Tuesday October 21st, 2014, 11:09 am (EDT)

Marxism

October 2014 (Volume 66, Number 5)

October 2014 (Volume 66, Number 5)

Secular stagnation (or the trend towards long-term slow growth and continuing high unemployment/underemployment) has become a big issue in the mature economies since 2013, when former U.S. Treasury Secretary Larry Summers raised the question at an IMF economic forum. Compilations of work on the subject can now be found on the Internet, such as the one by economists Coen Teulings and Richard Baldwin; which however leaves out all contributions by heterodox economists. Teulings and Baldwin credit Summers with having “resurrected” the secular stagnation issue. But is this true? Only in the sense that he reintroduced it to mainstream neoclassical economics. It has long been a topic on the left, and particularly in Monthly Review, where editor Paul Sweezy explicitly drew attention to the “secular stagnation” question more than forty years ago—with MR tracking the stagnation trend month by month in the four decades that followed.… Isn’t it about time…that orthodox economists, Summers included, began to acknowledge the enormous work done on this topic on the left over decades, and indeed the greater complexity and historicity of the analysis to be found there—not only in MR but within heterodox economics more generally? Such an admission might even do orthodox economists some good.… | more |

New this week!

E.P. Thompson: A Giant Remembered

Cal Winslow, ed., E.P. Thompson and the Making of the New Left: Essays & Polemics (New York: Monthly Review Press, 2014), 333 pages, $23.00, paperback.

It is surely difficult for young people today to grasp that thirty years or so ago, radical historian-activist Edward Thompson was by opinion polls intermittently the second or third most popular person in England, just after the Queen Mother. This was despite the British establishment, to say nothing of U.S. Cold Warriors (liberal or conservative), slandering him for decades—and why not? He had led massive protest movements of ordinary people against their government. Worse, in cloistered academic quarters he was viewed as having reorganized the whole idea of social history and turned it over to ordinary people! More than anyone else in the English-speaking world, he made the history of such people important.… | more |

The Term ‘Capitalism’ Has Lost Its Radical Edge

Fred Block responds to the Notes from the Editors, June 2014, which drew attention to Block’s recently published article, “Varieties of What?: Should We Still Be Using the Concept of Capitalism?” The editors reply.… | more |

"Thompson's writings are indispensable weapons for a new generation of activists struggling to reinvent radicalism."
—Sheila Rowbotham

E.P. Thompson and the Making of the New Left

Essays and Polemics

The essays in this book, many of which are either out-of-print or difficult to obtain, were written between 1955 and 1963 during one of the most fertile periods of E. P. Thompson’s intellectual and political life, when he wrote his two great works, The Making of the English Working Class and William Morris: Romantic to Revolutionary. They reveal Thompson’s insistence on the vitality of a humanistic and democratic socialism along with the value of utopian thinking in radical politics. Throughout, Thompson struggles to open a space independent of official Communist Parties and reformist Social Democratic Parties, opposing them with a vision of socialism built from the bottom up. Editor Cal Winslow, who studied with Thompson, provides context for the essays in a detailed introduction and reminds us why this eloquent and inspiring voice remains so relevant to us today. … | more |

July-August 2014 (Volume 66, Number 3)

July-August 2014 (Volume 66, Number 3)

Allusions to Marx seem to be emanating from all points of the political compass these days in the context of the current political-economic crisis of capitalism, reflecting the remarkable resurgence of both Marxism and anti-Marxism. What is especially notable in this respect is the extent to which such allusions have come to focus on the saying, “from each according to his ability, to each according to his needs”—usually identified with Marx’s famous 1875 Critique of the Gotha Programme. Conservatives frequently quote “from each according to his ability” (ignoring the rest of the saying) and use it as a kind of code phrase for “Marxism” to attack all progressive measures.… | more |

"A work of exemplary scholarship, written with penetrating insights and steadfast commitment."
—István Mészáros

Reconstructing Lenin

An Intellectual Biography

Vladimir Ilyich Lenin is among the most enigmatic and influential figures of the twentieth century. While his life and work are crucial to any understanding of modern history and the socialist movement, generations of writers on the left and the right have seen fit to embalm him endlessly with superficial analysis or dreary dogma. Now, after the fall of the Soviet Union and “actually-existing” socialism, it is possible to consider Lenin afresh, with sober senses trained on his historical context and how it shaped his theoretical and political contributions. Reconstructing Lenin, four decades in the making and now available in English for the first time, is an attempt to do just that. … | more |

A World to Build

A World to Build

New Paths toward Twenty-First Century Socialism

Over the last few decades Marta Harnecker has emerged as one of Latin America’s most incisive socialist thinkers. In A World to Build, she grapples with the question that has bedeviled every movement for radical social change: how do you construct a new world within the framework of the old? Harnecker draws on lessons from socialist movements in Latin America, especially Venezuela, where she served as an advisor to the Chávez administration and was a director of the Centro Internacional Miranda. … | more |

Transforming Classes

Transforming Classes

Socialist Register 2015

For more than half a century, the Socialist Register has brought together some of the sharpest thinkers from around the globe to address the pressing issues of our time. Founded by Ralph Miliband and John Saville in London in 1964, SR continues their commitment to independent and thought-provoking analysis, free of dogma or sectarian positions. Transforming Classes is a compendium of socialist thought today and a clarifying account of class struggle in the early twenty-first-century, from China to the United States. … | 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 |

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 |

The Longer View

The Longer View

Essays Toward a Critique of Political Economy

These essays by the author of The Political Economy of Growth and co-author of Monopoly Capital cover the working range of a strong and original mind. They are as diverse as his well-known discussion of Marxism and psychoanalysis, and his expert handling of the politics and economics of development.… | more |

PolyluxMarx

PolyluxMarx

An Illustrated Workbook for Studying Marx’s Capital

Reading Capital can be a daunting endeavor and most readers need guidance when tackling this complex work. PolyluxMarx provides such guidance. Developed by scholars and political activists associated with the Rosa Luxemburg Stiftung (Foundation), one of the leading political education institutions in Germany, this book has been field tested with groups studying Marx’s masterpiece over several years. It consists of a large set of PowerPoint presentations, combined with detailed annotations and suggestions for ways to discuss the material. Each page illustrates a central argument from Capital, provides helpful introductory texts, and supplies notes on methodology and teaching tips. PolyluxMarx is an ingeniously devised illustrated workbook that will help readers grasp the key arguments of Capital.… | 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.

Proposing a Path to Socialism: Two Papers for Hugo Chávez

Everyone understands that it is impossible to achieve the vision of socialism for the twenty-first century in one giant leap forward. It is not simply a matter of changing property ownership. This is the easiest part of building the new world. Far more difficult is changing productive relations, social relations in general, and attitudes and ideas.… To transform existing relations into the new productive relations, we need first of all to understand the nature of the existing relations. Only then can you identify the mechanisms by which the new relations can be introduced. At this time, there is a great variety of experiments and approaches to changing productive relations which are being pursued. There is no attempt to set out specific proposals here but only to provide the framework in which such changes should be explored in order to move toward socialist productive relations.… | more |

Baran’s Critique of Modern Society and of the Social Sciences

We are publishing here for the first time a talk that Herbert Marcuse delivered at Stanford University on April 1, 1966, as part of a two-day conference on Paul A. Baran, entitled “Baran and American Radicalism Today”—commemorating the second anniversary of Baran’s death (on March 26, 1964). The talk was transcribed from a recording from the conference made available to us by Baran’s son, Nicholas Baran. Various editorial annotations have been added in the form of endnotes.

The Baran–Sweezy Letters Project

The correspondence of Paul Baran and Paul Sweezy in the 1950s and early ‘60s is one of the great, unknown legacies of Marxian political economy in the United States. Over the past year and a half, I have been transcribing all of these letters with the goal of having the collection published by Monthly Review press, both as a hardcopy book of selected letters, as well as an unabridged e-book. In commemoration of my father, Paul A. Baran, on the fiftieth anniversary of his death on March 26, 1964, we decided to refer publicly for the first time to the Baran–Sweezy Letters Project and to publish a few important and representative letters.… | more |

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