In particular, the existence of a reserve army serves to discipline labor, keeping its wage demands in check, since employed workers are forced to compete with unemployed and underemployed workers for the available jobs.
Subjects Archives: Stagnation
The jungle—pandemic edition
Like nursing homes, the U.S. meatpacking industry has become one of the hotspots of the novel coronavirus pandemic.
UN Chief warns of coming recession for the Planet
Bumping elbows at the United Nations.
Inflation & the Politics of Pricing with Nathan Tankus
In this episode, we talk with Nathan Tankus, Research Director of the Modern Money Network, and Research Fellow at the Clarke Business Law Institute at Cornell Law School. We ask Nathan to expand upon and deepen his engagement with the inflation question in all its historical, political, and rhetorical complexity.
Why stagnation?
The U.S. economy has been stuck in stagnation for a decade. The GDP growth rate has been only 2.2% per year since the recovery from the Financial Crisis and Great Recession of 2008-09 began. That is far below the growth rate in past post-recession recoveries since the end of World War II.
Scientists against the machine
Jane Shallice examines the history of radical research at the British Society for Social Responsibility in Science.
Job Guarantee as Historical Struggle with David Stein
In our inaugural episode, we consider the recent resurgence of full employment politics in the United States from both a political and historical perspective with historian David Stein (@davidpstein).
Willetts the conqueror (part 5): knowledge exchange
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.
Bubbles, stocks and crashes
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.
Recession on the horizon
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.
Secular Stagnation
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.
Finance, Crisis, and Stagnation
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.
Trump’s March of Folly
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 […]
Brexit and the EU Implosion: National Sovereignty — For What Purpose?
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, Socialist Feminist
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 […]
The only force that can combat imperialism today is a worldwide struggle of workers
Marxism as a philosophy of praxis is inescapable, since it sums up the revolutionary potential for human emancipation and sustainable human development.
Are Sanders and Fair Trade a Threat to the Global Poor?
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 Challenge Before the Latin American Left
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 […]
Ellen Meiksins Wood: Some Personal Recollections
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 […]
The Liberals and Inequality, Then and Now
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 […]
