Given [the] background of high unemployment, lower-wage jobs, and smaller portions of the pie going to workers, it should come as no surprise that, according to the U.S. Census Bureau, nearly 50 million people in the United States live in poverty (with income in 2011 below $23,021 for a family of four) while another 50 million live between the poverty level and twice the poverty level—one paycheck away from economic disaster. Thus, the poor (those in poverty or near poverty), most of whom belong to the working poor, account for approximately 100 million people, fully one-third of the entire U.S. population.… Wage repression and high unemployment are the dominant realities of our time. A vast redistribution of income—Robin Hood in reverse—is occurring that is boosting the share of income to capital, even in a stagnating economy. Is it any wonder, then, that for years on end polls have shown a majority of the population agreeing with the statement that the United States is on the wrong track and not headed in the right direction?
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.
The debates concerning the present and future of China—an “emerging” power—always leave me unconvinced. Some argue that China has chosen, once and for all, the “capitalist road” and intends even to accelerate its integration into contemporary capitalist globalization. They are quite pleased with this and hope only that this “return to normality” (capitalism being the “end of history”) is accompanied by development towards Western-style democracy (multiple parties, elections, human rights). They believe—or need to believe—in the possibility that China shall by this means “catch up” in terms of per capita income to the opulent societies of the West, even if gradually, which I do not believe is possible. The Chinese right shares this point of view. Others deplore this in the name of the values of a “betrayed socialism.” Some associate themselves with the dominant expressions of the practice of China bashing in the West. Still others—those in power in Beijing—describe the chosen path as “Chinese-style socialism,” without being more precise. However, one can discern its characteristics by reading official texts closely, particularly the Five-Year Plans, which are precise and taken quite seriously.
Economic hit men (EHMs) are highly paid professionals who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, the U.S. Agency for International Development (USAID), and other foreign “aid” organizations into the coffers of huge corporations and the pockets of a few wealthy families who control the planet’s natural resources. Their tools include fraudulent financial reports, rigged elections, payoffs, extortion, sex, and murder. They play a game as old as empire, but one that has taken on new and terrifying dimensions during this time of globalization. I should know; I was an EHM. —John Perkins, Confessions of an Economic Hit Man (2004)
When I was a lad, I wrote amorous ditties, To Judy, Aleine, Edelina, and Sue. But now that I’m gray, I’ve abandoned those pretties, I’m singing my songs to the MONTHLY REVIEW.… So sang E.Y. “Yip” Harburg, to the tune of “The Streets of Laredo,” at Monthly Review’s fifteenth anniversary party. Accompanying him on piano was my late wife, the Judy to whom Yip wrote ditties. You will not find her or Aleine Mufson mentioned in the pages of this biography. Nor will you find cited any who, because they rubbed elbows or other body parts with Harburg, could lead the reader to the fullest possible understanding of who he was.
For a long time now orthodox economics has been hindered by its extreme irrealism—a refusal even to attempt a realistic theoretical understanding of how modern capitalism functions. The shift to using fanciful assumptions to explore largely minor issues, following a brief Keynesian moment in the post-Second World War era, has been in many ways self-reinforcing. Once fundamental characteristics of the capitalist economy such as labor exploitation, accumulation, built-in inequality, monopoly power, rent-seeking behavior, technological change, and the tendency to stagnation were removed from the analysis—as a result of an ideological process of system-rationalization—there was little recourse but to fall back in successive stages on more and more abstract models based on increasingly purified notions of individual rationality.… Nevertheless, the deepening crisis of today’s monopoly-finance capital has given rise to a new era of questioning within the economics profession, and some top-tier neoclassical economists are now struggling—though hindered at every step by their own training and inclinations—to recapture knowledge long abandoned.
The world at present is fast approaching a climate cliff. Science tells us that an increase in global average temperature of 2°C (3.6° F) constitutes the planetary tipping point with respect to climate change, leading to irreversible changes beyond human control. A 2°C rise is sufficient to melt a significant portion of the world’s ice due to feedbacks that will hasten the melting. It will thus set the course to an ice-free world. Sea level will rise. Numerous islands will be threatened along with coastal regions throughout the globe. Extreme weather events (droughts, storms, floods) will be far more common. The paleoclimatic record shows that an increase in global average temperature of several degrees means that 50 percent or more of all species—plants and animals—will be driven to extinction. Global food crops will be negatively affected.
Nothing makes me more hopeful than discovering another human being to admire. My wonder at the life of Celia Sánchez, a revolutionary Cuban woman virtually unknown to Americans, has left me almost speechless. In hindsight, loving and admiring her was bound to happen, once I knew her story. Like Frida Kahlo, Zora Neale Hurston, Rosa Luxemburg, Agnes Smedley, Fannie Lou Hamer, Josephine Baker, Harriet Tubman, or Aung San Suu Kyi, Celia Sánchez was that extraordinary expression of life that can, every so often, give humanity a very good name.
It is impossible to disentangle the migration and labor question today without a deep understanding of the nature of contemporary capitalism, namely, neoliberal globalization. One of the main features of the new global architecture…is the assault on the labor and living conditions of the majority of the global working class, and in particular the migrant workforce, which is among the most vulnerable segments of this class. This essay will analyze some key aspects of the system that contemporary migration is embedded in, with emphasis on the process of segmentation and the growing precariousness (precarization) of labor markets worldwide.
When the real estate market was building momentum during the 2000s, [new types of restructured, risk-based financial instruments] looked like a free lunch and insurers could pocket the insurance premium without ever being called in to make up for losses. However, when the market reversed in 2006, the payday came: some insurers lost heavily, others went bust, and a few, such as AIG, were bailed out. … By the end of the cycle, we had learned about the pro-cyclical nature of ratings-based structured products and the dangers of the new food chain. Hedge fund manager George Soros called Credit Default Swaps “weapons of mass destruction.” We had, many believed, been defeated by novelty. Or had we? Many think that subprime products are new, and that the use of ratings to structure financial instruments and so-called Credit Default Swaps (CDS) are a recent invention permitted by advances in modern finance. They ought to study the history of Levy Maybaum, a man who lived in New Jersey in the late nineteenth century and invented the first CDS.
Zhihe Wang’s article “Ecological Marxism in China,” which appeared in the February 2012 Monthly Review, demonstrated that Chinese interest in ecological Marxism has grown rapidly over the past two decades…. The practical, political, and theoretical reasons for its success include: pressing environmental issues facing China; the government’s call for ecological civilization; the many characteristics that ecological Marxism shares with traditional Chinese Marxism; and the support it has provided for China’s environmental movement. Numerous works by Western scholars, including Ben Agger, John Bellamy Foster, William Leiss, and James O’Connor, have recently been translated into Chinese. …In comparison [to the others], John Bellamy Foster’s ecological Marxism was introduced relatively late. But recently it has drawn the greatest attention from Chinese Marxist scholars…. Our purpose here is to elicit a response from Foster on some of these developments in Chinese thought.
I would like to thank Zhihe Wang, Meijun Fan, Hui Dong, Dezhong Sun, and Lichun Li for doing so much to promote a global dialogue on ecological Marxism by summarizing some of the insights and concerns of Chinese scholars in this area, focusing in this case on my work in particular. The various questions, challenges, and critiques raised in relation to my work and that of related scholars are all, I believe, of great importance to the development of theory and practice in this area. I am therefore providing a brief set of responses to the problems raised, which I hope will be helpful in the further promotion of this global dialogue on ecology and Marxism.