elsewhere.  They hype what their employers want to see or what they want others to believe.  Stock boosters see market upswings […]

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Quick Thoughts on Carbon Sequestration

How do we mitigate climate change?  A fashionable suggestion is technologically intensive carbon sequestration.  That, however, is an excessively expensive and probably technically impossible method of capturing significant amounts of carbon.  Another popular suggestion for sequestering carbon is planting trees. A more traditional method — building up the soil — which is better for the […]

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Today’s Neoliberal Hero — the Village Usurer

  Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review.  Its September 2007 issue features the following editorial. — Ed. No truths are more vigorously avoided, disguised and denied in our media than the disastrous and devastating results for the majority of the post-1991 economic “reforms” and the […]

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The Rapist Returns: More Lessons from Katrina’s Aftermath

  In the big business media’s “two years after Katrina” coverage, there was one glaring omission — the story of the utter bankruptcy of the so-called Black leadership, in particular, the Black Democratic Party establishment.  Nothing confirms that story better than the brief appearance in New Orleans on August 29 of President George W. Bush.  […]

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Rick Wolff

Financial Panics, Then and Now

The authors of the most widely read book on financial panics (Manias, Panics, and Crashes: A History of Financial Crises, Fifth Edition, 2005) refer to them as “hardy perennials” and document how they have repeatedly devastated large portions of modern economies and societies over the last three centuries.  Charles Kindleberger (a professor of economics at […]

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New Departures in Marxian Theory

Opening Doors to New Alliances: A Review of New Departures in Marxian Theory by Stephen A. Resnick and Richard D. Wolff

  NEW DEPARTURES IN MARXIAN THEORY by Stephen A. Resnick and Richard D. Wolff BUY THIS BOOK Being a Marxist requires considerable gumption — especially in the United States.  Those who take Marxism seriously in a hostile intellectual and political environment are only too aware of this struggle.  At worst, interest in Marxism is perceived […]

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Turkish Elections and After

The July 2007 elections ended with results beyond the expectations of most observers.  We will watch for possible coming earthquakes. To explain the AKP’s election victory, in addition to the AKP’s own tactics and policies, exogenous factors should be taken into consideration.  These include the large vacuum at the centre right and center left of […]

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