Tuesday July 22nd, 2014, 3:38 pm (EDT)

Global

Surveillance Capitalism

Monopoly-Finance Capital, the Military-Industrial Complex, and the Digital Age

The United States came out of the Second World War as the hegemonic power in the world economy. The war had lifted the U.S. economy out of the Great Depression by providing the needed effective demand in the form of endless orders for armaments and troops. Real output rose by 65 percent between 1940 and 1944, and industrial production jumped by 90 percent. At the immediate end of the war, due to the destruction of the European and Japanese economies, the United States accounted for over 60 percent of world manufacturing output. The very palpable fear at the top of society as the war came to a close was that of a reversion to the pre-war situation in which domestic demand would be insufficient to absorb the enormous and growing potential economic surplus generated by the production system, thereby leading to a renewed condition of economic stagnation and depression.… Postwar planners in industry and government moved quickly to stabilize the system through the massive promotion of a sales effort in the form of a corporate marketing revolution based in Madison Avenue, and through the creation of a permanent warfare state, dedicated to the imperial control of world markets and to fighting the Cold War, with its headquarters in the Pentagon. The sales effort and the military-industrial complex constituted the two main surplus-absorption mechanisms (beyond capitalist consumption and investment) in the U.S. economy in the first quarter-century after the Second World War.… | more |

Labor in the Global Digital Economy

Labor in the Global Digital Economy

The Cybertariat Comes of Age

Ursula Huws ties together disparate economic, cultural, and political phenomena of the last few decades to form a provocative narrative about the shape of the global capitalist economy at present. She examines the way that advanced information and communications technology has opened up new fields of capital accumulation: in culture and the arts, in the privatization of public services, and in the commodification of human sociality by way of mobile devices and social networking. These trends are in turn accompanied by the dramatic restructuring of work arrangements, opening the way for new contradictions and new forms of labor solidarity and struggle around the planet.… | more |

"Well researched, well-argued ... a tremendous accomplishment."
—Edward Nell

Global Imperialism and the Great Crisis

The Uncertain Future of Capitalism

In this provocative study, economist Ernesto Screpanti argues that imperialism—far from disappearing or mutating into a benign “globalization”—has in fact entered a new phase, which he terms “global imperialism.” This is a phase defined by multinational firms cut loose from the nation-state framework and free to chase profits over the entire surface of the globe. No longer dependent on nation-states for building a political consensus that accommodates capital accumulation, these firms seek to bend governments to their will and destroy barriers to the free movement of capital. And while military force continues to play an important role in imperial strategy, it is the discipline of the global market that keeps workers in check by pitting them against each other no matter what their national origin. … | more |

June 2014 (Volume 66, Number 2)

June 2014 (Volume 66, Number 2)

» Notes from the Editors

Samir Amin’s Review of the Month in this issue, “Popular Movements Toward Socialism,” offers a masterful analysis of struggles all over the world in the era of what he calls “generalized-monopoly capitalism.” The most important theoretical innovation in his article, in our opinion, is his attempt to bring together a variety of global struggles under the rubric of the “movement toward socialism,” borrowing the terminology from the current practice of a number of South American parties: in Bolivia, Chile, and elsewhere. Movements that fall under this mantle, Amin suggests, may include those that seek to transcend capitalism, as well as others for which the object is more ambiguously a radical upending of labor-capital relations.… | more |

Popular Movements Toward Socialism: Their Unity and Diversity

The following reflections deal with a permanent and fundamental challenge that has confronted, and continues to confront, all popular movements struggling against capitalism. By this I mean both those of movements whose explicit radical aim is to abolish the system based on private proprietorship over the modern means of production (capital) in order to replace it with a system based on workers’ social proprietorship, and those of movements which, without going so far, involve mobilization aimed at real and significant transformation of the relations between labor (“employed by capital”) and capital (“which employs the workers”).… Taken as a whole, many of these movements can be termed “movements toward socialism.”… | more |

Marx on Gender and the Family: A Summary

In recent years, there has been little discussion of Marx’s writings on gender and the family, but in the 1970s and ‘80s, these writings were subject to a great deal of debate. In a number of cases, elements of Marx’s overall theory were merged with psychoanalytic or other forms of feminist theory….These scholars viewed Marx’s theory as primarily gender-blind and in need of an additional theory to understand gender-relations as well. However, they retained Marx’s historical materialism as a starting point for understanding production. Moreover, a number of Marxist feminists also made their own contributions in the late 1960s to ‘80s, particularly in the area of political economy [when they] tried to revalue housework. [Others] attempted to move beyond dual systems towards a unitary understanding of political economy and social reproduction [or show] that Marx can be used to understand the historical development of women’s nature.… | more |

The Theory of Monopoly Capitalism (New Edition)

The Theory of Monopoly Capitalism (New Edition)

An Elaboration of Marxian Political Economy

John Bellamy Foster is a leading exponent of the theoretical perspective that continues in the tradition of Baran and Sweezy’s Monopoly Capital. This new edition of his essential work, The Theory of Monopoly Capitalism, is a clear and accessible explication of this outlook, brought up to the present, and incorporating an analysis of recently discovered “lost” chapters from Monopoly Capital and correspondence between Baran and Sweezy. It also discusses Magdoff and Sweezy’s analysis of the financialization of the economy in the 1970s, ‘80s, and ‘90s, leading up to the Great Financial Crisis of the opening decade of this century.… | more |

Notes from the Editors, May 2014

Notes from the Editors, May 2014

» Notes from the Editors

Monthly Review celebrates its sixty-fifth anniversary with this issue. Today the causes for which the magazine has stood throughout its history—the struggle against capitalism and imperialism and the battle for socialism as the only alternative path—are more pressing than ever. Indeed, so great is the epochal crisis of our time, encompassing both the economic and ecological crises, that nothing but a world revolution is likely to save humanity (and countless others among the earth’s species) from a worsening series of catastrophes.…This may seem like a shocking statement; ironically, not so much because of its invocation of the visible threat to humanity’s existence, but rather because of its reference to revolution as the only solution.… | more |

Notes from the Editors, April 2014

Notes from the Editors, April 2014

» Notes from the Editors

The insidious nature of the economy, state, and cultural apparatus of global monopoly-finance capital is difficult to perceive—if only because it is to be found everywhere we look. Focusing on a specific case can therefore help us see what might otherwise elude us. A striking instance of this principle is to be found in the recent takeover of Chrysler by Fiat—linking a century-old Italian auto dynasty, the Great Financial Crisis of 2007–2009, the U.S. corporate bailout, the 2014 Superbowl, and the American folk music tradition.… | more |

Climate Change: What Role For Reform?

It was an honor to have my essay “A Radical Approach to the Climate Crisis,” from the summer 2013 issue of Dissent, “read with interest” by the editors of Monthly Review, even if the editors took issue with my argument that the timeframe of climate science indicates that getting off fossil fuels must happen starting immediately and be completed in only a few decades.… As Marxists, the editors of MR should be as radical as reality itself, even when that offends intellectual sensibilities and requires a new flexibility. Anyone literate in climate science must admit that the short-term struggle to mitigate carbon emissions is an essential precondition for achieving any other larger, longer-term goal. The science on this is clear: there is no time left to wait, carbon emissions must come down as soon as possible and as fast as possible.… | more |

A Reply to Parenti

Our friend and MR author Christian Parenti misunderstood our brief comments (“Notes from the Editors,” MR, November 2013) on his article in the summer issue of Dissent. We did not challenge the science of climate change, which tells us that carbon emissions must cease before one trillion metric tons of carbon have been emitted—a tipping point that will be reached in about 2040 under business as usual. There is no question that the fossil-fuel industry must go. In fact the reality that the world is confronted by a planetary emergency with respect to climate change (and the global ecological problem as a whole) and that the critical threshold will likely be approached by around 2040 (or even sooner) under capitalist economics as usual, is one that has been insisted upon by Monthly Review for twenty years.… | more |

The Baran Marcuse Correspondence

Paul A. Baran and Herbert Marcuse were close, life-long friends, both of whom had been attached to the Institute for Social Research in Frankfurt in pre-Hitler Germany, and both of whom later emigrated to the United States—Marcuse to become a professor of philosophy at Brandeis University and Baran to become a professor of economics at Stanford. They corresponded frequently and met with each other when possible until Baran’s death in March 1964.

Plastic Plague

Charles Moore with Cassandra Phillips, Plastic Ocean: How a Sea Captain’s Chance Discovery Launched a Determined Quest to Save the Oceans (New York: Penguin Group, 2011), 358 pages, $16, paperback.

Four decades ago, when most greens were blaming pollution on population growth and personal consumption, socialist-environmentalist Barry Commoner showed that neither could account for the radical increase in pollutants since the end of the Second World War. In The Closing Circle, he argued that “the chief reason for the environmental crisisis the sweeping transformation of productive technology since World War II.” In particular, he pointed to dramatic increases in the production and use of materials not found in nature, such as synthetics that do not degrade and therefore become permanent blights on the earth.… Bottles and bags—together with blister packs, polystyrene tubs, foam peanuts, bubble wrap, styrofoam trays, candy wrappers, and a multitude of other forms of packaging—now account for a third of the plastic produced each year worldwide. It is a bizarre and extremely irrational process: producing products that are designed to be thrown away but are made from materials that never die. The second of Barry Commoner’s famous Four Laws of Ecology is: everything must go somewhere.… In his remarkable book Plastic Ocean, Charles Moore (with Cassandra Phillips) reports on the part of the “unstoppable avalanche of nonessentials” that ends up in the oceans, where it chokes and poisons fish, mammals, and birds, and endangers human life.… | more |

Notes from the Editors, February 2014

Notes from the Editors, February 2014

» Notes from the Editors

A comparison of the present state of the natural sciences with that of the social (or human) sciences cannot but give rise to a disquieting sense of the relative poverty of the latter. Although natural scientists are raising the alarm with regard to the planetary environmental emergency and are demanding social solutions, social scientists have largely failed to take up the challenge. To be sure, there has been a vast upsurge in recent years of social-scientific discussions of climate change. But most of this work has remained confined within the narrow boundaries of mainstream social science, relying on such amorphous, dehistoricized concepts as human behavior, organizations, institutions, government, economic growth, industrialization, modernization, the market, energy efficiency, public opinion, and the like—variables that can be treated in purely technical, “non-normative” terms, divorced from historical context, social relations, and social agency.… Conspicuously missing from conventional social science is any serious consideration of the actual social system in which we live and which clearly constitutes the root of the problem: namely, capitalism. Also excluded are such fundamental issues as accumulation, class (including its gendered and racialized forms), the state, the cultural apparatus, imperialism, monopolistic corporations, economic stagnation, financialization, Marx’s concept of the metabolic rift—and indeed all the other major historical realities of our time.… | more |

Reflections on the New International: Dedicated to the Memory and Legacy of President Hugo Chávez

Dedicated to the Memory and Legacy of President Hugo Chávez

The need for the establishment and successful operation of The New International is painfully obvious and urgent today. The enemies of a historically sustainable societal reproductive order, who occupy at the present time still the dominant position in our increasingly endangered world, do not hesitate for a moment to exploit in the interest of their destructive design, with utmost cynicism and hypocrisy, the existing decision-making and opinion-forming organs of the international community, from the Security Council of the United Nations to the great multiplicity of the national and international press and to the other mass media under their direct material stranglehold.… At the same time the adherents of the much needed socialist alternative are fragmented and divided among themselves, instead of internationally combining their strength for the cause of a successful confrontation with their adversaries.… | more |

Three Cheers (Almost) for Gus Speth

Gus Speth, America the Possible: Manifesto for a New Economy (New Haven: Yale University Press, 2012), 272 pages, $18, paperback.

The phrase “you’ve come a long way, Gus” kept bouncing around in my head as I read Gus Speth’s surprising new book America the Possible (Manifesto for a New Economy). The man whom Time called the “ultimate insider” tells how he was arrested in front of the White House in August 2012 and spent a couple days in the District of Columbia jail for protesting the Keystone XL pipeline.… There is little that is completely new in America the Possible for long-term Monthly Review readers, but Speth’s breathtaking admission of the futility of expecting change from working inside the establishment is totally believable. Who, after all, could be better qualified to say “Been there, done that?” What is the most useful in Speth’s book is the detailed catalogue of specific proposals which, if implemented, would revolutionize (not Speth’s word) U.S. society from top to bottom.… | more |

A Critique of Heinrich’s, ‘Crisis Theory, the Law of the Tendency of the Profit Rate to Fall, and Marx’s Studies in the 1870s’

Michael Heinrich’s article is really a continuation of the argument by Monthly Review that Marx’s law of the tendency of the rate of profit to fall (LTRPF) is not the main cause of economic crises.… Heinrich makes the following points: 1) Marx’s law is indeterminate; 2) it is empirically unproven and even unjustifiable on any measure of verification; 3) Engels edited Marx’s works badly, distorting his views about the law in Capital Vol. 3; 4) Marx himself, in writings during the 1870s, began to have doubts about the law as the cause of crises and started to abandon it in favour of some theory that took into account credit, interest rates and the problem of realisation (similar to Keynesian theory); 5) Marx died before he could present these revisions of his crisis theory, so there is no coherent Marxist theory of crisis.… | more |

Marx and the Rift in the Universal Metabolism of Nature

The rediscovery over the last decade and a half of Marx’s theory of metabolic rift has come to be seen by many on the left as offering a powerful critique of the relation between nature and contemporary capitalist society. The result has been the development of a more unified ecological world view transcending the divisions between natural and social science, and allowing us to perceive the concrete ways in which the contradictions of capital accumulation are generating ecological crises and catastrophes.… Yet, this recovery of Marx’s ecological argument has given rise to further questions and criticisms.… | more |

Response to Heinrich—In Defense of Marx’s Law

It was Marx’s ultimate purpose, as stated in the preface to the first edition of Das Kapital, “to lay bare the economic law of motion of modern society.” It is clear that Marx regarded as his central achievement in this regard the “Law of the Falling Tendency of the Rate of Profit.” In vol.3, (p.303) he declares that: “The barrier of the capitalist mode of production becomes apparent… | more |

Critique of Heinrich: Marx did not Abandon the Logical Structure

Heinrich’s article is mainly about the falling rate of profit and crisis theory, but another important point has to do with Marx’s logical method in Capital, and in particular with the levels of abstraction of capital in general and competition. Heinrich argues that Marx encountered difficulties in the Manuscript of 1861-63 concerning this logical structure, and as a result of these difficulties, Marx abandoned this logical structure in the final versions of Capital.… | more |