In addition to subsumption of teaching and research, the third mission of neoliberal marketisation has been termed, “knowledge exchange.” The introduction of this mission represents not only a fundamental attack on the academic profession, but also a desperate attempt to marshal the knowledge-producing powers of universities to kick-start a stagnating post-crisis global economy.
WHAT is happening in the U.S. economy provides an object lesson on the functioning of neo-liberal capitalism. Pre-first world war capitalism which had witnessed the long Victorian and Edwardian boom had relied on the colonial arrangement for the system’s dynamics.
There are strong reasons to expect a recession within the next year or so. And it will likely hit an increasingly vulnerable working class hard.
The fundamental changes I would advocate are those that would: dramatically boost worker power; secure a progressive and growing funding base for a needed expansion of public housing and infrastructure and public spending on health care, education, and transportation; and end the production and use of fossil fuels and significantly reduce greenhouse emissions.
In this presentation Mexie begins to elaborate the theory of monopoly capitalism developed by Paul Baran and Paul Sweezy, incorporating recent theoretical development by John Bellamy Foster and Robert McChesney. Mexie has produced a number of other videos on the topic as well.
The Trump White House is neofascist in terms of its political base, its ideology, and the policies it is advocating. The rest of the U.S. state, the Congress, the judiciary… are not at present neofascist. So we are in a period which is analogous to what the Nazis called Gleichschaltung (bringing into line), which means […]
The defense of national sovereignty, like its critique, leads to serious misunderstandings once one detaches it from the social class content of the strategy in which it is embedded. The leading social bloc in capitalist societies always conceives sovereignty as a necessary instrument for the promotion of its own interests based on both capitalist exploitation […]
Joan Acker, who died on June 22, 2016, was one of the foremost socialist feminists of the late twentieth and early twenty-first centuries. Her work about gender and class drew much of its creativity from a continual though uneasy engagement between feminism and Marxism. She was one of the initial subscribers to Monthly Review, beginning […]
Marxism as a philosophy of praxis is inescapable, since it sums up the revolutionary potential for human emancipation and sustainable human development.
On April 24, 2013, some 1,134 people died in the collapse of the Rana Plaza complex outside Dhaka, the capital of Bangladesh. The building housed factories where low-wage workers, largely women, stitched garments for the U.S. and European markets. For several years before the disaster a number of U.S. opinion makers — notably New York […]
The Left upsurge in Latin America appears to be abating. In October 2015 Jimmy Morales, the conservative candidate in Guatemala, defeated the Left-leaning Sandra Torres in the presidential elections. On November 22, Mauricio Macri, the conservative presidential candidate in Argentina, defeated Daniel Scioli, his Peronist rival, by a narrow margin, to bring to an […]
In my graduate class on Political Economy at the University of Oregon this term we are reading two books by Ellen Meiksins Wood: The Retreat from Class and Democracy Against Capitalism. Tomorrow, when the class meets, I will have to inform the students of Ellen’s death on January 14. I have been thinking about what […]
Articles on income equality sometimes note that the U.S. economy hasn’t faced the current level of disparity since 1928, on the eve of the Great Depression. There has been much less discussion of the responses to the issue back then, even though income inequality was a major concern for policymakers as the Depression deepened and […]
The Greek People are an example to Europe and the world. With courage and lucidity the Greek people have rejected the ignoble diktat of European and international finance. They have won a first victory by affirming that democracy cannot exist unless it knows how to put itself at the service of social progress. They have […]
John Bellamy Foster and Robert W McChesney. The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China. New York: Monthly Review Press, 2012; Kharagpur, India: Cornerstone Publications, 2013. pp x + 227. Rs 150. The secular decline of decadal average annual real gross domestic product (GDP) growth rates of the […]
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