Saturday November 22nd, 2014, 6:48 pm (EST)

William K. Tabb

Are New Trade Wars Looming?

I have agreed to talk on the question “Are New Trade Wars Looming?” The answer is yes, but I must also tell you that I think this is the wrong question. What we are really interested in is why trade wars occur and where the economic philosophy we call protectionism comes from. A major cause of the worldwide war and depression that crippled much of the first half of the twentieth century was imperialism and the rivalry of nations for trade, commodities, raw materials, and labor—this produced protectionism. I want to suggest the special importance of finance capital in this process, both earlier in the twentieth century and now. Rather than worrying about trade wars, we should concentrate on the power of capital’s control over our political economy, especially the role of international financiers … | more |

Labor and the Imperialism of Finance

Organized labor has always privileged collective struggle at the point of production, judging it to be capital’s most vulnerable point. Denying employers the labor power needed for the production of surplus value strikes at the reproduction and expansion of capital, the accumulation process which is the core of the system … | more |

Progressive Globalism

Challenging the Audacity of Capital

I will address some aspects of globalization in our time and what they mean for working people. I will start with some general definitions and suggest that the most significant features of what is called globalization have always been part of capitalist development, even if the forms are different in different periods (including our own). I will then discuss the arrogance of capital as it tries to remake our world in its preferred image. In this regard, I will contrast U.S. initiatives in the area of labor standards with worker demands for labor rights. I will then consider the institutions of an internationalized capitalist regime, which seeks to impose itself using vehicles such as the International Monetary Fund and the proposed Multilateral Agreement on Investment. Finally, I will talk about resistance … | more |

Contextualizing Globalization

Comments on Du Boff and Herman

In the June 1997 issue of MR, I wrote an essay, “Globalization is an Issue, the Power of Capital is the Issue.” Richard Du Boff and Edward Herman, two economists whose work I respect and whose books I have used in my classes, now polemicize against “Tabb’s unwillingness to acknowledge that globalization…has anything to do with the victories of capital over labor….” I wrote no such thing, as readers can verify for themselves by going back to that June issue. Such a view (which I do not hold) is indeed unreasonable and wrongheaded. They in fact attribute a number views to me which I do not hold. They propose “alternatives” and I agree with a number of these … | more |

Globalization Is An Issue, The Power of Capital Is The Issue

There is a great deal of difference however between the strong version of the globalization thesis which requires a new view of the international economy as one that “subsumes and subordinates national-level processes,” and a more nuanced view which gives a major role to national-level policies and actors, and the central position not to inexorable economic forces but to politics. In the second perspective, current changes are considered in a longer historical perspective and are seen as distinct but not unprecedented, and as not necessarily involving either the emergence of, or movement toward, a type of economic system which is basically different from what we have known.…It is important to see that the first version of the globalization thesis is based on a myth, has profound political implications which are defeatist, and is not based on a sound analysis of what is a more complex and contestable set of processes.… | more |

The Long Default

The Long Default

New York City and the Urban Fiscal Crisis

Classic study of the fiscal crisis that gripped New York City — and much of urban America — in the 1970s.… | more |

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