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Monthly Review Volume 67, Number 5 (October 2015)

October 2015 (Volume 67, Number 5)

Fifty years ago this month, beginning in early October 1965 and extending for months afterwards, the United States helped engineer a violent end to the Communist Party of Indonesia (PKI). Between 500,000 and a million Indonesians were killed by conservative factions of the military led by General Suharto and by right-wing Muslim youth—all with the direct involvement of the CIA, the close cooperation of the U.S. Embassy and State Department, and the guidance of the Johnson administration’s National Security Council.… In forthcoming issues of Monthly Review we are planning to publish work on the Indonesian genocide, which, alongside the Vietnam War, constitutes a major turning point in the history of Southeast Asia in the period, and one of the most brutal acts of mass carnage inflicted by imperialism in the twentieth century. The dire implications of this carry down to the present day.

New this week!

Puerto Rico: The Crisis Is About Colonialism, Not Debt

Tourists are fascinated by the heavy blue cobblestones that pave the streets of Old San Juan. Why they are there is as good an explanation as any for Puerto Rico’s current crisis. In the days of Spanish colonialism, they were ballast to keep the ships crossing the Atlantic from tossing about and blowing over. The ships came empty, and left for Spain full of gold, silver, and other riches stolen from the indigenous Taínos. The ballast left behind was used to pave the streets.… Puerto Rico has been sacked by colonial powers for half a millennium. Is it any wonder it is in dire straits? Today, it is $73 billion in debt.

The Part of “Illegal” They Don’t Understand

Anyone who really wants to understand U.S. immigration policy needs to read the brief history of the U.S.-Mexico border in Aviva Chomsky’s often-brilliant new book on immigration.… Politicians constantly tell us we have lost control of the border. In fact, as Undocumented demonstrates, never in the 166 years since the border was established by the 1848 Treaty of Guadalupe Hidalgo has it been so tightly controlled as it is now. For nearly half its history it was exactly the thing immigration opponents say they fear most—an open border. The first serious restrictions did not come until a head tax and a literacy requirement were imposed in 1917, and even then there was an exemption for Mexican workers, the people most likely to enter the country from the south.… The United States wanted this labor for a reason: it was cheap and disposable.

This article will be published without restriction on October 26th.

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Monthly Review Volume 67, Number 4 (September 2015)

September 2015 (Volume 67, Number 4)

In the U.S. case, imperialism has always been closely tied to a system of racial domination at home. As W.E.B. Du Bois wrote some sixty years ago in “Negroes and the Crisis of Capitalism in the United States” (Monthly Review, April 1953; reprinted in April 2003),

The United States, with its existing social structure, cannot abolish the color line despite its promises. It cannot stop injustice in the courts based on color and race. Above all, it cannot stop the exploitation of black workers by white capital, especially in the newest South. White North America beyond the urge of sound economics is persistently driving black folk toward socialism. It is the United States which is straining every effort to enslave Asia and Africa, and educated and well-to-do black Americans are coming to know this just as well as anybody. They may delay their reaction; they may hold ominous silence. But in the end, if this pressure keeps up, they will join the march to economic emancipation [the struggle against capitalism], because otherwise they cannot themselves be free.

Despite the gains of the civil rights era, the reemergence of what is now called the “New Jim Crow,” based on the mass incarceration and repeated police killings of unarmed black men, shows that the old systems of racial control have been “modernized” in the present, maintaining the color line, if in modified fashion: not only in relation to black Americans—though they have a special position emerging out of the whole legacy of slavery…—but also with respect to all other people of color as well.

An Anti-Imperialist Feminist’s Tale

Roberta Salper, Domestic Subversive: A Feminist Take on the Left, 1960–1976 (Tucson: Anaphora Literary Press, 2014), 236 pages, $20, paperback.

Since second wave feminism is the largest social movement in the history of the United States, it is surprising that there are fewer than a dozen autobiographies written by the activists of the late 1960s and early ’70s. Roberta Salper’s Domestic Subversive is a welcome addition, especially because it is well-written, often with humor, and promises an anti-imperialist feminist analysis.… Domestic Subversive is a feminist’s take on a range of organizations of the left from 1960 to 1976: the student movement in Spain, New Left movement in the United States, Marxist-Leninist Puerto Rican Socialist Party in the United States and Puerto Rico, and a prestigious liberal think tank in Washington, D.C., the Latin American Unit of the Institute of Policy Studies (IPS), where she worked as a Resident Fellow.

Wall Street's Think Tank: The Council on Foreign Relations and the Empire of Neoliberal Geopolitics, 1976-2014

Wall Street’s Think Tank: The Council on Foreign Relations and the Empire of Neoliberal Geopolitics, 1976-2014

The Council on Foreign Relations is the most influential foreign-policy think tank in the United States, claiming among its members a high percentage of government officials, media figures, and establishment elite. For decades it kept a low profile even while it shaped policy, advised presidents, and helped shore up U.S. hegemony following the Second World War. In 1977, Laurence H. Shoup and William Minter published the first in-depth study of the CFR, Imperial Brain Trust, an explosive work that traced the activities and influence of the CFR from its origins in the 1920s through the Cold War. Now, Laurence H. Shoup returns with this long-awaited sequel, which brings the story up to date. Wall Street's Think Tank follows the CFR from the 1970s through the end of the Cold War and the collapse of the Soviet Union to the present.

July-August 2015 (Volume 67, Number 3)

July-August 2015 (Volume 67, Number 3)

Notes from the Editors

May’s Review of the Month, “Honor the Vietnamese, Not Those Who Killed Them” by MR Associate Editor Michael D. Yates, has elicited many responses. One writer said that Yates had written the best, but perhaps the first, Marxist analysis of the war. Another praised Monthly Review for having the courage to publish this article. Still a third predicted that in the more distant future, humanity would embrace the essay’s judgment and honor the Vietnamese people for their heroic struggle against the overwhelming might of the U.S. military.… In light of these comments, as well as the subject matter of this double issue of Monthly Review on imperialism, we thought it might be worthwhile to say something more about what the Vietnamese themselves naturally enough call the American War, with an eye toward drawing important lessons useful for contemporary radicals.

The New Imperialism of Globalized Monopoly-Finance Capital

An Introduction

It is now a universal belief on the left that the world has entered a new imperialist phase.… The challenge for Marxian theories of the imperialist world system in our times is to capture the full depth and breadth of the classical accounts, while also addressing the historical specificity of the current global economy. It will be argued in this introduction (in line with the present issue as a whole) that what is widely referred to as neoliberal globalization in the twenty-first century is in fact a historical product of the shift to global monopoly-finance capital or what Samir Amin calls the imperialism of “generalized-monopoly capitalism.”

Contemporary Imperialism

Lenin, Bukharin, Stalin, and Trotsky in Russia, as well as Mao, Zhou Enlai, and Den Xiaoping in China, shaped the history of the two great revolutions of the twentieth century. As leaders of revolutionary communist parties and then later as leaders of revolutionary states, they were confronted with the problems faced by a triumphant revolution in countries of peripheral capitalism and forced to “revise”…the theses inherited from the historical Marxism of the Second International.… With the benefit of hindsight, I will indicate here the limitations of their analyses. Lenin and Bukharin considered imperialism to be a new stage (“the highest”) of capitalism associated with the development of monopolies. I question this thesis and contend that historical capitalism has always been imperialist, in the sense that it has led to a polarization between centers and peripheries since its origin (the sixteenth century), which has only increased over the course of its later globalized development.

Behind the Veil of Globalization

Globalization is not a novel development in the history of capitalism. In his final Monthly Review article, Paul Sweezy argued that globalization is a process, and that it has been occurring for a long time.… The accumulation of capital…has always meant expansion. Furthermore, this very process of growing and spreading is global in scope and, most importantly, imperialistic in its characteristics. Marxist scholars have long argued that imperialism has always accompanied capitalism…. Nevertheless, even if we start with the idea that globalization—or global capitalist expansion—is not novel, this does not trample the argument that the development of such expansion is marked by new characteristics in certain periods. Examining these historically specific characteristics can highlight the imperialistic “nature” of capitalism throughout history, including the development of our current global economy, which will be the focus of this essay.

Imperialism and the Transformation of Values into Prices

In this article, we aim to demonstrate that the low prices of goods produced in the global South and the attendant modest contribution of its exports to the Gross Domestic Product of the North conceals the real dependence of the latter’s economies on low-waged Southern labor. We argue that the relocation of industry to the global South in the past three decades has resulted in a massive increase of transferred value to the North. The principal mechanisms for this transfer are the repatriation of surplus value by means of foreign direct investment, the unequal exchange of products embodying different quantities of value, and extortion through debt servicing.

Imperialism in the Era of Globalization

Capitalism is preeminently a money-using system where a large part of wealth is held either in the form of money or as money-denominated assets, namely financial assets. For the system to work, it is essential that the value of money should not keep declining against commodities; otherwise people would move away from holding money, and it would cease to be not just a form of wealth, but even a medium of circulation.… Hence, capitalism seeks to ensure the stability of the value of money in a number of ways. One is the maintenance of a vast reserve army of labor, not just within the metropolis but also in the third world.