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September 2007, Volume 59, Number 4 c o n t e n t s
We have been arguing in these pagesfor more than three decades that the dominant economic reality of advanced capitalism is a tendency toward stagnation of production accompanied by financial explosion. In an article on “The Centrality of Finance,” in the August 2007 issue of the Journal of World-System Research, MR and MR Press author William K. Tabb writes: Real global growth averaged 4.9 percent a year during the Golden Age of national Keynesianism (1950–1973). It was 3.4 percent between 1974 and 1979; 3.3 percent in the 1980s; and only 2.3 percent in the 1990s, the decade with the slowest growth since World War II. The slowing of the real economy led investors to seek higher returns in financial speculation....[I]increased liquidity and lower costs of borrowing encouraged in turn further expansion of finance. The coincident trends of growing inequality and insecurity...and the spreading power of rapid financialization do not suggest a smooth continued expansion path for a society based on increased debt and growing leverage. (http://jwsr.ucr.edu/index.php)| more | REVIEW OF THE MONTH: 1. 'Enemy Combatant' or Enemy of the Government? By introducing the concept of war into national law, the latest U.S. anti- terrorist law, the Military Commissions Act of 2006 (MCA), produces a turning point in the legal and political organization of the Western world. It puts an end to a form of state that succeeded in “establishing peace internally and excluding hostility as a concept of law.”1 It is the constituent act of a new form of state that establishes war as a political relation between constituted authorities and national populations. 2. A System of Wholesale Denial of Rights As in the past, Americans owe Jean-Claude Paye a debt of gratitude. From his position, as a sociologist in Brussels, he has proven that he can see what is happening in George Bush’s and Dick Cheney’s America, more clearly perhaps than many who live in the United States. Socialist Strategies in Latin American The Latin American left is once again discussing the paths to socialism. The correlation of forces has changed through popular action, the crisis of neoliberalism, and U.S. imperialism’s loss of offensive capability. It is no longer relevant to juxtapose a revolutionary political period of the past with a conservative present. The social weakness of the industrial working class does not impede anti-capitalist progress, which depends on the exploited and the oppressed uniting in common struggle. Dual Power in the Venezuelan Revolution Too often, the Bolivarian Revolution currently underway in Venezuela is dismissed by its critics—on the right and left—as a fundamentally statist enterprise. We are told it is, at best, a continuation of the corrupt, bureaucratic status quo or, at worst, a personalistic consolidation of state power in the hands of a single individual at the expense of those “checks and balances” traditionally associated with western liberal democracies. These perspectives are erroneous, since they cannot account for what have emerged as the central planks of the revolutionary process. I will focus on the most significant of these planks: the explosion of communal power. The State of Official Marxism in China Today During November 13–14, 2006, I participated in an “International Conference on Ownership & Property Rights: Theory & Practice,” in Beijing. This was not just an academic conference, it was related to a sharp debate taking place in China at that time over a proposed new law on property rights.1 Although none of the presentations at the conference made any direct reference to the proposed new law, everyone knew that it was the subtext of the conference debate. Poetry: Director's Notes Adrienne Rich is the author of more than sixteen volumes of poetry and four nonfiction prose books. She is the recipient of numerous awards and prizes, including a MacArthur Fellowship and the 1999 Lannan Foundation Lifetime Achievement Award. |
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