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China and Socialism: Editors’ Foreword

We depart this year from our usual practice for MR’s July–August double issue. Instead of a collection of articles on a common theme, we are devoting the issue to a single manuscript—a study of China and economic development theory by Martin Hart-Landsberg and Paul Burkett that will be published in book form by Monthly Review Press early next year. Although there are numerous books on China, this one is especially worthy. It is a careful, clear, well-grounded Marxist study of how a major post-revolutionary society turned away from socialism. In addition, the current transformation in China throws light on why capitalism, by its very nature, creates poverty, inequality, and ecological destruction in the process of economic growth.… | more…

Disposable Workers: Today’s Reserve Army of Labor

These are difficult times for workers. In the wealthy countries of capitalism’s center, labor is struggling to maintain existing wages and benefits against a combined assault by corporations and governments, while conditions of workers in the periphery are even more difficult. The widespread acceptance and adoption of capital’s agenda—”free trade,” “free markets,” greater “flexibility” regarding labor, and reduced social welfare assistance—has led to one group of real winners. Transnational corporations (and their owners and top managers) now have more freedom to produce where labor and other costs are cheap, have their patents protected, and move capital in and out of countries at will. Many workers, unfortunately, are finding that their situation has become more tenuous.… | more…

Capitalism as a World Economy: An Interview with Harry Magdoff

Harry Magdoff sat down to talk in front of a video camera in April 2003, three weeks before the conference “Imperialism Today” sponsored by Monthly Review in honor of his ninetieth birthday. An edited version of his remarks would be shown on a large screen at the start of the conference. But Harry has much to say that will be left on the cutting room floor, not because it lacks relevance, but because the time for the video is short, and a good portion of it will be devoted to how he became a socialist. Here, then, are Harry’s thoughts on capitalism, imperialism, the United States—and Iraq. (Note: the transcript of the interview was edited in July 2003 under Harry’s supervision to fill in a number of details.)… | more…

Imperialism Today

On Saturday, May 3rd, 2003 Monthly Review and the University of Vermont co-sponsored “Imperialism Today,” a one-day conference in honor of Harry Magdoff. Invited speakers were asked to discuss the context and workings of the current U.S. global hegemony, the means by which control is exercised over resources and the global periphery, the maintenance of (and challenges to) ideological hegemony, and the prospects for anti-imperialism.… | more…

Creating a Just Society: Lessons from Planning in the U.S.S.R. and the U.S.: An Interview with Harry Magdoff

Lessons from Planning in the U.S.S.R. & the U.S.

In early July 2002, I asked Harry Magdoff if he would be interviewed for the Statesman, a Kolkata, India newspaper for which I write political commentary. Our first interview was so satisfying that we continued for several sessions. What follows is a discussion of something Harry has considered, what we can learn from the experience of the Soviet Union. It is, characteristically, concerned with learning from history. Harry is methodologically committed to the actual world from which all theory springs, to which it must speak, and to meet whose specific particularities it must continually be reshaped.… | more…

The New Face of Capitalism: Slow Growth, Excess Capital, and a Mountain of Debt

For a long time now, the U.S. economy and the economies of the advanced capitalist world as a whole have been experiencing a slowdown in economic growth relative to the quarter-century following the Second World War. It is true that there have been cyclical upswings and long expansions that have been touted as full-fledged “economic booms” in this period, but the slowdown in the rate of growth of the economy has continued over the decades. Grasping this fact is crucial if one is to understand the continual economic restructuring over the last three decades, the rapidly worsening conditions in much of the underdeveloped world to which the crisis has been exported, and the larger significance of the present cyclical downturn of world capitalism… | more…

Imperialism Without Colonies

Imperialism Without Colonies

In the decades after 1945, as colonial possessions became independent states, it was widely-believed that imperialism as a historical phenomenon was coming to an end. The six essays collected in this volume demonstrate that a new form of imperialism was, in fact, taking shape—an imperialism defined not by colonial rule but by the global capitalist market. From the outset, the dominant power in this imperialism without colonies was the United States.… | more…

A Note on the Communist Manifesto

Probably the passage in the Communist Manifesto most frequently cited these days is a portrayal of the global spread of capitalism:

All old-established national industries have been destroyed or are being destroyed. They are dislodged by new industries, whose introduction becomes a life and death question for all nations, by industries that no longer work up indigenous raw material, but raw material drawn from the remotest zones; industries whose products are consumed not only at home, but in every quarter of the globe. In place of the old wants, satisfied by the productions of the country, we find new wants, requiring for their satisfaction the products of distant lands. We have universal inter-dependence of nations…. All nations, on pain of extinction, [are compelled] to adopt the bourgeois mode of production; it compels them to introduce what it calls civilization into their midst, i.e., to become bourgeois themselves. In a word, it creates a world after its own image.

A Letter to a Contributor

The Same Old State

As mentioned over the phone, we like your article very much. It needs to be shortened, and we will be suggesting some editorial changes. Meanwhile, I would like to get your thinking about my disagreement with this statement in your conclusion: “Today’s neo-liberal state is a different kind of capitalist class than the social-democratic, Keynesian interventionist state of the previous period.” I can’t see any significant difference in either the state or its relation to the ruling class, even though clearly there is a considerable difference between the functioning of the capitalist economy during the so-called golden age and the subsequent long stretch of stagnation. I do not mean the absence of any change at all in the capitalist class. Thus, the growing influence of the financial sector (not necessarily a separate sector) is noteworthy. But that is hardly a measure of a major change in the state … | more…

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