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Political Economy

Big Farms Make Big Flu: Dispatches on Influenza, Agribusiness, and the Nature of Science

Big Farms Make Big Flu: Dispatches on Infectious Disease, Agribusiness, and the Nature of Science

Forthcoming in June 2016

Thanks to breakthroughs in production and food science, agribusiness has been able to devise new ways to grow more food and get it more places more quickly. There is no shortage of news items on the hundreds of thousands of hybrid poultry—each animal genetically identical to the next—packed together in megabarns, grown out in a matter of months, then slaughtered, processed, and shipped to the other side of the globe. In Big Farms Make Big Flu, a collection of dispatches by turns harrowing and thought-provoking, Rob Wallace tracks the ways influenza and other pathogens emerge from an agriculture controlled by multinational corporations. … | more…

Russia and the Long Transition from Capitalism to Socialism

Russia and the Long Transition from Capitalism to Socialism

Forthcoming in June 2016

Out of early twentieth-century Russia came the world’s first significant effort to build a modern revolutionary society. According to Marxist economist Samir Amin, the great upheaval that once produced the Soviet Union also produced a movement away from capitalism—a long transition that continues today. In seven concise, provocative chapters, Amin deftly examines the trajectory of Russian capitalism, the Bolshevik Revolution, the collapse of the Soviet Union, the possible future of Russia—and, by extension, the future of socialism itself.… | more…

Marxism and Ecology

Common Fonts of a Great Transition

To link Marxism and ecological transition may seem at first like trying to bridge two entirely different movements and discourses, each with its own history and logic: one having mainly to do with class relations, the other with the relation between humans and the environment. However, historically socialism has influenced the development of ecological thought and practice, while ecology has informed socialist thought and practice. Since the nineteenth century, the relationship between the two has been complex, interdependent, and dialectical.… This essay unearths the deep ecological roots of Marx’s thought, showing how he brought an environmental perspective to bear on the overarching question of social transformation. From there it traces the evolution of Marxian ecology, illuminating its profound, formative link to modern ecological economics and systems ecology. It concludes with the wider project of building the broad and deep social movement required to halt and reverse ecological and social destruction.… | more…

A Question of Place

On February 29, 2000, a first-grader in the Buell Elementary School in Flint took a semi-automatic rifle to school and fatally shot his classmate, six-year-old Kayla Rolland. Since then, there have been countless stories about the tragedy in the media. Those I have read or heard have focused on the chaos in the boy’s family and/or guns in the home and community. All have avoided saying that Buell School is in Flint. Instead they have located it in “Mt. Morris Township, somewhere near Flint.”… Buell Elementary School is in the Flint Beecher school district, and has a Flint address and a Flint phone number. But Flint officials, in collusion with GM, deny that Buell is in Flint, which has been known as Buick City. They want to dissociate GM from the devastation and violence that have overtaken the city since the Buick plant closed down.… I was in Flint a couple of weeks before the Buell shooting and GM’s responsibility for the city’s disintegration is as plain as day. A generation ago, Flint was a thriving working-class town. Now the abandoned Buick plant, spread out over an area as large as Detroit’s downtown, sits like a ghostly monster in the midst of empty parking lots, surrounded by block after block of tiny houses, little more than shacks, which once housed GM workers. No wonder Flint suffers from one of the highest per capita rates of murder, rape, and theft in the country.… | more…

Whither Japan? Seven Decades After Defeat

The hard-won lessons of Japan’s wartime defeat are enshrined in its National Constitution and Article 9 in particular.… For the past seventy years, Article 9 remained a fundamental principle of Japanese diplomacy, undergirded by memories of the Asia-Pacific War and the U.S. occupation, buttressed by important revisionist histories of Japanese imperialism. A politically recovered, economically restored Japanese populace still appreciates the Constitution and the relevance of Article 9. But conservative politicians who never believed in the Constitution’s ideals repeatedly challenged and worked around Article 9 despite the majority’s support for it.… Today, once again, Article 9 stands in danger of abandonment by interpretation rather than revision by constitutional processes.… | more…

Baran and Sweezy’s Monopoly Capital, Then and Now

An interview with John Bellamy Foster

Monopoly Capital was the principal Marxian, and indeed radical, political-economic work to be published in the 1960s, written by the two most prestigious Marxian economists in the United States and perhaps globally. It grew out of the critique of militarism and imperialism and economic waste as much as out of economic crisis. It was one of the first major works to focus on multinational corporations. Its final chapter emphasized the “irrational system” and was influenced by [Paul] Baran’s early background with the Institute for Social Research in Frankfurt. All of this made it extremely influential with the New Left in the United States, particularly its more radical, socialist wing. A good indication of this is Assar Lindbeck’s 1971 mainstream attack on what he called The Political Economy of the New Left, which focused almost entirely on Monopoly Capital.… | more…

Cotton: The Fabric of Death

Sven Beckert, Empire of Cotton: A Global History (New York: Knopf, 2014), 640 pages, $35, hardback.

For four years following the 2008 mortgage crisis, I worked as a cotton merchant for one of the “big four” trading firms—ADM, Bunge, Cargill, and Louis Dreyfus. These shadowy giants, two of them privately held, maintain oligopoly control of agricultural commodity markets. From desks in Memphis, my colleagues and I purchased mountains of cotton in Asia, Africa, and the Americas, warehoused it, speculated on it, and sold it back to mills on those same continents.… We sat at the pinnacle of a web of political and economic forces that funneled cotton into facilities we owned and cash into our accounts, but nowhere in the office was there a visible sign of the violence that made it all possible.… Too often liberal histories focus on a single period, territory, or class perspective, and end up obscuring the truth, severing the threads that tie a moment to its historical roots. Sven Beckert’s Empire of Cotton is different. Although a liberal historian, Beckert refuses to limit his scope in the traditional way. Instead, he follows the movement of cotton across time, space, and class, bringing forward the threads that bind the objects of an otherwise distorted past.… | more…

“Sic Vos Non Vobis” (For You, But Not Yours)

The Struggle for Public Water in Italy

Against the background of global and Eurozone financial crises, as well as the austerity sweeping across Europe, the pressure for governments to privatize public services is immense. Efforts to combat this are ever more necessary. This article examines one such effort, the Italian Water Movements Forum (also called just “the Forum”), a broad alliance of trade unions, social movements, development NGOs and environmental groups, and its successful 2011 mobilization supporting a referendum against water privatization. The article seeks to answer two questions. First, how was the Forum able to bring together such a wide range of different groups into a successful campaign? Second, why, despite the overwhelming success in the referendum, was there only a partial implementation of the results?… | more…


Remarks on Capitalism and the Environment It Produces

“Remarks on Capitalism and the Environment It Produces” is a recently discovered draft paper of Harry Magdoff’s. The exact date and location of its presentation is unknown; however the occasion was quite clearly a panel on economist Michael Tanzer’s The Sick Society (1971). We can therefore assume that it was written in 1971 or 1972. It is provided here in its original form with only minor copyediting. The title has been added. In our view, the chief importance of the paper is Magdoff’s early development of ecological ideas, ideas that are now much more common on the left.

—The Editors, Monthly Review

“Dangerous Circumstances”

The Council on Foreign Relations Proposes a New Grand Strategy Towards China

The Council on Foreign Relations (CFR) is the think tank of monopoly-finance capital, Wall Street’s think tank. It is also a membership organization: the ultimate networking, socializing, strategic-planning, and consensus-forming institution of the dominant sector of the U.S. capitalist class.… It is the world’s most powerful private organization, the “high command” body of the U.S. plutocracy. The Council has an almost century-long history of forming study groups to plan the United States’ overall “grand” strategic policies. It sets the agenda for debate, builds consensus among both the powerful and attentive publics, and then inserts its own network of people into public office to implement its favored doctrines in the real world. One of its latest efforts, a study group on U.S. grand strategy toward China, completed its work and issued a report in March 2015—approved by the CFR board of directors—entitled Revising U.S. Grand Strategy Toward China.… | more…

The Critique of the State

A Twenty-First Century Perspective

The allegedly less and less power of nation-states is a great exaggeration, voiced by governments in the interest of justifying their failure to introduce even some of their thoroughly limited and once solemnly promised social reforms.… The overwhelming historical failure of capital was—and remains—its inability to constitute the state of the capital system as a whole, while irresistibly asserting the imperatives of its system as the material structural determination of societal reproduction on a global scale. This is a massive contradiction. Inter-state antagonisms on a potentially all-destructive scale—as presaged last century by two world wars still without the now fully developed weapons of total self-destruction—are the necessary consequence of that contradiction. Accordingly, the state that we must conquer in the interest of humanity’s survival is the state as we know it, namely the state in general in its existing reality, as articulated in the course of history, and capable of asserting itself.… | more…

Secular Stagnation

Mainstream Versus Marxian Traditions

Paul M. Sweezy wrote in 1982, “it is my impression that the economics profession has not yet begun to resume the debate over stagnation which was so abruptly interrupted by the outbreak of the Second World War.” Thirty years later things appear to have changed. Former U.S. Secretary of Treasury Larry Summers shocked economists with his remarks regarding “stagnation” at the IMF Research Conference in November 2013, and he later published these ideas in the Financial Times and Business Economics.… Summers’s remarks and articles were followed by an explosion of debate concerning “secular stagnation” [which] can be defined as the tendency to long-term (or secular) stagnation in the private accumulation process of the capitalist economy, manifested in rising unemployment and excess capacity and a slowdown in overall economic growth…. Responses to Summers have been all over the map, reflecting both the fact that the capitalist economy has been slowing down, and the role in denying it by many of those seeking to legitimate the system.… | more…