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The Editors

October 1998 (Volume 50, Number 5)

October 1998 (Volume 50, Number 5)

Even at the height of Hollywood’s political consciousness, which ended in the notorious Cold War repression of the Hollywood Ten and many others in the industry, American movies usually rendered their politics in code. But there’s nothing coded or coy about Bulworth. Whether you like the movie or not, whether you like its humor or not, its politics is definitely in your face. And, as far as it goes, that politics is much more left than anything we’ve seen in the U.S. for a very long time … | more |

September 1998 (Volume 50, Number 4)

September 1998 (Volume 50, Number 4)

The left has more than once heard calls for a “third way”. In decades gone by, people talked about a “third way” between Communism and capitalism, which was social democracy. Now that both the Communism of that period and the social democratic alternative have both more or less died, we’re beginning to hear about a new “third way”. The main exponent of this new alternative is the British Prime Minister, Tony Blair. But there’s talk of a “third way” partnership between Blair and Clinton, or even a troika with the man who may become the next Chancellor of Germany, the German Social-Democratic Party’s Gerhard Schroder … | more |

July-August 1998 (Volume 50, Number 3)

July-August 1998 (Volume 50, Number 3)

We write in early June, and these will be the last “Notes from the Editors” until some time in September when things will surely be a lot different from what they are now. Meanwhile you should not spend too much time trying to figure out what the difference will be. We are clearly in the last stages of one of capitalism’s periodic “business cycles,” and these are always periods of severe contradictions and much confusion. Later on, when things have calmed down a bit and the course of events seems to be following a more coherent pattern, there will be time enough to analyze the various tendencies and counter-tendencies that are combining to shape this phase of the twentieth century’s final cycle … | more |

June 1998 (Volume 50, Number 2)

June 1998 (Volume 50, Number 2)

What’s the matter with Japan? According to today’s conventional wisdom—i.e., what we are told by the media and the syndicated pundits—almost everything. Its economy, the second largest in the world, is in a long-term crisis that affects on everyone else, most severely the United States, and it stubbornly refuses to do anything about it despite […]… | more |

May 1998 (Volume 50, Number 1)

May 1998 (Volume 50, Number 1)

The fifteenth annual Socialist Scholars Conference (SSC) was held this year on the weekend of March 22–23, several weeks earlier than usual, but at the accustomed venue, the Borough of Manhattan Community College, way down on the west side, a couple of blocks from the Chambers Street subway station. The weather on the first day, […]… | more |

April 1998 (Volume 49, Number 11)

April 1998 (Volume 49, Number 11)

Readers may remember that in last year’s summer issue on labor we talked about a roundtable organized by MR for activists in the labor movement and held in our office in New York last March. The idea was to provide a forum for labor activists to establish connections among themselves and to discuss issues of common interest at a particularly important historical moment, at a time when the labor movement in various parts of the world, including the United States, is beginning to show signs of renewal. We also hoped to revive the long dormant connection between the socialist left and the labor movement, and we were very pleased to discover that people within the movement were anxious to work with us too … | more |

March 1998 (Volume 49, Number 10)

March 1998 (Volume 49, Number 10)

A striking feature of the mountain of talk about the Asian crisis is that its root cause is all too often ignored The focus of the media and the pundits is on weak banks, bad management, corrupt officials, heavy indebtedness, excess speculation, and the fragility of the financial markets. Typically, the disaster is viewed as a regional affair. A rare exception is the statement of Eisuke Sakakibara, Japan’s vice-minister for international finance: “This isn’t an Asian crisis. It is a crisis of global capitalism.” (Business Week, January 26, 1998) But he too was apparently thinking of financial markets, concerned with effects, not causes … | more |

February 1998 (Volume 49, Number 9)

February 1998 (Volume 49, Number 9)

Monthly Review was chosen for a 1997 Frederick Douglas Award, an award given annually by the North Star Fund. We were of course pleased to be so honored and thought that MR readers would be interested to learn more about it. In fact, considering that so many of you, as supporters and friends, are members of the MR family, the award properly belongs to you as well as the staff … | more |

January 1998 (Volume 49, Number 8)

January 1998 (Volume 49, Number 8)

MR has always been known for its style as well as its substance. We’ve always aimed for depth of analysis without sacrificing clarity and accessibility. We’ve also tried to keep our articles relatively short, not just to maintain the small and affordable size of the magazine but also because we’re writing for an audience of socialists who lead busy lives—for people who work long and hard hours, in factories, offices, educational institutions, and at home, and for activists no less than for intellectuals … | more |

December 1997 (Volume 49, Number 7)

December 1997 (Volume 49, Number 7)

Notes from the Editor

The New Yorker dated October 20-27 carries, along with a generous menu of futurology, a sensational article on the past and present. It is entitled “The Return of Karl Marx,” by John Cassidy, who is self-identified as an Oxford-educated friend of “a highly intelligent and levelheaded Englishman whose career has taken him…to a big Wall Street investment bank.” Visiting with his friend at the latter’s Long Island summer home during the early summer, the two discussed the economy and speculated on how long the current financial boom would last … | more |

November 1997 (Volume 49, Number 6)

November 1997 (Volume 49, Number 6)

Notes from the Editor

Ecology, a.k.a. environmental studies, is a relatively new area of scientific interest, mostly a product of the second half of the twentieth century and rapidly growing as the century draws to a close. It combines in one way or another most of the physical and social sciences, defies any attempt to force it into a neat definition of its own, and increasingly raises and attempts to cope with daunting problems such as the future of the human species and other forms of life on earth. No wonder it is an area not only of scientific interest, but also of excitement, confusion, brilliant insights, and stubborn adherence to self-serving dogmas.… | more |

October 1997 (Volume 49, Number 5)

October 1997 (Volume 49, Number 5)

We are writing at the end of August. The two main events of the summer have been (1) the apparent ending of the long stock-market boom of the last few years, and (2) the successful strike of the teamsters against UPS. Neither can be said to have been anticipated and together they point to the emergence of new trends in the period ahead.… | more |

September 1997 (Volume 49, Number 4)

September 1997 (Volume 49, Number 4)

In its most recent issue (July 17th) Doug Henwood’s excellent Left Business Observer, now in its seventh year of publication, highlights what may come to be seen as an important turning point in current economic history. The gist of it is that Alan Greenspan and his supporters at the Federal Reserve have come to the conclusion that inflation is no longer a serious problem and the real threat today is deflation. “For all the bad press that inflation gets, deflation is generally far worse for all but the richest and best-positioned.…Greenspan and Co. might not fear an exact replay of the 1929-32 collapse, but clearly that’s the ‘it’ that central bankers don’t want ever to happen again” (to paraphrase the title of Hyman Minsky’s classic book Can ‘It’ Happen Again?).… | more |

July-August 1997 (Volume 49, Number 3)

July-August 1997 (Volume 49, Number 3)

As of early summer the economic outlook for the rest of 1997, as portrayed in the major media, could hardly be brighter. “Strong growth with little unemployment and low inflation doesn’t have to peter out….Could it possibly get any better than this?” exults Business Week (January).…Up to a point this is clearly a case of déjà vu all over again. A “new era” was widely and enthusiastically proclaimed by professors, pundits, and plain people as the stock market boom of the 1920s neared its peak. A few months later the market collapsed, and the greatest depression in U.S. history began. The big question now is whether the rest of the scenario of the 1920s and the 1930s is likely to repeat itself. The answer of the media and Wall Street and probably of plenty of plain people too is a resounding NO.… | more |

June 1997 (Volume 49, Number 2)

June 1997 (Volume 49, Number 2)

It is encouraging to find that in the face of constantly changing trends within academia, there was such a strong turnout for the 1997 Socialist Scholars Conference—on a rainy Easter weekend (March 28-30) over 1,700 people came out in full force. There was a feeling of excitement in the halls and class rooms of the Borough of Manhattan Community College that may just signify both a return to Marxist politics and a revitalization of the U.S. labor movement. The opening plenary speeches were full of hope and enthusiasm: from Daniel Singer who pointed out that “the ideological swing to the right has probably come to an end…cracks are beginning to appear in the ruling ideology and popular resistance is growing” to Bob Wages, president of the Oil, Chemical, and Atomic Workers Union, who emphasized the importance of class politics that challenges, rather than accepts the Democratic party.… | more |

May 1997 (Volume 49, Number 1)

May 1997 (Volume 49, Number 1)

In this space in last summer’s double issue of MR, we directed attention to the work of a worldwatch Institute in Washington, D.C., especially its annual State of the World, the first issue of which was published in 1984. The latest (1997) of these reports came out in February. By now this series is being translated into all the world’s major languages and constitutes what is probably the most comprehensive and available source of information on the global environment.… | more |

November 1996 (Volume 48, Number 6)

November 1996 (Volume 48, Number 6)

The September 30th issue of the New Yorker carried profiles of two long-time contributors to Monthly Review—lyricist E. Y. Harburg and lawyer Michael Tigar—evoking considerable pride among MR staffers. “Yip” Harburg, who died in 1986, wrote more than one hundred songs including “Over The Rainbow,” and “Brother, Can You Spare a Dime.” Writer John Lahr notes that throughout his long career on Broadway and in Hollywood all of his work evinced powerful social concerns and themes of freedom. Yip, of course, was a socialist of the MR variety. He valued the analysis and insight of this publication, as the verse printed on page 63.… | more |

The Financial Explosion

Credit where credit is due. For a long time now we have been harping in this space on the theme of a monetary system out of control; of the wild proliferation of new financial institutions, instruments, and markets; of the unchecked spread of a speculative fever certainly more pervasive and perhaps even more virulent than any recorded in the long history of capitalism’s get-rich-quick obsessions. With few exceptions, accredited economists, as is their wont, have ignored these bizarre goings-on: they are not part of the way the economy is supposed to operate and are hence unworthy of “scientific” attention. … | more |

The Struggle to Save Social Security

Jacob Morris has effectively exposed the attack on Social Security for what it is, and he has done this within the framework of the existing system. The underlying assumption is that Social Security must be paid for out of an accounting reserve supported by payroll taxes. Based on this premise, generally accepted by liberals and conservatives alike, the financial integrity of the reserve is taken as equivalent to the integrity of Social Security itself. But the real questions are different. Why use an accounting reserve and why apply the test of financial integrity? No such tests are applied to any other part of the federal budget, surely not to the enormous armaments expenditures. Basically, what is at issue here is not a financial but a social problem.… | more |

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