Monday November 24th, 2014, 7:22 am (EST)

The Editors

After the Attack…The War on Terrorism

There is little we can say directly about the September 11 terrorist attacks on the World Trade Center in New York and the Pentagon in Washington, D.C.—except that these were acts of utter, inhuman violence, indefensible in every sense, taking a deep and lasting human toll. Such terrorism has to be rid from the face of the earth. The difficulty lies in how to rid the world of it. Terrorism generates counterterrorism and the United States has long been a party to this deadly game, as perpetrator more often than victim.… | more |

October 2001 (Volume 53, Number 5)

October 2001 (Volume 53, Number 5)

The fact that the vested interests in the United States are able to rely on a well-oiled propaganda system, in which the media dutifully play their appointed role, is perhaps nowhere clearer today than in the case of Social Security privatization. From the standpoint of the establishment the truth simply will not do. If the truth were presented on Social Security, that is, if there were a responsible and independent press hammering away at the truth, against the obscene manipulation of the facts by the establishment, there would be no Social Security “crisis” and no substantial public support for even partial privatization. The idea of the failure of Social Security is a classic case of propaganda by the elite aimed at manipulating the minds of the people. … | more |

September 2001 (Volume 53, Number 4)

September 2001 (Volume 53, Number 4)

The Economist (June 23, 2001) contained an item that we thought would interest and amuse MR readers. Under the title “More Tomatoes, Please,” it humorously observed: It’s tough being a world leader these days. Once upon a time, you could meet a couple of your counterparts in some pleasant seaside town, forge a union or divide a continent over dinner, and then issue a grateful public with a photograph and a communiqué….… | more |

 July-August 2001 (Volume 53, Number 3)

July-August 2001 (Volume 53, Number 3)

As many of you know, we sent out an emergency appeal two months ago to raise $100,000 to make up for a cash deficit. We found ourselves in the paradoxical position of having experienced the largest increase in magazine circulation last year in more than a decade, while looking at a bank account that was pointing toward empty. MR’s very existence was threatened. The problem arose in part because we were without an editor for MR Press for over a year. As a result, book schedules were delayed and new projects put on hold… | more |

Prisons and Executions—the U.S. Model

A Historical Introduction

The prison is so prominent an institution in present-day society that it is difficult to remember that the prison as a place of punishment is only a little more than two hundred years old. It emerged first in the United States and soon after in Europe, and its early phase of development was that of 1789-1848, conforming to what historian Eric Hobsbawm has termed The Age of Revolution. It was thus a product of the dual revolution that formed the basis for modern capitalism: the industrial revolution centered in Britain and the political revolution that took place in the United States and France… | more |

June 2001 (Volume 53, Number 2)

June 2001 (Volume 53, Number 2)

In response to the massive popular protests against the Free Trade Area of the Americas (FTAA) in Quebec City on April 20-21, the mainstream media has adopted as one of its favorite lines that the protesters, while frequently well meaning, are ignorant of basic economics. What this means is that the protesters are refusing to bow down before the alleged virtues of unregulated free trade. In his column on the Op-Ed page of the New York Times (April 24, 2001), Thomas Friedman quoted Harvard economist Jeffrey Sachs as saying, “There is not a single example in modern history of a country successfully developing without trading and integrating with the global economy.” … | more |

A Prizefighter for Capitalism

A few weeks ago, the New York Times columnist on economics devoted his space to scolding the demonstrators at the Summit of the Americas in Quebec City, (April 22, 2001, Op-Ed page). The writer, Paul Krugman an MIT professor, is considered by many to be a leading light of the profession, and a likely candidate for the economics Nobel Prize… | more |

May 2001 (Volume 53, Number 1)

May 2001 (Volume 53, Number 1)

In September 1969 Monthly Review published Margaret Benston’s article, “The Political Economy of Women’s Liberation”–one of the most important early intellectual contributions to the current wave of feminist struggle in the United States. In the more than three decades since we have continued to publish articles by socialist feminists (along with a steady flow of important feminist texts through Monthly Review Press’ New Feminist Library) … | more |

April 2001 (Volume 52, Number 11)

April 2001 (Volume 52, Number 11)

It was just over a year ago that we asked John Bellamy Foster and Robert W. McChesney to serve as acting co-editors of Monthly Review, with a view to having four co-editors. Although Foster and McChesney were naturals for undertaking this responsibility—they are longtime MR contributors and MR Press authors—the type of collegiality necessary to make a publication like MR tick is delicate and difficult to predict. We therefore thought it desirable that they be “acting” co-editors, to provide for a trial period. In the past year we have worked together in a truly collective way, published some of our best issues, and circulation has grown at a rapid pace. In addition to political economy and socialist education, John and Bob have opened MR up to new areas where we are now on the cutting edge. John is among the three or four leading environmental sociologists, and Bob holds similar distinction as a media and communications scholar. Moreover, both John and Bob have been active in radical movements for much of the past two decades. There is a lot of ballyhoo nowadays about public intellectuals. In John and Bob we have two of the very best of the breed. To top it off, they are genuinely warm and loving individuals with whom everyone enjoys working. MR’s morale has not been this high in a very long time. We are thus happy to announce that these two younger friends and colleagues are joining us as permanent—no longer “acting”—co-editors of Monthly Review… | more |

The New Economy

Myth and Reality

In the last few years the idea of a “New Economy” has gained wide currency, almost rivaling “globalization” as a neologism that characterizes our era. Thus The Economic Report of the President, 2001, begins: “Over the last 8 years the American economy has transformed itself so radically that many believe we have witnessed the creation of a New Economy.” This New Economy is seen, first and foremost, as consisting of those firms and economic sectors most closely associated with the revolution in digital technology and the growth of the Internet. The rapid convergence of information technologies—including computers, software, satellites, fiber optics, and the Internet—has, it is believed, fundamentally altered the economic landscape. Since the mid-1990s, these revolutionary technological developments have, it is argued, spilled over into the wider economy, generating higher productivity growth, a sustained acceleration of economic growth, lower unemployment, lower inflation, and an attenuation of the business cycle… | more |

March 2001 (Volume 52, Number 10)

March 2001 (Volume 52, Number 10)

Two decades after the Carter and Reagan administrations launched their attacks on the U.S. regulatory system the world is littered with the wreckage of neoliberal deregulation. Seldom have these failures loomed so prominently, however, as in the rolling blackouts that swept much of California in January of this year. These rolling blackouts were implemented by California power authorities in a desperate attempt to deal with a burgeoning crisis in the availability of electrical power resulting from the deregulation of California’s electrical power companies beginning in 1996. The deregulation legislation, passed unanimously by the California state legislature, promised a 20 percent drop in electricity rates by 2002. Rates for final consumers were to be frozen at around 50 percent above the national average for up to four years (1998-2002), during which time the ratepayers were required to contribute to paying off the “stranded assets” of the major private utility companies, consisting of billions of dollars in bad investments in nuclear power facilities. So far, California ratepayers have paid out seventeen billion dollars to the private electrical utilities under these provisions. Deregulation also required the utilities to sell off their power generation facilities (with the exception of some hydropower and nuclear facilities).… | more |

February 2001 (Volume 52, Number 9)

February 2001 (Volume 52, Number 9)

The attention given to the Florida elections in the US presidential race has highlighted the horrendous fact that in Florida and throughout the South thirty-five years after the passage of the Voting Rights Act there are numerous ways in which African Americans are prevented from voting. Thus Florida is one of fourteen states that bar ex-criminal offenders from voting even after they have completed their sentences. In Florida alone more than 400,000 ex-criminal offenders who at one time received felony convictions but who have now completed their sentences and are no longer in prison, on probation, or on parole have been barred from voting in this way. This includes almost one-third of black men in that state and more than 200,000 potential African-American voters, 90 percent or more of whom could have been expected to vote Democrat if they had voted. This situation in Florida and other states is documented in a 1998 report entitled Losing the Vote, issued by Human Rights Watch and the Sentencing Project, available on-line at http://www.hrw.org/reports98/vote/. Given the fact that under the present criminal injustice system African Americans are far more likely to be arrested and given felony convictions than their white counterparts this becomes an effective means of political control.… | more |

The Nader Campaign and the Future of U.S. Left Electoral Politics

The unlikely postelection contest between Al Gore and George W. Bush, which ultimately led to the anointing of Bush as president by the Republican majority on the US Supreme Court (despite the fact that Bush received fewer popular votes than Gore both in the United States as a whole and most likely in Florida as well—the state that gave Bush his electoral college win), has tended to erase all other developments associated with the election. But all of this should not cause us to forget that the Ralph Nader Green Party campaign for the presidency was arguably the most extraordinary phenomenon in US left politics in many years… | more |

January 2001 (Volume 52, Number 8)

January 2001 (Volume 52, Number 8)

A striking example of the one-sided nature of the US media, at least where issues of capital and imperial power are concerned, is the way recent events in the Middle East are being reported. One would never know from the press, radio, and television that Palestinians are fighting for freedom from military occupation and the years-long deterioration of social and economic conditions. Theirs is in essence an anticolonial struggle. In a recent article in the Egyptian Al-Ahram Weekly, Edward Said pointed out: not a single map has been published or shown on television to remind American viewers and readers—notoriously ignorant of both geography and history—that Israeli encampments, settlements, roads and barricades crisscross Palestinian land in Gaza and the West Bank.… | more |

Fifty Years Ago in Monthly Review

A widely-held belief in the United States is that Americans lead the world in social, humanitarian, and even egalitarian thinking. More specifically, Mrs. Roosevelt and other United States representatives at the UN are thought to have extended the frontiers of human rights on the international plane. The opposite is true…In December, 1948 the General Assembly of the United Nations adopted a “Universal Declaration of Human Rights,” which was to be a beacon light to the world—a guide to wider freedoms and a better life….The original idea was to draw up an International Bill of Rights which every country would sign just as it signs any other international convention….At this stage, the Americans displayed a rare example of long term planning on a UN matter… | more |

December 2000 (Volume 52, Number 7)

December 2000 (Volume 52, Number 7)

Praise for Karl Marx—albeit of a somewhat mocking kind—comes from the strangest places nowadays. In their new book Future Perfect: The Challenge and Hidden Promise of Globalization, John Micklethwait and Adrian Wooldridge, bestselling business authors and correspondents for the adamantly procapitalist Economist magazine, declare that, “as a prophet of socialism Marx may be kaput; but as a prophet of ‘the universal interdependence of nations,’ as he called globalization, he can still seem startlingly relevant. His description of globalization remains as sharp today as it was 150 years ago” (pp. 332-333). The same thing has been noticed in a quite different way in colleges and universities, as demand for courses on Marx, Marxism, and political economy appear once again to be on the rise.… | more |

November 2000 (Volume 52, Number 6)

November 2000 (Volume 52, Number 6)

Dissatisfaction with what has happened to the study of economics is producing a rapidly growing revolt among economics students in France, Britain, the United States, and elsewhere. Within a matter of months, this new movement has made considerable inroads in exposing the meaninglessness of orthodox economics in contemporary capitalist societies. Students are eagerly looking for answers about the issues of the day, such as expanding globalization, growing dominance of international finance, increasing polarization between the rich and poor nations and between the rich and poor of each nation. But orthodox economics has no meaningful answers to any of these questions—a fact that has fed the widening rebellion among economics students in numerous countries. Before reporting on this new discontent, we need to provide some background on how economics has been transformed, since its classical period, into a study that is becoming more and more irrelevant.… | more |

October 2000 (Volume 52, Number 5)

October 2000 (Volume 52, Number 5)

In an article on the role of third parties in U.S. presidential elections in the August 21, 2000, issue of In These Times, founding editor and publisher James Weinstein observed: In 1948, when I cast my first vote for president, Henry A. Wallace, vice president during FDR’s second and third terms, was running as the Progressive Party candidate against Republican Thomas Dewey and Democrat Harry S. Truman.… | more |

Social Security, the Stock Market, and the Elections

Social Security was the crowning achievement of Roosevelt’s New Deal. It has been the most successful and still remains the most popular of all U.S. government programs. More than a pension program, Social Security provides for workers and their families in the case of early death and disability, in addition to retirement. In 1997, it provided about twelve trillion dollars worth of life insurance alone, more than that of the entire private life-insurance industry. Furthermore, it does all of this in the form of social insurance, in which the distribution and the amount of benefits provided are determined by family relation- ships and basic economic rights-factors that private insurance and pension plans ignore. Nearly one-fifth of the elderly in the United States rely on Social Security as virtually their sole source of income, while two-thirds of all recipients depend on it for at least half of their income… | more |

September 2000 (Volume 52, Number 4)

September 2000 (Volume 52, Number 4)

In the United States, the creation of wealth is often presented as a process that benefits everyone within the society. A common shibboleth, made famous during the Kennedy administration, is that “a rising tide lifts all boats.” In June 2000, the Conference Board, an organization devoted to the promotion of global business and one of the leading private centers for the analysis of economic statistics, released a report actually entitled Does a Rising Tide Lift All Boats? The report concludes: “Unfortunately, the answer to date is ‘no ’”… | more |

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