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The Wonderful World of Capitalism

The search for the political truth will always be a difficult task even in our times, when science has placed in our hands a huge amount of knowledge. One of the most important was the possibility to know and study the fabulous power of the energy contained in matter.

The person who discovered that energy and its possible use was a peaceful and amiable man who, despite being against violence and war, asked the United States to develop it. The US president back then was Franklin D. Roosevelt, a man who had adopted a well-known anti-fascist stand; he was the leader of a country that was

Monthly Review Volume 63, Number 9 (February 2012)

February 2012 (Volume 63, Number 9)

» Notes from the Editors

This issue of Monthly Review focuses particularly on China. Aside from the Review of the Month by John Bellamy Foster and Robert W. McChesney, which addresses the Chinese economy and its relation to the current phase of the capitalist world economy, we are publishing two separate contributions by Chinese scholars, one by Wen Tiejun, et. al., on the new rural reconstruction movement in China, and one by Zhihe Wang on the development of ecological Marxism in China. Our own thesis is that the era of rapid growth in China is leading to a period of deepening contradiction. The present accelerated growth is based on the intensive exploitation of migrant labor and the capitalization of newly urban land. For various reasons this model is reaching its outer limits, economically, socially, and ecologically. This suggests that China is on the wrong road, and must change directions.… | more…

The Global Stagnation and China

Five years after the Great Financial Crisis of 2007–09 began there is still no sign of a full recovery of the world economy. Consequently, concern has increasingly shifted from financial crisis and recession to slow growth or stagnation, causing some to dub the current era the Great Stagnation. Stagnation and financial crisis are now seen as feeding into one another.… To be sure, a few emerging economies have seemingly bucked the general trend, continuing to grow rapidly—most notably China, now the world’s second largest economy after the United States. Yet, as [IMF Managing Director Christine] Lagarde warned her Chinese listeners, “Asia is not immune” to the general economic slowdown, “emerging Asia is also vulnerable to developments in the financial sector.” So sharp were the IMF’s warnings, dovetailing with widespread fears of a sharp Chinese economic slowdown, that Lagarde in late November was forced to reassure world business, declaring that stagnation was probably not imminent in China (the Bloomberg.com headline ran: “IMF Sees Chinese Economy Avoiding Stagnation.”)… | more…

Ecological Civilization, Indigenous Culture, and Rural Reconstruction in China

The governments of almost all developing countries are facing the long-term twin problems of capital shortages and high fiscal debts, resulting from their attempts to modernize the state forms and economic and financial relations left by colonialism or copied from western political culture. Whether they claimed to be of the left or the right ideologically, they almost invariably undertook policies to attract foreign investment and encourage domestic private investors to join the global industrialization competition during the twentieth century…. Continental China, the biggest developing country, with the largest population (but also with significant natural resource constraints) has close to 20 percent of the world’s population, but only 9 percent of its arable land and a mere 6 percent of its fresh water. Over the centuries, China had its share of drought- or flood-induced famines. But if not for a 6,000-year history of irrigated agriculture, with its related “village rationality” based on traditional indigenous knowledge—which internalizes risks by its multifunctional rural cultures of sustainable self-reliance—China would have been a land of perpetual hunger.… | more…

Ecological Marxism in China

Chinese interest in ecological Marxism has grown increasingly in the past twenty years. Amazingly, it has even become, to some extent, an important part of contemporary Marxism in China. But why has it been so well received? This paper will offer some reasons for this and also point out the challenges now facing ecological Marxism in China.… | more…

Women, Labor, and Capital Accumulation in Asia

One of the enduring myths about capitalism that continues to be perpetuated in mainstream economic textbooks and other pedagogic strategies is that labor supply is somehow exogenous to the economic system. The supply of labor is typically assumed, especially in standard growth theories, to be determined by the rate of population growth, which in turn is also seen as “outside” the economic system rather than in interplay with it. The reality is, of course, very different: the supply of labor has been very much a result of economic processes, not something extraneous to it. Throughout its history, capitalism has proved adept at causing patterns of labor supply to change in accordance with demand…. But nowhere has this particular capacity of capitalism to generate its own labor been more evident than in the case of female labor.… | more…

Quid Pro Quo?

The Question of India’s Subordination to the ‘American Narrative’

In April 2011, the Wall Street Journal‘s South Asia columnist Sadanand Dhume published a piece entitled “It’s Time to Re-Align India.” Meeting in Hainan, China, the BRICS (Brazil, Russia, India, China, and South Africa) called for a multipolar world (i.e. one no longer dominated by the Atlantic powers, led by the United States) and for a less militaristic approach to common problems—with special reference to the imbroglio in Libya, fast becoming the twenty-first century’s Yugoslavia. Focusing on India, Dhume wrote in response: “Like a monster in a B-grade horror film, India’s love affair with non-alignment refuses to die. The end of the Cold War should have ended this approach to foreign policy. Unfortunately, it hasn’t.”… | more…

The Rise of the Working Class and the Future of the Chinese Revolution

In July 2009, workers at the state-owned Tonghua Steel Company in Jilin, China organized a massive anti-privatization protest. Then, in the summer of 2010, a wave of strikes swept through China’s coastal provinces. These events may prove to be a historic turning point. After decades of defeat, retreat, and silence, the Chinese working class is now re-emerging as a new social and political force.… How will the rise of the Chinese working class shape the future of China and the world? Will the Chinese capitalist class manage to accommodate the working-class challenge while maintaining the capitalist system? Or will the rise of the Chinese working class lead to a new Chinese socialist revolution that could, in turn, pave the way for a global socialist revolution? The answers to these questions will, to a large extent, determine the course of world history in the twenty-first century.… | more…

Lies and Mysteries Surrounding Bin Laden’s Death

The men who executed Bin Laden did not act on their own: they were following orders from the US Government. They had gone through a rigorous selection process and were trained to accomplish special missions. It is known that the US President can even communicate with a soldier in combat.… A few hours after accomplishing that mission in the Pakistani city of Abbottabad, home to the most prestigious military academy of that country as well as important combat units, the White House offered the world’s public opinion a carefully drafted version about the death of Osama Bin Laden, the chief of Al Qaeda.… Of course, the world and the international media focused their attention on the issue, thus pushing all other public news into the background.… | more…

The Assassination of Osama Bin Laden

Those persons who deal with these issues know that on September 11 of 2001 our people expressed its solidarity to the US people and offered the modest cooperation that in the area of health we could have offered to the victims of the brutal attack against the Twin Towers in New York.… We also immediately opened our country’s airports to the American airplanes that were unable to land anywhere, given the chaos that came about soon after the strike.… Although we resolutely supported the armed struggle against Batista’s tyranny, we were, on principle, opposed to any terrorist action that could cause the death of innocent people. Such behavior, which has been maintained for more than half a century, gives us the right to express our views about such a sensitive matter.… | more…

The Brutal and Turbulent North

I was reading abundant materials and books to make good my promise of continuing writing on the Reflection of April 14 about the Battle of Girón when I had a look at the recent news that came yesterday, which were also as abundant as they are everyday. You could pile up mountains of news on any given week ranging from the earthquake in Japan to the electoral victory of Ollanta Humala over Keiko, the daughter of Alberto Fujimori, ex President of Perú.

Perú is a major exporter of silver, copper, zinc, tin and other minerals. It has huge reserves of uranium that powerful transnationals are hoping

The disaster in Japan and a friend’s visit

Today I had the pleasure of greeting Jimmy Carter, who was President of the United States between 1977 and 1981 and the only one, in my opinion, with enough equanimity and courage to address the issue of his country’s relations with Cuba.

Carter did what he could to reduce international tensions and promote the creation of interest sections in Cuba and the United States. His administration was the only one to take a few steps to moderate the criminal blockade imposed on our people.

The circumstances were certainly not propitious in our complex world. The existence of a truly free and sovereign country in our hemisphere could

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