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Monthly Review Volume 64, Number 4 (September 2012)

Monthly Review Volume 64, Number 4 (September 2012)

» Notes from the Editors

Last May President Obama signed a proclamation establishing the “Commemoration of the 50th Anniversary of the Vietnam War,” meant to last for thirteen years, from Memorial Day 2012 to Veterans Day 2025, and to be conducted by the U.S. Department of Defense. A few days later, on Memorial Day, Obama gave a speech…. [declaring] that the Vietnam War represented a “national shame, a disgrace that should never have happened.” But the “national shame” to which he referred was not due to the deaths of several million people, nor atrocities like the My Lai Massacre, the unleashing of chemical weapons (most notoriously Agent Orange), and the U.S. war machine’s use of more than twice the explosive power in the Vietnam War as employed by all sides in the Second World War…. [F]or Obama, the “national shame” was that returning U.S. troops were not always “welcomed home,” were often “blamed for the misdeeds of a few,” and were “sometimesdenigrated”—despite the fact that they had made enormous sacrifices in a war that they “didn’t start.”… It should be obvious…that the current plans for an extended Commemoration…. is an attempt to rewrite history and to erase from the national memory the basic facts about the most horrendous imperialist (North-South) war of the twentieth century, as well as the most unpopular war in U.S. history.… | more |

Implosion of the European System

Majority opinion in Europe holds that Europe has all it takes to become an economic and political power comparable to, and consequently independent of, the United States…. I believe that Europe suffers from three major handicaps that rule out such a comparison. First of all, the northern part of the American continent…is endowed with natural resources incomparably greater than the part of Europe to the west of Russia…. Secondly, Europe is made up of a good number of historically distinct nations whose diversity of political cultures…has sufficient weight to exclude recognition of a “European people”… In the third place…capitalist development in Europe was and remains uneven, whereas American capitalism has developed in a fairly uniform way throughout the northern American area, at least since the Civil War. Europe, to the west of historic Russia…is composed of three unequally developed sets of capitalist societies.… | more |

The Crisis

A View from Occupied America

The theme of the 2012 Left Forum, “Occupy the System—Confronting Global Capitalism,” calls for a historical imagination informed by a realistic sense of where we are. To occupy the system is first to be aware of the system as a system—a system of unequal privilege and control. It requires that we occupy the narrative of public debate, which is something the Occupy movement, to a remarkable degree, has been able to achieve. Even President Obama, who so far has followed the economic policies of his Wall Street-friendly advisers, has used campaign rhetoric taken from Occupy Wall Street. But this time around voters are hardly convinced that the “Change” Obama promised last election will happen through the existing system. The breath of fresh air from Occupy and related activism challenges corporate power and capitalism.… | more |

What it means

Marge Piercy is the author of eighteen poetry books, most recently The Hunger Moon: New & Selected Poems, 1980–2010 from Knopf. Her most recent novel is Sex Wars (Harper Perennial) and PM Press has republished Vida and Dance the Eagle to Sleep with new introductions.… | more |

Paramilitaries in Haiti

His right eye blinked furiously, swollen and red; he continued to rub it…. Louis-Jodel Chamblain, the man sitting across from me, had been a commander of the paramilitary force…known as the Revolutionary Front for the Liberation of Haiti—also known as the Front for the National Liberation and Reconstruction of Haiti, or FLRN…. He was also a cofounder in the mid–1990s of the Front for the Advancement and Progress of Haiti (FRAPH) death squads. According to Human Rights Watch, the FRAPH took part in the killing of at least 4,000 people as well as in thousands of rapes and other acts of torture. Before cofounding the FRAPH, Chamblain had served with the Tonton Macoutes, the infamous paramilitary arm of the Duvalier dictatorship, which according to human rights organizations was responsible for killing tens of thousands of people and victimizing many more.… | more |

Cuba: The New Global Medicine

Cuba is remaking medicine in a remarkable diversity of cultures in Latin America, the Caribbean, Africa, Asia, and the Pacific Islands. Its efforts go far beyond providing medical care to other parts of the world as a Western approach might limit itself to doing. The Cuban project develops bilateral agreements with host countries to rethink, redesign, and recreate medicine.… | more |

Trampling Out the Sanctimony

Frank Bardacke, Trampling Out the Vintage: Cesar Chavez and the Two Souls of the United Farm Workers (London: Verso, 2011), 848 pages, $54.95, hardback.

This big book is great U.S. history. A solid, comprehensive, richly detailed, brilliantly composed study of a major post-1960 movement in U.S. labor, it is also a dramatic narrative vivid with critical analysis of the movement’s developing strengths and faults, and thick with lessons for the struggles of today’s left.… | more |

A Wisconsin Enigma

Mass Struggle, Then What?

Michael D. Yates, editor, Wisconsin Uprising: Labor Fights Back (New York: Monthly Review Press, 2012), 282 pages, $18.95, paperback.
John Nichols, Uprising: How Wisconsin Renewed the Politics of Protest, from Madison to Wall Street (New York: Nation Books), 117 pages, $18.50, paperback.

It is curious as well as enormously exciting to be surrounded by a mass movement, full of enthusiasm, energy, and eagerness to adopt labor slogans and labor songs, almost as if the 1930s and ‘40s had come back. And it is all the more curious because the emergence of the movement seemed so spontaneous and unexpected, taking every Marxist (and any other) would-be savant by surprise, your reviewer most definitely included. Eighteen months and a major electoral defeat later, the “Wisconsin Uprising” goes on, with dampened spirits but a continuation of innovative extras. One small example is the “Overpass Light Brigade,” a group of urban guerillas who hold LED-lit slogans in various spots of the state, ridiculing Governor Scott Walker and his lackeys, until the cops arrive. But where is it going?… | more |

Medicine and Empire

Howard Waitzkin, Medicine and Public Health at the End of Empire (Boulder, CO: Paradigm Publishers, 2011), 256 pages, $25, paperback.

For the past three decades Howard Waitzkin has been (along with Vicente Navarro) the leading social medicine theorist in the United States. Medicine and Public Health at the End of Empire provides a superb sampling of Waitzkin’s wide-ranging work, and a readily accessible introduction to the searching insights offered by a Marxist view of medicine.… | more |

Monthly Review Volume 64, Number 3 (July-August 2012)

Monthly Review Volume 64, Number 3 (July-August 2012)

» Notes from the Editors

As the economies of Europe, North America, and Japan continue to stagnate orthodox economics has revealed itself to be bankrupt, unable to explain what is happening much less what to do about it. It was not the failure to see the “Crisis of 2008” coming that represents the economics profession’s biggest failure, Paul Krugman declared in a recent talk, but what came after: “the profession’s descent into uninformed quarreling,” coupled with its reversion to Say’s Law (the notion that supply creates its own demand)—the disproof of which was the main achievement of the Keynesian revolution.… Yet… [no] prominent orthodox analyst, has sought to engage in a genuine overhaul of received economics on the level of what Keynes accomplished in the 1930s. Indeed, no such scientific revolution appears possible within mainstream economics today, which is characterized not by its realism but its irrealism—serving now an entirely ideological function. Here one is reminded of Paul Sweezy’s observation nearly fifty years ago: “Bourgeois economics, I fear, has irrevocably committed itself to what Marx called ‘the bad conscience and evil intent of apologetic.’ If I am right, Keynes may turn out to be its last great representative”… | more |

Introduction to Special Issue on the Critique of Economics

Fifty years ago this month two chapters, “The Giant Corporation” and “On the Quality of Monopoly Capitalist Society—I,” of Paul Baran and Paul Sweezy’s then forthcoming book, Monopoly Capital, were published in a special issue of Monthly Review. Among the other chapters in rough draft form by the end of 1962 were “Some Implications for Economic Theory” (later to be re-entitled “Some Theoretical Implications”) and “On the Quality of Monopoly Capitalist Society—II.” However, Baran’s death in March 1964, before the book was finished, left some unresolved questions with regard to these chapters. Consequently, Sweezy decided to leave these two chapters out of the book when it was finally published in 1966.… This special issue of Monthly Review is organized around the publication of one of these missing chapters of Monopoly Capital: “Some Theoretical Implications.”… | more |

A Missing Chapter of Monopoly Capital

Introduction to Baran and Sweezy’s “Some Theoretical Implications”

Monopoly Capital: An Essay on the American Economic and Social Order by Paul A. Baran and Paul M. Sweezy, published in 1966, is one of the foundational works in the development of Marxian political economy in the United States and indeed the world, and is today recognized as a classic, having generated more than four-and-a-half decades of research and debate. The completion of the book, however, was deeply affected by Baran’s death, on March 26, 1964, two years before the final manuscript was prepared. Although all of the chapters were drafted in at least rough form and had been discussed a number of times the authors had not mutually worked out to their complete satisfaction certain crucial problems. Consequently, two chapters were left out of the final work.… What happened to these two missing chapters—“Some Implications for Economic Theory” and presumably “On the Quality of Monopoly Capitalist Society—II”—remained for many years a mystery. … | more |

Some Theoretical Implications

Some Theoretical Implications

That all is not well in the realm of bourgeois economic theory is strongly felt by its closest observers. Professor Mason’s blunt statement that “the functioning of the corporate system has not to date been adequately explained,” could hardly be contradicted by anyone familiar with contemporary economic literature. Its most conspicuous feature is, indeed, this very failure to come to grips with the most important aspects of what, one would think, should constitute its central problem.… The reasons for this striking reluctance to place the realities of modern capitalism where they belong: at the center of theoretical attention, are not far to seek… There can be no doubt that the model of a perfectly competitive market economy is “more tractable,” that the examination of its manifold properties is more readily achievable by means of conventional tools of economic analysis than that of a system dominated by oligopolistic corporations. It may not be economics’ claim to applause, but it is understandable that most of its practitioners prefer not to tackle “intractable” matters, but to move along the line of the least theoretic resistance.… | more |

Last Letters

Correspondence on “Some Theoretical Implications”

These “Last Letters” were written by Baran and Sweezy in late February and early March 1964 and concerned “Some Theoretical Implications,” a chapter that Baran had drafted in 1962 and that they were then revising for their book Monopoly Capital. The discussion was cut short by Baran’s death around two weeks later.… They are published here for the first time.… | more |

The Surplus in Monopoly Capitalism and the Imperialist Rent

Paul Baran and Paul Sweezy dared, and were able, to continue the work begun by Marx. Starting from the observation that capitalism’s inherent tendency was to allow increases in the value of labor power (wages) only at a rate lower than the rate of increase in the productivity of social labor, they deduced that the disequilibrium resulting from this distortion would lead to stagnation absent systematic organization of ways to absorb the excess profits stemming from that tendency.… This observation was the starting point for the definition that they gave to the new concept of ’surplus.”… I have always considered this bold stroke as a crucial contribution to the creative utilization of Marx’s thought.… but [Baran and Sweezy] refused to stop, like so many other Marxists, at the exegesis of his writings.… Having, for my part, completely accepted this crucial contribution from Baran and Sweezy, I would like, in this modest offering for the special issue that Monthly Review is devoting to honoring their work, to put forward a ’quantitative metric” of that surplus.… | more |

The GDP Illusion

Value Added versus Value Capture

The ’GDP Illusion” is a fault in perception caused by defects in the construction and interpretation of standard economic data. Its main symptom is a systematic underestimation of the real contribution of low-wage workers in the global South to global wealth, and a corresponding exaggerated measure of the domestic product of the United States and other imperialist countries. These defects and distorted perceptions spring from the neoclassical concepts of price, value, and value added which inform how GDP, trade, and productivity statistics are devised and comprehended. The result is that supposedly objective and untarnished raw data on GDP, productivity, and trade are anything but; and standard interpretations conceal at least as much as they reveal about the sources of value and profit in the global economy.… | more |

Keynes, Steindl, and the Critique of Austerity Economics

Austerity is now ’in fashion,” as governments respond to the revenue shortfalls of the crisis through deficit reduction plans and fiscal stability pacts, and economists blame it on the profligate spending of households and countries. Consumers, they say, bought houses they could not afford and countries consumed more than they produced, while loose monetary policies made this spending possible. Governments ’got prices wrong,” keeping interest rates too low for too long, and while increases in government spending might alleviate current employment problems, this deficit spending is inflationary, and in any case will not help in the long run as budget deficits raise interest rates, ’crowding out” business and household spending. It is as if we have stepped back in time, to the depression years of the 1930s, when monetary theories of the cycle were dominant, the ’overinvestment” of the boom blamed for the downturn, and effective fiscal actions proposed by Keynes and others blocked by preoccupation with the public debt and its burdens.… The analysis here is concerned with the systematic rejection of Keynes’s and Kalecki’s revolution in economics and the resurrection of Say’s Law (supply creates its own demand) of pre-Keynesian economics in all but name—a view that underlies today’s austerity economics. … | more |

Two Pauls

In 1957, when I was young and thought I knew everything, I was just about to go to graduate school in economics. Then I read Paul Baran’s The Political Economy of Growth. I immediately sent him an eight-page, single-spaced review of his book. I said that I liked it very much, but had some questions about it. Paul wrote back asking me to become his research assistant and study at Stanford. Unfortunately he could pay so little that it covered only half the tuition. I could not afford it.… [But] I did visit Paul about once every two weeks. He welcomed me because his colleagues had isolated him due to their fears of the witch hunt. The reason he had offered me so little was that Stanford would not give him more money for any purpose. Paul had tenure, but the alumni were angry that he was not fired for his outspoken opposition to U.S. imperialist aggression against Cuba.… | more |

Monthly Review Volume 64, Number 2 (June 2012)

Monthly Review Volume 64, Number 2 (June 2012)

» Notes from the Editors

By any measure, Adrienne Rich lived an exemplary life. When she died last March 27, aged eighty-two, she was acknowledged by many critics as perhaps this country’s foremost poet.… Throughout her writing life, Adrienne Rich’s vision of a better world was clear. In her 2008 collection A Human Eye: Essays on Art in Society Rich claimed Che Guevara, Karl Marx, and Rosa Luxemburg as defining heroes. It did not matter if she was speaking to a room full of undergraduates or, having made the long painful climb up the hill to the Women’s Correctional Facility in Bedford Hills, New York, to teach poetry to its inmates, Adrienne’s voice was trenchant. So it was not surprising that when the commercial media ran obituaries of her, they sanitized her life and work, giving more emphasis to her awards than her work, characterizing her as angry rather than radical. At MR however, we preferred to hear her words: “Responsibility to yourself means refusing to let others do your thinking, talking, and naming for you; it means learning to respect and use your own brains and instincts; hence, grappling with hard work” (from “Claiming an Education,” 1977).… | more |

Harmony and Ecological Civilization

Beyond the Capitalist Alienation of Nature

When I consider the concept of harmony in the context of humans, their societies, and the environment I have a particular understanding of the concept. It refers to all people living together peacefully without exploitation of one person by another, each able to reach his or her full human potential, in a society in which everyone has their basic material and nonmaterial needs satisfied, feels secure, safe, happy, and fulfilled as human beings. In addition, the concept also implies harmony between people, the environment, and the other species we share the planet with.… [But] there is an overriding issue when considering harmony as I have briefly described it. Harmony in the world—among its people and between humans and the rest of the ecosystems—is not possible in the context of capitalism. Capitalism…has shown that it fosters interpersonal relations and metabolic interactions with the earth that are detrimental to achieving a harmonious existence.… | more |

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