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Notes from the Editors

Notes from the Editors

February 2011, Volume 62, Number 9

February 2011, Volume 62, Number 9

» Notes from the Editors

The two lead articles in this issue of Monthly Review are both outgrowths of important new books published by Monthly Review Press. Samir Amin’s article, “The Trajectory of Historical Capitalism and Marxism’s Tricontinental Vocation,” is based on recent developments in his theoretical outlook presented in The Law of Worldwide Value…. A substantially revised and extended version of his earlier work, The Law of Value and Historical Materialism (Monthly Review Press, 1978), The Law of Worldwide Value also incorporates new conceptual breakthroughs, making it a major advance in itself.… The article by Richard York and Brett Clark entitled “Stephen Jay Gould’s Critique of Progress” is taken from their book The Science and Humanism of Stephen Jay Gould…. Gould’s far-ranging work in natural history, biology, and paleontology—even extending to the humanities and the social sciences—has fascinated countless readers, but the complexity of his thought and the extent of his intellectual commitments have defied previous attempts to bring out the unity of his work.… | more |

January 2011, Volume 62, Number 8

January 2011, Volume 62, Number 8

» Notes from the Editors

In November, Fred Magdoff traveled to Shanghai with his wife, Amy Demarest, to attend the Marxism and Ecological Civilization conference at Fudan University (see the Review of the Month in this issue). Here are some reflections from Fred about the conference, Shanghai, and China, past and present… | more |

December 2010, Volume 62, Number 7

December 2010, Volume 62, Number 7

On October 16, MR editor John Bellamy Foster attended a lecture in Eugene, Oregon given by James Hansen, director of NASA’s Goddard Institute for Space Studies. Hansen is the leading U.S. climatologist and the world’s foremost voice for carbon emissions reductions. According to Hansen, we are facing two major tipping points associated with climate change: (1) ice sheet disintegration in Antarctica and Greenland, leading to a massive global sea level rise; and (2) a sudden acceleration in species extinction rates (already 100 to 1,000 times the preindustrial “background rate”), as climate zones begin to move much faster than species can move in response.… Hansen’s message was clear: the future of the planet will be in many ways determined by what we do “in the next several years.” This, he insists, is not a problem to be left to the next generation, since we “could create a situation out of the control of young people by the time they become adults.”… | more |

November 2010, Volume 62, Number 6

November 2010, Volume 62, Number 6

» Notes from the Editors

Although the Great Recession officially ended in the U.S. economy more than a year ago (June 2009), for most people—especially the long-term unemployed, minorities, and youth—the effects are far from over. Indeed, it is a measure of the economic malaise in which the industrialized countries remain mired that the specter of stagnation is once again haunting mainstream discourse. As Paul Krugman recently observed, the U.S. economy is experiencing “what looks increasingly like a permanent state of stagnation and high unemployment” akin to the 1930s (“This is Not a Recovery,” New York Times, August 26, 2010)… | more |

October 2010, Volume 62, Number 5

October 2010, Volume 62, Number 5

» Notes from the Editors

To understand the disaster that is present-day economics, it is crucial to recognize that we are living today, not only in the deepest economic crisis/stagnation since the Great Depression, but also—as Paul Krugman declared in his New York Times blog on January 27, 2009—in “A Dark Age of Macroeconomics,” in which the central discoveries of the 1930s have been forgotten or discarded. “What made the Dark Ages dark,” Krugman wrote, “was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.” The critical knowledge lost that gave rise to the new Dark Age in Macroeconomics, he claimed, was none other than the Keynesian Revolution centered on the critique of Say’s Law, or the notion that supply creates its own demand. In the context of arguing against government deficit spending, leading economists at the University of Chicago, the bastion of reaction in economics, have reverted to a “pure Say’s Law, pure ‘Treasury view’” by insisting that increased savings automatically lead to increased investment, while government borrowing invariably “crowds out” investment… | more |

September 2010, Volume 62, Number 4

September 2010, Volume 62, Number 4

» Notes from the Editors

During the period stretching from the 1970s through the 1990s, Monthly Review, under the editorship of Harry Magdoff and Paul Sweezy, stood apart in its analysis of the tendency to economic stagnation in advanced capitalism and its view that the economic slowdown beginning in the 1970s was a manifestation of this secular tendency. The financial explosion that also emerged in these years was seen as an attempt by the system to stave off stagnation by means of credit-debt expansion, but at the cost of increasing financial fragility… | more |

July-August 2010, Volume 62, Number 3

July-August 2010, Volume 62, Number 3

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For those wishing to understand the theory and practice of “socialism for the 21st century,” the publication this summer of Michael Lebowitz’s The Socialist Alternative: Real Human Development (Monthly Review Press) is a major event. Like Marta Harnecker, whose work, “Latin America and Twenty-First Century Socialism: Inventing to Avoid Mistakes,” forms the content of this issue of Monthly Review, Lebowitz is associated with the Centro Internacional Miranda research institute in Venezuela, is an advisor to President Hugo Chávez, and is a major Marxian theorist and political economist. He is also author of Beyond Capital: Marx’s Political Economy of the Working Class, and, more recently, Build it Now (Monthly Review Press, 2006)… | more |

June 2010, Volume 62, Number 2

June 2010, Volume 62, Number 2

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The World People’s Conference on Climate Change and the Rights of Mother Earth held April 20-22, 2010, in Cochabamba, Bolivia, will undoubtedly be remembered as a major historical turning point in the struggle over climate change. Over 35,000 people from 142 countries attended….For perhaps the first time, the issue of the planetary environmental crisis was wrested entirely from the ideological control of the rich countries of the North in a major international forum, leading to the development of a radical South-based perspective.… | more |

May 2010, Volume 62, Number 1

May 2010, Volume 62, Number 1

» Notes from the Editors

The more serious the problem of climate change becomes, the more revolutionary the change needed to address it—the more we can expect powerful economic and social interests to deny the seriousness of the problem: playing up scientific uncertainties that always exist, and casting doubt on climate science itself. The object of such a response is to manipulate public opinion so as to sow confusion and arrest any attempt to alter business as usual.… | more |

April 2010, Volume 61, Number 11

April 2010, Volume 61, Number 11

» Notes from the Editors

April 10, 2010, marks the hundredth anniversary of the birth of Paul Sweezy (1910-2004), and December 8, 2010, will mark a century since the birth of Paul Baran (1910-1964). Their joint work, Monopoly Capital: An Essay on the American Economic and Social Order ,was published by Monthly Review Press in 1966. Between this month and December, we intend to commemorate the Baran-Sweezy Centennial through items to appear in Monthly Review, MRzine, and the MR Webpage. We will also commemorate this year the work of their close friend and colleague Harry Magdoff, born August 21, 1913, whose writing is inextricably connected to theirs.… | more |

March 2010, Volume 61, Number 10

March 2010, Volume 61, Number 10

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Twice recently, Monthly Review—in “The Vulnerable Planet Fifteen Years Later” (December 2009) and in “Why Ecological Revolution?” (January 2010), both by John Bellamy Foster—has highlighted the fact that the UN Intergovernmental Panel on Climate Change (IPCC) warned in its most recent (2007) report that the Himalayan glaciers could vanish altogether by 2035. Since the appearance of the January issue of MR, however, this has been revealed as an error on the part of the IPCC—a claim that, according to the IPCC itself, should never have appeared in its report.…Global warming deniers, mostly on the right, are making all they can out of this mishap in the IPCC’s report, using it to throw scorn on the whole process of climate change science. Both the mistake itself and the dissemination of the error by scientists, environmentalists, and the news media are being dubbed “glaciergate” by the IPCC’s critics.…Yet science should never be regarded as error free. Indeed, crucial to the working of the scientific method is that science is self-correcting. This particular mistake has already been acknowledged by the IPCC and will be followed up by detailed scientific studies in this area, coupled with attempts to improve IPCC review procedures.… | more |

February 2010, Volume 61, Number 9

February 2010, Volume 61, Number 9

» Notes from the Editors

If it is the best of times for the bankers, it is the worst of times for workers. The titans of Wall Street came calling in Washington, D.C. just a few months ago, and were given the keys to the Treasury’s vault. So successful has been the government’s multi-trillion-dollar bailout that even those giant financial institutions in the worst shape are paying back what they owe, mainly to get out from under what they consider to be onerous public interference in their extraordinarily lucrative business activities.…Where bankers once sat quietly while the people’s presumed tribunes in Congress scolded them for their errant ways, now they are dictating the terms of financial “reform” and feeling bold enough to phone in their regrets when fog delayed their plane and they couldn’t make a White House meeting with President Obama, who is begging them day and night to start making loans.… | more |

January 2010, Volume 61, Number 8

January 2010, Volume 61, Number 8

As this issue goes to press, the Copenhagen climate summit, which Nicholas Stern, author of The Economics of Climate Change, has referred to as “the most important meeting since the Second World War,” is about to begin. The summit was supposed to herald a new global climate treaty, to replace the failed and expiring Kyoto Protocol. The goal was to create an ambitious, binding international agreement on emissions reductions. Yet, barely a week before its commencement (as we write this) it seems destined to fail.… | more |

Notes from the Editors, December 2009

Notes from the Editors, December 2009

» Notes from the Editors

In this issue we are reprinting C. Wright Mills’s “Psychology and Social Science” from the October 1958 issue of Monthly Review. The argument of this piece was subsequently incorporated in Mills’s Sociological Imagination, which appeared fifty years ago this year, and constituted a powerful indictment of mainstream social science. Both “Psychology and Social Science” and the larger Sociological Imagination were strongly influenced by “the principle of historical specificity” as described in Karl Korsch’s Karl Marx. Mills used this to construct a radical challenge to the prevailing notion of a permanent “human nature,” applicable to all societies and social situations. He later referred to The Sociological Imagination — in a letter to an imaginary Soviet correspondent (part of a work he was writing, to be called Letter to a Russian Intellectual) — as “a kind of ‘Anti-Duhring,’” constituting his radical break with ahistorical social science.… | more |

Notes from the Editors, November 2009

Notes from the Editors, November 2009

» Notes from the Editors

The Monthly Review sixtieth anniversary celebration at the New York Society for Ethical Culture on September 17, 2009, was a great success. A large crowd turned out to hear Grace Lee Boggs, John Bellamy Foster, Robert W. McChesney, Fred Magdoff, Michael Tigar, Toshi Reagon (providing music), and the Reverend Jeremiah Wright, and to celebrate MR’s birthday. We would like to thank all those who participated in this extraordinary event. Dr. Wright captured the tone of the evening, declaring that: “Militarism, capitalism and racism, domestic oppression, foreign military aggression, victims of neo-colonialism, victims of community and national racism, and the Cold War days in its infancy to the needless war in Vietnam in its [MR’s] second decade, through wars of greed in Afghanistan and Iraq in [its] sixth decade” were all incisively covered by the magazine. He spoke of Monthly Review’s indefatigable insistence on the need to put “people before profits,” and its unflinching criticisms of inequality, injustice, and the realities of capitalism. (See Daa’iya L. Sanusi, Amsterdam News, September 24-30, 2009)… | more |

Notes from the Editors, October 2009

Notes from the Editors, October 2009

» Notes from the Editors

At the time of this writing (late August), the business news in the United States is full of discussions of “recovery” from the worst economic crisis since the Great Depression. Yet, while the economy appears to have bottomed out and a recovery of sorts may be in the works, this is in many ways misleading. Although a technical or formal recovery seems quite likely by the end of the year — with a small increase in economic growth mainly due to inventory restocking — it is unlikely to feel like a recovery to most individuals in the society. This is because official unemployment is projected to rise to the low double-digits by the end of this year or the beginning of next year — with the numbers of those dropping out of the labor market due to discouragement, or seeking part-time work because they are unable to obtain a full-time job, also growing. All of this points to a “jobless” and “wageless” recovery. As New York University economist Nouriel Roubini wrote in an August 13 column for Forbes.com, “It is very difficult to argue that the U.S. economy is not still in a recession while the labor market is still weak.” Indeed, what is really at issue is not simply recession and recovery but the longer-term structural crisis of capitalism. This is the subject of the Review of the Month, which seeks to place the current crisis in the context of the long-term development of capital accumulation and crisis.… | more |

Notes from the Editors, September 2009

Notes from the Editors, September 2009

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This month’s Review of the Month by Martin Hart-Landsberg, which addresses the Bolivarian Alternative for the America’s (ALBA), was written before the June 28, 2009, military coup d’état in Honduras (an ALBA member country) that deposed democratically elected President Manuel Zelaya, expelling him from the country. Here are seven facts on the coup:… | more |

Notes from the Editors, July 2009

Notes from the Editors, July 2009

» Notes from the Editors

A new book by economist Frank Ackerman, Can We Afford the Future?: The Economics of a Warming World (Zed, 2009), presents an important and startling thesis: “As the climate science debate is reaching closure, the climate economics debate is heating up. The controversial issue now is the fear that overly ambitious climate initiatives could hurt the economy”(6). With climate-change skeptics losing influence, mainstream economists—always the ultimate ideological defenders of the capitalist system—are stepping into the breach to ensure inaction on global warming. Armed with cost-benefit analyses, they report that saving the planet for its inhabitants may be all very well and good… but it is simply too expensive for the capitalist economy to afford.… | more |

Notes from the Editors, June 2009

Notes from the Editors, June 2009

» Notes from the Editors

The grim state of the U.S. economy in early 2009 was brought into sharp relief by economic data released at the end of April. Industrial production in the first quarter of this year dropped by an annual rate of 20 percent, while manufacturing capacity utilization (the operating rate of manufacturing plant and equipment) sank to 65.8 percent in March, the lowest level since the Federal Reserve Board series was introduced in 1948 (industrial capacity utilization as a whole is currently at 69.3 percent, its lowest point since that measurement began in 1967).… | more |

Notes from the Editors, May 2009

Notes from the Editors, May 2009

» Notes from the Editors

This issue of Monthly Review marks the sixtieth anniversary of the magazine. We are reprinting here Albert Einstein’s classic article “Why Socialism?,” written for volume 1, no. 1, of Monthly Review (May 1949). On Thursday, September 17, we will meet together at the Ethical Culture Society in Manhattan to celebrate and to promote a global socialism for the twenty-first century. We invite all our subscribers and friends.… | more |

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