Wednesday August 5th, 2015, 2:28 am (EDT)


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 |

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 |

May 2014 (Volume 66, Number 1)

May 2014 (Volume 66, Number 1)

» 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 |



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 |

Value and Crisis

Value and Crisis

Essays on Marxian Economics in Japan

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. … | more |

Reflections on the New International

Dedicated to the Memory and Legacy of President Hugo Chávez

The need for the establishment and successful operation of The New International is painfully obvious and urgent today. The enemies of a historically sustainable societal reproductive order, who occupy at the present time still the dominant position in our increasingly endangered world, do not hesitate for a moment to exploit in the interest of their destructive design, with utmost cynicism and hypocrisy, the existing decision-making and opinion-forming organs of the international community, from the Security Council of the United Nations to the great multiplicity of the national and international press and to the other mass media under their direct material stranglehold.… At the same time the adherents of the much needed socialist alternative are fragmented and divided among themselves, instead of internationally combining their strength for the cause of a successful confrontation with their adversaries.… | more |

Socialist Register 2014: Registering Class

Socialist Register 2014: Registering Class

For fifty years, the Socialist Register has brought together some of the world’s leading radical thinkers to address the most pressing issues of the day. Independent, searching, and erudite analysis is the hallmark of the Socialist Register, and this fiftieth-anniversary issue is no exception. Contributors to Registering Class examine some of our assumptions about class in the light of the global economic crisis and the many forms of resistance it has produced.… | more |

A Critique of Heinrich’s, ‘Crisis Theory, the Law of the Tendency of the Profit Rate to Fall, and Marx’s Studies in the 1870s’

Michael Heinrich’s article is really a continuation of the argument by Monthly Review that Marx’s law of the tendency of the rate of profit to fall (LTRPF) is not the main cause of economic crises.… Heinrich makes the following points: 1) Marx’s law is indeterminate; 2) it is empirically unproven and even unjustifiable on any measure of verification; 3) Engels edited Marx’s works badly, distorting his views about the law in Capital Vol. 3; 4) Marx himself, in writings during the 1870s, began to have doubts about the law as the cause of crises and started to abandon it in favour of some theory that took into account credit, interest rates and the problem of realisation (similar to Keynesian theory); 5) Marx died before he could present these revisions of his crisis theory, so there is no coherent Marxist theory of crisis.… | more |

Response to Heinrich—In Defense of Marx’s Law

It was Marx’s ultimate purpose, as stated in the preface to the first edition of Das Kapital, “to lay bare the economic law of motion of modern society.” It is clear that Marx regarded as his central achievement in this regard the “Law of the Falling Tendency of the Rate of Profit.” In vol.3, (p.303) he declares that: “The barrier of the capitalist mode of production becomes apparent… | more |