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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… | more |

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… | more |

Good Conduct Certificate

In these bitter days we have seen pictures of an earthquake that reached 9 on the Richter Scale with hundreds of strong after-shocks, and a tsunami 10 metres high whose waves of dark waters dragged tens of thousands of people between cars and trucks over homes and 3 and 4 storey buildings.

Sophisticated mass media has been saturating our minds with the news of civil wars, arms trade associated with drugs that in just five years have killed more than 35,000 people in Mexico, climatic changes in various countries, asphyxiating heat waves, mountains of ice melting at the poles, torrential rains, shortages and growing prices for… | more |

The disasters threatening the world

IF the speed of light didn’t exist, if the closest star to our sun weren’t four light years away from Earth, the only inhabited planet in our solar system, if UFOs truly existed, imaginary visitors to the planet would continue their journey without understanding much of anything about our long-suffering human race.

Just a few centuries ago in the long history of humanity, no one knew what happened on the other side of the globe. Today we can find out instantaneously and, sometimes, they are events of great importance which affect all of the world’s peoples.

Two Earthquakes

A strong 8.9 on the scale earthquake shook Japan today. The most worrying is that early news reports were talking about thousands dead and missing, figures really unheard of in a developed country where all constructions are quake-proof. They were even talking about a nuclear reactor that was out of control. Hours later, it was informed that four nuclear plants close to the most affected area were under control. There was also information about a tsunami 10 metres high that had the entire Pacific area on tidal wave alert.

The powerless powers

This is a serious subject.

The summit meeting of leaders of the eight most highly industrialized powers on the planet took place July 7-9 at a mountain retreat on the banks of the Toyako, a lake formed inside a volcanic crater located in the north of the island of Hokkaido, in the northern reaches of the Japanese archipelago. It would be hard to choose a site more removed and distant from the madding crowd than this.

June 1998 (Volume 50, Number 2)

June 1998 (Volume 50, Number 2)

Notes from the Editors

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 the friendly advice and frustrated pleas of its partners in the developed capitalist world.

What do they want Japan to do? Simple: they want Japan to “be like us.” Open its markets, deregulate its financial and trading systems, and then step on the economic accelerator—reduce taxes, especially on the higher incomes,… | more |

March 1998 (Volume 49, Number 10)

March 1998 (Volume 49, Number 10)

Notes from the Editors

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

Value and Crisis: Essays on Marxian Economics in Japan

Value and Crisis: Essays on Marxian Economics in Japan

Notes from the Editors

Value and Crisis opens with a long and highly informative essay on the development of Marxian economics in Japan, and contains a number of the author’s important and original contributions to this stream of thought. Itoh discusses the major points of view on Marx’s theory of value, on theories of crisis, and on problems of Marx’s theory of market value.