Thursday May 7th, 2015, 5:41 am (EDT)


"Indispensable... To say that I highly recommend it to all of those concerned with these issues would be an understatement."
—John Bellamy Foster

Three Essays on Marx’s Value Theory

In this slim, insightful volume, noted economist Samir Amin returns to the core of Marxian economic thought: Marx’s theory of value. Amin defends Marx’s theory of value against its critics and also tackles some of its trickier aspects. He examines the relationship between Marx’s abstract concepts—such as “socially necessary labor time”—and how they are manifested in the capitalist marketplace as prices, wages, rents, and so on. He also explains how variations in price are affected by the development of “monopoly-capitalism,” the abandonment of the gold standard, and the deepening of capitalism as a global system.… | more |

The Implosion of Contemporary Capitalism

The Implosion of Contemporary Capitalism

Renowned political economist Samir Amin, engaged in a unique lifelong effort both to narrate and affect the human condition on a global scale, brings his analysis up to the present—the world of 2013. The key events of our times—financial crisis, the emerging nations, globalization, financialization, political Islam, Euro–zone implosion—are related in a coherent, historically based, account. … | more |

St. Brecht and the Theatrical Stock Exchange

This is an abridged version of an article by the same title published in Review1, launched in 1965 as Monthly Review’s literary supplement. Eleanor Hakim was the managing editor of Studies on the Left in its first few years. At the time she wrote this article she was teaching at the New School for Social Research in New York City. Her essay dealt with Brecht’s theory of the subversive role of the artist in confronting what he conceived as the “cultural apparatus”and how this affected his theory of epic theater. Hakim was particularly concerned with demonstrating that Brecht’s critical outlook was confirmed by the way that, after his death, the U.S. cultural apparatus (“the theatrical stock exchange” of her title) was manipulating and de-radicalizing his drama. In this context, she drew out the significance of Brecht’s revolutionary humanism.… —Eds.

Communications in Capitalist Society

In no field do the claims of democratic diversity and free political competition which are made on behalf of the “open societies” of advanced capitalism appear to be more valid than in the field of communications—the press, the written word generally, radio, television, the cinema, and the theatre. For in contrast to Communist and other “monolithic” regimes, the means of expression in capitalist countries are not normally monopolized by, and subservient to, the ruling political power. Even where, as is often the case for radio and television, agencies of communication are public institutions, or mixed ones, they are not simply the mouthpieces of the government of the day and exclusively the organs of official policy or opinions; opposition views are also heard and seen.… The importance and value of the freedom and opportunity of expression is not to be underestimated. Yet the notion of pluralist diversity and competitive equilibrium is, here as in every other field, rather superficial and misleading. For the agencies of communication and notably the mass media are, in reality, and the expression of dissident views notwithstanding, a crucial element in the legitimation of capitalist society. Freedom of expression is not thereby rendered meaningless. But that freedom has to be set in the real economic and political context of these societies; and in that context the free expression of ideas and opinions mainly means the free expression of ideas and opinions which are helpful to the prevailing system of power and privilege.… | more |

The Socialist Imperative

The Socialist Imperative

From Gotha to Now

Michael A. Lebowitz explores the obvious but almost universally ignored fact that as human beings work together to produce society’s goods and services, we also “produce” something else: namely, ourselves. Human beings are shaped by circumstances, and any vision of socialism that ignores this fact is bound to fail, or, at best, reproduce the alienation of labor that is endemic to capitalism. But how can people transform their circumstances in a way that allows them to re-organize production and, at the same time, fulfill their human potential? These essays repay careful reading and reflection, and prove Lebowitz to be one of the foremost Marxist thinkers of this era.… | more |

Monthly Review Volume 65, Number 1 (May 2013)

Monthly Review Volume 65, Number 1 (May 2013)

» Notes from the Editors

Millions of people throughout the world mourned the death of Venezuelan President Hugo Chávez on March 5, 2013. Monthly Review responded at the time with numerous pieces posted on MRzine. We would like, however, to record here briefly something of MR’s own special relationship to the late president, and what we think constitutes his indelible legacy to socialism in the twenty-first century. MR’s unique connection to Chávez was largely through the influence of István Mészáros—whose relationship to Chávez stretched back for over twenty years, and whom Chávez called “the pathfinder of 21st century socialism”—and through Marta Harnecker and Michael Lebowitz, who both served as consultants to Chávez.… More than a decade followed in which the socialist revolution under Chávez moved forward, creating huge material, social, and cultural improvements for the Venezuelan population, and vastly increased the power of the people over their own lives through new socialist institutions…. The most vital revolutionary achievement in these years was the introduction of the famous “communal councils”—the general idea for which, as Chávez himself stressed on numerous occasions, was taken from Mészáros’s Beyond Capital.… | more |

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

In Marx’s work, no final presentation of his theory of crisis can be found. Instead, there are various approaches to explain crises. In the twentieth century, the starting point for Marxist debates on crisis theory was the third volume of Capital, the manuscript of which was written in 1864–1865. Later, attention was directed towards the theoretical considerations on crisis in the Theories of Surplus-Value, written in the period between 1861 and 1863. Finally, the Grundrisse of 1857–1858 also came into view, which today plays a central role in the understanding of Marx’s crisis theory for numerous authors. Thus, starting with Capital, the debate gradually shifted its attention to earlier texts. With the Marx Engels Gesamtausgabe (MEGA), all of the economic texts written by Marx between the late 1860s and the late 1870s are now available. Along with his letters, these texts allow for an insight into the development of Marx’s theoretical considerations on crisis after 1865.… | more |

Class War and Labor’s Declining Share

Given [the] background of high unemployment, lower-wage jobs, and smaller portions of the pie going to workers, it should come as no surprise that, according to the U.S. Census Bureau, nearly 50 million people in the United States live in poverty (with income in 2011 below $23,021 for a family of four) while another 50 million live between the poverty level and twice the poverty level—one paycheck away from economic disaster. Thus, the poor (those in poverty or near poverty), most of whom belong to the working poor, account for approximately 100 million people, fully one-third of the entire U.S. population.… Wage repression and high unemployment are the dominant realities of our time. A vast redistribution of income—Robin Hood in reverse—is occurring that is boosting the share of income to capital, even in a stagnating economy. Is it any wonder, then, that for years on end polls have shown a majority of the population agreeing with the statement that the United States is on the wrong track and not headed in the right direction?… | more |

China 2013

The debates concerning the present and future of China—an “emerging” power—always leave me unconvinced. Some argue that China has chosen, once and for all, the “capitalist road” and intends even to accelerate its integration into contemporary capitalist globalization. They are quite pleased with this and hope only that this “return to normality” (capitalism being the “end of history”) is accompanied by development towards Western-style democracy (multiple parties, elections, human rights). They believe—or need to believe—in the possibility that China shall by this means “catch up” in terms of per capita income to the opulent societies of the West, even if gradually, which I do not believe is possible. The Chinese right shares this point of view. Others deplore this in the name of the values of a “betrayed socialism.” Some associate themselves with the dominant expressions of the practice of China bashing in the West. Still others—those in power in Beijing—describe the chosen path as “Chinese-style socialism,” without being more precise. However, one can discern its characteristics by reading official texts closely, particularly the Five-Year Plans, which are precise and taken quite seriously.… | more |

What Does Ecological Marxism Mean For China?

Questions and Challenges for John Bellamy Foster

Zhihe Wang’s article “Ecological Marxism in China,” which appeared in the February 2012 Monthly Review, demonstrated that Chinese interest in ecological Marxism has grown rapidly over the past two decades…. The practical, political, and theoretical reasons for its success include: pressing environmental issues facing China; the government’s call for ecological civilization; the many characteristics that ecological Marxism shares with traditional Chinese Marxism; and the support it has provided for China’s environmental movement. Numerous works by Western scholars, including Ben Agger, John Bellamy Foster, William Leiss, and James O’Connor, have recently been translated into Chinese. …In comparison [to the others], John Bellamy Foster’s ecological Marxism was introduced relatively late. But recently it has drawn the greatest attention from Chinese Marxist scholars…. Our purpose here is to elicit a response from Foster on some of these developments in Chinese thought.… | more |

Toward a Global Dialogue on Ecology and Marxism

A Brief Response to Chinese Scholars

I would like to thank Zhihe Wang, Meijun Fan, Hui Dong, Dezhong Sun, and Lichun Li for doing so much to promote a global dialogue on ecological Marxism by summarizing some of the insights and concerns of Chinese scholars in this area, focusing in this case on my work in particular. The various questions, challenges, and critiques raised in relation to my work and that of related scholars are all, I believe, of great importance to the development of theory and practice in this area. I am therefore providing a brief set of responses to the problems raised, which I hope will be helpful in the further promotion of this global dialogue on ecology and Marxism.… | more |

Capitalism and the Fallacy of Crude Underconsumptionism

The question of “underconsumptionism” is a tangled one—due not only to the commonplace fallacy associated with what is known as “crude underconsumptionism,” but also because the term has been used at various times to refer to what Joseph Schumpeter in his History of Economic Analysis called “non-spending” or effective demand theories (the second in a typology of underconsumption theories designated by Schumpeter). Underconsumption in this sense, however, would encompass theorists like Keynes and Kalecki who focus not on underconsumption per se, but on underinvestment. Hence, the term is no longer applied to theories of this type (except by some Marxian critics of “underconsumptionism”).… In the following exchange with Jonathan Penzner published in the April 1982 issue of Monthly Review, Harry Magdoff and Paul Sweezy, then editors of the magazine, pointed to the fallacy of crude underconsumptionism.… | more |

The Psychology of Culture

Making Oppression Appear Normal

Carl Ratner, Macro Cultural Psychology: A Political Philosophy of Mind (New York: Oxford University Press, 2011), 544 pages, $69.95, hardcover.

Psychologists engage in a number of practices that, mostly unwittingly, help to sustain the cultural distortions of the ruling class and hence their exploitative rule. One of these practices is to treat human behavior as primarily driven by biology. This leads, for example, to the medicalization of mental illness.… It also supports one of capitalists’ favorite ideological ploys: individualism. We are the masters of our own fate, not society and its culture. If we fail, it is our own fault. We simply did not try hard enough or follow the right path. Individualism favors self-blame and a refusal even to look for social causes. Ratner instead argues that humans are qualitatively different from all other species precisely in terms of how culture, not constant biological traits, shape their behavior. He points out that even our closest relatives, the great apes, have not developed culture, institutions, science, religion, etc. We are truly unique.… | more |

"The Socialist Register has been the intellectual lodestar for the international left since 1965."
—Mike Davis

Socialist Register 2013: The Question of Strategy

Socialist Register 2013 seeks to explore and clarify strategy for the Left in the light of new challenges and new opportunities. Socialists today have to confront two realities: that they cannot avoid the question of reforms and a gradualist path out of capitalism, and that the organizational vehicles for socialism will most likely have to abide by different structures and principles than those that dominated left politics in the 20th century. Though solutions are not obvious, Socialist Register 2013 interrogates these dilemmas and critiques some unhelpful radical thinking that obstructs the reconsideration of socialist strategy for the 21st century. It asks, how have the occupations of public squares around the world changed the political scene? What are the most useful forms of political organization in the new conjuncture? Which features of past organizational models should be retained, and which discarded?… | more |

Lenin and the “Aristocracy of Labor”

Eric Hobsbawm, who died last October 1, aged ninety-five, has been much celebrated as one of the twentieth century’s greatest English-language historians despite his steadfast advocacy of socialism and use of the tools of Marxian analysis. But, if asked, the founding editors of Monthly Review, Leo Huberman and Paul Sweezy, his lifelong colleagues and comrades, would have differed a bit. They would have said that it was precisely because Marxism was intrinsic to his theory, understanding, and action that he gained his preeminence.

What Makes the Working Class a Revolutionary Subject?

Those who conclude that the working class is not a revolutionary subject because capitalism has changed the working class reveal that they do not understand the ABCs of Marxism. The working class makes itself a revolutionary subject through its struggles—it transforms itself. That was always the position of Marx—his concept of “revolutionary practice,” which is the simultaneous changing of circumstances and self-change. The working class changes itself through its struggles. It makes itself fit to create the new world.… | more |

The Struggle for Socialism in China

The Bo Xilai Saga and Beyond

From Tahrir Square to Wall Street, from Athens to Montreal, dreams of emancipation are mobilizing a new wave of revolts all over the world. Simultaneously the forces of repression are being unleashed everywhere to impose “new mechanisms of social control” with the aim of establishing “new conditions for achieving surplus value” in the aftermath of a protracted capitalist economic crisis.1 Some anticipated a Chinese popular uprising following the Arab Spring. Instead, since spring 2012 the world has seen a sensational drama of elite struggle surrounding the ousting of the Chongqing head of the Chinese Communist Party (CCP) and Politburo member Bo Xilai, including a crackdown on his Chongqing Model of development. Even though the CCP has been able to contain large-scale social unrest, divisions amongst the elite became a focal point of political struggle during this dangerous year of power transition in China. [T] … | more |

Medicine and Empire

Howard Waitzkin, Medicine and Public Health at the End of Empire (Boulder, CO: Paradigm Publishers, 2011), 256 pages, $25, paperback.

For the past three decades Howard Waitzkin has been (along with Vicente Navarro) the leading social medicine theorist in the United States. Medicine and Public Health at the End of Empire provides a superb sampling of Waitzkin’s wide-ranging work, and a readily accessible introduction to the searching insights offered by a Marxist view of medicine.… | more |

"Where fresh insights are rare, indeed, Michael Lebowitz provides a bundle of them … rich material for badly-needed discussion."
—Paul Buhle, author, Marxism in the United States

The Contradictions of “Real Socialism”

The Conductor and the Conducted

In this concise volume, noted scholar and economist Michael A. Lebowitz considers the legacy of twentieth century socialist societies, or what some have termed “real socialism.” While these societies were able to claim major achievements in areas from health care to education to popular culture, they nonetheless met limited success in eroding what Marx called the “opposition of the worker as direct producer and the proprietor of the means of production.” That this opposition between workers and managers continued to exist in one form or another under “real socialism” means that, according to Lebowitz, a crucial aspect of the socialist project was lost.… | more |

"An excellent little introduction to Marx’s masterpiece … even if you’ve read lots of Marx, you can still learn a lot by reading this book."
—Doug Henwood, editor, Left Business Observer

An Introduction to the Three Volumes of Karl Marx’s Capital

Heinrich’s modern interpretation of Capital is now available to English-speaking readers for the first time. It has gone through nine editions in Germany, is the standard work for Marxist study groups, and is used widely in German universities. The author systematically covers all three volumes of Capital and explains all the basic aspects of Marx’s critique of capitalism in a way that is clear and concise. … | more |